-Personal Deposit Accounts-
Regular Checking
- You must deposit $200.00 to open this account
- Unlimited check writing
- VISA ATM/Debit card available with credit approval
- $3.00 maintenance fee plus a transaction fee of $.15 per debit to this account if the average daily balance drops below $500.00 for the monthly statement cycle
- Free online banking with Bill Pay
- This account receives a monthly statement with images of cleared checks
N.O.W. Account
- You must deposit $300.00 to open this account
- Interest is compounded and credited to your account monthly
- Interest is paid on this account if the average daily balance is $300.00 or more per monthly statement cycle. The interest rate is variable.
- Unlimited check writing
- VISA ATM/Debit card available with credit approval
- $3.00 maintenance fee plus a transaction fee of $.15 per debit to this account if the average daily balance drops below $500.00 for the monthly statement cycle
- Free online banking with Bill Pay
- This account receives a monthly statement with images of cleared checks
Super N.O.W. Account
- You must deposit $2,500.00 to open this account
- Interest is compounded and credited to your account monthly
- Interest is paid on this account if the average daily balance is $300.00 or more per monthly statement cycle. You must maintain an average daily balance of $2,500.00 each month to earn the disclosed annual percentage yield. The interest rate is variable.
- $3.00 maintenance fee plus a transaction fee of $.15 per debit to this account if the average daily balance drops below $500.00 for the monthly statement cycle
- Unlimited check writing
- This account receives a monthly statement with images of cleared checks
- Free online banking with Bill Pay
- VISA ATM/Debit card available with credit approval
Money Market Account
- You must deposit $2,500.00 to open this account
- Interest is compounded and credited to your account monthly
- Interest is paid on this account if the average daily balance is $300.00 or more per monthly statement cycle. You must maintain an average daily balance of $2,500.00 each month to earn the disclosed annual percentage yield. The interest rate is variable.
- You may not make more than six preauthorized, automatic, or telephone transfers each month with no more than three of these by check, draft or similar order to third parties
- $3.00 maintenance fee plus a transaction fee of $.15 per debit to this account if the average daily balance drops below $500.00 for the monthly statement cycle
- This account receives a monthly statement with images of cleared checks
- VISA ATM/Debit card available with credit approval
- Free online banking
Student Checking Account
- This account has the same features as our Regular Checking Account except there are no maintenance or transaction fees or no minimum balance requirements. You must be a fulltime student with Parents maintaining active accounts with First Federal Bank.
Senior Checking Account
- This account is available to our customers age 55 or over.
- This account has the same features as our Regular Checking Account except there are no maintenance or transaction fees or no minimum balance requirements.
- Plain wallet style checks are provided free.
- This account is also available as an interest bearing “N.O.W.” account. Normal service charges and minimum balance requirements will apply.
Passbook Savings Account
- You must deposit $50.00 to open this account
- Interest is compounded and credited to your account quarterly.
- A maintenance fee of $3.00 will be imposed each quarterly statement cycle the average daily balance falls below $50.00.
- Accounts with more than six withdrawals per calendar quarter are service charged $1.00 for each additional withdrawal.
- The interest rate on this account is variable.
Statement Savings Accounts
- You must deposit $50.00 to open this account
- Interest is compounded and credited to your account quarterly
- A maintenance fee of $3.00 will be imposed each quarterly statement cycle the average daily balance falls below $50.00.
- Accounts with more than six withdrawals per calendar quarter are service charged $1.00 for each additional withdrawal.
- This account receives a quarterly statement.
- The interest rate on this account is variable.
Certificates of Deposit
First Federal Bank certificates of deposit are designed to give you a higher rate of return in exchange for various term commitments on your deposit. Our certificate of deposit terms range from 91 days to 5 years and require a minimum deposit of $500.00 to open. Interest is compounded quarterly and is paid or credited quarterly and at maturity on accounts with a term of six months or longer. All certificates of deposit accounts are designed to renew automatically at maturity. Penalties ranging from loss of 30 days to six months interest may be imposed for withdrawals of principal before the maturity date. See our Rates page for terms and rates we are currently offering. Please contact a new accounts representative at 256-845-1077 for additional information.
Individual Retirement Accounts (IRA’s)
First Federal Bank offers a selection of retirement accounts. Customers may choose from a Traditional IRA or Roth IRA on the same deposit terms as our Certificates of Deposit. Please consult with your tax advisor concerning advantages and limitations based on your personal circumstances.
-Business Deposit Accounts-
Business Checking Account
- You must deposit $200.00 to open this account
- Unlimited check writing
- No charge for deposits posted
- $3.00 maintenance fee plus a transaction fee of $.15 per debit to this account if the average daily balance drops below $500.00 for the monthly statement cycle
- This account receives a monthly statement with images of cleared checks
- VISA ATM/Debit card available with credit approval
- Free online banking
Business N.O.W. Account (Restrictions apply)
- This account is only available for Sole Proprietors, Non-Profit Entities, and Governmental Entities as prescribed by law.
- You must deposit $300.00 to open this account
- Unlimited check writing
- No charge for deposits posted
- Interest is compounded and credited to your account monthly
- Interest is paid on this account if the average daily balance is $300.00 or more per monthly statement cycle. The interest rate is variable.
- $3.00 maintenance fee plus a transaction fee of $.15 per debit to this account if the average daily balance drops below $500.00 for the monthly statement cycle
- This account receives a monthly statement with images of cleared checks
- VISA ATM/Debit card available with credit approval
- Free online banking
Business Super N.O.W. Account (Restrictions Apply)
- This account is only available for Sole Proprietors, Non-Profit Entities, and Governmental Entities or as prescribed by law.
- You must deposit $2,500.00 to open this account
- Unlimited check writing
- No charge for deposits posted
- Interest is compounded and credited to your account monthly
- Interest is paid on this account if the average daily balance is $300.00 or more per monthly statement cycle. You must maintain an average daily balance of $2,500.00 per monthly statement cycle to earn the disclosed annual percentage yield. The interest rate is variable.
- $3.00 maintenance fee plus a transaction fee of $.15 per debit to this account if the average daily balance drops below $500.00 for the monthly statement cycle
- This account receives a monthly statement with images of cleared checks
- VISA ATM/Debit card available with credit approval
- Free online banking
Business Money Market Account (Limited Transactions)
- You must deposit $2,500.00 to open this account
- Interest is compounded and credited to your account monthly
- Interest is paid on this account if the average daily balance is $300.00 or more per monthly statement cycle. You must maintain an average daily balance of $2,500.00 each month to earn the disclosed annual percentage yield. The interest rate is variable.
- You may not make more than six preauthorized, automatic, or telephone transfers each month with no more than three of these by check, draft or similar order to third parties
- $3.00 maintenance fee plus a transaction fee of $.15 per debit to this account if the average daily balance drops below $500.00 for the monthly statement cycle
- This account receives a monthly statement with images of cleared checks
- VISA ATM/Debit card available with credit approval
- Free online banking
Business Certificates of Deposit (CD’s)
Business CD’s are offered on the same rates and terms as our personal CD’s. Please visit our Rates page for terms and rates currently offered or call one of our new accounts representatives at 256-845-1077 for additional information.
-LOANS-
First Federal Bank offers a variety of loan programs tailored to suit your needs with competitive rates and terms. Since we are locally owned and operated we have a sincere interest in our local community and the customers we serve. We strive to give you prompt and courteous answers to your loan needs since all loan decisions are made locally. The following loan types are offered by First Federal Bank:
Consumer Loans
- New and used vehicles
- Boats and Motorcycles
- Recreational Vehicles
- Other loan types tailored to meet your need
Real Estate (Mortgage) Loans
- Home Purchase Loans ( Adjustable & Fixed Rates with Terms to 30 years)
- Refinance Loans (Adjustable & Fixed Rates with Terms to 30 years)
- Construction Loans
- Home Improvement Loans
- Home Equity Loans
- Land Loans
Commercial/Business Loans
- Conventional and SB
- Working Capital & Operating Lines of Credit
- Equipment Loans (Includes Commercial Vehicles)
- Commercial Real Estate (Owner Occupied & Investment)
- Land Development
- Letters of Credit
Agricultural Loans
- Farm Equipment Loans
- Farm Land and Buildings
Please call one of our loan professionals at 256-845-1077 or visit our Fort Payne office for rate information and to learn more about any of our loan programs.
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