Federal Deposit Insurance Corporation - FDIC-Insured - Backed by the full faith and credit of the U.S. Government
Non-Profit Deposit Program
You work hard to provide a positive impact in our communities. Let InFirst help your money work harder for you!
Having a one-stop shop for your checking, savings, and long-term savings goals can make your banking easier than ever!
NON-PROFIT BUSINESS CHECKING SOLUTION
▪ Non-Profit Checking pays a current market rate of interest on your balance
▪ No minimum balance to maintain
▪ No monthly maintenance fee
NON-PROFIT MONEY MARKET SOLUTION
▪ Non-Profit Money Market pays a premium rate of interest you can count on when you also maintain a Non-Profit Checking Account(1)
▪ Tiered rates based on balance(2)
▪ Low minimum balance to avoid a monthly maintenance fee(3)
NON-PROFIT CERTIFICATE of DEPOSIT BONUS RATE
Receive a .10 basis point bonus added to any InFirst Bank Certificate of Deposit rate when you deposit $5,000 or more new money(4) into a new certificate and maintain a Non-Profit Checking(1)
It’s easy to qualify to earn premium rates!
ADDITIONAL SERVICES AVAILABLE
For more information or to open an account visit any branch, or contact our Call Center at (800)349-2814 to be connected with a New Accounts Representative.
Program Guidelines & Qualifications: APY=Annual Percentage Yield. (1) The Non-Profit Money Market (MMDA) and Certificate of Deposit (CD) bonus are offered in conjunction with the Non-Profit Checking. If the Non-Profit Checking is closed, InFirst reserves the right to move the Non-Profit MMDA to a regular Business MMDA and the bonus rate for CD’s will not apply.(2) Non-Profit MMDA Rates are variable and based on the following index; Balances less than $25,000 will earn an APY equal to 25% of the Wall Street Journal Prime rate as published; Balances of $25,000 or more will earn an APY equal to 50% of the Wall Street Journal Prime rate as published. (3) Must maintain a minimum balance of $2,500 in the MMDA to avoid a $10 monthly minimum balance fee. (4) Bonus points added to the InFirst Bank rate/term chosen as available to the public on the date of account opening. New money is defined as money that has not been on deposit in any InFirst Bank deposit account within the last 30-days. (5) To qualify as non-profit for this program, organizations must be exempt from federal income taxation. Documentation of tax-exempt status is required. Subject to change or be withdrawn at any time.
Truth in Savings Account Disclosure – Non-Profit Business Checking Account
Non-Profit Status– To qualify for the Non-Profit Checking and Non-Profit MMDA program the organization must be exempt from federal income taxation. Documentation of tax-exempt status is required.
Account limitations- Offer is not available for government, state or municipal funds. Personal accounts are not included in this product. Non-Profit business must serve and be located in our market area.
Minimum balance to open the account– You must deposit $100.00 to open this account.
Rate Information/Frequency of Rate Changes – Your interest rate and annual percentage yield may change at any time at the bank’s discretion.
Compounding and crediting frequency – Interest will be compounded every month. Interest will be credited on the last day of your statement cycle.
Minimum balance to obtain the annual percentage yield disclosed –You must maintain a minimum balance of $.01 in the account each day to obtain the disclosed annual percentage yield.
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 noncash deposits – Interest begins to accrue on the business day you deposit noncash items (for example, checks).
Minimum balance to avoid imposition of fees – This account has no minimum balance requirements.
Inactivity fee and Dormant Fees apply – Reference fee schedule for more information.
Fees may reduce earnings. Check Fee Schedule for additional fees.
Truth in Savings Account Disclosure – Non-Profit Business Money Market Deposit Account
Non-Profit Status – To qualify for the Non-Profit Checking and Non-Profit MMDA program the organization must be exempt from federal income taxation. Documentation of tax-exempt status is required.
Account limitations – Offer is not available for government, state or municipal funds. Personal accounts are not included in this product. Non-Profit business must serve and be located in our market area.
Account Qualifications – The Non-Profit Business Money Market Deposit Account is only offered in conjunction with a Non-Profit Business Checking Account. In the event the Non-Profit Business Checking Account is closed, we reserve the right to move your Non-Profit Business Money Market Deposit Account into a regular Business Money Market Account.
Minimum balance to open the account – You must deposit $2,500.00 to open this account.
Rate Information/Frequency of Rate Changes – Balances of $25,000 and above will earn 50% of WSJ Prime rate. Balances less than $25,000.00 will earn 25% of the WSJ Prime rate. This is a variable rate account. The Annual Percentage Yield (APY) will change as *WSJ Prime changes.
*WSJ Prime Rate – The Wall Street Journal Prime Rate is defined as the base rate posted by at least 70% of the nation’s largest banks. The WSJ Prime Rate is affected by the federal funds rate and is an indicator of the overall cost of money for banks and of the overall functioning of financial markets.
Compounding and crediting frequency – Interest will be compounded every month. Interest will be credited on the last day of your statement cycle.
Minimum balance to obtain the annual percentage yield disclosed – You must maintain a minimum balance of $.01 in the account each day to obtain the disclosed annual percentage yield.
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 noncash deposits – Interest begins to accrue on the business day you deposit noncash items (for example, checks).
Minimum balance to avoid imposition of fees – A service charge fee of$10.00 will be imposed every statement cycle if the balance in the account falls below $2,500.00 any day of the cycle.
Inactivity fee and Dormant Fees apply – reference fee schedule for more information.
Fees may reduce earnings. Check Fee Schedule for additional fees.
