Jump to a section:

Simply Free Checking

A free account for everyone! It’s ideal if you’re under 50 and may have less than $1,500 in your account.

  • Minimum to open: $50
  • Minimum required balance: $0
  • Monthly service charge¹: $0
  • Free first box of personalized checks
  • Free debit card
  • Free Online and Mobile Banking app²
  • Free Online Bill Pay     
  • Free monthly eStatements

The Simply Free Checking Account makes banking easy and accessible to everyone. When we say free, we mean it. You’re not required to maintain a minimum account balance, and you won’t pay a monthly service charge. Free checking is ideal if you’re looking for a no-obligation way to open a bank account.

Direct Interest Checking

Let’s put your money to work! This interest-earning account is perfect if you use direct deposit or pay your bills with auto pay.

  • Minimum to open: $50
  • Minimum required balance: $0
  • Monthly service charge¹: $0
  • Free first box of personalized checks
  • Free debit card
  • Free Online and Mobile Banking app²
  • Free Online Bill Pay
  • Free direct deposit and automatic payments
  • Direct deposit or automatic payments required to be eligible for this account

Do you have your paycheck directly deposited into your current checking account? Do you pay any bills through automatic withdrawal? Then our Direct Interest Checking Account is a fit for you. This account gives you everything the Simply Free Checking Account does, plus your money earns interest for banking the way you already do.

If you’re over 50, you’ll want to check out our Advantage 50 Interest Checking option.

As of 11/12/2024

Annual Percentage Yield (APY) ***Interest Rate ***
0.05%0.05%

***Interest rates and Annual Percentage Yield (APY) are subject to change. Fees could reduce earnings.

Advantage 50 Interest Checking

Growing older has its perks! If you’re 50 or over, this account may be your best option. 

  • Minimum to open: $50
  • Minimum required balance: $0
  • Monthly service charge¹: $0
  • Free personalized checks for life
  • Free debit card
  • Free Online and Mobile Banking app²
  • Free Online Bill Pay
  • Free direct deposit and automatic payments
  • Free monthly eStatements

If you’re 50 or older, you’ll want to take a look at our Advantage 50 Interest Checking Account. This account not only lets you earn interest on your balance, but it also gives you free personalized checks for life. You’ll enjoy competitive rates and the added peace of mind that comes with no required minimum balance. 

As of 11/12/2024

Annual Percentage Yield (APY)***Interest Rate***
0.05%0.05%

Preferred Interest Checking

Earn even more interest! This account gives you our highest interest rate.

  • Minimum to open: $50
  • Minimum required balance: $1,500
  • When your daily balance is at least $1,500, there is no fee¹
  • When your daily balance falls below $1,500, there’s a monthly fee of $7
  • Free personalized checks for life
  • Free debit card
  • Free Online and Mobile Banking app²
  • Free Online Bill Pay
  • Free direct deposit and automatic payments
  • Free monthly eStatements

Are you looking to earn as much interest as possible? Introducing the Preferred Interest Checking Account. This account is ideal if you plan to have at least $1,500 in it at all times. When you do, you’ll earn the highest interest rate we offer on a checking account — all while enjoying the benefits of free checking. 

Don’t worry if your balance falls below $1,500. You still earn our competitive interest rate.

As of 11/12/2024

Annual Percentage Yield (APY)***Interest Rate***
Balances Under $1,5000.05%0.05%
Balances $1,500 or more0.15%0.15%

***Interest rates and Annual Percentage Yield (APY) are subject to change. Fees could reduce earnings.

Disclosures

¹Other fees and restrictions may apply
²Message and data rates may apply
Simply Free CheckingDirect Interest CheckingAdvantage 50 Interest CheckingPreferred Interest Checking
Account OverviewA FREE account for everyoneEarn interest with the
convenience of direct deposit
or any automatic payment
A perfect account for customers 50 and overAn account for those interested
in higher interest
Minimum Opening Balance$50$50$50$50
Minimum Balance RequiredYes
Monthly Service ChargeOnly $7 monthly charge if minimum daily balance falls below $1,500*
FREE Online and Mobile Banking**YesYesYesYes
Free eStatementsFree box of checksFree box of checksFree checks for lifeFree checks for life
FREE Debit CardYesYesYesYes
APY***.00%.05%.05%

Balances under $1,500 – 0.05%

Balances $1,500 or more – 0.15%

Interest Rate***.00%.05%.05%

Balances under $1,500 – 0.05%

Balances $1,500 or more – 0.15%

    *Monthly Service Charge will be assessed if balance falls below the Minimum Daily Balance Requirements anytime during the statement period.

    **Message and data rates may apply. Check with your cellular carrier for details.

    ***Interest rates and Annual Percentage Yield (APY) are subject to change. Fees could reduce earnings.

    New Customer?

    Welcome! If you’re a new Warsaw Federal customer, we understand you may have questions about your checking account. Rest assured, we’ve all been there. We’re here to guide you and set your mind at ease with our helpful guide.

    Download Our Mobile Banking App

    Our mobile app makes banking on the go efficient and secure. Access your accounts whenever, wherever.

    Meeting Your Financial Needs

    Let’s Talk Through Your Situation

    Everyone’s situation is different, and our experts are here to talk through yours. Whether you’re opening a new account or applying for a mortgage, contact us today.

    Find the Mortgage That Fits Your Needs

    Buying a home is exciting — and scary. Choose from one of our multiple loan options featuring competitive rates. Our Mortgage Loan Originators give you personalized advice and walk you through the process.

    Money Advice Around the Clock

    Find what you need to know, whenever you need to know it.

    What Your Credit Score Means

    Whether you are applying for a mortgage, car or personal loan, your lender will want to know one number: your three-digit credit score. This number has become perhaps the most…

    Balancing a Checking Account

    It’s tempting when you pay so many of your bills online to skip on balancing your paper checkbook. After all, balancing the checkbook is no one’s idea of a good…

    Understanding Your Credit Report

    Your credit reports are important documents. They list your open credit-card accounts, loan balances and financial missteps. Reviewing these reports on a regular basis is a smart financial decision. After…

    Use Direct Deposit to Build Savings

    Why doesn’t your savings account grow? It could be a simple matter of how you allocate your regular paycheck. What happens every time you receive your paycheck? If your employer…

    Why Budgets Fail

    You finally committed to making a household budget, listing your monthly expenses and revenue streams. However, at the end of each month you find that you’ve overspent on going to…

    Finding the Right Checking Account for You

    You have to make a lot of financial decisions in your life. How much money should you deposit in your 401(k) plan every two weeks? Should you apply for a…

    Understanding Your Debt Load

    Before applying for a mortgage, car or personal loan, you need to know if you earn enough income every month to pay back your new debt. Fortunately, there is an…