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At First Option Bank, we pride ourselves on offering "Banking at Its Best." Please contact us for further assistance if you don't see what you need here.


 

Personal Savings & Certificates of Deposit

It’s never too early, or too late, to establish a habit of saving. First Option Bank offers a variety of savings accounts and certificates of deposit to help you achieve your financial goals, no matter what your age.

Regular Savings

A Regular Savings account with First Option Bank offers you a simple way to save.

  • Low minimum opening deposit of only $50
  • Competitive rate of interest, compounded quarterly
  • Easy access to your funds with five withdrawals allowed per calendar quarter
    • Nominal charge of $1 for each additional withdrawal
  • No maintenance fees for balances over $50
  • Statements mailed semi-annually
  • FDIC Insured to the regulatory maximum

Fun Buddy Savings

Help the children in your life learn to be smart savers with a Fun Buddy Savings Account, a special club account for those 12 years of age and younger.

  • Low minimum opening deposit of only $10
  • Competitive rate of interest, compounded quarterly
  • Statement mailed semi-annually
  • FREE gift when account is opened
  • FREE Fun Buddy Club account book
  • Deposits earn points to be redeemed for prizes
  • Participate in special Fun Buddy activities
  • FDIC Insured to the regulatory maximum

Certificates of Deposit

A certificate of deposit with First Option Bank is an effective savings tool if you wish to earn a guaranteed rate of return on your investments with the security of FDIC insurance. The rate paid is higher than our savings or money market accounts.

  • Minimum opening deposit of $1,000.00
    • The minimum opening deposit for Special Rate CD’s is $10,000
  • Terms from 91 days up to 5 years
  • Interest compounded and credited to the account quarterly
  • No additional deposits may be made
  • Automatically renewable for added convenience
  • Penalty for early withdrawal
  • FDIC Insured to the regulatory maximum

Individual Retirement Accounts

This First Option Bank account is designed as a valuable source of tax savings for individuals interested in an investment for retirement with the security of FDIC insurance. Specific Federal rules and regulations apply.

  • Minimum opening deposit of $1,000.00
    • The minimum opening deposit for Special Rate CD’s is $10,000
  • Terms from 91 days up to 5 years
  • Interest compounded and credited to the account quarterly
  • Earnings grow tax-deferred until you withdraw them
  • Additional deposits may be made
  • Automatically renewable for added convenience
  • No service charges or maintenance fees
  • Penalty for early withdrawal
  • Traditional IRAs, Roth IRAs, and SEPs are available
  • FDIC Insured to the regulatory maximum

24 Month Variable Rate IRA

The 24 Month Variable Rate IRA is the perfect option for those who would like to make monthly contributions to their IRA and enjoy a guaranteed rate with the security of FDIC insurance. Specific Federal rules and regulations apply.

  • Low minimum opening deposit of $25.00
  • Interest compounded and credited to the account quarterly
  • Earnings grow tax-deferred until you withdraw them
  • Additional deposits may be made
  • Automatically renewable for added convenience
  • No service charges or maintenance fees
  • 24 month maturity
  • Penalty for early withdrawal
  • Traditional IRAs, Roth IRAs, and SEPs are available
  • FDIC Insured to the regulatory maximum