Skip to main content

Contact UsLocations

Farmers & Merchants Bank

Savings & Money Markets

Pay yourself first.

Personal Savings Comparison Chart

Simple SavingsLucky Duck Super SavingsMoney MarketChristmas ClubIRAs
Earns Interest*Yes (compounded and credited quarterly)checked

Tiered Interest rates:
> $2,500 – $9,999.99
> $10,000 – $49,999.99
> $50,000 – $99,999.99
> $100,000 and above

Variable Terms
Monthly Maintenance FeeNoneNone$10 monthly maintenance fee if the daily balance falls below $2,500NoneNone
Free Online Bankingcheckedcheckedcheckedcheckedchecked
Free Mobile Banking Available for iPad, iPhone, and Android*checkedcheckedcheckedchecked
Minimum Opening Deposit$75$15$2,500NoneNone

*Additional Disclosure Information

  • Interest Bearing Accounts: Please check our current rates in determining account interest. Rates may change without notice. Fees could reduce earnings.
  • Overdraft Service: Overdraft service offered to accounts in good standing 60 days after account opening. The Overdraft Fee is $31 per item. Check our Automated Overdraft Disclosure for full details. Payment of overdrafts is discretionary and F&M/BOF reserves the right to withhold payment.
  • Mobile Banking: 3rd party message/ data rates may apply. Web access is required to use mobile banking. Check with your mobile phone provider for details on specific fees and charges. The network must allow SSL traffic.
  • eStatements: Must be enrolled in online banking to receive an eStatement. Checking account holders not signed up to receive eStatements will receive monthly paper statements.

Simple Savings

Earn interest and get six free withdrawals per quarter. There's no minimum balance requirement and you can open with just $75. It's that simple.

  • $75 minimum opening deposit
  • No minimum balance
  • Interest compounded & credited quarterly
  • 6 free withdrawals per quarter - $2 per item fee for any withdrawal over 6 per quarter
  • Statements are sent out bi-annually - the end of June and end of December
  • ATM card only (no debit card) - no charge for 1st card or stolen card ($10 fee for lost or damaged card)
  • Available for Business Accounts

Lucky Duck Super Savers

Super kids know saving is important! This children's savings account is perfect for kids 12 and under with only $15 to open. Earn interest and learn about saving!

  • $15 minimum opening deposit
  • For children ages 12 and under
  • Earns interest
  • No monthly service fee
  • 6 free withdrawals per quarter - $2 per item fee for any withdrawal over 6 per quarter
  • Complimentary super hero cape/gift items
  • Statements sent out bi-annually - the end of June and end of December

Christmas Club

Give yourself a Christmas Bonus. Enroll at any time and make deposits whenever you wish. You'll automatically get a check for the amount you saved by the second week of November, just in time for the holidays!

  • Open enrollment, any time.
  • Deposits can be made in any increment.
  • Non-interest bearing.
  • The amount saved will be credited automatically to the customer’s designated Checking or Savings account on or by the 2nd week of November.
  • $5 penalty for early withdrawal. Account will be closed at that time.
  • Account will remain open when money is disbursed in November and can start receiving new deposits for the following year.

Coverdell Education Savings Account

Get tax-free earnings on your child’s education savings with the Coverdell, an education savings plan for children up to age 18.

  • Education savings plan for children up to age 18
  • Parents make non-deductible contributions up to $2,000 per child per year
  • Earnings are tax-free when used for qualified educational purposes
  • Must be spent by age 30 or rolled over to another family member under the age of 30 years

Money Market Account

This account offers you a place to grow your money with interest. Both personal & business accounts are available.

  • $2,500 minimum opening deposit
  • No service fee if daily balance of $2,500 or more
  • $10 service fee if balance falls below $2,500 any day of the cycle
  • Allows 6 withdrawals per month
  • ATM card only (no debit card) - no charge for 1st card or stolen card ($10 fee for lost or damaged card)
  • $500 overdraft privilege
  • Tiered interest rates at four levels

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

Saving versus Building.

There's a big difference between saving money and investing to build wealth.

More Me Banking