Checking and Savings Accounts

If your MasterCard Debit Card is ever lost or stolen, Click Here

 

Mid-Central Federal Savings Bank offers a deposit product to meet your needs. To obtain more information, or open an account, just stop by one of our convenient locations,  or call 218-631-1414

Customers of Mid-Central Federal Savings Bank with non-interest bearing transaction accounts will continue to be insured through December 31, 2013 for up to $250,000 under the FDIC’s general deposit insurance rules.

BasicChecking_125x180 FREE CHECKING ACCOUNT

  • No minimum balance.
  • No monthly maintenance fee.
  • MasterCard Debit Card*.
  • FREE Online Banking.
  • FREE Bank by Mail.
  • FREE After Hours Depository.
  • FREE 24-Hour Telephone Banking.
  • FREE Notary Service.

InterestCheckiing_125x150 INTEREST CHECKING ACCOUNT

  • Minimum Balance $500.
  • No Monthly Service Charge (if below minimum balance – $5)
  • Tiered Interest Rates.
  • FREE Overdraft Protection – Swept from your savings account
    (up to 6 times per month)
  • MasterCard Debit Card*.
  • ATM Fees Refunded – with $1000 average balance.
  • FREE Online Banking.
  • FREE Bill Pay
  • FREE Bank by Mail.
  • FREE After Hours Depository.
  • FREE 24-Hour Telephone Banking.
  • FREE Notary Service.

SeniorCitizenAccount_125x180 SENIOR CHECKING ACCOUNT

  • No minimum balance.
  • No monthly Service Charge.
  • Free Checks
  • Tiered Interest Rates.
  • MasterCard Debit Card*.
  • FREE Online Banking.
  • FREE Bill Pay
  • FREE Bank by Mail.
  • FREE After Hours Depository.
  • FREE 24-Hour Telephone Banking.
  • FREE Notary Service.

 

MoneyMatter_650x300s STUDENT CHECKING ACCOUNT

  • $50 opening balance.
  • No minimum balance.
  • No monthly Service Charge.
  • Free Checks
  • Tiered Interest Rates.
  • MasterCard Debit Card*.
  • FREE Online Banking.
  • FREE Bank by Mail.
  • FREE After Hours Depository.
  • FREE 24-Hour Telephone Banking.
  • FREE Notary Service.

*MasterCard Debitsm Card

  • Available FREE of charge for all qualified checking account customers.
    • FREE ATM withdrawals at any MasterCard Debitsm ATM location (excluding surcharge fees charged by the ATM’s owner).
    • The MasterCard Debitsm Card allows you to make withdrawals for purchases directly from your checking account.
    • The MasterCard Debitsm Card allows you to transfer between your checking and statement savings account at mostATM locations.

    All checking accounts require a $100 opening balance.

Savings Accounts

MoneyMarket_125x180 MMDA SAVINGS

  • Interest paid monthly.
  • No monthly maintenance charge if $1,000 Minimum Daily Balance is maintained.
  • $5.00 monthly charge if Minimum Daily Balance falls below $1,000.

SavingsAccount_125x180 STATEMENT SAVINGS

  • Interest compounded and paid quarterly.
  • $10 minimum balance required to avoid service fee of $1 per month.
  • Monthly statements are conveniently combined with your other checking or MMDA accounts.
  • ATM access allowed to qualified customers.

KidsCorner_650x300 DOLLAR THE DRAGON KIDS CLUB SAVINGS

  • Interest compounded and paid quarterly.
  • No minimum balance required.
  • Make deposits weekly at your school (if school participates) or at any branch
  • Gifts and awards for consistently saving – it’s not how much, but how consistently you save that counts!
  • Website for educational games to teach 3rd – 6th grade students how to save for their future.

DebtConsolidation_650x300 HEALTH SAVINGS ACCOUNTS

  • $100 minimum to open account (or open with direct deposit setup)
  • No opening fee
  • No monthly maintenance charge.
  • Checks may be purchased by customer. Health Savings Account will be written above the signature line. MasterCard Debit Cards are also available for this account.

Important Information about Procedures for Opening a New Account

Identification Procedures Requirements: To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We will also ask to see your driver’s license or other identifying documents.

Fees & Charges

  • Amortization Schedules: $5.00
  • ATM Usage (excluding surcharges)
    MasterCard Debit Cardssm ATMs: No Charge
    Foreign ATMs: $1.00
  • Card Replacement: $5.00
  • Dormant Account Fee: $1.00/month
  • Fax-lncoming: $1.00/page
  • Fax-Outgoing: $4.00 + $0.50/page
  • Garnishments, Levies: $30.00
  • IRA Annual Fee: $20.00
  • IRA Closing Fee: $25.00
  • Money Orders: $2.00
  • Cashier’s Checks: $2.00/each* *first 3 free each month
  • Notary Service (For Customers): No Charge
  • NSF and Overdraft Checks: $22.00/item
  • NSF Daily Maximum: $110.00
  • Records Research: $20.00/hour
  • Return of Deposited Item: $2.00/item
  • Bank Zipper Bags: $3.00
  • Safe Deposit Boxes
    Rental – Wadena & Long Prairie: $30.00 – $60.00/year
    1 LostKey: $10.00
    2 Lost Keys/Drilling: AT BANK COST
  • Statement Balancing: $20.00/hour
  • Statement Copy: $5.00
  • Stop Payments: $15.00
  • Travel Cards (Reloadable): $5.00
  • Prepaid Gift Cards: $3.00
  • Wire Transfers
    Outgoing: $20.00
    Incoming: $15.00