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 Statement
or Passbook Savings Account
A variable rate non-term savings account for customers who may require
ready access to their funds. There is no monthly maintenance fee
when the minimum daily balance of $500 is maintained. A monthly
statement is generated when the Statement Savings Account is combined
with a First Northern Bank checking account.
Minor's Savings Account
A variable rate, non-term savings account for customers under 18 years
of age. The minor must be either a joint tenant on the account
or the beneficiary of a trust. There is no monthly maintenance
fee or minimum balance requirement for this account.
Holiday Club Account
A variable interest rate account designed to provide customers with an
easy way to set aside money for the holiday season and year-end
purchases. Monthly or bi-monthly automatic transfers are made to
the Holiday Club Account from a designated First Northern Bank
checking account.
Money Market Investment Account
A savings account that offers variable, tiered money market interest
rates. The Money Market Investment Account offers limited
check-writing and pre-authorized withdrawal access to savings funds.
There is no monthly maintenance fee when the minimum daily balance of
$2,500 is maintained. Customers will receive monthly statements
detailing activity and earnings for the account.
Certificates of Deposit (CD)
A term savings account with a tiered interest rate structure offering
higher rates for longer terms and larger deposits. Customers are
offered a variety of open deposits and established terms. First
Northern Bank offers two types of FDIC insured CD Accounts:
Automatic
Renewable Certificates are automatically renewed at the
interest rate in effect at the time of maturity.
Fixed Term Certificates
are accounts that earn interest through a specified maturity date
and are closed there after.
Interest can be paid monthly,
quarterly, semi-annually, annually or at maturity; it can be added to
the CD, transferred to a checking or savings account , or paid via
cashiers check.
Individual Retirement Accounts
Customers who are interested in setting aside money for a financially
secure retirement will definitely be attracted to First Northern's
no-fee IRA's. You may select from four First Northern Bank IRA
plans. |
