We Offer Competitive Rates
At First Financial Northwest Operated by Global Credit Union, we understand that your financial goals are unique. That’s why we offer a suite of competitive rates on home loans, business loans, and deposit accounts to help you achieve them.
Business Rates
Our business solutions can be customized to the specific needs of your business. From large to local, we are committed to helping you find the right accounts.
Effective Date: Friday, August 29, 2025
APY = Annual Percentage Yield
Business Checking Accounts
First Preferred Business Checking**
First Business Analyzed Checking
First IOLTA Checking for Legal Professionals
** Variable interest rate – Interest rate may change after account opening – Fees/Penalties may reduce earnings.
Interest rates subject to change weekly.
APY = Annual Percentage Yield
APR = Annual Percentage Rate
*ECR = Earnings Credit Rate
Checking Account
Information and Disclosures
Rate Information – The First Business Checking account is non-interest bearing account. The First Business Analyzed Checking account is a non-interest bearing account. The First Preferred Checking interest rate is tiered. The rate is determined at the Credit Union’s discretion and may change on a weekly basis. See the Current Interest Rate Sheet for more information.
Compounding and Crediting – Interest on the First Preferred Checking will be compounded daily and credited to your account monthly. The daily computation method is used to calculate interest on your account and applies a daily periodic rate to the principal in the account each day. Interest begins to accrue on the business day you deposit non-cash items (for example, checks). If you close your account before interest is credited you will receive accrued interest.
Minimum Balance to Open Account(s) –The minimum balance to open the First Preferred checking account is $2,500.00. The minimum balance to open the First Business Checking account is $100.00. The minimum balance to open the First Business Analyzed Checking account is $100.00.
Minimum Balance to Obtain the Annual Percentage Yield Disclosed – For the First Preferred Checking refer to the current interest rate sheet for the minimum balance required to earn interest. Interest rates can be found on the Truth in Savings Disclosure received at account opening.
Minimum Balance to Avoid Imposition of Fees –The First Business Checking does not have a minimum balance to maintain. The First Preferred Checking account has a service charge fee of $10.00 that will be imposed every statement cycle if the balance falls below $2,500.00 any day of the month. The First Business Analyzed Checking account has a monthly maintenance fee of $15.00 per month that can be offset by the Earnings Credit.
Earnings Credit – The First Business Analyzed account has an Earnings Credit that can be used to offset Earned Credit Based Service Charges. Refer to the Treasury Management Price List provided by your FFNW Operated by Global Federal Credit Union banker for the list of Earned Credit Based Service Charges. The balance of Earnings Credit will not get paid to the account nor does it carry over from month to month.
Calculations and definitions for the First Business Analyzed Checking
Earnings Credit: Net Available Balance x Earnings Credit Rate1 x Actual Days in Month ÷ Actual Days in Year
Net Available Balance: Average Balance for Cycle – Float Amount for Cycle – Required Federal Reserves2 – Any Required Institution Reserves
Collected Balance Required: Earned Credit based Service Charges OR Total Charge ÷ Earnings Credit Rate1 ÷ (1-Reserve Adjustment Rate2 ) ÷ Actual days in Month ÷ Actual Days in Year
Fees and Service Charges – On the First Business Checking a fee of $0.20 will be charged for each item over 500 per month which includes checks paid, withdrawals, deposited items, ACH debits and credits. On the First Business Analyzed Checking a per-item fee is charged on certain transactions. Refer to Treasury Management Price List provided by your FFNW Operated by Global Federal Credit Union banker for details.
Monthly Statement Fee – A charge of $5.00 per month will be charged on the First Preferred Checking account if you prefer a paper statement. No charge if you sign up for eStatements.
Insufficient Funds Charge (Paid) Fee – As referenced in the Fee Schedule, may be imposed for overdrafts created by checks and by electronic means which includes but not limited to ACH pre-authorized withdrawals.
Insufficient Funds Charge (Returned) Fee – As referenced in the Fee Schedule, is imposed for but not limited to: returned items created by checks and by electronic means such as ACH pre-authorized withdrawals.
Additional Fees and Charges – Refer to the Fee Schedule for additional fees and charges that may apply. Fees may reduce the earnings on your account.
Money Market and Savings Account
Information and Disclosures
Rate Information –First Business Money Market, First Preferred Business Money Market and First Prestige Business Money Market accounts’ interest rate and Annual Percentage Yield are tiered according to your balance. The Business Savings Account interest rate and APY is non-tiered. The rates are determined at the Credit Union’s discretion and may change on a weekly basis. See the Current Interest Rate sheet for more information.
Compounding and Crediting – Interest on the First Business Money Market, First Preferred Business Money Market and First Prestige Business Money Market accounts will be compounded daily and credited to your account monthly. Interest on the Business Savings Account will be compounded daily and paid to your account monthly. The daily balance method is used to calculate interest on your account and applies a daily periodic rate to the principal in the account each day. Interest begins to accrue on the business day you deposit non-cash items (for example, checks). If you close your account before interest is credited you will receive accrued interest.
Minimum Balance to Open Account(s)/Minimum Balance to Avoid Imposition of Fees – The minimum balance required to open the accounts and avoid the imposition of fees are as follows:
First Business Money Market account is $1,000.00/$1,000.00*
First Preferred Business Money Market account is $75,000.00/$75,000.00*
First Prestige Money Market account is $500,000.00/$500,000.00*
Statement Savings account is $100.00/$1,000.00
*If balance falls below minimum any day of statement cycle.
Minimum Balance to Obtain the Annual Percentage Yield Disclosed – Refer to the Current Interest Rate sheet for minimum balance requirements applicable for each tier and the minimum balance to earn interest on the money market and savings accounts.
Fees if Minimum Balance Requirements Not Met – The fees that will be charged if the minimum balance requirements above are not met:
First Business Money Market account is $10.00
First Preferred Business Money Market account is $25.00
First Prestige Business Money Market account is $50.00
First Business Savings is $10.00
Transaction Limitations – Transfers from a money market or savings account to another account or to third parties by pre-authorized, automatic, internet, telephone, check or similar order are limited to six per statement cycle. Your savings or money market account is subject to a fee for each transaction over the limit. Please refer to the Fee Schedule.
Insufficient Funds Charge (Paid) Fee – As referenced in the Fee Schedule, may be imposed for overdrafts created by checks (for money market accounts) and by electronic means which includes but not limited to ACH pre-authorized withdrawals.
Insufficient Funds Charge (Returned) Fee – As referenced in the Fee Schedule, is imposed for but not limited to: returned items created by checks (for money market accounts) and by electronic means such as ACH pre-authorized withdrawals.
Additional Fees and Charges – Refer to the Fee Schedule for additional fees and charges that may apply. Fees may reduce the earnings on your account.
Time Accounts
Certificate Account Information and Disclosure
Rate Information – Interest rates and Annual Percentage Yields (APY) may change daily at the discretion of the Credit Union. Interest rates and Annual Percentage Yields (APY) will become effective as of the day funds are credited to your account and are fixed for the term of your account. Interest rates and Annual Percentage Yields (APY) may change after the account is opened on variable interest rate accounts.
Compounding and Crediting – Interest will be compounded daily and credited to your account monthly for terms shorter than 12 months, and quarterly for terms 12 months or longer. The annual percentage yield (APY) assumes that interest remains on deposit until maturity. A withdrawal of interest will reduce earnings. The daily balance method is used to calculate interest on your account and applies a daily periodic rate to the principal in the account each day. Interest begins to accrue on the business day you deposit non-cash items (for example, checks). If you close your account before interest is credited you will receive accrued interest.
Maturity Date: Your maturity date will be determined by the date you open your account and the term you choose. This information will be disclosed in the Truth In Savings disclosure.
Minimum Balance to Open Account(s) – The minimum balance to open a Time Account (Certificate Account /CD) is $1,000.00. Any promotional CD may have its own minimum balance
Minimum Balance to Obtain the Annual Percentage Yield Disclosed – Refer to the rate sheet for minimum balance requirements applicable for each tier and the minimum balance to earn interest on the savings account.
Time Account Withdrawal Limitations – You may make withdrawals of principal from your account before maturity, however, there will be an early withdrawal penalty. You can withdraw interest credited in the term before maturity of that term without penalty.
Time Account Early Withdrawal Penalty – An early withdrawal penalty will be imposed for withdrawals before maturity. The penalty is calculated based on the amount withdrawn and will be equal to 90 days’ simple interest for terms of 12 months or less, 180 days’ simple interest for terms of greater than 12 months but less than 48 months, and for a term of 48 or 60 months will be 365 days’ simple interest. The penalty will be calculated based on the rate being paid on the account at the time of the early withdrawal from the principal balance.
Renewal Policy – The accounts will automatically renew at maturity and you will have 10 days after the maturity date to withdraw funds without penalty. Your account will not renew if you withdraw the funds on the maturity date or if we receive written notice from you on or before the maturity date of your intention not to renew.
Renewal Terms – The renewal term will be the same as the original term, except for the 13-23 month time account which will renew to a 12-month and the 60-month time account which will renew to a 48-month term. Refer to the current rate sheet and your Truth In Savings disclosure for more information.
Renewal Interest Calculation – The interest rate will be the same that we offer on new time accounts on the maturity date for the same term. Minimum balance and other features may be changed at renewal based on the current account features for the same term.
1The Earnings Credit Rate is periodically reviewed by First Financial Northwest Operated by Global Credit Union and is subject to change at management’s discretion. Your current Earnings Credit Rate will be on your monthly statement and can also be found on FFNW Operated by Global Federal Credit Union’s website under “Business Rates.”
2The Reserve Adjustment deduction on your analyzed account statement may not necessarily reflect the actual reserves incurred by First Financial Northwest Operated by Global Credit Union
First Business Savings
Business Savings Accounts
Say Hello to Straightforward Savings for your Business
Requirements
Minimum Balance to open: $100
$1,000 Minimum daily balance to waive the $10 monthly service charge
Business Money Market Accounts
First Business Money Market
| Tier | APY |
|---|---|
| $1 - $999 | 0.00% |
| $1,000 - $4,999 | 0.01% |
| $5,000 - $24,999 | 0.05% |
| $25,000 - $99,999 | 0.20% |
| $100,000 and up | 0.25% |
First Preferred Business Money Market
| Tier | APY |
|---|---|
| $75,000 - $149,000 | 1.35% |
| $150,000 - $249,999 | 1.40% |
| $250,000 and up | 1.50% |
First Prestige Business Money Market
| Tier | APY |
|---|---|
| $500,000 - $999,999 | 1.75% |
| $1,000,000 - $1,999,999 | 2.00% |
| $2,000,000 and up | 2.50% |
** Variable interest rate – Interest rate may change after account opening – Fees/Penalties may reduce earnings.
Interest rates subject to change weekly.
APY = Annual Percentage Yield
APR = Annual Percentage Rate
*ECR = Earnings Credit Rate
Checking Account
Information and Disclosures
Rate Information – The First Business Checking account is non-interest bearing account. The First Business Analyzed Checking account is a non-interest bearing account. The First Preferred Checking interest rate is tiered. The rate is determined at the Credit Union’s discretion and may change on a weekly basis. See the Current Interest Rate Sheet for more information.
Compounding and Crediting – Interest on the First Preferred Checking will be compounded daily and credited to your account monthly. The daily computation method is used to calculate interest on your account and applies a daily periodic rate to the principal in the account each day. Interest begins to accrue on the business day you deposit non-cash items (for example, checks). If you close your account before interest is credited you will receive accrued interest.
Minimum Balance to Open Account(s) –The minimum balance to open the First Preferred checking account is $2,500.00. The minimum balance to open the First Business Checking account is $100.00. The minimum balance to open the First Business Analyzed Checking account is $100.00.
Minimum Balance to Obtain the Annual Percentage Yield Disclosed – For the First Preferred Checking refer to the current interest rate sheet for the minimum balance required to earn interest. Interest rates can be found on the Truth in Savings Disclosure received at account opening.
Minimum Balance to Avoid Imposition of Fees –The First Business Checking does not have a minimum balance to maintain. The First Preferred Checking account has a service charge fee of $10.00 that will be imposed every statement cycle if the balance falls below $2,500.00 any day of the month. The First Business Analyzed Checking account has a monthly maintenance fee of $15.00 per month that can be offset by the Earnings Credit.
Earnings Credit – The First Business Analyzed account has an Earnings Credit that can be used to offset Earned Credit Based Service Charges. Refer to the Treasury Management Price List provided by your FFNW Operated by Global Federal Credit Union banker for the list of Earned Credit Based Service Charges. The balance of Earnings Credit will not get paid to the account nor does it carry over from month to month.
Calculations and definitions for the First Business Analyzed Checking
Earnings Credit: Net Available Balance x Earnings Credit Rate1 x Actual Days in Month ÷ Actual Days in Year
Net Available Balance: Average Balance for Cycle – Float Amount for Cycle – Required Federal Reserves2 – Any Required Institution Reserves
Collected Balance Required: Earned Credit based Service Charges OR Total Charge ÷ Earnings Credit Rate1 ÷ (1-Reserve Adjustment Rate2 ) ÷ Actual days in Month ÷ Actual Days in Year
Fees and Service Charges – On the First Business Checking a fee of $0.20 will be charged for each item over 500 per month which includes checks paid, withdrawals, deposited items, ACH debits and credits. On the First Business Analyzed Checking a per-item fee is charged on certain transactions. Refer to Treasury Management Price List provided by your FFNW Operated by Global Federal Credit Union banker for details.
Monthly Statement Fee – A charge of $5.00 per month will be charged on the First Preferred Checking account if you prefer a paper statement. No charge if you sign up for eStatements.
Insufficient Funds Charge (Paid) Fee – As referenced in the Fee Schedule, may be imposed for overdrafts created by checks and by electronic means which includes but not limited to ACH pre-authorized withdrawals.
Insufficient Funds Charge (Returned) Fee – As referenced in the Fee Schedule, is imposed for but not limited to: returned items created by checks and by electronic means such as ACH pre-authorized withdrawals.
Additional Fees and Charges – Refer to the Fee Schedule for additional fees and charges that may apply. Fees may reduce the earnings on your account.
Money Market and Savings Account
Information and Disclosures
Rate Information –First Business Money Market, First Preferred Business Money Market and First Prestige Business Money Market accounts’ interest rate and Annual Percentage Yield are tiered according to your balance. The Business Savings Account interest rate and APY is non-tiered. The rates are determined at the Credit Union’s discretion and may change on a weekly basis. See the Current Interest Rate sheet for more information.
Compounding and Crediting – Interest on the First Business Money Market, First Preferred Business Money Market and First Prestige Business Money Market accounts will be compounded daily and credited to your account monthly. Interest on the Business Savings Account will be compounded daily and paid to your account monthly. The daily balance method is used to calculate interest on your account and applies a daily periodic rate to the principal in the account each day. Interest begins to accrue on the business day you deposit non-cash items (for example, checks). If you close your account before interest is credited you will receive accrued interest.
Minimum Balance to Open Account(s)/Minimum Balance to Avoid Imposition of Fees – The minimum balance required to open the accounts and avoid the imposition of fees are as follows:
First Business Money Market account is $1,000.00/$1,000.00*
First Preferred Business Money Market account is $75,000.00/$75,000.00*
First Prestige Money Market account is $500,000.00/$500,000.00*
Statement Savings account is $100.00/$1,000.00
*If balance falls below minimum any day of statement cycle.
Minimum Balance to Obtain the Annual Percentage Yield Disclosed – Refer to the Current Interest Rate sheet for minimum balance requirements applicable for each tier and the minimum balance to earn interest on the money market and savings accounts.
Fees if Minimum Balance Requirements Not Met – The fees that will be charged if the minimum balance requirements above are not met:
First Business Money Market account is $10.00
First Preferred Business Money Market account is $25.00
First Prestige Business Money Market account is $50.00
First Business Savings is $10.00
Transaction Limitations – Transfers from a money market or savings account to another account or to third parties by pre-authorized, automatic, internet, telephone, check or similar order are limited to six per statement cycle. Your savings or money market account is subject to a fee for each transaction over the limit. Please refer to the Fee Schedule.
Insufficient Funds Charge (Paid) Fee – As referenced in the Fee Schedule, may be imposed for overdrafts created by checks (for money market accounts) and by electronic means which includes but not limited to ACH pre-authorized withdrawals.
Insufficient Funds Charge (Returned) Fee – As referenced in the Fee Schedule, is imposed for but not limited to: returned items created by checks (for money market accounts) and by electronic means such as ACH pre-authorized withdrawals.
Additional Fees and Charges – Refer to the Fee Schedule for additional fees and charges that may apply. Fees may reduce the earnings on your account.
Time Accounts
Certificate Account Information and Disclosure
Rate Information – Interest rates and Annual Percentage Yields (APY) may change daily at the discretion of the Credit Union. Interest rates and Annual Percentage Yields (APY) will become effective as of the day funds are credited to your account and are fixed for the term of your account. Interest rates and Annual Percentage Yields (APY) may change after the account is opened on variable interest rate accounts.
Compounding and Crediting – Interest will be compounded daily and credited to your account monthly for terms shorter than 12 months, and quarterly for terms 12 months or longer. The annual percentage yield (APY) assumes that interest remains on deposit until maturity. A withdrawal of interest will reduce earnings. The daily balance method is used to calculate interest on your account and applies a daily periodic rate to the principal in the account each day. Interest begins to accrue on the business day you deposit non-cash items (for example, checks). If you close your account before interest is credited you will receive accrued interest.
Maturity Date: Your maturity date will be determined by the date you open your account and the term you choose. This information will be disclosed in the Truth In Savings disclosure.
Minimum Balance to Open Account(s) – The minimum balance to open a Time Account (Certificate Account /CD) is $1,000.00. Any promotional CD may have its own minimum balance
Minimum Balance to Obtain the Annual Percentage Yield Disclosed – Refer to the rate sheet for minimum balance requirements applicable for each tier and the minimum balance to earn interest on the savings account.
Time Account Withdrawal Limitations – You may make withdrawals of principal from your account before maturity, however, there will be an early withdrawal penalty. You can withdraw interest credited in the term before maturity of that term without penalty.
Time Account Early Withdrawal Penalty – An early withdrawal penalty will be imposed for withdrawals before maturity. The penalty is calculated based on the amount withdrawn and will be equal to 90 days’ simple interest for terms of 12 months or less, 180 days’ simple interest for terms of greater than 12 months but less than 48 months, and for a term of 48 or 60 months will be 365 days’ simple interest. The penalty will be calculated based on the rate being paid on the account at the time of the early withdrawal from the principal balance.
Renewal Policy – The accounts will automatically renew at maturity and you will have 10 days after the maturity date to withdraw funds without penalty. Your account will not renew if you withdraw the funds on the maturity date or if we receive written notice from you on or before the maturity date of your intention not to renew.
Renewal Terms – The renewal term will be the same as the original term, except for the 13-23 month time account which will renew to a 12-month and the 60-month time account which will renew to a 48-month. Refer to the current rate sheet and your Truth In Savings disclosure for more information.
Renewal Interest Calculation – The interest rate will be the same that we offer on new time accounts on the maturity date for the same term. Minimum balance and other features may be changed at renewal based on the current account features for the same term.
1The Earnings Credit Rate is periodically reviewed by First Financial Northwest Operated by Global Credit Union and is subject to change at management’s discretion. Your current Earnings Credit Rate will be on your monthly statement and can also be found on FFNW Operated by Global Federal Credit Union’s website under “Business Rates.”
2The Reserve Adjustment deduction on your analyzed account statement may not necessarily reflect the actual reserves incurred by First Financial Northwest Operated by Global Credit Union
Certificate Accounts
9 month CD
| Tier | APY |
|---|---|
| $1,000 - $4,999.99 | 2.35% |
| $5,000 - $24,999.99 | 2.35% |
| $25,000 - $99,999.99 | 2.35% |
| $100,000 and up | 2.35% |
12 Month CD
| Tier | APY |
|---|---|
| $1,000 - $4,999.99 | 3.80% |
| $5,000 - $24,999.99 | 3.80% |
| $25,000 - $99,999.99 | 3.80% |
| $100,000 and up | 3.80% |
13 - 23 Month CD
| Tier | APY |
|---|---|
| $1,000 - $4,999.99 | 3.95% |
| $5,000 - $24,999.99 | 3.95% |
| $25,000 - $99,999.99 | 3.95% |
| $100,000 and up | 3.95% |
24 month CD
| Tier | APY |
|---|---|
| $1,000 - $4,999.99 | 2.80% |
| $5,000 - $24,999.99 | 2.80% |
| $25,000 - $99,999.99 | 2.80% |
| $100,00 and Up | 2.95% |
36 month CD
| Tier | APY |
|---|---|
| $1,000 - $4,999.99 | 2.90% |
| $5,000 - $24,999.99 | 2.90% |
| $25,000 - $99,999.99 | 2.90% |
| $100,000 and up | 3.05% |
48 month CD
| Tier | APY |
|---|---|
| $1,000 - $4,999.99 | 2.90% |
| $5,000 - $24,999.99 | 2.90% |
| $25,000 - $99,999.99 | 2.90% |
| $100,000 and up | 3.05% |
60 month CD
| Tier | APY |
|---|---|
| $1,000 - $4,999.99 | 3.00% |
| $5,000 - $24,999.99 | 3.00% |
| $25,000 - $99,999.99 | 3.00% |
| $100,000 and up | 3.15% |
Interest rates are subject to change daily. Certain restrictions apply.
The APY (Annual Percentage Yield) assumes interest remains on deposit until maturity. Interest is compounded daily on all accounts
CDs are subject to an interest penalty for early withdrawal of principal. Fees may reduce earnings. Interest rate may change after the account is opened on variable interest rate accounts.
Must maintain $1,000 minimum balance in CD.
APY = Annual Percentage Yield
APR = Annual Percentage Rate
ECR = Earnings Credit Rate
Checking Account
Information and Disclosures
Rate Information – The First Business Checking account is non-interest bearing account. The First Business Analyzed Checking account is a non-interest bearing account. The First Preferred Checking interest rate is tiered. The rate is determined at the Credit Union’s discretion and may change on a weekly basis. See the Current Interest Rate Sheet for more information.
Compounding and Crediting – Interest on the First Preferred Checking will be compounded daily and credited to your account monthly. The daily computation method is used to calculate interest on your account and applies a daily periodic rate to the principal in the account each day. Interest begins to accrue on the business day you deposit non-cash items (for example, checks). If you close your account before interest is credited you will receive accrued interest.
Minimum Balance to Open Account(s) –The minimum balance to open the First Preferred checking account is $2,500.00. The minimum balance to open the First Business Checking account is $100.00. The minimum balance to open the First Business Analyzed Checking account is $100.00.
Minimum Balance to Obtain the Annual Percentage Yield Disclosed – For the First Preferred Checking refer to the current interest rate sheet for the minimum balance required to earn interest. Interest rates can be found on the Truth in Savings Disclosure received at account opening.
Minimum Balance to Avoid Imposition of Fees –The First Business Checking does not have a minimum balance to maintain. The First Preferred Checking account has a service charge fee of $10.00 that will be imposed every statement cycle if the balance falls below $2,500.00 any day of the month. The First Business Analyzed Checking account has a monthly maintenance fee of $15.00 per month that can be offset by the Earnings Credit.
Earnings Credit – The First Business Analyzed account has an Earnings Credit that can be used to offset Earned Credit Based Service Charges. Refer to the Treasury Management Price List provided by your FFNW Operated by Global Federal Credit Union banker for the list of Earned Credit Based Service Charges. The balance of Earnings Credit will not get paid to the account nor does it carry over from month to month.
Calculations and definitions for the First Business Analyzed Checking
Earnings Credit: Net Available Balance x Earnings Credit Rate1 x Actual Days in Month ÷ Actual Days in Year
Net Available Balance: Average Balance for Cycle – Float Amount for Cycle – Required Federal Reserves2 – Any Required Institution Reserves
Collected Balance Required: Earned Credit based Service Charges OR Total Charge ÷ Earnings Credit Rate1 ÷ (1-Reserve Adjustment Rate2 ) ÷ Actual days in Month ÷ Actual Days in Year
Fees and Service Charges – On the First Business Checking a fee of $0.20 will be charged for each item over 500 per month which includes checks paid, withdrawals, deposited items, ACH debits and credits. On the First Business Analyzed Checking a per-item fee is charged on certain transactions. Refer to Treasury Management Price List provided by your FFNW Operated by Global Federal Credit Union banker for details.
Monthly Statement Fee – A charge of $5.00 per month will be charged on the First Preferred Checking account if you prefer a paper statement. No charge if you sign up for eStatements.
Insufficient Funds Charge (Paid) Fee – As referenced in the Fee Schedule, may be imposed for overdrafts created by checks and by electronic means which includes but not limited to ACH pre-authorized withdrawals.
Insufficient Funds Charge (Returned) Fee – As referenced in the Fee Schedule, is imposed for but not limited to: returned items created by checks and by electronic means such as ACH pre-authorized withdrawals.
Additional Fees and Charges – Refer to the Fee Schedule for additional fees and charges that may apply. Fees may reduce the earnings on your account.
Money Market and Savings Account
Information and Disclosures
Rate Information –First Business Money Market, First Preferred Business Money Market and First Prestige Business Money Market accounts’ interest rate and Annual Percentage Yield are tiered according to your balance. The Business Savings Account interest rate and APY is non-tiered. The rates are determined at the Credit Union’s discretion and may change on a weekly basis. See the Current Interest Rate sheet for more information.
Compounding and Crediting – Interest on the First Business Money Market, First Preferred Business Money Market and First Prestige Business Money Market accounts will be compounded daily and credited to your account monthly. Interest on the Business Savings Account will be compounded daily and paid to your account monthly. The daily balance method is used to calculate interest on your account and applies a daily periodic rate to the principal in the account each day. Interest begins to accrue on the business day you deposit non-cash items (for example, checks). If you close your account before interest is credited you will receive accrued interest.
Minimum Balance to Open Account(s)/Minimum Balance to Avoid Imposition of Fees – The minimum balance required to open the accounts and avoid the imposition of fees are as follows:
First Business Money Market account is $1,000.00/$1,000.00*
First Preferred Business Money Market account is $75,000.00/$75,000.00*
First Prestige Money Market account is $500,000.00/$500,000.00*
Statement Savings account is $100.00/$1,000.00
*If balance falls below minimum any day of statement cycle.
Minimum Balance to Obtain the Annual Percentage Yield Disclosed – Refer to the Current Interest Rate sheet for minimum balance requirements applicable for each tier and the minimum balance to earn interest on the money market and savings accounts.
Fees if Minimum Balance Requirements Not Met – The fees that will be charged if the minimum balance requirements above are not met:
First Business Money Market account is $10.00
First Preferred Business Money Market account is $25.00
First Prestige Business Money Market account is $50.00
First Business Savings is $10.00
Transaction Limitations – Transfers from a money market or savings account to another account or to third parties by pre-authorized, automatic, internet, telephone, check or similar order are limited to six per statement cycle. Your savings or money market account is subject to a fee for each transaction over the limit. Please refer to the Fee Schedule.
Insufficient Funds Charge (Paid) Fee – As referenced in the Fee Schedule, may be imposed for overdrafts created by checks (for money market accounts) and by electronic means which includes but not limited to ACH pre-authorized withdrawals.
Insufficient Funds Charge (Returned) Fee – As referenced in the Fee Schedule, is imposed for but not limited to: returned items created by checks (for money market accounts) and by electronic means such as ACH pre-authorized withdrawals.
Additional Fees and Charges – Refer to the Fee Schedule for additional fees and charges that may apply. Fees may reduce the earnings on your account.
Time Accounts
Certificate Account Information and Disclosure
Rate Information – Interest rates and Annual Percentage Yields (APY) may change daily at the discretion of the Credit Union. Interest rates and Annual Percentage Yields (APY) will become effective as of the day funds are credited to your account and are fixed for the term of your account. Interest rates and Annual Percentage Yields (APY) may change after the account is opened on variable interest rate accounts.
Compounding and Crediting – Interest will be compounded daily and credited to your account monthly for terms shorter than 12 months, and quarterly for terms 12 months or longer. The annual percentage yield (APY) assumes that interest remains on deposit until maturity. A withdrawal of interest will reduce earnings. The daily balance method is used to calculate interest on your account and applies a daily periodic rate to the principal in the account each day. Interest begins to accrue on the business day you deposit non-cash items (for example, checks). If you close your account before interest is credited you will receive accrued interest.
Maturity Date: Your maturity date will be determined by the date you open your account and the term you choose. This information will be disclosed in the Truth In Savings disclosure.
Minimum Balance to Open Account(s) – The minimum balance to open a Time Account (Certificate Account /CD) is $1,000.00. Any promotional CD may have its own minimum balance
Minimum Balance to Obtain the Annual Percentage Yield Disclosed – Refer to the rate sheet for minimum balance requirements applicable for each tier and the minimum balance to earn interest on the savings account.
Time Account Withdrawal Limitations – You may make withdrawals of principal from your account before maturity, however, there will be an early withdrawal penalty. You can withdraw interest credited in the term before maturity of that term without penalty.
Time Account Early Withdrawal Penalty – An early withdrawal penalty will be imposed for withdrawals before maturity. The penalty is calculated based on the amount withdrawn and will be equal to 90 days’ simple interest for terms of 12 months or less, 180 days’ simple interest for terms of greater than 12 months but less than 48 months, and for a term of 48 or 60 months will be 365 days’ simple interest. The penalty will be calculated based on the rate being paid on the account at the time of the early withdrawal from the principal balance.
Renewal Policy – The accounts will automatically renew at maturity and you will have 10 days after the maturity date to withdraw funds without penalty. Your account will not renew if you withdraw the funds on the maturity date or if we receive written notice from you on or before the maturity date of your intention not to renew.
Renewal Terms – The renewal term will be the same as the original term, except for the 13-23 month time account which will renew to a 12-month and the 60-month time account which will renew to a 48-month. Refer to the current rate sheet and your Truth In Savings disclosure for more information.
Renewal Interest Calculation – The interest rate will be the same that we offer on new time accounts on the maturity date for the same term. Minimum balance and other features may be changed at renewal based on the current account features for the same term.
1The Earnings Credit Rate is periodically reviewed by First Financial Northwest Operated by Global Credit Union and is subject to change at management’s discretion. Your current Earnings Credit Rate will be on your monthly statement and can also be found on FFNW Operated by Global Federal Credit Union’s website under “Business Rates.”
2The Reserve Adjustment deduction on your analyzed account statement may not necessarily reflect the actual reserves incurred by First Financial Northwest Operated by Global Credit Union