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Certificate of Deposit/IRA

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Savings Accounts

Savings Accounts

You can choose between our 1st E-Advantage, Statement or Passbook Savings Account. Our Christmas Club can help you ease your holiday bills.

1st E-Advantage Savings Account: Online banking at its best.  Go paperless and earn a higher rate of interest.

Statement Savings Account: Receive a statement that shows the monthly activity of your account.

Passbook Savings: Yes, we still offer our customers the old-fashioned Passbook Savings Account.

Retirement Passbook Savings Account: An economical way to start saving for retirement. Open with as little as $1.00.

Christmas Club: A great way to lessen the sting of those holiday bills.

Kids Club Savings: Great way to teach kids to start saving money and learning about strong financial practices.

We give our customers the choice of opening our 1st E-Advantage Savings or a Statement Savings.  Open our 1st E-Advantage Savings and enjoy the convenience of online banking at its fullest  -  E Statements and earn the highest rate of interest we pay on any of our savings accounts.  With our Statement Savings, a statement will be mailed to you each month there is activity on your account.  If there is no activity on your account you will be mailed a statement quarterly. Those 1st E- Advantage Savings and Statement Savings customers that are eligible and qualify, upon request, can also receive a FREE ATM Card. Competitive interest rates are paid on all of our savings products.

Yes we are one of the few financial institutions that still offer the old fashioned Passbook Savings Account.  In addition, Individual Retirement Accounts (IRA's) can be invested in a Retirement Passbook Savings Account. 

Common Features of 1st E-Advantage, Statement Savings, Passbook Savings and Retirement Savings Accounts:

• Minimum balance to open this account is $1.00.
• You must maintain a minimum balance of $10.00 in the account each day to obtain the disclosed Annual Percentage Yield.
• Your interest rate and annual percentage yield may change at any time and at our discretion.
• Interest begins to accrue on the business day you deposit noncash items (for example, checks).
• We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
• Interest will be compounded every quarter and will be credited to your account every quarter and at maturity.
• Transfers from one of the above mentioned accounts to another account by preauthorized or automatic transfer are limited to 6 per month from passbook accounts, 6 per statement cycle from statement accounts, with no transfers by check, draft, debit card or similar order to third parties.
• Retirement accounts are subject to the additional rules and regulations as determined by the IRS and the Federal Government.
• Consult your legal or tax advisor regarding the tax deductibility for your specific situation.

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Christmas Club

• You must deposit a minimum of $1.00 to open this account.
• The bonus percentage amount paid on your Christmas Club will not change during the term of your Christmas Club; however, at the renewal of your Christmas Club, we will reserve the right to change the bonus percentage paid on your new Christmas Club. Currently if at the end of the Club payment schedule you have a minimum of $50 in your club account and you have the funds directly deposited in to another First Federal account we’ll pay .25% on the balance in the account. However, if at the end of the Club payment schedule you have a minimum of $50 in your club account and you do not have the funds directly deposited in to another First Federal account we’ll pay .10% on the balance in the account.To obtain this bonus, this account must be opened prior to February 1 each year.
• The bonus will be credited to your account after the second Saturday in October.
• If you close your account before the bonus is credited, you will not receive the bonus.

If any withdrawal is made from this account before the second Saturday in the ensuing October, then this account will be closed.
 

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Kids Club Savings  

• Minimum balance to open this account is $1.00.
• Must maintain a minimum balance of $10.00 in the account to obtain the disclosed Annual Percentage Yield.
• For children up to 12 years old.
• Free gift at account opening.
• Free gift from Cheddar's Treasure Chest with each deposit.
• Free coin counting with deposit.
• Quarterly Newsletter emailed and available at every branch.
• Many opportunities to meet the Kids Club Mascot Cheddar throughout the year.

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