Personal Savings Accounts

My First Savings Account

N/A

N/A

Earn interest on daily balance of $10 or more

• $50 minimum opening deposit
• Minor statement savings account
• Available for youth under 18 years of age
• Three withdrawals allowed per cycle; withdrawals after three will incur a $1 charge
• Limited to six pre-authorized, automatic, telephone or electronic transfer debits per cycle; $3 charge per item, thereafter

Regular Savings Account

$3

$50

Earn interest on daily balance of $10 or more

• $50 minimum opening deposit
• Three withdrawals allowed per cycle; withdrawals after three will incur a $3 charge
• Limited to six pre-authorized, automatic, telephone or electronic transfer debits per cycle; $3 charge per item, thereafter

Access 90 Account

$15

$1,000

Earn interest on daily balance. Rate varies based on the applicable interest rate tier.

• $1,000 minimum opening deposit
• Interest rate tiered on balances of:
  • $0 to $24,999
  • $25,000 to $74,999
  • $75,000 to $149,999
  • $150,000 or greater
• Unlimited deposits allowed
• Withdrawals allowed during first ten days of each calendar quarter; after first ten days, a $25 charge will be incurred for each withdrawal

Christmas Club Account

N/A

N/A

Earn interest on daily balance of $10 or more

• $5 minimum opening balance
• First Federal Bank checking account required
• Automatic transfers can be made weekly, bi-weekly, or monthly
• Monthly account statement combined with checking account statement
• Counter deposits accepted in $5 increments
• Balance transfer to checking account on October 31 each year, available on first business day after transfer
• $10 Close Out Service Charge if closed on any day other than November 1

Home Buyer Account

N/A

N/A

Earn interest on daily balance of $10 or more

• $10 minimum opening deposit
• Funds used for a First Federal Bank home loan
• When combined with a qualified checking account*, earns higher yield than Regular Savings Account on daily balances of $10,000 or less
• Loan incentives
• Loss of 90 days simple interest on withdrawals for reasons other than First Federal Bank home loan 

Health Savings Account (HSA)

$2.50

$500

Balances below $50 will not earn interest

• Rates are subject to change
• Combines your high-deductible health insurance plan with an interest-bearing, tax-favored account
• Savings can be used for any qualified medical expenses - even those not typically covered by your plan
• Contributions to your HSA are 100% tax deductible**
• Unused savings or earnings can be used in future years