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A FREE checking account that pays you each month. 

Key Features

  • High Dividends
  • No Monthly Maintenance Fee
  • Refunds on ATM Withdrawal Fees*
  • Digital Banking

Our First Rate Checking is a free checking account that pays high dividends each month.

  • 3.51% APY* on balances up to $25,000
  • 3.51% to 0.77% APY on balances over $25,000 depending on balance in account**
  • 0.10% APY* if qualifications aren't met
  • Refunds on ATM withdrawal fees, nationwide (up to $25 monthly)*
  • No monthly maintenance fee
  • No minimum balance to earn rewards
  • Free temp and cashier's checks
  • Free digital bankingdebit card and telephone banking
  • Surcharge-free ATMs available
  • Members 13-17 can have a checking account if an adult is listed on the account
  • 0.25% discount on consumer loans***
  • $350 discount on mortgage closing costs+

Qualifications to Earn Rewards++

Enrollments must be in place and all of the following transactions and activities must post and settle to your First Rate Checking account during each Monthly Qualification Cycle: 

  • At least 1 direct deposit, ACH credit or ACH payment transaction
  • At least 25 debit card purchases
  • Be enrolled in and agree to receive E-statements

That's it. Even if you don't meet your qualifications during the cycle, your First Rate Checking account is still free. Plus, you'll still earn our base dividend rate. And you can get right back to earning your full rewards the very next month!

Card Controls

Use Card Controls on your First Community debit and credit cards to receive real-time alerts any time your card is used, letting you know immediately if there are unauthorized purchases on your card. 

More Information

See this guide on managing your checking account (PDF).

See this short article on managing your spending to achieve your financial goals — then download and fill out the worksheet.

You are responsible for assuring your available balance of funds meets all your payment and withdrawal needs. Check your account balances periodically by calling us, visiting an ATM, sign up for text alerts, view your accounts online or with mobile banking. 

We have standard overdraft practices called Overdraft Privilege* that you may elect to add to your checking account. First Community's Overdraft Privilege service adds a measure of protection to your checking account, so you may avoid the hassle and expense of a returned non-sufficient funds item or a declined transaction due to insufficient funds. The service may pay checks and other transactions made using your checking account number, including ACH items that would not have cleared otherwise due to insufficient funds, up to an approved amount. Additionally, you may elect to extend the service to your ATM and everyday debit card transactions. You will be charged a paid insufficient funds service charge for accessing Overdraft Privilege. If your account(s) are in good standing, you may become eligible for this service after your checking account has been open for at least 60 days.

Please note: Overdraft Privilege is not allowed on any minor account under the age of 18.

We have an overdraft protection service that draws funds from a share/savings account and we also offer an overdraft protection line of credit,** which may be less expensive than our standard overdraft practices that you may choose.

What you need to know about overdrafts and overdraft fees.

*Overdraft Privilege (ODP) service charge is $27.50 per item paid. This is the same service charge as our insufficient funds fee. If three items are presented for payment in amounts of: $40.00, $150.00, and $150.00 and your account has available funds in an overdraft protection line-of-credit loan, you would pay $3.74 in interest if paid off in thirty days. In comparison, if you opt-in to ODP and ODP is used to pay the same three items, the account would be assessed a service charge of $27.50 per item for a total cost to you of $82.50 in service charges. The full amount of the overdraft balance plus related service charges will be due immediately but in no event later than 30 days from the date of occurrence. We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction. We generally will not pay an overdraft because you have exceeded the overdraft limit or have an outstanding balance that has not been repaid. Please refer to your account disclosure for information on this discretionary overdraft service.

**Overdraft protection line-of-credit loan is 12.95% APR as of 2/15/2018.

*$1 share deposit required. Must qualify for membership. Federally insured by NCUA. APY=Annual Percentage Yield. APYs accurate as of 08/01/2023. Rates may change after account is opened. If qualifications are met each calendar month (statement cycle): (1) Domestic ATM fees incurred using Rewards Checking check card during calendar month (statement cycle) will be reimbursed up to $25.00 and credited to account on the last day of monthly statement cycle; (2) balances up to $25,000 receive APY of 3.51%; and (3) balances over $25,000 earn 0.10% dividend rate on the portion of the balance over $25,000, resulting in 3.51% - 0.77% APY depending on the balance. If qualifications are not met, all balances earn 0.10% APY. Please note that the purchases MUST actually post to your account during the monthly qualification cycle. We post purchases to your account when we receive them from the merchant and that may occur one or more days after the purchase date. Purchases that have been initiated but not posted as of the end of the cycle will not count as a qualifying transaction for that cycle (but will count in the following cycle when they post). The first qualification cycle will begin on the date you open or convert to a First Rate Checking account and end on the last day of the calendar month. The qualification cycle will be each calendar month thereafter. If you close your account before the end of the calendar month (statement cycle), you will forfeit any ATM fee refunds. Statement and Dividend cycles are monthly. Fees may reduce earnings.

**APY range calculated with a $125,000 balance.

***Offer valid for checking account holders with direct deposit only. Rates, terms and conditions subject to change. Loan subject to credit approval. Not valid with any other offer. Offer does not include refinances on First Community loans or first mortgage loans. Offer of .25% APR discount valid on one consumer loan per calendar year.

+Mortgages available to Missouri & Illinois residents only. Offer valid for checking account holders with direct deposit only. Rates, terms and conditions subject to change. Loan subject to credit approval. Not valid with any other offer. Offer does not include refinances on First Community loans. One $350.00 discount per mortgage loan per calendar year.

++If qualifications are not met, all balances earn 0.10% APY.