Effective October 29, 2019.
Savings Account| SavingsPlus| SavingsPlus (w/o bonus)| IRA Variable| Money Market| Checking Account| CDs & IRAs
| SAVINGS ACCOUNT | |||
| APY1 | Dividend Rate | Daily Balance2 | |
| 0.15% | 0.15% | $1 to $999 | |
| 0.20% | 0.20% | $1,000 to $4,999 | |
| 0.20% | 0.20% | $5,000 to $24,999 | |
| 0.25% | 0.25% | $25,000 and up | |
| SAVINGSPLUS ACCOUNT | |||
| APY1 | Dividend Rate3 | Daily Balance | |
| 0.65% | 0.65% | $1 to $4,999 | |
| 0.80% | 0.80% | $5,000 and up | |
| SAVINGSPLUS (Without Bonus Rate) | |||
| APY1 | Dividend Rate | Daily Balance | |
| 0.15% | 0.15% | $1 to $4,999 | |
| 0.25% | 0.25% | $5,000 and up | |
| IRA VARIABLE | |||
| APY1 | Dividend Rate | Daily Balance | |
| 0.20% | 0.20% | $1 to $2,499 | |
| 0.20% | 0.20% | $2,500 – $9,999 | |
| 0.20% | 0.20% | $10,000 – $24,999 | |
| 0.25% | 0.25% | $25,000 and up | |
| MONEY MARKET ACCOUNT | |||
| APY1 | Dividend Rate | Daily Balance | |
| 0.00% | 0.00% | $1 to $2,499 | |
| 0.20% | 0.20% | $2,500 to $4,999 | |
| 0.20% | 0.20% | $5,000 to $24,999 | |
| 0.25% | 0.25% | $25,000 to $99,000 | |
| 0.30% | 0.30% | $100,000 to $199,999 | |
| 0.35% | 0.35% | $200,000 and up | |
| PREMIER & FIRST GEAR CHECKING ACCOUNTS | |||
| APY1 | Dividend Rate | Daily Balance | |
| 0.00% | 0.00% | $1 to $10,000 | |
| 0.10% | 0.10% | $10,000.01 and up | |
| CERTIFICATE OF DEPOSIT (CD) & IRA CERTIFICATES | |||
| APY1 | Dividend Rate | Daily Balance | |
| 6 Month CD | 0.75% | 0.75% | $1,000 to $9,999 |
| 0.75% | 0.75% | $10,000 to $49,999 | |
| 0.75% | 0.75% | $50,000 to $99,999 | |
| 0.80% | 0.80% | $100,000 and up | |
| 12 Month CD & IRA | 1.11% | 1.10% | $1,000 to $9,999 |
| 1.11% | 1.10% | $10,000 to $49,999 | |
| 1.11% | 1.10% | $50,000 to $99,999 | |
| 1.16% | 1.15% | $100,000 and up | |
| 24 Month CD & IRA | 1.51% | 1.50% | $1,000 to $9,999 |
| 1.51% | 1.50% | $10,000 to $49,999 | |
| 1.51% | 1.50% | $50,000 to $99,999 | |
| 1.56% | 1.55% | $100,000 and up | |
| 36 Month CD & IRA | 2.02% | 2.00% | $1,000 to $9,999 |
| 2.02% | 2.00% | $10,000 to $49,999 | |
| 2.02% | 2.00% | $50,000 to $99,999 | |
| 2.07% | 2.05% | $100,000 and up | |
| 48 Month CD & IRA | 2.28% | 2.25% | $1,000 to $9,999 |
| 2.28% | 2.25% | $10,000 to $49,999 | |
| 2.28% | 2.25% | $50,000 to $99,999 | |
| 2.33% | 2.30% | $100,000 and up | |
| 60 Month CD & IRA | 2.43% | 2.40% | $1,000 to $9,999 |
| 2.43% | 2.40% | $10,000 to $49,999 | |
| 2.43% | 2.40% | $50,000 to $99,999 | |
| 2.43% | 2.40% | $100,000 and up | |
| OPEN AN ACCOUNT | |||
1APY = Annual Percentage Yield. Minimum balances listed is to open an account and to earn the advertised APY. All rates and APYs are accurate as of today, and subject to change at any time. Fees may reduce earnings on accounts. A penalty will be imposed for early withdrawal from Certificates of Deposit. For current rates, please contact us.
2 Minimum balance for Regular Savings Account is $10.00.
3 In order to qualify for the SavingsPlus rate you must fulfill all the conditions below:
(a) Receive your monthly statements electronically. (b) Maintain a Michigan First Premier Checking Account. (c) Perform no more than 2 “in-person” and/or “mail-in” transactions a month. (d) Maintain a minimum of $400 deposited through Direct Deposit in any Michigan First account. (e) Use your Michigan First Debit Card 10 or more times a month for signature based purchases (transactions made online and over the phone as well as those for which you choose credit and sign the receipt are considered signature-based transactions). Debit transactions have to post within the month authorized in order to qualify for the SavingsPlus rate. If you do not meet these conditions, you will receive the rate shown under “Savings Plus (without bonus rate)”
2 Minimum balance for Regular Savings Account is $10.00.
3 In order to qualify for the SavingsPlus rate you must fulfill all the conditions below:
(a) Receive your monthly statements electronically. (b) Maintain a Michigan First Premier Checking Account. (c) Perform no more than 2 “in-person” and/or “mail-in” transactions a month. (d) Maintain a minimum of $400 deposited through Direct Deposit in any Michigan First account. (e) Use your Michigan First Debit Card 10 or more times a month for signature based purchases (transactions made online and over the phone as well as those for which you choose credit and sign the receipt are considered signature-based transactions). Debit transactions have to post within the month authorized in order to qualify for the SavingsPlus rate. If you do not meet these conditions, you will receive the rate shown under “Savings Plus (without bonus rate)”
