Mutual of Omaha Bank – From Insurance to Online Banking

Mutual of Omaha Bank offers a wide range of deposit accounts and services to customers across the nation, including mobile and online banking.
By Michele Lerner

Our articles, research studies, tools, and reviews maintain strict editorial integrity; however, we may be compensated when you click on or are approved for offers from our partners.

While Mutual of Omaha Bank got its start in Nebraska, it offers online bank accounts for U.S. customers outside of the Cornhusker state. Originally known as the Mutual Benefit Health and Accident Association, the Mutual of Omaha insurance company began serving customers in Nebraska in 1909. The insurance company’s venerable history adds to the reputation of Mutual of Omaha Bank, a branch of the company that first opened its doors in 2007.

Mutual of Omaha Bank today has community bank branches in several states and offers online banking services for customers in all 50 states. In its 2016 balance sheet, Mutual of Omaha Bank reported a deposit growth of more than $6.05 million that latest year. The bank has grown through the acquisition of other community banks, as well as bringing in new customers through its online banking operation.

The Better Business Bureau gives Mutual of Omaha an A+ rating.

Mutual of Omaha Bank checking, savings and money market accounts

Some banking products vary by state for Mutual of Omaha, but online customers throughout the nation can open checking accounts, money market accounts and savings accounts through the bank’s separate website for online services. You can also apply for a credit card or mortgage through the site.

All Mutual of Omaha online accounts come with free access to a national network of thousands of ATMs.

Customers where Mutual of Omaha has community banks can open also open checking accounts, savings accounts, money market accounts or certificates of deposit in person, though the terms and interest rates are likely to vary from the online offerings. CDs are available with maturity dates from 1 month to 5 years with minimum deposits from $1,000.

Mutual of Omaha’s Basic Savings Account and Online Advantage Checking Account can be opened with low minimum deposits, and both allow you to earn interest if you meet the minimum balance requirement. All Mutual of Omaha bank accounts, both online and branch-based, are FDIC-insured to the maximum amount of $250,000 per depositor.

Online banking and other services

Customers can access in-person banking services at branches or the thousands of “no-fee” ATMs found at various locations throughout the U.S., from Hawaii to the contiguous states.

It’s free to sign up for e-statements, online banking and bill payments with Mutual of Omaha, regardless of whether you opened your account online or with a branch. In addition, the bank offers services through Popmoney, which allows person-to-person online payments, even if one party doesn’t have an account with Mutual of Omaha.

In addition to mobile and online banking services, Mutual of Omaha branches offer health savings accounts, individual retirement accounts (IRAs), Treasury management services and credit cards. You can also apply for mortgage loans, home equity loans and lines of credit, car loans, RV loans and personal loans at these locations.

For current rates and terms on Mutual of Omaha’s online accounts, please review the tables below.

About Author
Michele Lerner
Michele Lerner, author of “HOMEBUYING: Tough Times, First Time, Any Time”, has been writing about personal finance and real estate for more than two decades for a variety of publications and websites including MoneyRates, Insurance.com, HSH.com, SavingsAccount.com, National Real Estate Investor magazine, The Washington Times, Urban Land magazine, NAREIT’s REIT magazine and numerous Realtor associations.