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Planning for a financially secure future is a smart decision, and First Federal Bank knows that every customer has different financial goals. Whatever the case, First Federal Bank offers a complete line of savings plans that are tailored to fit your individual needs.
| Personal Savings Account | Service Charge | Balance to Avoid Charge | Interest Rate Information | Additional Benefits & Other Information |
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My First Savings Account
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N/A
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N/A
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Earn interest on daily balance of $10 or more
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- $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
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Regular Savings Account
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$3
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$50
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Earn interest on daily balance of $10 or more
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- $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
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Access 90 Account
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$15
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$1,000
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Earn interest on daily balance. Rate varies based on the applicable interest rate tier.
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- $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
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Christmas Club Account
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N/A
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N/A
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Earn interest on daily balance of $10 or more
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- $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
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Home Buyer Account
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N/A
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N/A
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Earn interest on daily balance of $10 or more
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- $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
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Health Savings Account (HSA)
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$2.50
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$500
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Balances below $50 will not earn interest
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- Rates are subject to change
- Combines your high-deductible health insurance plan with an interest-bearing, fax-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
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*Qualified Checking Account is defined as an active checking account with regular transactions such as deposits, checks, debit card transactions, etc.
**Applicable to all qualified medical expenses. Consult your tax advisor. Check with your insurance agent, or tax preparer, for details on qualified HSA plans.
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