Savings Accounts

Life is unpredictable, you never know what is going to happen, and you never know when you may have to buy something for your car (tires, battery, motor, etc.) or even for your house (refrigerator, cooking stove, heating/cooling unit, etc.). Be prepared for these moments with our interest-bearing saving accounts. When you have funds already put back for emergencies, it will take some of the stress off of your shoulders. Don't wait for something to happen, start saving now!

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Compare Savings Accounts

Annual Percentage Yield (APY) assumes principal and interest remain on deposit for one year at the same interest rate. Service charges and fees may reduce earnings.

FeaturesRegular SavingsVacation ClubChristmas Club
Minimum Deposit $100 $0 $0
Charges/Fees If your daily balance falls below $100 at any time during the quarter, a $3 quarterly maintenance fee will be assessed One free withdrawal per annual cycle; additional withdrawals $30 each $30 early withdrawal penalty

Interest Rate (APY)

As of December 15, 2017

0.45% 0.65% 0.65%
Number of Deposits Allowed Unlimited $5,000 Annual Deposit Limit $6,000.00 Annual Deposit Limit
Number of Withdraws Allowed Allowed 20 electronic and/or paper debits to post to your account each quarterly statement cycle with no fee.1 One, without a fee. None without a fee
Excessive Withdrawal/Item Fee A fee of $2 will be assessed at the end of each quarterly statement cycle for each additional debit posted after 20. One free withdrawal per annual cycle; additional withdrawals $30 each $30 early withdrawal penalty
Benefits Free: Notary Services, Telephone Banking, Internet Banking, Mobile Banking, and Mobile Deposit (Upon Request) Free: Notary Services, Telephone Banking, Internet Banking, Mobile Banking, and Mobile Deposit (Upon Request) Free: Notary Services, Telephone Banking, Internet Banking, Mobile Banking, and Mobile Deposit (Upon Request)
Statement Quarterly N/A N/A

1 With the exception of loan payments to us, you may not make more than six preauthorized, automatic or telephone transfers (including telephone banking and bill pay, internet banking and bill pay, and PC banking payments and transfers) each month. Also included in the six per month limit are withdrawals made by a draft, debit card, check card or similar order made by the depositor and payable to a third party (provided such transactions are allowed by us for your particular type of account).

Certificate of Deposit

Another way to save money is by opening a CD (Certificate of Deposit). Our CD's allow the customer to pick the term that works best for them and earn a certain interest rate for that term. CD's are a great way to start saving for your child's college.

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CertificatesRatesAPYMinimum Balance to OpenMinimum Balance to Obtain APY
3 months (90 days) 0.20% 0.20% $1,000 $0
6 months (180 days) 0.45% 0.45% $1,000 $0
12 months (1 year) 0.65% 0.65% $1,000 $0
18 months (1.5 years) 0.85% 0.85% $1,000 $0
24 months (2 years) 0.90% 0.90% $1,000 $0
30 months (2.5 years) 0.95% 0.95% $1,000 $0
36 months (3 years) 1.00% 1.00% $1,000 $0
48 months (4 years) 1.15% 1.15% $1,000 $0
60 months (5 years) 1.35% 1.35% $1,000 $0
  • Rates as of December 15, 2017
  • Monthly Interest Checks: $1,000 minimum
  • Penalty for Early Withdrawal: 3-12 months - 1 month interest, 15-60 months - 3 months interest
  • Interest is accrued using the average daily balance method.
Exchange Rate CertificatesRateAPYMinimum Balance to OpenMinimum Balance to Obtain APY
18 months (1.5 years) 0.85% 0.85% $1,000 $0
30 months (2.5 years) 0.95% 0.95% $1,000 $0
60 months (5 years) 1.35% 1.35% $1,000 $0
  • Rates as of December 15, 2017
  • Auto renewal
  • No interest check
  • Rate can be raised only one time during each renewal term
  • Penalty for Early Withdrawal: 3-12 months - 1 month interest, 15-60 months - 3 months interest
  • Interest is accrued using the average daily balance method.

Individual Retirement Accounts

The sooner you begin saving for retirement, the larger your nest egg will be when you need it. Put money aside at your own pace and earn competitive rates of interest until you begin withdrawing funds in retirement. An IRA will supplement Social Security or other retirement income, and the amount you contribute each tax year could reduce the amount of money on which your taxable income is based. Let us help you save for your future with a fixed or variable IRA. A Farmers & Merchants account representative will be happy to guide you through the arrangements.

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IRAsRateAPYMinimum Balance to OpenMinimum Balance to Obtain APY
Traditional 12 months Fixed 0.65% 0.65% $0 $0
Traditional 12 months Variable 0.65% 0.65% $0 $0

Roth 12 months Fixed

0.65% 0.65% $0 $0

*Rates as of December 15, 2017
*No penalty for early withdrawal
*Interest is accrued using the average daily balance method.

 

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