Savings Rates

Effective 2.1.2015

Savings Account| Holiday Club| 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
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2 Minimum balance for Regular Savings Account is $10.00.

Holiday Club Account
APY1 Dividend Rate Daily Balance3
0.20% 0.20% All Balances
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3 There is no minimum balance for the Holiday Club Account.

SavingsPlus Account
APY1 Dividend Rate4 Daily Balance
0.65% 0.65% $1 to $4,999
0.80% 0.80% $5,000 and up
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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 Depost. For current rates, please contact us. 
4 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. (f) If you do not meet these conditions, you will receive the rate shown under “Savings Plus (without bonus rate)”

Savings Plus (Without Bonus Rate)
APY1 Dividend Rate Daily Balance
0.15% 0.15% $1 to $4,999
0.25% 0.25% $5,000 and up
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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
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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
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Premier and 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
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Certificate of Deposit (CD) and IRA Certificates
APY1 Dividend Rate Daily Balance
6 Month5 0.30% 0.30% $1,000 to $9,999
0.30% 0.30% $10,000 to $49,999
0.30% 0.30% $50,000 to $99,999
0.35% 0.35% $100,000 and up
12 Month 0.40% 0.40% $1,000 to $9,999
0.40% 0.40% $10,000 to $49,999
0.45% 0.45% $50,000 to $99,999
0.50% 0.50% $100,000 and up
24 Month 0.65% 0.65% $1,000 to $9,999
0.65% 0.65% $10,000 to $49,999
0.65% 0.65% $50,000 to $99,999
0.70% 0.70% $100,000 and up
36 Month 0.80% 0.80% $1,000 to $9,999
0.80% 0.80% $10,000 to $49,999
0.80% 0.80% $50,000 to $99,999
0.85% 0.85% $100,000 and up
48 Month 1.06% 1.05% $1,000 to $9,999
1.06% 1.05% $10,000 to $49,999
1.06% 1.05% $50,000 to $99,999
1.11% 1.10% $100,000 and up
60 Month 1.31% 1.30% $1,000 to $9,999
1.31% 1.30% $10,000 to $49,999
1.31% 1.30% $50,000 to $99,999
1.36% 1.35% $100,000 and up
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5 IRA Certificates of Deposit available for terms 12 months or greater.

 

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 Depost. For current rates, please contact us.