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*Interest rates and Annual Percentage Yield (APY) are subject to change. Fees could reduce earnings.
⭐Perfect for a wealth-building strategy
Earn a higher interest rate on your balance to make your money work harder for you.
Savings accounts can do more than store money for special purchases — they’re part of a wealth-building strategy. The Select Money Market account is a step in that direction. When you’re able to save at least $10,000, this may be your best choice.
Unlike a basic savings account, a money market account offers the best of both worlds: higher interest rates and easy access to your money. You earn a more competitive interest rate compared to a regular savings account, meaning your savings works harder for you.
Whether you’re saving for a dream vacation, a down payment on a home, or simply building a rainy-day fund, a Select Money Market account is a trusted tool in building a more financially secure future.
As of 4/26/2025
| Balance | Annual Percentage Yield (APY)* | Interest Rate |
|---|---|---|
| under $25,000 | 0.35% | 0.35% |
| $25,000 to $99,999 | 0.60% | 0.60% |
| $100,000 to $249,999 | 0.70% | 0.70% |
| $250,000 or more | 0.80% | 0.80% |
*Interest rates and Annual Percentage Yield (APY) are subject to change. Fees could reduce earnings.
⭐The fastest growth option for higher balances
If you’re able to maintain a larger balance, you can qualify to earn our highest interest rate!
Your wealth-building strategy gets its biggest boost in our Money Market Special account. Your money grows at its fastest in this account. When you’re able to save at least $25,000, this may be the account for you.
There’s an added bonus— as a mutual bank, we reinvest your investments directly back into the communities we serve. This means while your money earns you interest, it’s helping your neighbors advance their goals whether it’s buying a home or building a business.
As of 4/26/2025
| Balance | APY* | Interest Rate* |
|---|---|---|
| $0.01 – $24,999 | 0.35% | 0.35% |
| $25,000 or more | 3.75% | 3.69% |
*Interest rates and Annual Percentage Yield (APY) are subject to change. Fees could reduce earnings.
**Promotional rates available for new money only. New money is defined as money not currently on deposit with the bank.
⭐Save for future medical expenses
Did you know you can choose First Federal Lakewood for your Health Savings Account (HSA)? Qualified contributions are generally tax-deductible so you can grow your savings tax-free.
Good News! If you have qualifying high-deductible health insurance coverage, you’re eligible for a HSA. You can open your account with us and enjoy both competitive rates and the mutual bank difference.
Opening a health saving account can be one of the wisest financial decisions you make. The money in the account bears interest, and you can withdraw funds at any time for qualified medical expenses. Plus, qualified contributions are generally tax-deductible. That means you can grow your savings tax-free.
As a mutual bank, we reinvest your funds to support our local communities. It’s banking with a purpose.
Contact us today to learn more about our HSA option.
As of 4/26/2025
| Balance | Annual Percentage Yield (APY)* | Interest Rate |
|---|---|---|
| under $2,500 | 0.10% | 0.10% |
| $2,500 to $4,999 | 0.15% | 0.15% |
| $5,000 or more | 0.20% | 0.20% |
*Interest rates and Annual Percentage Yield (APY) are subject to change. Fees could reduce earnings.
Statement Savings | Select Money Market | Money Market Special** | Health Savings | |
|---|---|---|---|---|
| Account Overview | A simple, accessible savings account | Earn higher interest when you maintain at least a $10,000 average daily balance. | Qualify for our highest interest rate when you maintain at least a $25,000 average daily balance. | Earn interest on savings you can withdraw tax-free for qualified medical expenses. |
| Open Online | ||||
| Minimum Opening Balance | $10 | $10,000 | $25,000 | $50 |
| Set-up Fee | None | None | None | $10 |
| Monthly Fee | $1 — waived if average daily balance is at least $100 | $10 — waived if average daily balance is at least $10,000 | $15 — waived if average daily balance is at least $25,000 | None |
| APY* | Balances under $15,000 - 0.05%; Balances $15,000 to $24,999 - 0.15%; Balances $25,000 or more - 0.20% | Balances under $25,000 - 0.35%; Balances $25,000 to $99,999 - 0.60%; Balances $100,000 to $249,999 - 0.70%; Balances $250,000 or more - 0.80% | Balances $0.01 to $24,999 - 0.35%; Balances $25,000 or more - 3.75% | Balances under $2,500 - 0.10%; Balances $2,500 to $4,999 - 0.15%; Balances $5,000 or more 0.20%. |
| Interest Rate* | Balances under $15,000 - 0.05%; Balances $15,000 to $24,999 - 0.15%; Balances $25,000 or more - 0.20% | Balances under $25,000 - 0.35%; Balances $25,000 to $99,999 - 0.60%; Balances $100,000 to $249,999 - 0.70%; Balances $250,000 or more - 0.80% | Balances $0.01 to $24,999 - 0.35%; Balances $25,000 or more - 3.69% | Balances under $2,500 - 0.10%; Balances $2,500 to $4,999 - 0.15%; Balances $5,000 or more 0.20%. |
*Interest rates and Annual Percentage Yield (APY) are subject to change. Fees could reduce earnings.
**Promotional rates available for new money only. New money is defined as money not currently on deposit with the bank.
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