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Savings and Money Market
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Savings and Money Market Accounts

Interest rates on our savings accounts vary. An account representative can provide current interest rates and an account disclosure explaining interest calculation.

Regular Savings

A regular savings account without service fees.

  • $150 minimum opening deposit
  • No minimum balance
  • No maintenance fee
  • Free use of First Federal’s ATMs
  • Free online banking and Bank by Phone. Federal regulation restricts the account holder’s ability to make no more than six pre-authorized, automatic, online, or telephonic transfers per month from a savings or money market account. The regulation does not limit the number of withdrawals made in person over-the-counter, through the mail, or through an ATM terminal. Deposit or other activity is not restricted.
  • Detailed quarterly statements
  • Interest is compounded and credited quarterly
Money Market Account

An investment-type account with market-based interest rates.

  • $2,500 minimum opening deposit
  •  Free online banking and Bank by Phone. Federal regulation restricts the account holder’s ability to make no more than six pre-authorized, automatic, online, or telephonic transfers per month from a savings or money market account. The regulation does not limit the number of withdrawals made in person over-the-counter, through the mail, or through an ATM terminal. Deposit or other activity is not restricted.
  • The $5 monthly maintenance fee is waived if you maintain a balance of $2,500 every day.
  • Interest is compounded monthly and paid in the following tiers:
    $0.01 - $2,499.99
    $2,500.00 - $9,999.99
    $10,000.00 - $24,999.99
    $25,000.00 - $49,999.99
    $50,000.00 +
Christmas Club

Save for the holidays.

  • No minimum balance
  • Interest will not be compounded but will be credited to the account annually when the balance is pulled in the Christmas Club check.
  • This check will typically be produced and mailed to you in November of each calendar year.