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YouthSaver Savings Account

Make Saving Money an Adventure

  • $0 per month
  • $5 minimum opening balance
  • $0.01 minimum daily balance to earn interest
  • Age Requirement Under 18 (with co-owner over the age of 18 years of age jointly owned by minor and parent/guardian)
  • Co-owners have access to the account and can make unlimited deposits
parents talking with daughter in Midland branch office

Key Features & Benefits

Teach Smart Money Habits

Co-owning a savings account helps your child learn how to manage money, deposit checks, and save up for what they want. It's a fun way to practice math skills too!

Just $5 to Open

Start your child's financial journey with only $5. Visit any Midland location to open a YouthSaver account.

No Fees

No need to worry about keeping a lot of money in the account—our YouthSaver account has no monthly maintenance fees.

Automatic Savings

Support your child's savings goals with automatic transfers from your Midland checking account.

Convenient Access

Enjoy unlimited deposits and easy access to your child's savings whenever needed.

Grows Funds for the Future

A savings account sets your child up for financial success. By saving early and benefiting from compound interest, you can help build a strong financial foundation for your child's future.

Parents smiling as they walk into Midland bank branch with daughter

The Proof's in the Numbers

Deposit as little as $20 each month and watch your savings grow—even after a short time.

  • Starting balance: $0
  • Year 2: $480
  • Year 3: $720
  • Year 4: $960
  • Year 5: $1,200

Frequently Asked Questions

What are the requirements for opening a youth savings account?

  • Parents and guardians can open a YouthSaver Account for any child under the age of 18 by providing some basic details: 

  • Personal and contact information 

  • Social security number or employer identification number 

  • U.S. address 

Are the funds protected?

Yes, all funds in the savings account are FDIC insured up to the maximum coverage allowed. 

What happens to the account when the child turns 18?

When the child turns 18, the YouthSaver account will automatically change into a FlexSaver account in their name only. 

Some restrictions may apply. A $40 fee will be charged when account is closed within 180 days after opening. Foreign ATM fees by ATM owners other than Midland States Bank will be charged as the fee occurs. Bank rules and regulations apply. A minimum daily balance of $0.01 is required to obtain the disclosed Annual Percentage Yield (APY) Accrual of interest on noncash deposits will begin no later than the business day Midland States Bank receives credit for the deposit of noncash items (for example, checks). Account limited to individuals under the age of 18 years of age. Upon account owner reaching 18 years of age, account automatically changes into FlexSaver account. Fees could reduce earnings. Standard data and text message rates apply. 1Account is to be jointly owned by a minor and a parent/guardian.

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