Relationship Banking – Something for Everyone
Personal Accounts
Personal Checking
FreeStyle Checking
How do you beat this? No minimum balance requirement and no monthly fee! MasterCard Debit/ATM Card available upon request.
LifeStyle Checking
A special account that rewards First Bank Elk River customers for maintaining multiple accounts with our organization. Your personal checking and savings accounts, loans, lines of credit, certificates of deposit, and other investments can work together to offer additional benefits. Fall below the combined minimum balance of $10,000 and a $15 fee will be assessed at statement time.
First Friends
A special for those aged 55 years and over, featuring an interest-bearing checking account with free or discounted personalized checks. Combined minimum balance of checking, savings, and CD accounts of $1,500. Fall below the combined minimum balance and a $10 membership fee will be assessed at statement time.
HSA Checking
A Health Savings Account (HSA) is a tax-exempt custodial account established exclusively for the purpose of paying or reimbursing qualified medical expenses of you, your spouse, and your dependents. Competitive interest rates that increase as your balance increases.
| Account Features | Freestyle | Lifestyle | First Friends | HSA |
|---|---|---|---|---|
| Available to | ALL | ALL | 55 & Better | ALL |
| Minimum Opening Deposit | $50 | $50 | $50 | $25 |
| Minimum Balance to Avoid Monthly Fee | NONE | $10,000 (1) | $1,500 (2) | $1,000 (3) |
| Below Minimum Fee | NONE | $15 | $10 | $4 |
| Interest Bearing | NO | YES | YES | YES |
| Unlimited Check Writing | YES | YES | YES | YES |
| MasterCard Debit/ATM Card | YES | YES | YES | YES |
| Phone Banking | YES | YES | YES | YES |
| Internet Banking | YES | YES | YES | YES |
| No Fee Internet BillPay | YES | YES | YES | YES |
| 1/4% CD Rate Bonus | YES | YES | ||
| No Fee Cashier’s Checks | YES | YES | ||
| Ready Cash (4) | YES | YES | YES | |
| Free/discounted Checks | YES | YES | ||
| Safe Deposit Discount | YES | YES |
- Combined average collected daily balances in personal checking, savings, CD’s, loans, lines of credit, and investments of $10,000 (for loans, this means the balanced owed. For lines of credits, it means the amount advanced from the line). If the combined average collected daily balances drop below the minimum any day in the monthly statement cycle, you will pay a $15.00 fee. Assessment of fee may reduce earnings.
- Combined average collected daily balances in personal checking, savings, and CD’s of $1,500. If the combined average collected daily balances drop below the minimum any day in the monthly statement cycle, you will pay a $10.00 fee. Assessment of fee may reduce earnings.
- The account minimum balance requirement is $1,000. If the account balance drops below the minimum any day in the monthly statement cycle, you will pay a $4.00 fee. Assessment of fee may reduce earnings.
- Application subject to Approval.
Personal Savings
From Piggy Banks to Investment-Grade Money Markets
Traditional Savings
A great traditional savings account. The account has a low minimum balance requirement of $200. If your balance falls below the minimum any day during the monthly statement cycle, you’ll pay a $4.00 fee for the month.
Money Market Savings
Competitive interest rates that increase as your account balance increases. Maintain a minimum balance of $2500 to avoid a monthly fee. Fall below the minimum balance any day during the monthly statement cycle, and a $10 fee will be assessed at statement time.
Premium Money Market Savings
Investment quality rates for high balances. Maintain a minimum balance of $25,000 to avoid a monthly fee. Fall below the minimum balance any day during the monthly statement cycle, and a $15 fee will be assessed at statement time.
First Dollars Savings
Teach your children or grandchildren the value of saving. No minimum balance and no monthly fees apply until they reach their 18th birthday. Only a $25 deposit required to open this type of account.
| Account Features | Traditional | Money Market | Premium Money Market | First Dollars |
|---|---|---|---|---|
| Minimum Balance to Avoid Monthly Fee | $200.00 | $2,500.00 | $25,000.00 | NONE |
| Below Minimum Fee- assessed per statement cycle if balance falls below the above stated amount | $4.00 | $10.00 | $15.00 | NONE |
| ATM Card | YES | YES | YES | YES |
Interested in Opening an Account?
Call our customer connection at 763-241-3637 to schedule an appointment or just walk into one of our offices!
Personal Certificates of Deposit
Competitive Returns on FDIC-Insured CDs
A Certificate of Deposit (CD) is a time-based savings vehicle. It enables you to earn a higher rate of interest than a regular savings account without assuming any additional risk.
You decide how much to save for how long
You’ll typically receive a larger interest rate on CDs with higher balances and longer terms.
Terms are flexible, from 3 months up to four years.
Minimum balances as low as $500.
Get In Touch
Contact us to discuss your interest in certificates of deposit. Provide us with the basics and we’ll take care of the paperwork for you and contact you to arrange funding for your account.
