First Rate Checking Account Disclosures
2: APY = Annual Percentage Yield. Compounds daily. All rates subject to change without prior notice. Fees may reduce earnings for accounts where fees apply. Annual Percentage Yield accurate as of November 3, 2025.
51: Minimum daily balance in your account each day to obtain the disclosed annual percentage yield. Minimum balance required to open this account is $5.00. This is a tiered rate account. The following tiers apply: Tier 1 Balances of $1,000.01 and above, Tier 2 Balances from $0.01 to $1,000.00. If account requirements are met, the higher dividend rate and APY will be paid only on the portion of the daily balance that falls within Tier 2. Balances in Tier 1 will always earn the Tier 1 rate and APY. If account requirements are not met for a statement cycle, all balances (both tiers) will earn dividends at the Tier 1 dividend rate and APY. Account requirements are: At least one (1) direct deposit into this account per statement cycle; and Enrollment in eStatements. Membership in Webster First Federal Credit Union is required to open and maintain this account. Insured by NCUA. Member MSIC.
Benefits of First Rate Checking
High-yield earnings
Earn X.XX% APY2 on the first $1,00051 in your account when you enroll in eStatements and sign up for direct deposit. It’s a simple way to make your balance work harder for you.
No monthly maintenance fees
Keep more of what you earn with zero monthly maintenance fees. Your account stays free, so you can focus on building your financial future.
Get paid up to 2 days early
When you have direct deposit you get access to your paycheck up to 2 days before your scheduled payday. No extra steps required. Get the money you’ve earned when you need it most.
Complete banking convenience
Enjoy full-service banking with online and mobile app access, plus a Mastercard debit card for purchases and ATM access nationwide.
Rates
| Type | Dividend Rate | APY2 | Min Balance7 |
|---|---|---|---|
| First Rate Checking21,51 | .01% | 5.00 - 0.02% | $1000.01+ |
| 4.88% | 5.00% | $0.00-$1,000.00 | |
| Teen Checking21 | .01% | .01% | $0.00 |
Open your First Rate Checking account
To open, you must be 18 years of age or older and live, work, worship, or attend school in Essex, Middlesex, Suffolk, or Worcester County or be a current Webster First member. $5 minimum balance to open.
Award-winning service
2025 Newsweek: America's Best Regional Banks and Credit Unions
2024 Winner: The Official Community's Choice Awards
5-stars: Bauer Financial
2024 Newsweek: America's Best Regional Banks and Credit Unions