Public Funds Interest Checking Account

This account is optimal for public entities that maintain higher balances and want to earn competitive interest rates, based on the daily collected balance.  The account has a tiered interest rate.

Opening Deposit $5,000
Service Charges
    • Monthly Service Charge:  $10.00 if the current balance falls below $5,000
    • Monthly Item Charges:
      • Debit transactions: $0.16 each
      • Credit transactions: $0.16 each
      • Deposited items (Foreign): $0.10 each
      • Deposited items (On Us): $0.07 each
      • ACH Debit/Credit Items: $0.11 each

Interest:

    • If the collected balance falls below the minimum amount at any time during the statement period, interest will be forfeited for the entire month.
    • If the account closes, accrued interest will be paid up to the day of closure.
    • The interest will be paid by crediting the account monthly.
    • FirstBank uses the daily balance method to calculate the interest on the account.  This method applies a daily periodic rate to the principal in the account each day.
    • The interest rate is variable and compounds monthly.  The interest rate and the annual percentage yield (APY) may change at any time.

** Ask for our current rates. Rates are subject to change.

Features
  • Monthly imaged statement
  • Online Banking

FDIC