Personal Banking - Money Market & Savings
Premier Money Market
Earn a premium money market rate on all your account balances and enjoy the convenience of easy access to your account with our Premier Money Market Deposit Account. Your funds can be accessed by writing convenient money market checks to third parties, in person with one of our friendly and helpful tellers, or transferring funds using First Fone telephone banking or Personal Online Banking. Top tier balances earn an interest rate comparable to the yield on the short term Treasury Securities on the open market, complete with FDIC insurance. With an innovative five tier rate structure, you are sure to earn maximum dollars with a high degree of access to your funds when needed. All five rate tiers reset monthly to assure you that your rate never becomes stagnant. Interest is compounded and credited to the account monthly so you are able to enjoy the positive cash flow. Closing the account prior to interest posting will result in a forfeiture of all interest earned for that month. Because of the exciting structure of this account, we must limit the number of pre-authorized transfers. Therefore, you are allowed up to six pre-authorized transfers or checks per month. There is no limit to the number of withdrawals or deposits made in person or by mail. We just request that you maintain a minimum of $2,500 in the account at all times, otherwise a $10 account maintenance fee may be charged for that month.
This statement savings account is designed for those individuals who already have a First National Bank of McHenry Checking, SNOW, or Premier Money Market Account. When linked to one of the aforementioned accounts, Relationship Savings Accounts are ideal because of their many functional uses. They can be used to accept direct deposit, automatically cover an accidental overdraft in a checking account, or to withdraw or deposit money using an ATM. Relationship Savings Accounts are also accessible using First Fone telephone banking and Personal Online Banking. As long as the checking, SNOW, or Premier Money Market Account to which the Relationship Savings Account is linked is open and active, there is never a monthly charge for the account.
Statement Savings Account
For those who do not have a pre-existing account with The First National Bank of McHenry but still desire the convenience of electronic ATM access and direct deposit coupled with a savings account, you will find this savings account perfect for both investment and money management. As an owner of this account, you will enjoy unlimited transactions to your account in person or by ATM card. A detailed statement is mailed to you at the end of each month that itemizes each transaction as well as includes any interest earned on the balances in the account. The monthly service charge of $2 is waived if your average balance exceeds $500 throughout the course of the month.
Saving money in its simplest form. Owners of this interest bearing savings account receive a passbook that is presented to tellers to make deposits, withdrawals, and update quarterly interest payments. The Passbook Savings account is perfect for you if you wish to have your transactions recorded in a neat and easy to read format, without ever having to worry about balancing your account. No statements are mailed for passbook accounts. ATM cards and direct deposit is not available for passbook accounts, however, there is never a monthly charge for the Passbook Savings account.
Looney Tunes Savings Club
A savings account designed specifically for the younger generation between the ages of 1 -16. With the help of Looney Tune favorites, Bugs Bunny and Taz, this statement savings account allows its members to learn the value of saving money while providing them the skills needed to complete basic banking transactions, including reviewing and balancing a monthly statement. Interest is paid monthly and statements are mailed monthly. Owners of this account will enjoy the benefit of the account being direct deposit and Personal Online Banking compatible. At age 16 (and with parent or guardian permission), this account can easily be converted to another type of account. This conversion will then enable either owner to make withdrawals, receive cash back on deposits, or cash checks. This can be particularly convenient for high school students with part time jobs needing a place to do thier banking. There is never a monthly charge for the Looney Tunes Savings Club Account.
Young Savers Passbook Savings
This passbook savings account allows children to learn first hand the value of saving money with a minimum amount of book work. Because all transactions are neatly recorded in the passbook, owners of this account can actually watch their money grow without a lot of recordkeeping. Withdrawals may only be performed with parental or guardian consent. Interest is paid quarterly and statements are not mailed for the Young Savers Passbook Savings. The only drawback is that the account is not direct deposit compatible and not available to be viewed using Personal Online Banking. There is never a monthly charge for the Young Savers Passbook Savings Account.
Holiday Club Savings
Never get caught short for the Holidays again. This account provides you with an excellent way to budget your money all year long, and rewards you in October with a check for the balance in your account plus interest earned just in time for Holiday shopping. Choose from two convenient ways to fund your Holiday Club Account. Either automatically have us charge another account when you specify or sign up to receive a payment book with tear off coupons. The choice is yours.