An Iroquois Federal Savings Account is an interest bearing account that earns interest without a specific maturity date. All it takes to open a Statement Savings Account at Iroquois Federal is $50.00. You must maintain a balance of $25.00 to earn interest. Interest is paid quarterly. You can avoid a quarterly $5.00 service charge by maintaining a balance of $50.00. This is an ideal account for children and individuals who want to earn interest on their deposits without being required to keep the money in their account for a specific time period.