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 withdrawals.

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 minimum balance fee will be imposed every statement cycle if the average daily balance for the statement cycle falls below $300. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.

Fees


• Click here for Fee Schedule

Transaction Limitations


• 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.

Rate Information


• 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 every week

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 example, checks).

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.