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Savings
Saving for a special purchase? Investing for the future? Second Federal Savings offers a variety of savings products to help you achieve your financial goals. Whether you are teaching your children to save or want to take advantage of higher rates, we have the products for you.
Passbook Savings
Statement Savings
Have ample use to all of our free services by maintaining an account that complies with our minimum balance requirements. Remember, there is no fixed term or early withdrawal penalties with our Savings Accounts. Our savings accounts include:
 Free electronic banking
Free direct deposit
Passbook Savings
With a passbook savings account, record all of your activity directly in your passbook!
Regular Passbook Savings
Use a passbook account to save for short-term investment goals. Earn interest while saving money.
- $100 minimum to open
- No monthly service charge if balance remains above $1,000.00, otherwise $5.00 monthly fee
- Unlimited in person deposits and withdrawals (based on availability of funds)
- No fee for transactions to your account
Golden Passbook Savings
Earn higher market rates without committing to a term investment.
- $1,000.00 minimum to open
- No monthly service charge if balance remains above $1,000, otherwise $10.00 monthly service charge
- Unlimited in person deposits and withdrawals (based on availability of funds)
- No fee for transactions to your account
Young Investors Passbook Savings
Watching a savings account grow is fun for kids, and it’s also a great way to teach them how to save money. Open a savings account for your child today and help them to save for their future.
- $10.00 minimum to open
- No monthly service fee or minimum balance required
- No fee for transactions
- Unlimited in person deposits and withdrawals
- Depending on ownership selected, either the child or guardian controls funds
Quinceañera Passbook Savings
Preparing for the big event? Open a savings account for your child today and help her to save for the future.
- $10.00 minimum to open
- No monthly service fee or minimum balance required
- No fee for transactions
- Unlimited in person deposits and withdrawals
- Depending on ownership selected, either the child or guardian controls funds
Christmas Club Savings
Add money regularly to your club account and receive a check for the balance (plus interest) just in time for holiday shopping.
- $10.00 minimum to open
- No monthly service fee or minimum balance required
- Unlimited deposits
- Interest paid when holiday check is produced
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Statement Savings
With a statement savings account, save money without committing to a fixed term. In addition, most statement accounts:
- Receive monthly statements if account has electronic activity during the month.
Otherwise a, quarterly statement is sent
- Funds are electronically accessible, through an ATM (available on most accounts), with up to six ACH debits and unlimited ACH credits, etc
Statement Savings Account
Use a statement savings account for short-term investment goals. Earn interest (on most accounts) while saving money.
- $250.00 minimum to open
- No monthly service fee if minimum balance of $250 is maintained; otherwise $5.00 per month fee
- Tiered interest rate; the higher the balance, the higher the rate
- Unlimited in person deposits and withdrawals
ITIN Statement Savings Account
Applying for an ITIN? We can help. Open an ITIN statement savings and we’ll help complete and file the required W-7. You can begin reaching your savings goals while waiting for the ITIN.
- No monthly service fee if minimum balance of $250 is maintained; otherwise $5.00 per month fee
- Tiered interest rate; the higher the balance, the higher the rate
- Unlimited in person deposits and withdrawals
Non-Interest Bearing Statement Savings Account
- No monthly service fee if minimum balance of $250 is maintained; otherwise $5.00 per month fee
- Unlimited in person deposits and withdrawals
Charitable Statement Savings Account
Looking to open an account for a specific charity, foundation or philanthropic group? Perhaps an account that will take donations from the public? Ask about our charitable funds savings account.
- No monthly service fee if minimum balance of $250 is maintained; otherwise $5.00 per month fee
- Tiered interest rate; the higher the balance, the higher the rate
- Unlimited in person deposits and withdrawals
Ultra Statement Savings Account
Earn higher market rates without committing to a term investment.
- $2,500.00 minimum to open
- No monthly service fee if minimum balance of $1,000.00 is maintained; otherwise $10..00 monthly service charge
- Unlimited in person deposits and withdrawals (based on availability of funds)
- No fee for transactions to your account
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