Employee Advantage Benefits Program

Make your company’s benefits package more attractive to your workforce with a special program that’s also great for your business.

This premier suite of free and discounted banking services comes with no fees for you or your employees and no minimum or maximum participation requirement. The program lets you offer your employees a number of flexible, feature-filled checking and savings account options, plus special rates and offers on loans, CDs, mortgages, and more.

Employee Advantage helps increase participation in your automated payroll program, which can help reduce your administrative costs. It also promotes banking in your community, helping to strengthen the local economy and business climate. Plus, the financial education courses that are offered will enhance your workforce’s financial know-how.

All of which makes Employee Advantage a win-win situation for all.

Employee Advantage* Features:
  • Flexible checking and savings account options to choose from
  • Online Banking, Online Bill Pay, Mobile Banking, e-Statements and free checks
  • FREE ATM transactions at over 25,000 MoneyPassTM locations and all Ohio Rite Aid Pharmacy® locations
  • $300 off mortgage closing costs
  • 0.25% interest rate reduction on our Auto and Marine installment loans
  • An extra .25% added to non-promotional CD rates
  • Access to our Employee Advantage Money Market Account rate
  • Free consultation with FFL Investment Services
  • Access to financial education courses


* The Employee Advantage program account features are subject to change without notice. Some restrictions may apply. To receive any of the benefits of the Employee Advantage program, a participant must have or open a new checking account with a minimum opening balance of $50.00 and a monthly direct deposit of $500 and/or monthly usage of online bill pay. Free first box of checks includes select styles only.
1 $300 will be deducted off final closing costs. A qualifying checking account must remain open for 6 months or a penalty in the amount of the full bonus of $300 will be assessed. Offer valid for new loan applications dated on or after 1/1/2017 and excludes low closing cost products and government loan programs. All loan applications are subject to credit approval. Available only for loans on residential properties located in First Federal Lakewood’s assessment area (Cuyahoga, Geauga, Lake, Lorain and Medina counties).
2 The .25% interest rate deduction will be based on the final interest rate quoted for the product selected. All loans are subject to credit approval and standard underwriting guidelines. Offer valid for new auto and marine loan applications dated after January 1, 2017.
3 An additional 0.25% will be added to the interest rate of any new, non-promotional Certificate of Deposit (CD) in effect at the time of deposit. Renewals of this CD will be at the regular interest rate for the term selected. The minimum balance to open the CD(s) and earn interest is $500.00 and the maximum amount to receive promotional interest rate is $250,000.00. A penalty may be imposed for early withdrawal. 

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