First Steps Savings®

A lifetime of financial success begins with a single step. When your children open their first savings accounts, it should be an event that helps to instill a lifetime of prudent financial decisions. Our Personal Bankers are happy to sit down with your kids to help them learn more about the power of saving.

1. Adult signature required to open. 2. In accordance with limitations set by Federal regulations, this account is allowed up to six (6) transfers and withdrawals by means of a transfer (preauthorized, automatic, telephone or online), check, draft, debit card, or similar order to a third party per month or statement cycle (if your statement cycles mid-month). Activity in excess of the allowable Federal limit may result in the account being converted or closed. Any transfers or withdrawals in excess of six (6) per month or statement cycle (if your statement cycles mid-month) will be assessed a $15 Excess Activity Fee per transfer or withdrawal.

First Step Savings FAQ

Can I set up automatic deposits to my savings account? Yes. You can set up automatic deposits to your savings account from your MB&T checking account. You can also make automatic deposits to a child's First Step Savings account.
Can I receive a combined monthly statement for all of my accounts? Yes. You can combine multiple MB&T savings, checking, and money market accounts into one organized monthly statement. Talk to a personal banker or call our Service Center to request a combined statement at (800) 348-0146.
How is interest paid? Interest is compounded quarterly and paid quarterly on all savings accounts.