Federation Bank: Savings Accounts, CDs, Money Market & Rates

By Aviel Fahl

Updated: 8/15/2026

Mission: Banksparency aims to make Federation Bank's deposit accounts transparent and comparable to the market.

Interest rates reported as APY

Analysis of Federation Bank

Our verdict

CD Analysis

Federation Bank offers CDs paying up to 3.91% APY on its 19 months term, across 13 term lengths.

Tracking 13 active CD products, useful for locking in today's rate before further moves at the Fed.

Best CD use: locking in 3.91% APY for a 19 months term and laddering across multiple maturities.

Federation Bank also offers Earnings Money Market, a money market account paying 0.75% APY with a $25,000 minimum deposit.

At 0.75% APY, Federation Bank pays above the national money market average of 0.63%.

Additional Accounts

Money Market, a money market account at 0.35% APY.
Statement Savings, a savings account at 0.05% APY.
HSA Checking, a health savings account (HSA) at 0.05% APY.

Ideal User Profile

Best for: simple saving without extra requirements.

IRA Analysis

Federation Bank also offers an IRA savings account paying up to 0.05% APY.

Tracking 1 active IRA savings product, useful for tax-advantaged retirement savings.

Best IRA use: tax-advantaged retirement saving.

Important Considerations

HSA Checking is a health savings account (HSA). Requires an eligible high-deductible health plan and is intended for qualified medical expenses.

No app ratings available for this bank.

iOS app rating is not available.

Android app rating is not available.

Deposit Accounts Overview

Christmas Club

Savings

0.05% APY

Min: $10 Branch Access

Rank #281 of 337 tracked.

HSA Checking

Savings

0.05% APY

Min: $50 Branch Access

Rank #282 of 337 tracked.

Pennysavers

Savings

0.05% APY

Min: $10 Branch Access

Rank #283 of 337 tracked.

Statement Savings

Savings

0.05% APY

Min: $50 Branch Access

Rank #284 of 337 tracked.

Earnings Money Market

Money Market

0.75% APY

Min: $25,000 Branch Access

Money Market

0.35% APY

Min: $1,000 Branch Access

IRA Savings

0.05% APY

Min: $250 Branch Access

Market Reality Check

This institution offers rates below the top 10 savings and money market accounts we track. Those institutions all pay at least 4.01% APY.

See Top Rates

National Avg: 0.38% (FDIC, 8/1/2026).
Banksparency tracks live rates daily.

Bank Overview

HQ LocationWashington, IA
Deposit InsuranceFDIC Insured(Cert: 14352)

Visit Official Website

Featured Offers

Axos ONE - High Yield Savings & Checking

Over 95,000 fee-free ATMs
Get paid up to 2 days early with Direct Deposit
One convenient app for spending & saving

FDIC Insured

Savings4.21%APY

Checking0.51%APY

Go to Axos Bank

FDIC or NCUA insured

View Details

Monthly Maintenance Fee	None
Min. Deposit to Savings Account	0
Min. Balance in Savings Account	0
How to qualify for APY	OPTION ADirect Deposit $1,500+ AND Maintain $1,500+ avg daily checking balance. OR OPTION BDeposit $5,000+ total/mo AND Maintain $5,000+ avg daily checking balance.
Mobile Ratings	iOS:4.7 Android:4.5

The APY is available with the Axos ONE savings and checking bundle. The checking account also earns interest. To qualify, you must either set up a direct deposit of $1,500 and maintain an average daily balance of more than $1,500 in your ONE Checking account, or receive at least $5,000 in total monthly qualifying deposits and maintain an average daily balance of more than $5,000.

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FDIC Insured

Quontic High Yield Savings

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FDIC Insured

Savings3.20%APY

Go to Quontic Bank

FDIC or NCUA insured

View Details

Monthly Maintenance Fee	None
Min. Deposit to Savings Account	10000
Min. Balance in Savings Account	0
Mobile Ratings	iOS:4.8 Android:4.9

Deposit Accounts: In-Depth View

Savings Accounts Offered by Federation Bank

Feature	Statement Savings	Christmas Club	Pennysavers	HSA Checking
APY	0.05%Verified: 8/15/2026	0.05%Verified: 8/15/2026	0.05%Verified: 8/15/2026	0.05%Verified: 8/15/2026
APY Trend	N/A	N/A	N/A	N/A
Min. Deposit	$50	$10	$10	$50
Min. Balance	$0.01	$0.01	$0.01	$0.01
Monthly Fee	N/A	N/A	N/A	N/A
Direct Deposit	None	None	None	None
Checking Bundle	No	No	No	No
In-Branch Access	Yes	Yes	Yes	Yes
Compounding	N/A	N/A	N/A	N/A
FDIC Insured	Yes	Yes	Yes	Yes
Eligibility	United States	United States	United States	United States
Next Steps	-	-	-	-

Interactive Tool

Calculate Savings for Federation Bank

All calculations are based on APY.

Choose savings account

Initial deposit

Recurring deposit

Frequency

Duration

Savings Breakdown

Interest Earned
+$18.60(0.1%)
Total Contributions
$13,000
Initial Deposit
$1,000

Projected Balance

$14,018.60

Effective APY

0.05%

The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.

Federation Bank Deposit Rates Over Time

No historical data available.

Compare with Federation Bank

Feature	Current View Federation Bank	Empty Slot
Product		-
APY	0.05%Verified: 8/15/2026	-
APY Trend	N/A	-
Min. Deposit	$50	N/A
Monthly Fee	N/A	-
Direct Deposit	No	-
Checking Bundle	No	-
In-Branch Access	Yes	-
Eligibility	United States	-
Compounding	N/A	-
FDIC or NCUA Insured	Yes	-
Next Steps	-	-

CD Overview

3.91% Highest APY

Across 13 CD products with terms: 13 months, 18 months, 19 months, 3 months, 30 months, 36 months, 48 months, 60 months, 24 months, 6 months, 7 months, 9 months, 12 months

CD Products Offered by Federation Bank

Feature	3-Month CD 3 months	6-Month CD 6 months	7-Month CD 7 months	9-Month CD 9 months	12-Month CD 12 months	13-Month CD 13 months	18-Month CD 18 months	19-Month CD 19 months	24-Month CD 24 months	30-Month CD 30 months	36-Month CD 36 months	48-Month CD 48 months	60-Month CD 60 months
APY	0.20%Verified: 8/15/2026	0.30%Verified: 8/15/2026	3.68%Verified: 8/15/2026	3.75%Verified: 8/15/2026	0.55%Verified: 8/15/2026	3.82%Verified: 8/15/2026	0.60%Verified: 8/15/2026	3.91%Verified: 8/15/2026	0.70%Verified: 8/15/2026	0.80%Verified: 8/15/2026	0.95%Verified: 8/15/2026	1.05%Verified: 8/15/2026	1.10%Verified: 8/15/2026
Term	3 months	6 months	7 months	9 months	12 months	13 months	18 months	19 months	24 months	30 months	36 months	48 months	60 months
Min. Deposit	$500	$500	$500	$500	$500	$500	$500	$500	$500	$500	$500	$500	$500
Early Withdrawal	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
FDIC Insured	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes

Federation Bank CD Rates Over Time

Not enough rate history to show a chart. We have CD rates for this bank from one day only. The chart shows when we collect more data.

Money Market Accounts Offered by Federation Bank

Feature	Earnings Money Market	Money Market
APY	0.75%Range: 0.00% - 0.75%Verified: 8/15/2026	0.35%Range: 0.00% - 0.35%Verified: 8/15/2026
Min. Deposit	$25,000	$1,000
Min. Balance	$1,000	$1,000
Monthly Fee	N/A	N/A
Direct Deposit	None	None
In-Branch Access	Yes	Yes
Compounding	N/A	N/A
FDIC Insured	Yes	Yes
Eligibility	United States	United States

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Eligible States: Limited (see details)

Farmers and Merchants Union Bank

Christmas Savings: 0.75% APY

Minimum Deposit: $1

Savings: 0.75% APY

Minimum Deposit: $0

Health Savings: 0.60% APY

Minimum Deposit: $0

IRA Advantage: 2.47% APY

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Waterman Bank

High Yield Savings: 3.82% APY

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Business Savings: 3.82% APY

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Kids Savings: 3.82% APY

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Christmas Club: 0.25% APY

Minimum Deposit: $0.01

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Minimum Deposit: $2,500

First Mid Bank & Trust, National Association

Jumbo Money Market: 3.44% APY

Minimum Deposit: $50,000

Money Market Account: 0.50% APY

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Savings Account: 0.05% APY

Minimum Deposit: $50

Farm Bureau Bank FSB

Plus Money Market: 2.50% APY

Minimum Deposit: $25,000

Business Money Market: 2.50% APY

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