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Savings

Saving money is smart – and First Western makes it easy. You’ll get competitive interest rates, plus the peace of mind of being FDIC insured. For higher yields, choose a First Western CD. To save while maintaining easy access to your cash, select a Money Market Account. Or, take advantage of our Christmas Club, Wish List or Kids Club Savings.
 

Money Market Accounts

Invest with First Western and watch your money grow at a competitive rate of interest, plus you’ll have easy access to your funds anytime. 
  • Competitive Money Market Interest rates5
  • Six free debits per statement cycle7
Visit with a First Western Customer Service Representative to find the Money Market account that best fits your needs
 

Certificates of Deposit – Lock in a fixed interest rate over a fixed term

  • Easy to open and maintain
  • Get a guaranteed rate of interest for a fixed term
  • Variety of term lengths available
 

URFirst Savings – Start a simple savings plan

  • $100 minimum opening balance
  • Six free withdrawals per calendar month. Additional withdrawals are $5 each5
  • Limited transaction account7
  • Quarterly statements
  • Interest paid on balances of $100+5
  • Low monthly fee of $3 which can easily be waived by maintaining a minimum balance of $100 or a total customer relationship balance of $5,000 with FW5
 

Christmas Club Savings – Save today for your gift list

  • Earns a competitive interest rate5
  • Deposits limited to maximum monthly and annual amounts
  • Deposits limited to automatic transfers from other First Western Bank accounts on a weekly, bi-monthly or monthly basis
  • One withdrawal on the last business day of October in the form of a direct deposit
  • Account automatically renews the first business day of November, unless closed by account holder
 

Wish List Savings – Put cash aside for a specific goal

  • Save for big-ticket items, from a vacation to remodeling to a home theater system
  • Offers all the benefits of our Christmas Club Savings with the flexibility to choose any month as your cash-out date
  • On your cash-out date, we will automatically deposit the money into your First Western checking account
 

Kids Club Savings – A fun way to teach your children about money

  • Designed for children up to age 18
  • No minimum opening balance
  • Interest paid on balances of $1 or more5
  • Parent or guardian must sign on the account
  • 6 Free withdrawals per month, additional withdrawals $2 each5 7
  • Quarterly Statements
 
Feature URFirst
Christmas
Club
Wish List
Kids S.A.F.E. Health (HSA)
Service Charge $3.00 per month fee may be waived with a minimum balance of $100 or a total customer relationship balance of $5,000 with FW.
None None None None
Interest Earning Interest is paid on balances of $100 plus(5)  Very Competitive Rate(5) Very Competitive Rate(5) Interest is paid on balances of $1 plus(5)  Very Competitive Rate(5)
Unlimited WIthdrawals 6 per month, $5 fee for each additional withdrawal One withdrawal on the last business day of October in the form of a direct deposit(2). Very Competitive Rate(5) 6 per month, $2 fee for each additional withdrawal Yes
Free Online Banking and Bill Pay Yes Yes Yes Yes
Yes. Online Banking
No. Bill Pay
Free eStatements Yes Yes Yes Yes Yes
Minimum Opening Balance $100 $25, maximum of $500 $25, maximum of $500 None $100
Other Benefits Quarterly Statements Competitive interest rate Competitive interest rate None Contributions are tax deductible. Interest earned is tax free. Distributions may be tax free provided customer pays for qualified medical expenses.  No penalties for early withdrawal. Can make a one-time contribution from an IRA with no withdrawal penalty.
Other Instructions Limited Transaction Account Deposits limited to $500 per month and $6000 per year and be automatic transfers from FWB accounts only, on a weekly, bi-monthly, or monthly basis.  Account automatically renews on the first business day of November, unless closed by account holder Deposits limited to $500 per month and $6000 per year and be automatic transfers from FWB accounts only, on a weekly, bi-monthly, or monthly basis.  Account automatically renews on the first business day of November, unless closed by account holder  Designed for children from birth to age 18. A parent or guardian must sign on this account.  This is a limited transaction account. Customer must have a high deductible health plan.  Cannot have other health coverage.  Cannot be entitled to Medicare or Veteran's Health benefits. Cannot be claimed as a dependent on someone else's tax return.
 

Ready to get started?

Call your First Western Customer Service Representative today:
1-800-979-4577 toll-free in Western Arkansas and 1-877-631-0107 toll-free in Northwest Arkansas.
 
2 - Additional withdrawals will be subject to account closure and accrued interest will not be paid.
5 – Fees could reduce earnings on account.
7 – The product allows for unlimited deposits, but limited to 6 free withdrawals a month.