WePayU With First Fed Perks

ELIGIBILITY REQUIREMENTS. WePayU Checking is available for personal accounts only.

RATE INFORMATION. Please refer to our rate sheet for the interest rate and annual percentage yield (APY) on this account. 

Your interest rate and annual percentage yield may change. 

Determination of Rate. At our discretion, we may change the interest rate on your account.

The interest rate on your account is based on meeting the Bonus Rate Eligibility Requirements, shown below under Additional Rate Information. 

If you do not meet the Bonus Rate Eligibility Requirements during a statement cycle, the rate paid to your account on the entire balance will be 0.01% with an annual percentage yield of 0.01%.
 
A statement cycle ends on the last business day of the month. There may be times when transactions completed near the end of the month may not be posted to your account in the current statement cycle and will be counted in the next statement cycle. 

Frequency of Rate Changes. We may change the interest rate on your account at any time. 

Limitations on Rate Changes. There are no maximum or minimum interest rate limits for this account. 

Additional Rate Information. 
The interest rate on your account is based on meeting the Bonus Rate Eligibility Requirements. If the requirements are met during a statement cycle, a bonus rate of interest is paid on balances of $1.00 through $9,999.99. On balances $10,000.00 and above the rate is paid at 0.01%.
 
Bonus Rate Eligibility Requirements.
To qualify for the bonus interest rate you must meet the following requirements each statement cycle:
1. 12 Checkcard debits posted to your account
2. Receive an electronic monthly statement by confirming your e-statement enrollment
3. Receive at least one ACH direct deposit

COMPOUNDING AND CREDITING. Interest will compound monthly and will be posted monthly.

MINIMUM BALANCE REQUIREMENTS. You must deposit $25.00 to open this account. 

First Federal will waive the $8.00 monthly fee if you meet ANY of the following requirements:
 
1. Maintain a $500.00 average balance in your WePayU Checking with Perks account
2. Maintain a $5000.00 minimum balance in savings
3. Have an open First Federal loan account 

The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. 

You must maintain a minimum daily balance of $1.00 in the account each day to obtain the disclosed annual percentage yield.

DORMANT/INACTIVE ACCOUNT INFORMATION. A dormant account fee of $5.00 per month will be charged after 6 months of inactivity.

PROCESSING ORDER. The law allows us to process checks and any other debit activity in any order. Electronically withdrawn activity such as ACH and debit card transactions are withdrawn in the order in which they are received. The processing order of these items is important because if there is not enough money in the account to pay for the items in the order they are processed in accordance with the processing order, there may be an overdraft on your account which may result in overdraft or non-sufficient funds fees or an increase in the amount of these fees. Generally, checks are withdrawn from your account from the smallest dollar amount to the largest dollar amount. Our check processing order minimizes the number of items that may result in an overdraft or non-sufficient funds fee. We encourage you to keep accurate records, check your monthly statements carefully and practice good account management, thereby reducing or eliminating overdraft or non-sufficient funds fees.

BALANCE COMPUTATION METHOD. We use the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the principal in the account each day. 

ACCRUAL ON NONCASH DEPOSITS. Interest begins to accrue on the first business day after the business day you deposit noncash items (for example, checks).

TRANSACTION LIMITATIONS. No transaction limitations apply to this account.  

ADDITIONAL INFORMATION REGARDING YOUR ACCOUNT. First Federal will refund ATM surcharge fees up to $20.00 per month. Limited to ATMs located in the U.S. To qualify for the ATM surcharge refund you must meet one of the Minimum Balance Requirements to waive the monthly service charge.

FEES AND CHARGES. Please refer to the separate fee schedule provided to you with this disclosure for information about fees and charges associated with this account. A fee schedule will be provided to you at the time you open an account, periodically when fees or charges change, and upon request.