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Savings Accounts

Sound money management begins with a quality savings account. Find the one that's right for you at Farmers and Merchants Bank.

Personal & Business

F&M Savings

Ben Franklin said “A penny saved is a penny earned”. Guess what? He’s right! And with this account it’s easy to save, with no minimum balance, three free withdrawals per quarter ($2 service fee if more than 3 withdrawals per quarter), and interest is compounded & earned quarterly. We'll take care of all that; all you have to do is keep the money in your account!* (Available for personal & business accounts.)

*Federal law prohibits excessive debits on savings accounts. Excessive activity is defined as more than six withdrawals per month from outside the bank.

Club Accounts

Lucky Duck Savers Club

It’s never too soon start good money habits! With this account you only need $15 to get your kids started on a path to financial success. There’s no monthly service fee & interest is compounded & earned quarterly. The account allows 3 free withdrawals per quarter ($2 item fee if more than 3 withdrawals per quarter).

F&M Christmas Club

Can’t depend on a yearly Christmas bonus? Make your own with this savings account & don’t worry about paying for all those gifts this year, it’s covered! You can enroll at anytime and deposits can be made in any increment. Make your 1-time withdrawal by the first or second week of November and you’ve got Christmas in the bag, and paid for!

F&M Vacation Club

Need of a vacation? With a Vacation Club account, you can practically finance your own custom vacation, just by stashing some extra every month. You can enroll at anytime and deposits can be made in any increment. Make your 1-time withdrawal by the first or second week of May to get your funds. Voila! Your vacation is taken care of!


Always consult with your Tax advisor.

Traditional IRAs

Pay yourself first! Your money grows tax-free and contributions are deductible. However, when funds are withdrawn after the traditional IRA matures, both the initial contributions and earnings are subject to federal income tax. You must begin withdrawing your funds at age 70 1/2.

Roth IRAs

I you think you’ll be wealthier when you retire than you are today, most tax experts agree that a Roth IRA is a good choice. That’s because with a Roth IRA, you pay taxes on the contribution now rather than later when you might be in a higher tax bracket and taxes may be even be higher. Of course, there's no way to know what tax rates will be in the future. With a Roth IRA, the earnings are tax-free, although the contributions are non-deductible. Upon retirement, qualified withdrawals are tax-free. Funds are not required to be withdrawn at any time and may even be left to your estate.

SEP IRA (Simplified Employee Pension Plan)

If you are self-employed or own a small business, the SEP IRA might be the right solution for your retirement plans. As an employer, you can make tax-deductible contributions directly into the IRA for all eligible employees. Restrictions apply and certain qualifications must be met. Please consult your accountant or tax professional.

SIMPLE IRA (Savings Incentive Match Plan for Employees)

This is a small business retirement plan in which employees and the employer may make pre-tax contributions and receive matching employee contributions. Restrictions apply and certain qualifications must be met. Please consult your accountant or tax professional.

Other TAX Benefits

Always consult with your Tax advisor.

Coverdell Education Savings Account

You can get tax-free earnings on your child’s education savings with the Coverdell, an education savings plan for children up to the age of 18. Parents may make non-deductible contributions up to $2,000 per child per year. The earnings on these contributions are tax-free if used for qualified educational purposes.

Health Savings Account

As health care costs sky-rocket and insurance deductibles increase, a tax advantaged savings plan for health purposes might be a smart financial move. The Health Savings Account is available to taxpayers who are enrolled in a high deductible health plan. The money contributed to the account is not subject to federal income tax at the time of deposit. Unlike a Flexible Spending Account (FSA), funds roll over and accumulate year over year if not spent. You can use the money anytime to pay for qualified medical expenses without federal tax liability. Depending on your tax bracket, your savings could be significant! Learn more about the Health Savings Account.


We have many options when it comes to Certificates of Deposit. Choose from a variety of maturities ranging from 3 Months to 3 years in length. Whether you would prefer a monthly, quarterly, annually, semiannually or compounded at maturity frequency, the choice is yours.

Custom Quoted CD’s Available | Please call 870.673.6911

Please Contact your Local Branch for Current Rates.