IRA and HSA Accounts
Yes! Gain more control over your healthcare expenses with this account and a HSA-compatible high deductible health plan.
SEP contributions a different than regular contributions. They must be processed and recorded for current year. If someone wants a SEP contribution recorded for the previous year they do that by working with their tax advisor at the time they are filing their taxes.
There are several ways that you may make contributions throughout the year.
You may set up payroll deduction, direct deposit, or automated transfers from your checking account. You may make a one-time contribution or make periodic contributions.
Call Member Solutions at 877-794-6712, or stop in a branch to get started today.
You can ask to receive an HSA Debit Card or checks for your HSA.
HSA bills can also be paid using Online Banking Bill pay.
You can use your regular SouthPoint checking account to pay your bills and transfer funds from your HSA into your SouthPoint checking account to cover the transaction.
In order to determine which type of IRA is best for you, you must consider many factors such as, what will you be using the money for, when will you need the money, what type of potential tax deductibility is offered, etc.
Here are the general benefits of three types of IRAs:
- Traditional - This type of IRA offers potential tax deductibility. There are no income limits for contributions. The funds you contribute to this type of IRA are considered pre-tax dollars and you will be taxed upon withdrawal of the funds.
- Roth - This type of IRA offers potentially tax-free earnings. The funds you contribute to this type of IRA are considered after-tax dollars and you may get tax-free withdrawals.
- Coverdell Education - This type of IRA offers the potential of tax-free earnings when the funds are used for educational purposes.
For more details on an IRA account, please send a message on our Investment Services web page or by calling Member Solutions at 877-794-6712.
The biggest difference is a Traditional IRA is considered "Pre Tax" dollars and a Roth IRA is considered "After Tax" dollars.
Here is a brief summary of each:
Traditional - This type of IRA offers potential tax deductibility. There are no income limits for contributions. The funds you contribute to this type of IRA are considered pre-tax dollars and you will be taxed upon withdrawal of the funds.
Roth - This type of IRA offers potentially tax-free earnings. The funds you contribute to this type of IRA are considered after-tax dollars and you may get tax-free withdrawals.
For more details on an IRA account, please contact Member Solutions at 877-794-6712 or use VideoConnect.
Understanding your SouthPoint Account
Yes, SouthPoint offers youth savings accounts!
We require a valid Social Security Card for the child or a form of state/ federally issued photo ID (such as a passport) to open an account for a minor. Typically, a youth savings account is established in the name of the child with a parent or guardian joint on the account. If another adult, who is not the parent or guardian, is going on the account with the child instead, the parent or guardian still must sign the paperwork acknowledging the account is being created for the child.
To open an account for a child, visit us however is most convenient for you:
Your savings account number or member number is provided to you upon initial account opening. If you need assistance obtaining your member number, please call Member Solutions at 877-794-6712 or you can chat with us online through our online chat feature. They can verify your identity and get you what you need.
The easiest way is to open your certificate online. If you prefer, you can call Member Solutions at 877-794-6712, chat with us online utilizing our online chat or stop by any of our branch locations.
Check the current certificate rates.
No, you don't. Once you have joined the credit union, you can always remain a member, even if you are no longer connected to our counties of membership.
We hope you will keep your account.
There are many ways to access your accounts at the credit union from wherever you are!
- Over 37,000 surcharge-free ATMs nationwide
We have a saying - once a member, always a member! We invite you to make the most of your membership with the credit union at every stage of life.
To the consumer there is no difference between a cashier's check and an official check.
Both are considered guaranteed funds, the same as cash. They are both equally accepted and funds should be considered immediately available.
If you need a cashier's check made payable to yourself, just request a check in Online Banking, or by calling Member Solutions at 877-794-6712 and one will be mailed to you. We do also have cashier's checks available at all our branch locations.
To close non-primary accounts (such as a sub savings or a checking account) please call Member Solutions at 877-794-6712, send a secure message from inside your online banking or stop into a branch to request closure.
To close your entire membership with the credit union, please call Member Solutions at 877-794-6712 or stop into a branch to request closure.
Our most current savings rates are available on our website. Click here to view.
Contact your employer's payroll department or originating company for instructions to change account information for your direct deposit to the credit union.
A completed Direct Deposit form will give the payroll department all the information they'll need to change your direct deposit. If you need the credit union's routing number it is 291976493. Your account number can be found on your original membership documents, on your checks, by calling Member Solutions at 877-794-6712 or by stopping in a branch and requesting the information.
No, the money must stay in your account until November 1st. On that date, the funds will transfer over to your membership savings to use for spending. If you want to close the account, you will forfeit the interest earned since November before you close the account.
Possibly. We recommend you complete a membership application so we can assess your individual situation.
If you're interested in opening a checking account, you may qualify for a Money Market Checking or Regular Checking account if your NSF closure has been paid. There are no monthly service charges, no minimum balance requirement, and no per-check fees as long as the account has monthly activity and a positive balance.
You can also enjoy all of the conveniences, such as:
- Debit card
- Mobile + Online Access
- Bill Pay
- Mobile Deposit
You can apply for a checking account online, using VideoConnect or by stopping in one of our branches.
SouthPoint provides 1 free package of 80 standard checks a year. To order or reorder checks, stop into any branch, through Online and Mobile Banking or call Member Solutions at 877-794-6712. If you would like to purchase additional or customized checks, visit the Additional Services tab in Online Banking and select Harland Check Reorder.
- Select My Settings from the top right corner in Online Banking
- Scroll down to Other Settings and select Alerts & Notifications
- Select which alerts and notifications you would like to receive, and whether you would like to receive them via email, text message or both
- To add additional alerts select Add an Alert +
- Fill out our Stop Payment Request form online at https://www.southpointfinancial.com/stop-payment-request/
- Call us at 877-794-6712 to place a stop payment on a specific item or purchase
The routing number for SouthPoint Financial Credit Union is 291976493.
Use the routing number, along with your account number to set up direct deposit or ACH transfers to your account.
You may open a savings account online, through VideoConnect, by calling Member Solutions at 877-794-6712, or stopping by one of our convenient locations.
The credit union offers tiered rates for Money Market accounts based on your account balance.
Check our current rates. You can open a money market account online, in VideoConnect, by calling Member Solutions at 877-794-6712 or stopping by one of our branch locations.
You need to enter your correct member number and PIN to validate your account information via our 24-hour phone system. If an incorrect account number or PIN is used, your account will become inactive as a security measure.
For PIN resets, please call a Member Solutions Representative at 877-794-6712.
We offer cashier's checks at all branch locations. Cashier's checks or official checks are guaranteed funds, the same as cash. They are both equally accepted and funds should be considered immediately available.
If you need a cashier's check made payable to yourself and mailed to you, just request a check in Online banking, VideoConnect, or by calling Member Solutions at 877-794-6712.
Yes, members can authorize direct deposit of their payroll, Social Security, retirement, Veteran's Administration benefits, or almost any recurring deposits.
With direct deposit, a member's check is automatically and safely deposited into their credit union account. On payday, their money is already in their account. They don't have to worry about depositing their check in person.
The easiest way a member can sign up for direct deposit is to present their payroll department with a completed Direct Deposit Form. It has all the information they will need to get direct deposit started.
Member's account numbers can be found on the on their checks.
Further questions should be directed at Member Solutions at 877-794-6712.
Yes, members can use it for anything they wish. It is designed to help members save money for Christmas expenses. The funds are locked until they are deposited into the membership savings on November 1st. However, some members use it to save for a vacation or a trip.
The Holiday Club is also a great account to help members learn how to save. It requires a monthly direct deposit and makes the funds semi-inaccessible by not allowing withdrawals unless the member closes the account.