FDIC-Insured - Backed by the full faith and credit of the U.S. Government
First Federal of Van Wert is upgrading our system in order to better serve our customers.
The majority of the process will start after the end of business on Thursday, April 3, 2025 through Monday, April 7, 2025**.
Click here to learn more!
*A conversion is an internal system update. First Federal will continue to remain the same locally owned and operated institution and partner that we have always been!
**Some items are scheduled to occur earlier or later than these dates. First Federal customers were mailed a full conversion document. Please refer to your packet for complete information.
FDIC-Insured - Backed by the full faith and credit of the U.S. Government
Our Statement Savings account can be opened with a minimum deposit of $10.00. Interest is paid on a monthly basis.
Statement Savings interest rates are tied to a tiered structure, determined by the balance maintained. Refer to our current Deposit Rates. You can access your funds with an ATM card and online banking.
Our Money Market account can be opened with a minimum deposit of $5,000.00. When a $5,000.00 balance is maintained daily, interest is earned with no monthly service fees. If the balance falls below this minimum during the month, there is a monthly service fee of $5.00 and no interest earned. Interest is paid on a monthly basis. Money Market interest rates are tied to a tiered structure, determined by the balance maintained. Refer to our current Deposit Rates. Our Money Market allows you to protect your cash, earn interest, and still have access to your funds when you need them. You can access your funds with an ATM card and online banking for transferring between your accounts.
Checks are not included with this product.
Our Christmas Club Account can be opened with a minimum deposit of $10.00. Interest is paid with the convenient disbursement of your funds at the end of the program. Open a Christmas Club Account today – it’s time to start saving for the holidays, shopping, a vacation, or any gift!
Set up automatic transfers to your Christmas Club account from another First Federal account to make saving convenient and easy!
Automatic transfers can easily be set up through online banking.
| Accounts | Statement Savings | Money Market | Christmas Club |
|---|---|---|---|
Accounts Opening Balance | Statement Savings
$10.00 | Money Market $5,000.00 | Christmas Club $10.00 |
Accounts Interest Paid | Statement Savings
Monthly | Money Market Monthly | Christmas Club At Maturity |
Accounts Monthly Service Fee, if below minimum balance | Statement Savings
No Monthly Service Fee | Money Market $5.00 | Christmas Club No Monthly Service Fee |
Accounts Minimum Balance to Waive Monthly Service Fee | Statement Savings
No minimum required | Money Market $5,000.00 | Christmas Club No minimum required |
First Federal offers a variety of Certificate of Deposit products to assist you in managing your money. The following convenient maturity terms are available:
A minimum deposit of $2,500.00, interest credited monthly.
A minimum deposit of $500.00, interest credited quarterly.
A minimum deposit of $2,500.00, interest credited monthly or quarterly.
See our Deposit Rates for more information. Please call our office at (419) 238-1463, our rate line at (419) 238-6485 or stop by our office! Our employees will be happy to help you with questions you may have.
First Federal also offers FDIC insured Individual Retirement Arrangements to help you save for your future retirement years. We would be happy to help you open a Traditional IRA, SEP IRA, or ROTH IRA. First Federal offers variable rate IRAs with a minimum opening deposit of $100, or fixed rate IRAs with a minimum opening deposit of $2,000.00. First Federal IRAs have no annual service fees. A detailed IRA statement will be mailed annually. For further information, or to see which IRA best meets your needs, stop in and see one of our IRA representatives. Click on this IRS website link to visit the site for detailed IRA information.
| Product | Tier | APY | Interest Rate | Compound Frequency | Minimum to Open Account |
|---|---|---|---|---|---|
Product First Federal Savings Account | Tier no | APY no | Interest Rate no | Compound Frequency no | Minimum to Open Account no |
Product no | Tier Tier 1: $0.00-$99.99 | APY 0.00% | Interest Rate 0.00% | Compound Frequency Monthly | Minimum to Open Account $10.00 |
Product no | Tier Tier 2: $100.00-$2,499.99 | APY 0.01% | Interest Rate 0.01% | Compound Frequency Monthly | Minimum to Open Account $10.00 |
Product no | Tier Tier 3: $2,500.00-$99,999.99 | APY 0.02% | Interest Rate 0.02% | Compound Frequency Monthly | Minimum to Open Account $10.00 |
Product no | Tier Tier 4: $100,000.00 | APY 0.05% | Interest Rate 0.05% | Compound Frequency Monthly | Minimum to Open Account $10.00 |
Product Money Market Account | Tier no | APY no | Interest Rate no | Compound Frequency no | Minimum to Open Account no |
Product no | Tier Tier 1: $0.00-$4,999.99 | APY 0.00% | Interest Rate 0.00% | Compound Frequency Monthly | Minimum to Open Account $5,000.00 |
Product no | Tier Tier 2: $5,000.00-$49,999.99 | APY 0.25% | Interest Rate 0.25% | Compound Frequency Monthly | Minimum to Open Account $5,000.00 |
Product no | Tier Tier 3: $50,000.00-$99,999.99 | APY 0.75% | Interest Rate 0.75% | Compound Frequency Monthly | Minimum to Open Account $5,000.00 |
Product no | Tier Tier 4: $100,000.00-$199,999.99 | APY 1.00% | Interest Rate 1.00% | Compound Frequency Monthly | Minimum to Open Account $5,000.00 |
Product no | Tier Tier 5: $200,000.00-$299,999.99 | APY 2.02% | Interest Rate 2.00% | Compound Frequency Monthly | Minimum to Open Account $5,000.00 |
Product no | Tier Tier 6: $300,000.00-$499,999.99 | APY 3.30% | Interest Rate 3.25% | Compound Frequency Monthly | Minimum to Open Account $5,000.00 |
Product no | Tier Tier 7: $500,000.00 | APY 4.33% | Interest Rate 4.25% | Compound Frequency Monthly | Minimum to Open Account $5,000.00 |
Product Christmas Club | Tier no | APY no | Interest Rate no | Compound Frequency no | Minimum to Open Account no |
Product no | Tier no | APY 0.01% | Interest Rate 0.01% | Compound Frequency Maturity | Minimum to Open Account $10.00 |
Product Health Savings Account (HSA) | Tier no | APY no | Interest Rate no | Compound Frequency no | Minimum to Open Account no |
Product no | Tier Tier 1: $0.00 - $99.99 | APY 0.00% | Interest Rate 0.00% | Compound Frequency Monthly | Minimum to Open Account $0.00 |
Product no | Tier Tier 2: $100.00 - $2,499.99 | APY 0.01% | Interest Rate 0.01% | Compound Frequency Monthly | Minimum to Open Account $0.00 |
Product no | Tier Tier 3: $2,500.00 | APY 0.02% | Interest Rate 0.02% | Compound Frequency Monthly | Minimum to Open Account $0.00 |
Product NOW Checking | Tier no | APY no | Interest Rate no | Compound Frequency no | Minimum to Open Account no |
Product no | Tier no | APY 0.01% | Interest Rate 0.01% | Compound Frequency Monthly | Minimum to Open Account $500.00 |
Penalty-free withdrawals permitted at age 59 1/2, except for direct transfers.
** Tied to 30-month interest rate.