First Federal Bank of California

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Account Disclosure

Power Rewards Checking is a high yield interest-bearing account. There is no minimum balance required or monthly service charge on this account. The account earns variable rates of interest based upon the account balance and the interest tier in which the balance falls on the given day. Receipt of the higher interest rate in each statement period is contingent upon the completion of activity requirements during the prior statement period, with Power Rewards interest paid on balances up to $25,000 and a reduced interest rate paid on balances greater than $25,000. Accounts that do not meet the activity requirements are paid interest at 25 basis points on the total account balance.

Qualification Criteria
On the 3rd business day of each month, we will determine if the account qualifies for the Power Reward interest rate based on the account having achieved the necessary requirements in the prior month, which we refer to as the “Qualifying Month." If the account qualifies, then the Power Rewards rate will remain in effect. For accounts which do not meet the activity requirements, the interest rate will be adjusted accordingly and the lower interest rate will remain in effect until the next Qualifying Month. Interest rate adjustments will occur no later than the 5th business day of the following month and each month thereafter.

Special Rule Regarding New Accounts
New Power Rewards checking accounts automatically qualify for the Power Rewards interest rate for the first two months, regardless of the account activity conducted. If the account is opened between the 1st and 15th day of the month, then that month is counted as one of the free months. If the account is opened after the 15th day of the month, then that month is not counted as one of the first two months.

Existing accounts that are converted to the Power Rewards Checking product are not eligible for the two month activity requirement waiver.

Activity Requirements
In order to be eligible for the Power Rewards interest rate, the following transactions must be conducted during each statement period.

18 POS Debit Card transactions (ATM transactions are excluded)
3 Bill Payment transactions
1 Electronic transaction (ACH Debit or Direct Deposit)

In addition, clients must have a valid email account in order to be notified monthly of the account’s interest rate based on the activity in the account during the Qualifying Month.

Accounts which do not meet the activity requirements for three consecutive months will automatically be migrated to the Client Checking product and subject to all terms and conditions including applicable service fees.

Premium Services
The following premium services are also included in the Power Rewards Checking package:

Online Bill Payment - If you do not use Online Bill Payment Service for three consecutive calendar months, we reserve the right to discontinue your access to our Online Bill Payment service without prior notice
No First Fed fee for transactions performed at non-First Federal Bank of California ATMs. ATM transactions performed at non-First Federal Bank of California ATMs may be subject to third party charges (surcharges).
When you use a non-First Federal Bank of California ATM, we will refund the ATM usage charges (surcharge) assessed against your account by the third party processor, up to a maximum of $2.00 per transaction. The refunded fee will be credited to your account on the business day after the transaction date.
eStatements are standard with Power Rewards Checking accounts. Clients electing to receive a paper statement will be charged a processing fee of $23.00 per month.
Free Corporate image checks
Free telephone banking
Free online banking

Standard fees apply for Courtesy Overdraft, Uncollected Funds and/or Overdraft Protection Lines.