Deal Summary: $300 New Checking Account Bonus; Relationship Money Market Account promo rate, 1.30% APY (guaranteed for 180 days), $15k min/$250k max of new money.
$300 Bonus Requirements
- Open a new checking account (minimum $100 of new money) entering online promo code Bank300 or using a copy of the flyer if opening in-branch.
- Have a recurring Direct Deposit (minimum $250) within 45 days of account opening, OR,
- Five signature based debit card transactions within 45 days of account opening.
- Bonus will be deposited in the checking account within 60 days of account opening.
- Only valid for new checking account customers, or those who have not “been an owner or signer on a different First Bank Financial Centre (FBFC) consumer checking account within the past three (3) years.”
- One bonus per household.
- Student Checking and accounts having an FBFC employee as the primary owner are excluded from this offer.
- If account is closed or overdrawn within the first 60 days, the bonus may be denied.
- There is a $20 early termination fee if account is closed within 90 days.
Four FBFC checking accounts (Value, Premier, Free, and Classic) qualify for the bonus. The monthly fees on the Value ($6) and Premier ($10) checking accounts can be waived through debit card activity (24 transactions per month) and minimum daily balance ($500), respectively; the Free and Classic checking accounts have no monthly service fees.
|0.03%||-||-||Bank Five Nine (WI)||Classic Checking|
|0.03*%||-||-||Bank Five Nine (WI)||Premier Checking|
Relationship Money Market Account
FBFC is also offering a promotional rate on its Relationship Money Market Account (1.30% APY), which is guaranteed for 180 days if an active consumer checking account is maintained. “Active consumer checking” is defined as the same Direct Deposit or debit card transactions as described above.
The minimum deposit to earn the stated 1.30% APY is $15k of new money, with a balance cap of $250k; balances below $15k earn 0.10% APY. A minimum daily $2.5k balances is required to avoid the $10 monthly service fee. Following the 180-day promotional period, the APY will revert to the standard rate.
According to the fine print on the promotion page,
If the requirements of the active checking account are not met, we reserve the right to
terminate the introductory rate prior to the 180th day and rates will revert to the standard rates.
|0.40*%||$15k||-||Bank Five Nine (WI)||Relationship Money Market - Introductory Rate|
|OTHER TIERS: 0.10% → Up to $15k|
Headquartered in Oconomowoc, First Bank Financial Centre’s primary market area includes southeast Wisconsin, but the $300 Checking Bonus and the Relationship Money Market Account promotional rate are available to all Wisconsin residents through FBFC’s online banking platform.
Applying for the $300 checking bonus can be done online using promo code “Bank300”, or at any of 14 Wisconsin branches located in Brookfield, Germantown, Glendale, Grafton, Hartford, Hartland, Menomonee Falls, Mequon, Milwaukee, Oconomowoc (4), and West Bend. If opening in-branch, a copy of the offer must be presented when opening.
Applying for the Relationship Money Market Account can be done online, or in person at any of the above mentioned 14 full-service branches.
First Bank Financial Centre has an overall health rating of "B+" on DepositAccounts.com, with a Texas Ratio of 10.19% (excellent), based on September 30, 2016 data. In the past year, FBFC has increased its total non-brokered deposits by $47.07 million, an excellent annual growth rate of 6.4%. Please refer to our financial overview of First Bank Financial Centre (FDIC Certificate # 12517) for more details.
Established in 1859 as the Summit Bank, First Bank Financial Centre is currently the 17th largest bank in Wisconsin, with assets in excess of $1 billion. The Bank’s "About Us" page gives a little perspective on what was happening in 1859.
During this same year Oregon was admitted as the 33rd state, ground was broken
for the Suez Canal, the elevator was patented, Charles Darwin published "On the
Origin of Species", and Abraham Lincoln still hadn't been elected President yet!
The Bank was renamed the Bank of Oconomowoc in 1889 and remained so for almost 100 years. In recognition of being the oldest bank in Oconomowoc, the Bank was re-branded as First Bank of Oconomowoc in 1984. The final name change occurred in 1998, following the Bank's “continuous growth into a variety of communities."
How the MMDA Compares
When compared to the 355 Money Market Accounts tracked by DepositAccounts.com that are available to Wisconsin residents, First Bank Financial Centre’s Relationship Money Market Account APY currently ranks first.
The above rates are accurate as of 2/20/2017.
Other Bank Promotions and Bonuses
Not eligible for First Bank Financial Centre’s bonuses? Check out my latest bank and credit union bonus blog posts to find other promotions. In addition, DepositAccounts.com readers and I also post often on bonuses in the Bank Promotions Forum.