At First Federal we provide several types of commercial checking accounts to fit the needs of our individual commercial customer. To learn more, click on any of the account types below. Should you
have any questions, please contact
us.
Corporations,
Partnerships, and LLCs:
Small
Business Checking Account
| · Minimum
Opening Deposit: |
$
100.00 |
| · Monthly
Service Charge: |
$
6.00 |
| · Minimum
balance to avoid service charge: |
$1,000.00 |
| · Number
of free debits allowed: |
50 |
| · Charge
per excess debit: |
15¢ |
| · Number
of free deposited items allowed: |
200 |
| · Charge
per excess deposited item: |
5¢ |
See Our Checking
Accounts Comparison Chart
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Regular
Business Checking Account
| · Minimum
Opening Deposit: |
$
100.00 |
| · Monthly
Service Charge: |
$8.00 |
| · Minimum
balance to avoid service charge: |
$2,500.00 |
| · Number
of free debits allowed: |
200 |
| · Charge
per excess debit: |
15¢ |
| · Number
of free deposited items allowed: |
500 |
| · Charge
per excess deposited item: |
5¢ |
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Accounts Comparison Chart
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Analysis Checking Account
| · Minimum
Opening Deposit: |
$
100.00 |
| · Monthly
Service Charge: |
$
10.00 |
| · Charge
per check processed (debit): |
10¢ |
| · Charge
per ACH item (debit): |
5¢ |
| · Charge
per deposit: |
20¢ |
| · Charge
per deposited item (credit) |
|
|
On-Us
- |
2.5¢ |
|
Local
- |
5¢ |
|
Non-local
- |
7.5¢ |
| · Cash
deposit charge: |
75¢ per
$1,000 |
| · Cash
purchase charge: |
75¢ per
$1,000 |
| · Earnings
Credit: |
|
|
|
Earnings
calculation: (collected balance less reserve requirement)
x (monthly average Fed Funds less .50%) |
| |
Reserve
requirement: 10% of collected balance |
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Accounts Comparison Chart
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Sole
Proprietors:
Small
Business with Interest
| · Minimum
opening deposit: |
$
100.00 |
| · Monthly
service charge: |
$
6.00 |
| · Minimum
balance to avoid service charge: |
$1,000.00 |
| · Number
of free debits allowed: |
50 |
| · Charge
per excess debit: |
15¢ |
| · Number
of free deposited items allowed: |
200 |
| · Charge
per excess deposited item: |
5¢ |
| · Interest
earned on average balance of $700 or more |
See Our Checking
Accounts Comparison Chart
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Regular Business Checking Account
| · Minimum
Opening Deposit: |
$
100.00 |
| · Monthly
Service Charge: |
$8.00 |
| · Minimum
balance to avoid service charge: |
$2,500.00 |
| · Number
of free debits allowed: |
200 |
| · Charge
per excess debit: |
15¢ |
| · Number
of free deposited items allowed: |
500 |
| · Charge
per excess deposited item: |
5¢ |
| · Interest
earned on average balance of $700 or more |
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Accounts Comparison Chart
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No Fee Checking Account
| · Minimum
Opening Deposit: |
$
100.00 |
| · Monthly
Service Charge: |
FREE |
| · No
minimum balance required |
|
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Accounts Comparison Chart
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Non-Profit
Associations
| · Minimum
Opening Deposit: |
$
100.00 |
| · Monthly
Service Charge: |
$
6.00 |
| · Minimum
balance to avoid service charge: |
$
100.00 |
| · Interest
earned on average balance of $700 or more |
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Accounts Comparison Chart
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The following charges will apply to services provided
to business accounts and will be charged to the account.
| · Overdraft
items: |
$25.00
each item |
| · Non-sufficient
Fund items: |
$25.00
each item |
| · Return
items: |
$2.50
each item |
| · Stop
Payment: |
$25.00
each item |
| · Wire
Transfers: |
|
| |
Incoming
- |
$
5.00 |
| |
Domestic
Outgoing - |
$15.00 |
| |
International
Outgoing - |
$40.00 |
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Accounts Comparison Chart
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