Accounts
Accounts
Checking
Savings
CDs
IRA
Money Market
First Family Federal Credit Union provides for all your banking needs. From checking to savings, to our great CD and IRA rates.
First Family Federal Credit Union provides for all your banking needs. From checking to savings, to our great CD and IRA rates.
Checking
Opening a checking account with First Family Federal Credit Union unlocks a world of opportunities. Whether it’s personal or for your business, we make your money work for you. We offer:
Personal Checking Accounts
Personal Checking accounts FREE with enrollment in e-statements.
Business Checking Accounts
Business Checking accounts provide all the financial assistance your business needs.
Pocket 10
Earn up to $10 a month for transactions made with your Debit Card.
Teen Accounts
Teen accounts available for ages 13 to 17. Checking and Savings options.
Start a checking account today!
Check out our variety of card styles.
Savings
Whether you are opening your child’s first account or planning for retirement, First Family Federal Credit Union has the right savings account for you. We offer:
| Term | Rate | APY |
|---|---|---|
| Regular Shares* | 0.40% | 0.401% |
*average daily balance over $100.00. Quarter ending December 31, 2022. Rates as of August 14, 2023.
Each member account is federally insured to at least $250,000 and backed by the full faith and credit of the United States Government.
Account Type |
Savings |
Money Market |
CD |
IRA |
Guaranteed Return |
Yes | Yes | Yes | Yes |
Liquidity of Funds |
High | Medium | Varies | Low |
Penalty for Withdrawal |
Six Free per Quarter |
Three Free per Month | Yes | Yes |
Term of Investment |
None | None | Months or Years | Yes |
Advantages |
Instant Access to Funds |
Better Interest Rate than Regular Savings & Funds are Fairly Accessible |
Best Return & Numerous Choices of Term Length | Depending on IRA Type, Either Contributions or Withdrawals are Tax Exempt |
Disadvantages |
Low-Interest Rate | $1,000 Minimum Balance Required to avoid Monthly Charges | Requires Minimum Investment Deposit, Ties up Funds for the Term of the CD; Early Withdrawl Penalties | Funds May be Tied up for Long Periods; Penalty for Early Withdrawal |
CD's
For long-term saving with a higher interest rate, consider a CD (Certificate of Deposit.)
- Accrues interest.
- 6, 12, 24, and 36-month terms available.
- Minimum $1000 deposit required.
| Term | Rate | APY* |
|---|---|---|
| 6 Months | 4.00% | 4.074% |
| 1 Year | 4.50% | 4.594% |
| 2 Year | 3.75% | 3.815% |
| 3 Year | 3.50% | 3.557% |
* $1000.00 minimum. A penalty for “early” withdrawal may be imposed. The penalty will be “no less than” 120 days dividends, whether dividends are earned or not earned. Rates as of August 14, 2023.
IRA
Plan ahead and start saving for retirement with an IRA (Individual Retirement Account).
- Traditional and ROTH IRA’s available
| Term | Rate | APY* |
|---|---|---|
| IRA Shares | 0.40% | 0.401% |
*Quarter ending December 31, 2022.
Money Market
If you’re looking to save but want a higher interest rate, ask about our Money Market Savings Accounts:
-
Dividends compounded monthly.
-
Minimum daily balance of $1,000.00 required.
-
Maximum of three withdrawals monthly before fee will be applied.
-
Each member account insured to $250,000 by administrator NCUA.
| Balance Amount* | APY |
|---|---|
| $0.01 to $24,999 | 1.65% |
| $25,000 to $49,999 | 1.75% |
| $50,000 and above | 1.85% |
* $1000.00 minimum. A penalty for “early” withdrawal may be imposed. The penalty will be “no less than” 120 days dividends, whether dividends are earned or not earned. Rates as of August 14, 2023.
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