25 months 1.25% APY*
37 months 1.45% APY*
New money only. Minimum balance requirement $10,000. Significant penalty for early withdrawal. *APY=Annual Percentage Yield
A regular certificate starts with a $1000 minimum investment, with a wide range of terms, from six months to five years. Regular certificates may also be held in Traditional or Roth IRA, SEP, HSA and Coverdell Educational Savings investments. Early withdrawal is subject to a penalty.
Market Index Certificates
The Market Index Certificate offers returns based on the S&P 500 Average in three or five year terms. With the Market Index Certificate, you enjoy the potentially high returns of the stock market with the safety of an insured certificate. If the S&P does not appreciate or falls in value during the term of your Market Index Certificate, you earn a guaranteed dividend. There are no fees or other charges, only upside to a Market Index Certificate. Also available for Traditional or Roth IRAs.
The PayDay Certificate lets members enjoy certificate earnings with an opening deposit of just $100 on a one year certificate. Then automatic transfers, timed to the individual's payday, are set up to increase the certificate amount ($10 minimum transfer monthly). Early withdrawal is subject to a penalty.
Preferred Youth Certificate
Help a young person (up to age 24) prepare for the future with a Preferred Youth Certificate with just a $100 opening deposit. Then make deposits of $50 or more into the certificate at any time. This one-year certificate earns the regular one-year certificate rate. The Preferred Youth Certificate is not available for IRA ownership. Early withdrawal is subject to a penalty.
Coverdell Educational Savings Account (CESA)
Two types of educational accounts are available to meet member needs. The one-year educational certificate has a low opening deposit of just $100, and additions of $50 or more are allowed at any time, up to the $2,000 annual limit. Terms of 6 months, 18 months, 24 months, 36 months, 48 months and 60 months are available with a minimum deposit of $500. See Coverdell Educational Savings Account for more information about eligibility and contribution limits.
Whatever your certificate or tax-favored needs, Mid American can help you meet them. Please call our Member Contact Center, (316) 722-3921, ext. 202.