Business Savings Accounts

At First Federal, we understand the value of solid business relationships. We recognize that your business has new opportunities and challenges daily. Because your needs are important to us, we offer a variety of Business Checking and Savings accounts. Our Customer Service Representatives are here to help you choose the best option for your needs — putting your money to work for you.


Business Savings

  • $100 minimum deposit amount to open account
  • No monthly service charge
  • Earns interest* - tiered rate
  • Limited to six withdrawals per statement cycle**


MMDA Plus

  • $1,000 minimum deposit amount to open account
  • No monthly service charge
  • Check writing privileges
  • Earns interest* - tiered rate
  • Limited to six withdrawals per statement cycle**



Effective May 11, 2018, all banks will be subject to new rules under the Bank Secrecy Act that will aid the government in the fight against crimes to evade financial measures designed to combat terrorism and other national security threats. EACH time an account is opened, or you need to make a change on an existing account for a covered Legal Entity, we will also be required to ask you for identifying information (name, address, date of birth, social security number), as well as identification documentation (Driver’s License) for:

  • EACH individual that has 25% or more Beneficial Ownership in the Legal Entity; and,
  • ONE individual that has Significant Managerial Control of the Legal Entity



* Must maintain a minimum daily balance of $5 to earn APY.
**By pre-authorized, automatic, computer, or telephone transfer. A $10.00 fee will be charged for each transaction in excess of the limit.

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