Merchants and Farmers Bank Savings Accounts are a great investment
alternative for your savings needs.
This account requires $100.00 to open and usually pays a little more
interest than Passbook Savings. We furnish you with a transaction
register for you to record your deposits and withdrawals. Interest is
compounded quarterly and is credited to your account quarterly. You will be
charged a $2.00 service charge for each withdrawal over one per month.
Statements are mailed quarterly on this account.
You must deposit $10.00 to open this account. Interest is compounded
annually and is credited to the account annually. At the end of the club
account period on November 15, the funds in the account will be mailed to
you. There is a $10.00 service charge for any early withdrawal on this account.
Certificate of Deposits
These accounts are available in terms of one month up to five years. You
must deposit $1,000.00 to open these accounts. You may have the interest
credited back to the account, a check mailed to you or deposited in an
account that you designate.
Individual Retirement Accounts
Whether you are looking for a traditional, ROTH or Coverdale Saving Account
(Educational IRA), Merchants and Farmers Bank has a retirement plan for you.
You must deposit $100.00 to open these accounts. We offer fixed and variable
rates on these accounts in terms of ninety days up to three years.