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Overview
- Interest earned on entire balance
- $300 daily minimum balance to waive $4 monthly service charge
- Unlimited withdrawals — in person or with your ATM card
- Free ATM card
- Free online banking & bill pay
- Free mobile banking
- Free telephone banking
How it works
First Hope Bank is a member of a special network. When you place a large amount with us, we place your funds into accounts issued by other banks in the same network—in increments of less than $250,000—so that both principal and interest are eligible for complete FDIC protection. As a result, you can receive coverage from many banks while working with just one.
These exchanges, which occur on a dollar-for-dollar basis, can bring the full amount of your original deposit back to our bank. As a result, we can make the full amount of your deposit available for community lending purposes. [1]
What Else Should I know
Now you no longer have to spend time managing multiple bank relationships, administering various interest rates, organizing interest disbursements from various sources, or manually consolidating monthly statements. This reduces your administrative burden, especially during tax and financial reporting seasons.
And with IntraFi Network Deposits, you can eliminate the need to monitor changing collateral values—another time saving convenience.