An account to meet every need

Find the right account for you

Save time and energy with an account that works harder so you can focus on what really matters. Banking with First Federal Savings of Lorain means having a checking account with the flexibility and convenience you need. Please explore our various options to discover the account that is right for you.   



Have Questions? Need Help?
Contact us or stop in to your local First Federal Savings of Lorain branch for assistance.

Account Minimum Deposit to Open Monthly Service Fee or Balance Requirement Unlimited Check Writing Interest Earning

My Free Checking

$25.00 N/A Yes No

Now Checking

$100.00 $500.00 minimum balance  Yes   Yes 

Insured Money Market Fund

$100.00 $2,500.00 minimum balance No Yes

Choice Money Market 

$100.00 $2,500.00 minimum balance  No Yes
Commercial Checking  $50.00  $5.00 monthly fee  No Yes
1st Classic Advantage  $100.00  $10.00 monthly fee   Yes Yes*
Student Checking $5.00 N/A Yes No 

* Conditions may apply.
The interest rate and Annual Percentage Yield (APY) on checking accounts may change at any time and at our discretion. Fees could reduce the earnings on checking accounts. Effective on 03/22/2024


Our FREE Checking account is the perfect choice for individuals and families who want a simple, worry-free checking account with NO monthly service charges, NO minimum balance requirements and UNLIMITED check writing privileges.

*carrier and/or data charges may apply

Our NOW Checking account allows you to enjoy UNLIMITED check writing privileges and earn a competitive interest rate on your entire balance. 

*carrier and/or data charges may apply

Pays higher interest on your checking funds with balances of $10,000 or higher

  • $100 minimum balance required to open and earn interest
  • Earn competitive interest rate
  • Higher interest rate tiers on balances of $10,000 or higher
  • $2,500 minimum balance to avoid monthly service charge
  • Monthly service charge of $5 if the account balance falls below $2,500
  • No per-check charge
  • FREE 24-hour TouchTel telephone banking
  • E-statement available
  • Disclosure
  • Miscellaneous Fee Schedule


Our Insured Money Market Fund pays a higher interest rate on balances over $2,500.

  • Minimum balance to open account and earn annual percentage yield is $100
  • Earn a competitive interest rate on balances over $100 
  • Higher interest rate paid on balances of $2500 or more   
  • Minimum balance of $2500 is required to avoid monthly service fee
  • No per-check charge
  • Online banking
  • 24hr TouchTel
  • Disclosure
  • Miscellaneous Fee Schedule

We appreciate the value of the small incorporated business owners in our local communities. That’s why we have designed an efficient and economical checking program just for them.

This is an exclusive account to fulfill the needs of our customers 50 and over.

  • $100 minimum balance to open 
  • $250 minimum balance to earn annual percentage yield 
  • $10 monthly service charge waived with
        * Direct deposit (into 1st classic advantage)
        * $10,000 aggregated daily account balance per statement cycle, in any combination of CD's,
          Savings or Checking accounts.

        Customer has 60 calendar days to setup Direct Deposit ( minimum amount of $250); during
        this time no monthly service charge will be assessed.

  • Earn a higher interest rate with E-Statements
  • Free box of checks per year 
  • Free small or medium Safe Deposit Box for the first year (subject to availability)
        *50% off annual rent after the first year, while the 1st Classic Advantage checking account is opened. One discounted safe deposit box per account. 
        Additional Benefits
  • Overdraft privilege is available ( if eligible) $800 limit 
  • No IRA maintenance fees
  • Free Financial Review with First Federal Financial Advisor 
  • Unlimited transactions 
  • Unlimited check writing 
  • Visa check mate card 
  • International transactions may be subject to a fee
  • Online banking 
  • Online bill pay 
  • Mobile banking*
  • Mobile Deposit*
  • 24 hour Touch Tel
  • Free Notary 
  • No coin machine fee
  • Access to over 14,000 ATM locations nationwide 
  • Other banks' ATM fees may apply
  • 1-2-3 Switch It Kit (This will make switching accounts and direct deposits easy!)
  • Receive a crossword/sudoku puzzle book at time of opening
  • Disclosure 
  • Miscellaneous Fee Schedule

*carrier and/or data charges may apply

Start your banking journey with us! Our Student Checking account is the perfect choice for students ages 15-24* who want a simple checking account with NO monthly service charges and NO minimum balance requirements. 

*When primary owner turns 25 this account may be changed to a comparable accounts offered by First Federal Savings of Lorain. 

**carrier and/or data charges may apply

Explore More

Link to Overdraft protection PageOverdraft protection

Overdraft protection

For those "oops" moments.

Link to Savings PageSavings


Smart, simple ways to reach your goals.

Link to Moneypass ATM LocatorMoneypass ATMs

Moneypass ATMs

Surcharge-free ATMs wherever you go.