WinSouth Credit Union

Products to get you there



Individual Retirement Accounts (IRAs)

We offer several IRA options at competitive rates. (Consult your tax advisor to determine which option is available and most beneficial for you.)

Note: Please refer to the IRA Distribution Withholding Notice (form 2317) at the bottom of this page.

Traditional IRA

Traditional IRA Share Certificate-Available with the same terms as Share Certificates with a minimum of $1,000. Share Certificate IRAs are offered for terms from 6 months to 5 years.

  • Automatically renewed at maturity
  • Dividends are paid monthly

Roth IRA

A non-tax deductible IRA that features tax-free withdrawals after a 5-year holding period in certain circumstances.

  • Roth share certificates
  • Dividends earned monthly

Coverdell Education Savings Account

A non-tax deductible account that features tax-free withdrawals for children's college expenses.

  • Dividends earned monthly
  • Coverdell ESA share certificates

IRA Distribution WITHHOLDING NOTICE (Form 2317)

Payments from your IRA are subject to federal income tax withholding, unless you elect no withholding. You may change your withholding election at any time prior to your receipt of a payment. To change your withholding election, complete the appropriate form provided by WinSouth Credit Union.

Withholding from IRA payments, when combined with other withholding, MAY relieve you from payment of estimated income taxes. However, your withholding election does not affect the amount of income tax you pay.

You may incur penalties under the estimated tax rules if your withholding and estimated tax payments are insufficient.