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!
Which IRA works for you?
| 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.**
Online Banking Services
Simple, streamlined banking.
Check balances, make transfers, pay bills and more—all from the comfort of your home.