Madison National Bank, a Michigan institution with $95 million in assets, is making a big pitch to attract customers older than 50.

Its Silver Club premium plan offers free personal and travelers checks, money orders, and notary service to customers who meet the age requirement.

Direct deposit of paychecks and Social Security checks is also available, along with free access to a safe deposit box for the first year with the bank.

"It's a good vehicle for increasing deposits," said June Krause, vice president of human resources at Madison National.

Merchant Discounts Offered

Ms. Krause noted that Madison's branches are in communities, Madison Heights and Farmington Hills, that have a big population of older people.

Madison National also has introduced a premium-plus plan that gives discounts at local merchants to people over 50 who pay a $3 monthly fee.

The discounts are available at eyewear stores, pharmacies, travel agents, and some home-shopping businesses.

To qualify for either program, a customer must maintain a $100 minimum balance in a savings account. If the balance falls below that, a $5 fee is imposed.

People who join the plan also can name a beneficiary, who can be younger than 50, to be eligible for the same benefits as club members if they set up a joint account.

Since its inception in May, the Madison Silver Club has attracted about 1,500 customers with $3 million in deposits, Ms. Krause said.

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