Savings

INFIR$T REWARD$
Savings Account

INFIR$T REWARD$
Savings Account

INFIR$T REWARD$ Savings Account

Saving money should be easy and it can be, thanks to the INFIR$T REWARD$ Savings Account. This is a high-interest account that is linked to an INFIR$T REWARD$ Cash Checking or an INFIR$T REWARD$ Cash Back Checking account.

If your INFIR$T REWARD$ Cash or INFIR$T REWARD$ Cash Back account qualifies*, then your INFIR$T REWARD$ Savings qualifies!

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*Qualifications:

Qualifying for the INFIR$T REWARD$ Cash checking account or INFIR$T REWARD$ Cash Back checking account automatically qualifies you for the INFIR$T REWARD$ Savings rate. To earn these rewards, simply do the following during the monthly qualification cycle:

  • Have 12 POS debit card purchases post and settle during the statement cycle.
  • Be enrolled and receive your monthly account statement electronically.
  • Have at least one direct deposit or one ACH automatic payment post and settle to your account per monthly qualification cycle.

View our Current Qualification Calendar

If you don’t qualify for rewards, you’ll still earn 0.05% APY interest and incur no service charges! And when you do qualify, you’ll automatically start earning the additional rewards again!

**APY=Annual Percentage Yield
Rate is effective as of 05/16/2023

Disclosure

Current Rates

Our Market Area

Disclosure

INFIRST REWARD$ SAVINGS – Truth in Savings Disclosure

You must have a new or existing INFIR$T REWARD$ Cash Checking or INFIR$T REWARD$ Cash Back Checking account to open an INFIR$T REWARD$ Savings.

Qualifications – To qualify for the INFIR$T REWARD$ Savings preferred rates you must meet the requirements listed below during the monthly qualification cycle in your INFIR$T REWARD$ Cash Checking or INFIR$T REWARD$ Cash Back Checking account. “Monthly Qualification Cycle” means a period beginning the first day of the current statement cycle through the close of the current statement cycle.

    • Debit Cards: 12 debit card purchase transactions must post and settle to your account per monthly qualification cycle. Only debit card transactions processed by merchants and received by the bank as Point of Sale (POS) transactions count towards qualifying debit card transactions. ATM transactions and transfers do not count towards qualifying debit card transactions.
    • Electronic Statements: Be enrolled and receive your monthly account statement electronically.  Contact us for details on how to enroll.
    • Direct Deposit or ACH payment: One direct deposit or one ACH automatic payment must post and settle to your account per monthly qualification cycle.


Rate Information –

  • Preferred (balance cap) rate: When the INFIR$T REWARD$ Cash Checking or INFIR$T REWARD$ Cash Back Checking qualifications are met, if your INFIR$T REWARD$ Savings daily balance is $100,000 or less, the entire balance will earn an interest rate of 1.795% with an annual percentage yield (APY) of 1.80%.
  • Above balance cap rate: When the INFIR$T REWARD$ Cash Checking or INFIR$T REWARD$ Cash Back Checking qualifications are met, balances up to $100,000 in INFIR$T REWARD$ Savings receive a 1.80%APY; and balances over $100,000 in INFIR$T REWARD$ Savings receive an interest rate of 1.995% and an APY of 2.00% on the portion of the balance over $100,000, resulting in an APY between 1.80% and 1.92% assuming a maximum balance of $250,000 and blending the tier rates.
  • Base rate: When qualifications of  INFIR$T REWARD$ Cash Checking or INFIR$T REWARD$ Cash Back Checking are not met, the entire balance in your INFIR$T REWARD$ Savings account will be paid a 0.05% interest rate with an 0.05% APY.

Your interest rate and annual percentage yield may change at any time at the Bank’s discretion.

This is a blended tiered rate account that pays a high rate of interest, as well as a second-tier rate of interest if you meet the qualifications in for INFIR$T REWARD$ Cash Checking or INFIR$T REWARD$ Cash Back Checking account, and pays a lower rate of interest if you do not meet the qualifications for INFIR$T REWARD$ Cash Checking or INFIR$T REWARD$ Cash Back Checking account.

Inactivity Fee – If a checking account has less than a $100 balance and no transactional activity for a consecutive 12-month period, an inactivity fee of $5.00 per month will be assessed.
Dormant Account Fee – If no activity has occurred on the account after 24 months, a fee of $5.00 per month will be assessed.
Fee Schedule – You can view the fee schedule HERE or you can request a copy at any branch locations.
Fees may reduce earnings.
Daily 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.
Accrual of interest on non-cash deposits: Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
Compounding and crediting frequency: Interest will be compounded every month. Interest will be credited to your account on the last day of your statement cycle.
Minimum balance to open and earn interest – You must deposit $.01 to open this account and maintain a minimum balance of $.01 to earn interest.
Effect of closing account – If you close your account before interest is credited, you will not receive the accrued interest.
Additional Terms – The INFIR$T REWARD$ Savings account is only offered in conjunction with either the INFIR$T REWARD$ Cash Checking or INFIR$T REWARD$ Cash Back Checking account. In the event that you close your INFIR$T REWARD$ Cash Checking or INFIR$T REWARD$ Cash Back Checking account, we reserve the right to close your INFIR$T REWARD$ Savings account or transfer it to a statement savings account.