THE NEW MONEY MARKET CHANGING THE GAME BY CHANGING WITH PRIME
- Basic Savings
- Christmas Club
- Health Savings Account
- FirstRate Money Market
- Money Market Tiered
- UTMA-Minor Savings
FIRSTRATE MONEY MARKET®
Combine a great everyday account with a new day in savings.
We introduced a better money market that moves when Prime does to give you the best interest rates available. For those customers meeting FirstRewards checking requirements, you’ll receive a higher rate. Open the FirstRate Money Market® today and save yourself time and worry while you gain the kind of advantages found in FirstBank’s new savings product.
- A great companion account to your new or existing FirstRewards Checking account
- Meet FirstRewards requirements to earn a higher interest rate on balances up to $250,000
- Rate moves with Wall Street Journal Prime Rate
- Offers tiered interest rates
- Free online banking
- Free online statements
- Easily access up to 6 free withdrawals monthly (withdrawals exceeding 6 per month result in a $2 fee per withdrawal. Going over withdrawals more than 3 times in a 12-month rolling period may result in account conversion to a more suitable account.)
No monthly service charge if $5,000.00 minimum balance is maintained (if not, $10.00 fee)
Tier 1: Daily balance $0.00 to $250,000.00 – 1.16% APY
Tier 2: Daily balance greater than $250,000.00 – 0.50% APY
A base rate of 0.25% APY is applied to all balances when qualifications are not met.
To open the account, you must make a minimum deposit of at least $5000.00. A minimum balance of $5000.00 is required per statement cycle to avoid being charged a $10.00 monthly service charge. During any calendar month you may not make more than six (6) withdrawals or transfers. Exceeding the six (6) withdrawals or transfers limitations in a statement cycle will result in a $2.00 charge per transaction over six (6). Your account will be subject to closure or conversion to a more suitable account if the transfer or withdrawal limit is exceeded more than three (3) times in a rolling 12-month period. To earn the “FirstRate Money Market”.25% Annual Percentage Yield (APY), you must meet the following requirements: Receive your FirstRewards Checking account statement electronically monthly (eStatements). To qualify for FirstRate Money Market Reward interest rates, you must meet the following requirements in your FirstRewards Checking account: The primary account holder must be the same on the FirstRewards Checking account and the FirstRate Money Market savings account. 10 settled debit card point of sale transactions per Qualification period. Automated Teller Machines (ATM) transactions do not count towards the required 10 settled transactions. Receive your FirstRewards Checking account statement electronically monthly (eStatements). One (1) monthly automated clearing house (ACH) debit or ACH credit. Closure of the FirstRewards Checking account will result in forfeiture of the reward interest rate on the FirstRate Money Market account and all FirstRate Money Market account balances will earn .25% (APY). An interest rate of 1.15% with an APY of 1.16% will be earned in the FirstRate Money Market savings account on balances up to $250,000. The portion of account balances above $250,000.00 will earn an interest rate of .50% with an APY of .50%. The tiered interest rate may increase or decrease a minimum of 0.10% APY with each 0.25% change in the Wall Street Journal Prime Rate. The rate will be updated within 24 hours of a change in the printed Wall Street Journal Prime Rate and will be effective the next business day. Applicant must be 18 years of age or older to open an account. Applicants under the age of 18 applying for a checking account must have an adult co-owner (18 years of age or older) on the account. Rates are subject to change. APY is accurate as of 10/31/2019. Fees may reduce earnings.
FB Alerts, our new debit card fraud alert system, keep an eye on your transactions. If we see something unusual, we will ask you to confirm the purchase. You get a text asking if you made the purchase. You reply with a text back. It’s simple, quick and easy.