Savings Accounts

We’re here to help you save! Meet your goals with the account right for you. Contact us to talk through your options.

Open Now Visit Us – about Savings Accounts

Jump to a section:

Christmas Club

Make shopping for Christmas gifts stress free!

  • Minimum to open: $00
  • Free to set up
  • No monthly fee
  • View it through Online and Mobile Banking

Christmas is a magical time of year. It’s also an expensive one. Setting up a Christmas Club Savings Account can help ease your financial responsibility.

It works like a basic savings account where you can deposit funds from your checking account throughout the year. The main difference is that you don’t have a debit card, and you can only view the account online. This helps encourage you to keep the money set aside for its intended use.

As a community bank, we’re committed to truly supporting you. The Christmas Club Savings Account is a great example of how we strive to meet all your financial needs. Stop in at your local branch, and we’ll get you set up!

Visit Us 

Health Savings Account

Did you know you can choose First Mutual Bank for your Health Savings Account (HSA)? You can! 

  • Minimum to open: $50
  • Set up is $10
  • No monthly fee 
  • View it through Online and Mobile Banking 
  • Free monthly eStatements
  • Use to pay qualified medical expenses
  • Receive a debit/ATM card

Good News! If you have qualifying high-deductible health insurance coverage, you’re eligible for a HSA. You can open your account with us and enjoy both competitive rates and the mutual bank difference.

Opening a health saving account can be one of the wisest financial decisions you make. The money in the account bears interest, and you can withdraw funds at any time for qualified medical expenses. Plus, qualified contributions are generally tax-deductible. That means you can grow your savings tax-free.

As a mutual bank, we reinvest your funds to support our local communities. It’s banking with a purpose. 

Contact us today to learn more about our HSA option.

As of 11/18/2024

Annual Percentage Yield (APY)*Interest Rate

Balances under $25,000 – 0.25%; Balance $25,000 to $49,999- 0.35%;

Balances of $50,000 or more 0.50%

Balances under $25,000 – 0.25%; Balance $25,000 to $49,999- 0.35%;

Balances of $50,000 or more 0.50%;

Open Now – Health Savings AccountVisit Us 

Select Money Market

Ready for more? Enjoy a higher interest rate with the Select Money Market savings account.

  • Minimum to open: $10,000
  • Free to set up
  • When your average daily balance is at least $10,000, there is no monthly fee
  • When your average daily balance falls below $10,000, there’s a monthly fee of $10
  • Free online banking and mobile banking app
  • Free monthly eStatements
  • Receive a debit/ATM card

Savings accounts can do more than store money for special purchases — they’re part of a wealth-building strategy. The Select Money Market account is a step in that direction. When you’re able to save at least $10,000, this may be your best choice.

Unlike a basic savings account, a money market account offers the best of both worlds: higher interest rates and easy access to your money. You earn a more competitive interest rate compared to a regular savings account, meaning your savings works harder for you.

Whether you’re saving for a dream vacation, a down payment on a home, or simply building a rainy-day fund, a Select Money Market account is a trusted tool in building a more financially secure future.

As of 11/18/2024

Annual Percentage Yield (APY)*Interest Rate

Balances under $25,000 – 0.05%; Balances $25,000 to $99,999 – 0.20%;

Balances of $100,000 or more – 0.40%

Balances under $25,000 – 0.05%; Balances $25,000 to $99,999 – 0.20%;

Balances of $100,000 or more – 0.40%

*Interest rates and Annual Percentage Yield (APY) are subject to change. Fees could reduce earnings.

Open Now – Select Money MarketVisit Us 

Statement Savings

A savings account for everyone! 

  • Minimum to open: $50
  • Free to set up
  • When your average daily balance is at least $100, there is no monthly fee 
  • When your average daily balance falls below $100, there’s a monthly fee of $1
  • Access it through Online and Mobile Banking app
  • Free monthly eStatements

Everyone can start saving with the Statement Savings Account. The more you keep in the account, the more your money grows! If you’re just starting out, this may be your ideal account. It keeps things simple and allows you to start saving immediately. 

If you’re looking to maintain a balance of at least $10,000, you’ll want to check out our Money Market Accounts. 

As of 11/18/2024

BalanceAnnual Percentage Yield (APY)*Interest Rate
under $25,0000.05%0.05%
$25,000 to $49,9990.10%0.10%
$50,000 to $99,9990.15%0.15%
$100,000 or more0.25%0.25%

*Interest rates and Annual Percentage Yield (APY) are subject to change. Fees could reduce earnings.

Open Now – Statement SavingsVisit Us 

    Banking On the Go 

    Have you checked out our upgraded Online and Mobile Banking services? Banking on the go is more convenient and secure than ever.

    Visit Now 

    Meeting Your Financial Needs

    Find the mortgage that fits your needs.

    Buying a home is exciting — and scary. Choose from one of our multiple loan options featuring competitive rates. Our Mortgage Loan Originators give you personalized advice and walk you through the process.
    Learn More about mortgages

    Save with Confidence

    Want to learn more? We have articles, videos and resources to help you save with confidence.

    What’s Your Password Strategy?

    Some people have one password strategy: a bad one. It is not a good idea to use the same default password for all your accounts. If you have not put…
    View Resource

    What Is a Credit Reference?

    If you’re looking to borrow money or rent an apartment, typically, you’ll need a credit reference. Credit references demonstrate an applicant’s ability to make timely payments. What Is a Credit…
    View Resource

    Budgeting For Your Big Day

    Most people do not want to start their marriage off with unnecessary debt. Yet, in 2022 in the U.S., the average wedding cost was $27,000, according to The Wedding Report.…
    View Resource

    Are Paper Checks Still Relevant?

    With the rise of debit cards, paper checks can seem slow and outdated. After all, checks work much like a debit card, allowing the recipient to redeem the check for…
    View Resource

    Taking a ‘Staycation’

    When you are trying to manage your money wisely and live within a budget, the traditional vacation might not be within reach for you. Between airfare, hotels, dining out, and…
    View Resource

    Factors That Impact Life Insurance Premiums

    Different factors will determine what you pay for life insurance premiums. This can confuse many individuals when they are trying to understand why their premiums are higher than others. Below…
    View Resource

    Taking Care of Elderly Parents

    After they spent at least 18 years taking care of you at the beginning of your life, there’s a good chance you’ll end up helping take care of your parents…
    View Resource