Knowledge Base

Your Hometown Friends. Your Hometown Bank.

Your Money Management Resource Center: Get answers to common banking questions.

How do I read a check?

A lot of information can be found on bank checks such as the check number, dollar amount the check was written for, who the check is intended for, account and routing number, and more. Below is a diagram on what information you can find on a check and where it is located.

How do I open an account?

Visit any of our branches to open an account with us! Remember to bring valid identification documents with you.

How do I close an account?

How to close an account will depend on which type of account it is, however, we’re happy to help you at any of our branches. For business accounts any authorized signer can close the account, and you must bring your ID as well as other supporting documents. To close a personal account the account owner will need to provide their ID. Other situations will require more documents to be provided. Please call ahead to any of our branches and our Customer Service Representatives will be happy to walk you through what you need to bring.

How do bank CDs work?

Certificates of deposit (CDs) are savings accounts that offer a fixed interest rate in exchange for agreeing to leave your money untouched for a set term. The interest rate will depend on variables such as the term agreed upon and the general rates of the market. Withdrawing your money before the terms ends could result in penalties such as forfeiting some of the money you put into the CD.

Are CDs FDIC insured?

FFSB/CKF are FDIC insured, so all deposits are insured up to $250,000 per customer. Therefore, if your CD and any additional deposits do not exceed $250,000, then your deposits (and CDs) are insured by the FDIC.

Are bank CDs worth it?

Certificates of deposit (CDs) can be a good option if you have a savings goal and know you won’t need the money for a while. They’re generally safer than stocks and bonds but offer lower potential returns. Depending on your financial goals, a CD could be right for you!

How do bank loans work?

Bank loans allow you to borrow money from the bank that you repay with interest over time. There are many different types of loans available, each with its own terms and interest rates. Common loan types include mortgages, auto loans, and personal loans.

How do banks calculate interest?

The interest on your loan or savings account is calculated on the principal amount (the amount you borrow or deposit), the interest rate, and the amount of time the money is on deposit, or the loan is outstanding, using a formula to calculate the interest you earn or pay. For loans, we will provide you with an amortization schedule that shows how much of your loan payment goes towards interest and principal over the life of the loan.

Why open a business bank account?

Keeping your business and personal finances separate is essential for several reasons. A business bank account can help you track your business income and expenses more easily, make it easier to pay bills and collect payments, and establish a business credit history.

How do business bank accounts work?

Business bank accounts are similar to personal bank accounts, but they offer features tailored to business needs. Ask our Customer Service Representatives at any of our branches about these features to learn more!

Can a business checking account have beneficiaries?

With FFSB/CKF business accounts have authorized signers or beneficial owners, not beneficiaries.

Are bank transfers safe?

At FFSB/CKF we work hard to keep your money safe. That is why we offer our Account to Account (A2A) transfer feature, ensuring your transfer is seamless and safe.

Is there a minimum balance on my account?

Minimum balance requirements depend on the type of account you have. Check out our account options and details about minimum balances here for Personal Accounts and here for Business Accounts.

How long do bank to bank transfers take?

When using our Account to Account (A2A) transfer feature, bank to bank transfers generally take 3-5 business days. If your bank transfer is taking longer than 5 days, feel free to contact our customer service representatives at any of our branches and we will be happy to check on your transfers details.

What are your overdraft fees?

To review Deposit Rates & Terms and fee information, please check out our Deposit Rates & Terms page by clicking here.

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