In the big picture, this isn't kid stuff.
Doctor, lawyer, teacher. Plumber, police officer, retail entrepreneur. No matter what your child grows up to be, they'll need to know the value of saving and smart money management. At Mid American, we offer a variety of accounts that offer everyday benefits plus build skills young people will need as grown-ups.
Freedom Checking
Young people are always looking for ways to become more independent. This account gives 16- to 24-year-olds a chance to spread their financial wings.
- No adult joint adult owner required on account
- No monthly fees, minimum balance or minimum opening deposit
- Earn dividends on deposits
- Free fee Visa® Debit Card or MoneyNow ATM Card issued instantly when you open your account. Plus, you have the option of designing your own Visa® Debit Card!
- Unlimited free ATM withdrawals within nationwide, no-surcharge ATM network)
- Manage your account with Online Banking or our free mobile app
- Free mobile check deposit
- Free online Bill Payer
- 24-hour MATT telephone teller
- Automatic overdraft protection
- Free 24/7 ID theft victim resolution service
FirstStep Checking
Available to members ages 13 to 15 who take a financial quiz. No worries - the questions aren't too hard and acing the exam has some really cool benefits.
- Adult joint adult owner required on account
- No monthly fees, minimum balance or minimum opening deposit
- Earn dividends on deposits
- Free Visa® Debit Card or MoneyNow ATM Card issued instantly when you open your account. Plus, you have the option of designing your own VISA® Debit Card!
- Unlimited free ATM withdrawals within nationwide, no-surcharge ATM network)
- Manage your account with Online Banking or our free mobile app
- Free mobile check deposit
- Free online Bill Payer
- 24-hour MATT telephone teller
- Automatic overdraft protection
- Free 24/7 ID theft victim resolution service
Preferred Youth Checking
It's the best of both worlds. Young people ages 16 to 24 get access to grown-up banking tools and services. And the parents still get to keep an eye on things.
- Adult joint owner is required for the Preferred Youth Checking Account
- No monthly fees, minimum balance or minimum deposit to open
- Free Visa® Debit Card or MoneyNow ATM Card issued instantly when you open your account. (Plus, you have the option of designing your own debit card)
- Unlimited free ATM withdrawals within nationwide, no-surcharge ATM network
- Manage account with Online or Mobile Banking
- Free online Bill Payer
- 24-hour MATT (Mid American Telephone Teller)
- Automatic overdraft protection
- Free 24/7 ID theft victim resolution service
Preferred Youth Savings
Save money now. Do fun things with it later. Here's where to get started.
- For children and young adults through age 24
- No monthly fees
- Earn dividends on deposits
- ATM access is not available on this account nor can it be used for Overdraft Protection
Preferred Youth Certificate
As your child grows, so will their money. Our Youth Certificates pay higher dividend rates than standard savings accounts.
- For young people through age 24
- Minimum $100 opening deposit
- Make deposits of $50 or more into the certificate at any time
- This one-year Certificate earns the same rate as our regular one-year Certificates
- Preferred Youth Certificate is not available for IRA ownership
- Early withdrawal can mean loss of dividend earnings. However, initial investment is never at risk.
Preferred Youth Visa
In the real world, a large percentage of transactions are made with credit cards. Our Preferred Youth Visa can provide your young person with some much-needed practice.
- Adult co-signer sets the credit limit
- Low interest rate of 9.9%
- No annual fee
- Excellent way to provide budgeting flexibility for a college student