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Savings

Mid American offers savings accounts for every purpose. There's no monthly service fee whenever a minimum balance of just $100 is maintained in any combination of deposit accounts (Preferred Youth accounts have no monthly feeĀ and no minimum balance requirement). Dividends are calculated daily and are paid quarterly, except where noted otherwise.

To apply for any savings account, simply fill out the Membership Application.

If you work for one of Mid American's employee groups, you may use payroll deduction to make automatic deposits into your own account, or another family member's account. You can also make automatic transfers into most savings accounts from another account.

Basic Membership Savings

Every member has a Basic Savings account that you can use for any purpose you have in mind. This account offers three free withdrawals per month. Nationwide ATM access is available on this account and this account can be used for Overdraft Protection.

Life Insurance Savings

This account offers free life insurance, matching your savings balance up to $5,000. This account offers three free withdrawals per month. This account has age and physical requirements. The age requirements are:

Age (at death)Amount of Insurance
0 - 6 months 25% of insured savings
6 months thru 54 years 100% of insured savings
55 years thru 59 years 75% of insured savings
60 years thru 64 years 50% of insured savings
65 years thru 69 years 25% of insured savings

Insurance stops altogether on your 70th birthday.

You qualify for insurance subject to a Pre-existing Condition Limitation. Insurance benefits will not be paid if your death results from an illness or injury for which you received medical advice, consultation, or treatment within the 6-month period prior to the date that you make the deposit. This rule does not apply if either you die 6 months or more after the date of the deposit, or your savings balance is $500 or less. ATM access is available on this account and this account can be used for Overdraft Protection.

Christmas Savings

Plan ahead for holiday expenses with a Christmas Savings account! Start your account at anytime, then make penalty-free withdrawals from October 1 to December 31. ATM access is not available on this account and it cannot be used for Overdraft Protection.

Payroll Plus Savings

This exclusive savings plan is designed to encourage consistent, longer term savings through payroll deduction, for members who work at a Mid American payroll group or have direct deposit of their Social Security checks. A maintained minimum balance of $500 earns one of Mid American's highest dividend rates. This is a restricted access account, with one free withdrawal monthly. Non-payroll deduction deposits up to $500 may be made only during the first 90 days the account is open. ATM access is not available on this account and it cannot be used for Overdraft Protection.

Vacation Savings

Regular deposits to a Vacation Savings account can help you prepare for that special getaway. This account offers three free withdrawals per month. ATM access is not available on this account, but it can be used for Overdraft Protection.

Preferred Youth Savings

Children and young adults through age 24 can take advantage of this special, no-fee savings account designed to meet their needs! ATM access is not available on this account and it cannot be used for Overdraft Protection. Members ages 5 to 13 will automatically be enrolled in Mid American's Young Savers Club. Club benefits include a free birthday gift, monthly prize contests with entries based on deposits and more.

Money Market Account

The Money Market account gives you a unique combination of benefits. It pays a higher yield than the Basic Membership Savings account and keeps your money liquid with three free withdrawals per month. Or you can order checks to access your Money Market account and can write up to three checks per month. Only $1000 is required to open and maintain your Money Market account, and a monthly service fee of $5.00 will be charged if your account balance falls below $1000. Dividends on the Money Market account are calculated daily as on other savings accounts, but are paid monthly. ATM access is not available on this account, but it can be used for Overdraft Protection.

IRA Savings

The IRA Savings account offers a great alternative for you if you are ready to start an IRA, but don't have the funds for a certificate. It pays a higher yield than a Basic Membership Savings account and can be either a Traditional or Roth IRA. You may deposit any amount at any time into this account. ATM access is not available on this account and it cannot be used for Overdraft Protection.

Coverdell Educational Savings Accounts

The Coverdell Educational Savings Account gives you the ability to save up for a child's (or children's) education, without opening a certificate. You may deposit any amount at any time into this account. More Information

Mid American Credit Union8404 West Kellogg DriveWichita, KS 67209316.722.3921Fax 316.722.0920Privacy Policy