If you’ve been itching to cross off that home improvement project from your to-do list or dreaming of a relaxing vacation, First Mid’s Summer Savings account is the perfect account to help you budget your money for next summer!
Summer Savings accounts can be opened this year between May 25 to August 31, and requires a minimum initial deposit of $1. Just designate a certain amount — which can be increased or decreased at any point throughout the year — from your paycheck or transfer funds from another First Mid account to grow your savings.
The payout will then be available when the account matures in May 2020 and must be transferred to another First Mid deposit account. To keep your savings goal on track, there cannot be any withdrawals taken out until maturity.
So when you’re ready to start saving for next summer’s adventures, stop by your local First Mid banking center to get started!
*The Summer Savings account earns simple interest on the average daily balance at maturity. Interest is paid when the account reaches maturity and the balance is paid out.