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CDs & IRAs

Certificate of Deposit (CD)

CD's are a safe, flexible and easy way to understand investments.  Lock into our highest savings rates by opening a certificate of deposit with Merchants & Farmers Bank.
  • Terms start at 1 month and can go up to 3 years
  • $2000 minimum deposit required to open
  • Early withdrawal penalties could reduce earnings
Contact Us today for current CD Rates.

Individual Retirement Account (IRA)

Having an IRA helps plan for a more secure retirement plus you can take advantage of tax savings. Whether your retirement is down the road or right around the corner, an Individual Retirement Account with Merchants & Farmers Bank can help you prepare for the future.
  • Types offered are Traditional IRA & Roth IRA
  • $500 minimum deposit required to open
  • IRAs are FDIC insured separately from your other funds at this bank and insured to the maximum allowed by law.
  • A summary is mailed annually showing fair market value and activity on the account.
Whether you want to take advantage of tax-deferred earnings/yearly tax deductions, want your earnings to grow tax free or set up an IRA to help pay for a student's education, we have a plan for you.  Stop in to speak with a representative today!
Traditional IRA Roth IRA
Deadline April 15 Deadline April 15
Possible tax credit, deferral or earnings Possible tax credit, deferral or earnings
May be deductible Non-deductible
No income restrictions for eligibility Income restrictions
Distributions generally included in income Qualified distributions are not included in income
Require minimum distributions at 73 No required minimum distributions
**Rates are subject to change without notice.**
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