Saving for your retirement, a vacation, or an emergency fund?

At Second Federal, we’re focused on helping our depositors achieve their financial goals. That’s why we offer a range of account options for life’s unexpected events. Our savings accounts are designed with high-interest rates and with terms to give you peace of mind.

Passbook Savings

With no fees to worry about, you can withdraw and make deposits whenever you like..

Account Overview

Interest is computed daily and credited quarterly

  • Minimum Balance of $100 to earn interest – 1.00% APY2
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Money Market Savings

You get up to six penalty-free withdrawals per month.

Account Overview

Interest is computed daily and credited quarterly

  • Minimum Balance of $100 to earn interest
  • Balances $100 up to $999 – 1.25% APY2
  • Balances $1000 up to $24,999 – 1.50% APY2
  • Balances $25,000 up to 49,999 – 1.75% APY2
  • Balances $50,000 and over- 2.00% APY2
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Certificates of Deposit

Our CD comes with the benefits of our highest interest rates2.  Certificate of Deposit accounts have no monthly fees, and a low minimum opening deposit of only $500, except for CD Specials that have a minimum deposit of $5000. A longer CD term will earn you more. Rates are fixed through maturity, but there are penalties for early withdrawals. Once your CD matures, we’ll help you roll it over to keep your savings growing.

Account Overview

Interest is compounded daily and credited quarterly

  • 6-month CD – 1.75% APY2
  • 12-month CD – 3.25% APY2
  • 15-month CD – 4.50% APY2 (SPECIAL)
  • 18-month CD – 3.00% APY2
  • 24-month CD – 3.00% APY2
  • 36-month CD – 3.25% APY2
  • 48-month CD – 3.25% APY2
  • 60-month CD – 3.50% APY2
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If you’re eligible to establish and contribute to a tax-advantaged retirement account, our Traditional IRA can be a good choice. There are annual contribution limits and you may roll over or transfer to and from other Traditional IRAs or qualified employer-sponsored plans. Investment growth is tax deferred, so you won’t pay federal income taxes on your deductible contributions or any earnings until you withdraw money on or after age 59 and a half5. Consult your tax advisor before opening an account.

Account Overview
  • $500 minimum opening deposit
  • $0 monthly service fees
  • Penalty-free widthdrawals after age 59.5
  •  CD rates apply for IRA Accounts
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Passbook Savings Money Market Savings Certificates of Deposit IRA CDs
FDIC Insurance Protection1
Deposits Unlimited Unlimited
Competitive interest rates 0.20% APY2 0.40% to 1% APY2 1.5% to 3.0% APY2 1.5% to 3.0% APY2
Minimum opening deposit $100 $500 $500 $500
Monthly service fee $0 $0 $0 $0
Penalty-free withdrawals Unlimited 6 per month 3 After age 59.54
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  1. FDIC insurance: all savings accounts are covered up to the maximum amount allowed by law.
  2. Rates are subject to change at any time without notice. APR stands for Annual Percentage Rate.
  3. Penalties for early withdrawals apply.
  4. The information on this site is not intended to provide legal, tax, accounting, or investment advice. Consult a qualified advisor for advice specific to your circumstances.