If you want to convert it to a date, you can do it like this:
Code:
MyDate: DateSerial("20" & Mid([MyField],5,2),Left([MyField],2),Mid([MyField],3,2))
Then you can apply the format of:
mmmm dd", "yyyy
on it to get it to look the way you want, while maintaining a Date data-type.
You could do it like this also, but it would make it a Text data type (which could be problematic if trying to use it in calculations, sorting, searches, etc).
Code:
MyDate2: Format(DateSerial("20" & Mid([MyField],5,2),Left([MyField],2),Mid([MyField],3,2)),"mmmm dd, yyyy")