First Federal is now offering a 5 year CD rate of 3.5% APY with a minimum deposit of $1,000 and a 3 year CD rate of 2.65% APY with a minimum deposit of $20,000, this rate drops to 2.40% APY for a $1,000 minimum deposit. Both of these CDs come with an early withdrawal penalty of 180 days’ interest.
The First Federal CDs are limited to residents of North Carolina, South Carolina, Georgia and Florida. You can apply for one of these CDs online and transfer funds through ACH transfer.
You can lock the rate by submitting your application online. The maximum you can deposit into one of these CDs is $50,000 and upon maturity First Federal will mail you a check.
First Federal is also offering a high yield interest checking account called Moolah Checking and is currently paying 2.51% APY for any account up to $25,000. You can find branches in North and South Carolina.
First Federal is rated 3 of 5 stars from Bankrate and is FDIC insured.