Thursday, 14 May 2026 10:00 AM
Product Announcements
New account offers a competitive APY with no surprise fees, no minimums, and no restrictions-and every deposit supports the local community.
LAKEWOOD, OH / ACCESS Newswire / May 14, 2026 / First Federal Lakewood, a community mutual bank serving Ohio, announced the launch of the Uplift High-Interest Savings Account, a no-frills savings product designed to make it easy for anyone-especially younger savers-to start building financial security without the barriers that typically come with traditional savings accounts.
An Uplift account can be opened entirely online in about 10 minutes, requires no minimum balance, charges no surprise fees, and carries no restrictions. The account launches with a tiered APY structure: 2.00% on balances from $0-$49,999, 2.50% on balances from $50,000-$99,999, and 0.20% on balances of $100,000 and above.
"Research tells us that Gen Z is financially savvy but can be skeptical of banks" said Shane Dixon, VP, Senior Product Manager - Core Banking. "Uplift is our answer to that: a straightforward, high-yield savings account with zero gotchas, backed by a real mutual bank that's been part of this community for nearly 100 years."
No Barriers, No Surprises
Getting started with Uplift takes only a government-issued ID, a Social Security number, a U.S. address, and a funding source such as an existing bank account or debit card. Accounts earn interest from day one, and savers can set up automatic transfers or make one-time deposits on their own schedule.
For those who prefer a more personal touch, accounts can also be opened in person at any First Federal Lakewood branch.
Banking That Gives Back to the Community
As a mutual bank, First Federal Lakewood operates differently from publicly traded financial institutions. Rather than returning profits to outside shareholders, the bank reinvests in its community-funding local mortgages, small business loans, and community organization support throughout the greater Lakewood area.
"Every dollar deposited into an Uplift account helps power real investment in the neighborhoods where our customers live and work," President and CEO of First Federal Lakewood Timothy E. Phillips added. "Saving money and doing good aren't mutually exclusive-with Uplift, they go hand in hand."
The Uplift High-Interest Savings Account is available now. Customers can open an account online at FFL.bank or visit a local branch.
About First Federal Lakewood
First Federal Lakewood is a mutual bank dedicated to serving individuals, families, and businesses throughout Ohio. As a mutual institution, First Federal Lakewood is committed to the long-term financial health of its customers and the communities it serves.
Media Contact
Valerie Kovacs
SVP, Chief Marketing Officer
First Mutual Holding Company OBO First Federal Lakewood
[email protected]
216-529-2698
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SOURCE: First Federal Lakewood