First Federal Savings Bank of Frankfort
First Federal's Money Market Deposit Account are available to consumers,
businesses, and organizations. Check-writing privileges are limited
(see below) but funds are available on an unlimited basis via ATMs and in-person
Truth in Savings Account Disclosure
Money Market Deposit Account
Deposits are insured by the FDIC up to applicable limits
Rates are subject to change
Disclosure of Interest and Charges
Minimum Balance Requirements
- You must deposit $1,000 to open this account.
- A service charge will be imposed every statement cycle in which the balance falls below $300.
- You may make only 6 transfers/withdrawals per statement cycle (not including those
made in person, by mail, by telephone with check mailed to you, by messenger,
by ATM, or to repay loans to us).
- We have the right to require 7 days prior written notice from you of your
intent to withdraw any funds from your account.
- See previous page for current rate.
- Your interest rate and annual percentage yield may change.
- At our discretion, we may change the rate on your account.
Frequency of Rate Change
- We may change the rate for your account at any time
Compounding and Crediting
- Interest will be compounded on a monthly basis.
- Interest will be credited to your account on a monthly basis.
- Interest begins to accrue on the business day you deposit noncash items (for
Balance Computation Method
- We use the daily balance method to calculate the interest on your account.
- This method applies a daily periodic rate to the principal in the account each day.
Electronic Funds Transfer Limitations
- There are limits on the dollar amount of cash withdrawals you can make using
automated teller machines. You will be informed of these limits when/if
you receive your card.
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