First Fed Bank savings, CD and money market rates
First Fed Bank advertises 2.25% APY on its First Savings account. That is 1.88 percentage points above the national savings average of 0.37% (FDIC, Sep 2026).
Ranked #415 of 2767 tracked savings rates by advertised APY. For a $10,000 balance it would rank #272.
First Fed Bank at a glance
| Savings | |
|---|---|
| Top savings APY | 2.25% · First Savings |
| Minimum to open | $1 · First Savings |
| Against the national average | 1.88 percentage points above the 0.37% FDIC savings average (Sep 2026) |
| CDs | |
| Top CD APY | 4.20% · 13 months · CD Promo 13 Month |
| Minimum to open | $10,000 · 13 months CD |
| Against the national average | 2.47 percentage points above the 1.73% FDIC 12-month CD average (Sep 2026) |
| Money market | |
| Top money market APY | 0.01% · First Rate Money Market |
| Minimum to open | $1,000 · First Rate Money Market |
| Against the national average | 0.62 percentage points below the 0.63% FDIC money market average (Sep 2026) |
| FDIC certificate | 28405 · Port Angeles, WA |
|---|---|
| Website | www.ourfirstfed.com |
| Branches | 14 branches in WA |
| Availability | Available in WA |
First Fed Bank savings, CD and money market rates
Personal
How the rate applies
IRA
Business
How the rate applies
How the rate applies
Rates are APY. The national savings average is 0.37% (FDIC, Sep 2026). The top tracked savings rate on Banksparency is 5.50%. Across 60 savings accounts from 59 banks in the Banksparency core savings index, the median advertised rate is 3.66%, and one account in ten advertises 4.16% or more. See the highest savings rates.
First Fed Bank CD rates
| Term | APY | Minimum | Product |
|---|---|---|---|
| Personal CDs | |||
| 2 months | 0.05% | $100 | Fixed CD 46 Day |
| 3 months | 2.25% | $100 | Fixed CD 3 Month |
| 6 months | 2.75% | $100,000 | Jumbo CD 6 Month |
| 6 months | 2.25% | $100 | Fixed CD 6 Month |
| 7 months | 3.85% | $5,000 | CD Promo 7 Month |
| 9 months | 0.25% | $25 | Variable Rate CD 9 Month |
| 12 months | 3.00% | $100,000 | Jumbo CD 12 Month |
| 12 months | 2.50% | $100 | Fixed CD 1 Year |
| 13 months | 4.20% | $10,000 | CD Promo 13 Month |
| 18 months | 2.75% | $100,000 | Jumbo CD 18 Month |
| 24 months | 2.25% | $100 | Fixed CD 2 Year |
| 36 months | 2.25% | $100 | Fixed CD 3 Year |
| 48 months | 1.90% | $100 | Fixed CD 4 Year |
| 60 months | 1.90% | $100 | Fixed CD 5 Year |
| IRA CDs | |||
| 12 months | 3.64% | $500 | IRA CD 12 Month |
| 36 months | 2.90% | $500 | IRA CD 36 Month |
| 60 months | 2.54% | $500 | IRA CD 60 Month |
Interactive Tool
Calculate Savings for First Fed Bank
All calculations are based on APY.
Savings Breakdown
- Interest Earned+$206.50(0.9%)
- Total Contributions$13,000
- Initial Deposit$10,000
Projected Balance
$23,206.50
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
What First Fed Bank pays on deposits
FDIC call report data
An advertised rate tells you what a new savings account earns today. It cannot tell you how the bank has priced the savings and money market deposits it already holds, over time. This section shows that. The figure is computed from the interest expense and deposit balances that every bank files with the FDIC in the same form. That is what makes it comparable across banks and across quarters.
The two figures answer different questions, so they sit side by side and are not combined.
In Q2 2026, First Fed Bank paid a higher average rate on savings and money market deposits than 80% of banks that reported a figure (FDIC call report). The all-bank median was 1.45%.
- First Fed Bank, savings and money market
- All-bank median
How to read these figures
What the average covers. It is an average across the whole bank, taken from its own quarterly FDIC call report. It covers savings accounts and money market deposit accounts, personal and business, at every balance tier. It also covers accounts that were opened years ago and keep the rate of those years. The FDIC line does not separate consumer accounts.
The second figure. The scale row also shows the average across all interest-bearing deposits: savings, interest checking, money market accounts, CDs, personal and business. That figure covers the whole deposit book. The two are shown separately and are not combined.
What the advertised rate covers. It is the rate that this bank advertises now for a new savings account. Banksparency records it from the bank's website on the date shown beside it.
Why the two differ. They measure different things, so this page shows them side by side and keeps them apart. An advertised rate applies to one account, opened now, at today's price. The average also includes older savings balances at the rates of earlier years, money market balances that were priced in a different rate environment, and business accounts. An average below an advertised rate is the usual result of that arithmetic. On its own it is not evidence about the account that you would open.
What the average is useful for. The bank files the data itself, under reporting instructions that are the same for every filer, and the same computation runs for every bank on this site. That makes it comparable in a way that an advertisement is not. Two things on this page read it: the percentile, which shows where the quarter sits among all filers, and the chart, which shows the direction the figure has moved across quarters.
What the average cannot tell you. It cannot tell you the rate that you would earn. No single customer earns the average. For your rate, read the advertised rate above and the rate tables on this page, each with the date it was observed.
What to do next. Use the advertised rate to work out what a new account earns. Use the chart to see how the quarterly average has moved against the all-bank median. Then compare the advertised rate against the current rates on the savings-rate tables before you open an account.
Definitions: Call Report · Rate Paid on Deposits · Interest-Bearing Deposits · Front Book and Back Book · Deposit Rate Percentile
Average annualized rates paid on savings and money market deposits, and on all interest-bearing deposits, quarterly. The FDIC line for savings includes money market deposit accounts and business savings deposits and does not separate consumer accounts. Source: FDIC call report data, as reported; it may be amended. The percentile compares all FDIC filers, count-weighted. A missing quarter is suppressed, never interpolated. The percentile counts the banks that paid strictly less on savings and money market deposits, one vote per bank, among the banks that reported a figure for the quarter.
So what is the catch?
| Product | APY | Min to open | Min to earn | Balance cap | Monthly fee | Requirements | Rate type | 12-mo trend |
|---|---|---|---|---|---|---|---|---|
| Personal | ||||||||
| First Savings | 2.25% | $1 | $0 | None | not stated | not stated | One rate | |
| Alpine Savings | 1.95% | $100,000 | $0 | None | not stated | not stated | Tiered | |
| Summit Savings | 0.03% | $100 | $0 | None | not stated | not stated | One rate | |
| Holiday Club | 0.03% | $25 | $0 | None | not stated | not stated | One rate | |
| First Rate Money Market | 0.01% | $1,000 | $0 | None | not stated | not stated | One rate | |
| Spruce Money Market | 0.01% | $10,000 | $0 | None | not stated | not stated | One rate | |
| Business | ||||||||
| Madrona Business Money Market | 2.75% | $10,000 | $0 | None | not stated | not stated | Tiered | |
| Premium Business Savings | 2.00% | $100,000 | $0 | None | not stated | not stated | Tiered | |
| Business Savings | 0.03% | $100 | $0 | None | not stated | not stated | One rate | |
Fine print for 2 products above: Opening requires $100,000 of new money, meaning funds not held on deposit at First Fed within the last 30 days. Existing First Fed funds can be added after the account is open.
Rate type: one rate applies at every balance. A tiered rate changes with your balance. A promotional rate changes after the period shown. A balance cap is the largest balance the highest rate applies to.
The 12-month trend shows the highest advertised rate observed each day and includes promotional tiers where one applied.
CDs
| Product | Term | APY | Min to open | Early withdrawal fee | Compounding |
|---|---|---|---|---|---|
| Personal CDs | |||||
| Fixed CD 46 Day | 2 months | 0.05% | $100 | not stated | not stated |
| Fixed CD 3 Month | 3 months | 2.25% | $100 | not stated | not stated |
| Jumbo CD 6 Month | 6 months | 2.75% | $100,000 | not stated | not stated |
| Fixed CD 6 Month | 6 months | 2.25% | $100 | not stated | not stated |
| CD Promo 7 Month | 7 months | 3.85% | $5,000 | not stated | not stated |
| Variable Rate CD 9 Month | 9 months | 0.25% | $25 | not stated | not stated |
| Fine print: Variable rate. The APY can change during the term. | |||||
| Jumbo CD 12 Month | 12 months | 3.00% | $100,000 | not stated | not stated |
| Fixed CD 1 Year | 12 months | 2.50% | $100 | not stated | not stated |
| CD Promo 13 Month | 13 months | 4.20% | $10,000 | not stated | not stated |
| Jumbo CD 18 Month | 18 months | 2.75% | $100,000 | not stated | not stated |
| Fixed CD 2 Year | 24 months | 2.25% | $100 | not stated | not stated |
| Fixed CD 3 Year | 36 months | 2.25% | $100 | not stated | not stated |
| Fixed CD 4 Year | 48 months | 1.90% | $100 | not stated | not stated |
| Fixed CD 5 Year | 60 months | 1.90% | $100 | not stated | not stated |
| IRA CDs | |||||
| IRA CD 12 Month | 12 months | 3.64% | $500 | not stated | not stated |
| IRA CD 36 Month | 36 months | 2.90% | $500 | not stated | not stated |
| IRA CD 60 Month | 60 months | 2.54% | $500 | not stated | not stated |
Fine print for 3 CDs above: Open in a branch or by phone.
Opening and using the account
| Availability | Available in WA |
|---|---|
| Footprint | 14 branches in WA |
| Eligibility | not stated |
How First Fed Bank behaves over time
Every observation of the advertised First Savings rate in the last 12 months was 2.25% (observed through Sep 30, 2026). The series includes promotional tiers where one applied.
Banksparency observed no cuts to First Fed Bank's advertised savings rate in the last 12 months, a period with 2 Federal Reserve cuts.
Recent rate changes, as observed
- Obs. Sep 30, 2026CD Promo 7 MonthRaise:3.60%to3.85%
- Obs. Sep 30, 2026CD Promo 13 MonthRaise:4.00%to4.20%
- First Savings
- The same as 30 days ago.
- 13 months CD
- Up 0.20 percentage points from 7 days ago.
- First Rate Money Market
- The same as 30 days ago.
$10,000 at the 2.25% APY First Fed Bank advertises on First Savings grows to $10,225 in a year. Prices rose 3.4% in the year to August 2026 (Consumer Price Index (CPI)). After a year of prices rising at that pace, it buys as much as $9,889 does today. See how the federal funds rate shapes savings rates.
First Fed Bank CD rates over time
Who is First Fed Bank?
| Headquarters | Port Angeles, WA |
|---|---|
| Founded | 1923 |
| Scale | $2.1B assets · $1.6B deposits, $1.4B of it interest-bearing (Q2 2026, FDIC) |
| Deposit insurance | FDIC insured · Certificate 28405 |
| Charter state | Washington · one of 29 insured banks chartered there (Q2 2026, FDIC) |
| Size | 610th-largest by deposits of 4,238 insured banks (Q2 2026, FDIC) |
| Deposit growth | Higher than at 11% of 4,226 insured banks over the four quarters to Q2 2026 (FDIC) |
Financial detail is in What First Fed Bank pays on deposits above.
Common questions about First Fed Bank
Is First Fed Bank FDIC insured?
Yes. First Fed Bank is FDIC insured under certificate 28405, so deposits are covered up to $250,000 per depositor, per ownership category.
What is the minimum deposit at First Fed Bank?
First Fed Bank requires a minimum deposit of $1 to open its First Savings account, as observed on Sep 30, 2026. Check the bank's current terms before you open an account.
Does First Fed Bank have branches?
Yes. First Fed Bank operates 14 branches according to FDIC branch records, in addition to its website and mobile apps.
First Fed Bank against its closest alternatives
| Bank | Savings APY | Rate paid on savings and money market deposits (Q2 2026) | Min deposit | Branches |
|---|---|---|---|---|
| First Fed Bank | 2.25% | 2.31% | $1 | 14 branches in WA |
| Northwestern Bank | 2.27% | 1.83% | not stated | 7 branches in WI |
| Bank of Utica | 2.30% | 1.99% | $100 | 1 branch in NY |
| Locality Bank | 2.20% | 3.25% | $100 | 2 branches in FL |
Each savings APY is the top rate of the account the bank's own page leads with. Alternatives are the three tracked banks whose savings APY is closest to First Fed Bank's.
Similar banks and related pages
Banks in the same rate band with the same product mix:
Other banks chartered in Washington, nearest to First Fed Bank in deposits:
Rate hubs: today's highest savings rates, CD rates by term, and money market rates.