Savings Accounts

Individuals today are always looking for the right investment choice to maximize their hard-earned dollars. At First Nations Bank we want to be sure that you are making the right decisions and earning as much as possible. From Savings Accounts to Certificates of Deposit and more…we offer a wide range of investment choices. And we’ll help you select the best alternatives to meet your current and future needs.

Our Statement Savings account earns a competitive interest rate and gives you full access to your funds. Quarterly statements are available detailing all your transactions, or for those customers with multiple accounts a monthly combined statement may be a more convenient option.

Devon and Milwaukee Locations:

Minimum opening deposit:	$100.00
Compounding and Crediting frequency:	Interest will be compounded daily and credited monthly.
Transaction Limitations:	Transfers from a Savings Account to another account or to third parties by preauthorized, automatic, telephone, computer transfer or  similar order to third parties are limited to six per monthly statement cycle.
Combined Statements:	Free.
Online Banking:	Free.
ATM Card:	Free.

Wheaton Location:

Minimum opening deposit:	$100.00
Monthly maintenance fee:	A $5.00 maintenance fee will be imposed every month if the balance in the account falls below $100.00 any day of the month.
Compounding and Crediting frequency:	Interest will be compounded daily and credited monthly.
Transaction Limitations:	Transfers from a Savings Account to another account or to third parties by preauthorized, automatic, telephone, computer transfer or  similar order to third parties are limited to six per monthly statement cycle.
Excess Service Fee:	A maintenance fee of $.50 will be charged for each withdrawal in excess of six per statement cycle.
Combined Statements:	Free.
Online Banking:	Free.
ATM Card:	Free.

Enjoy these additional valued services:

• Detailed quarterly statement
• Direct Deposit of payroll or government check
• First Connect 24-Hour Telephone Banking
• Safe Deposit Box Service
• Telephone and online transfers to and from your First Nations Bank accounts

Our Penny Savers Statement Savings account is designed to help children under the age of 18 learn the value of money through savings. With no minimum balance to maintain, this account allows children to save without the worry of fees.

Minimum opening deposit:	$25.00
Minimum balance to obtain the annual percentage yield disclosed:	None.
Monthly maintenance fee:	None.
Compounding and Crediting frequency:	Interest will be compounded daily and credited monthly.
Transaction Limitations:	Transfers from a Savings Account to another account or to third parties by preauthorized, automatic, telephone, computer transfer or similar order to third parties are limited to six per monthly statement cycle.
Fees:	None.
Combined Statements:	Free.
Online Banking:	Free.

Enjoy these additional valued services:

• Detailed quarterly statement
• First Connect 24-Hour Telephone Banking
• Telephone and online transfers to and from your First Nations Bank accounts

Rate Information:	Your interest rate and annual percentage yield may change. Frequency of rate changes: We may change the interest rate on your account at any time.
Determination of rate:	At our discretion, we may change the interest rate on your account.
Compounding and Crediting frequency:	Interest will be compounded and credited annually.
Payment of Funds:	The balance in the account will be paid by check on November 1st of every year.  If November 1st falls on a weekend, a check would be issued on the following business day.
Effect of closing account:	If you close your account before interest is credited, you will not receive the accrued interest.
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 no later than the business day we receive credit for the deposit of noncash items (for example,checks).
Maintenance fee:	A $10.00 early closure fee will be imposed if the account is closed prior to November 1st.
Transaction Limitations:	Partial withdrawals are not permitted.

 

Our Passbook Savings account earns a competitive interest rate and gives you full access to your funds.

Devon Location:

Minimum opening deposit:	$100.00
Monthly maintenance fee:	A $5.00 monthly maintenance fee will be imposed every statement cycle if the balance in the account falls below $100.00 any day of the cycle.
Compounding and Crediting frequency:	Interest will be compounded daily and credited monthly.
Transaction Limitations:	Transfers from a Passbook Savings Account to another account or to third parties by preauthorized, automatic, telephone, computer transfer or similar order to third parties are limited to six per monthly statement cycle.
Excess Service Fee:	A maintenance fee of $.50 will be charged for each withdrawal in excess of six per statement cycle.
Online Banking:	Free.

Milwaukee Location:

Minimum opening deposit:	$500.00
Monthly maintenance fee:	A $5.00 monthly maintenance fee will be imposed every statement cycle if the balance in the account falls below $100.00 any day of the cycle.
Compounding and Crediting frequency:	Interest will be compounded daily and credited monthly.
Transaction Limitations:	Transfers from a Passbook Savings Account to another account or to third parties by preauthorized, automatic, telephone, computer transfer or similar order to third parties are limited to six per monthly statement cycle.
Excess Service Fee:	A maintenance fee of $.50 will be charged for each withdrawal in excess of six per statement cycle.
Online Banking:	Free.

Certificates of Deposits (CD’s) are investment products that provide you with a guaranteed rate of return for a specified period of time. Certificates are available in varying terms. Most minimum deposits and balances to earn interest are as low as $1,000.00. A monthly interest transfer or check is available on all accounts. All certificates will be renewed subject to the renewal terms of the individual certificate. For information regarding terms and rates click here.

Individual Retirement Accounts (IRA’s) are a retirement savings plan for anyone under the age of 70 ½ with eligible earned income. It enables you to save money for retirement. Our Individual Retirement Accounts are backed by Certificates of Deposits, which provide you with a guaranteed rate of return. Types of IRA’s available are Traditional and Roth. Don’t forget IRA’s are still considered a good tax-deferred option for most people, because you pay no taxes on the income earned until the money is withdrawn – which is usually not until retirement!

However you choose to save, start early in order to provide yourself the best opportunity for a worry-free retirement.

For information regarding terms and rates click here.