Personal Investment Products

Certificates of Deposit (CDs)

A Certificate of Deposit (CD) is a no-risk way to take advantage of high-interest rates. Investing in a CD is simple. Just keep your money deposited for a predetermined period of time and earn interest at a level associated with that term. The longer you keep your funds invested, the more you’ll earn. First Federal offers a variety of CDs to fit your needs, from 30-day deposits to long-term, 60-month investments.

• CDs range from 30 days to 6 months
• $500 minimum required to open an account
• Contact your local branch for rates
•  Interest can be transferred to a checking, savings, or added to the CD balance
• Substantial penalty for early withdrawal

Individual Retirement Accounts (IRAs)

It’s never too early to start saving for retirement. Let First Federal Bank help! We offer three types of individual retirement accounts (IRAs) tailored around each person, to help you maximize your retirement savings strategy.

• Traditional: Traditional IRAs involve tax-deferred contributions, allowing your money to grow quickly while it’s invested. You’ll pay taxes on future distributions.
• Roth: Roth IRAs involve after-tax contributions, which means your money grows tax-free over time. You won’t pay any taxes on future distributions.
• SEP: A Simplified Employee Pension plan allows employers to contribute to traditional IRAs (SEP-IRAs) set up for employees. A business of any size, even self-employed, can establish a SEP.

Our friendly team of banking professionals will help you decide which IRA is right for you. We can help you understand the contribution limits, tax considerations, and benefits for each type. All accounts require a $100 minimum contribution or rollover to open. Contact your local branch for rates. Minimum deposit of $500 to open account