Savings & Retirement
FMB offers a selection of Savings and Retirement options to help you become financially stable.
Regular Savings
Interest earning savings account with the added benefits of mobile & online banking and more.
- Minimum Balance to Open - $50.00
- A minimum balance fee of $2.00 will be imposed quarterly if the daily balance of the account falls below $50.00 any day of
the quarter. - Interest on your account will be compounded and credited quarterly.
- You must maintain a minimum daily balance of $50.00 in the account for each day in the statement cycle to obtain the annual percentage yield.
- We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
- Interest begins to accrue on the business day that you deposit non-cash items (for example, checks). At our discretion the Interest rates and Annual Percentage Yield may change. Please contact your local branch for current rates.
- If you receive your savings statement quarterly, you may make six (6) debit transactions free. If you receive your savings statement monthly, you may make two (2) debit transaction free. A debit item charge of $1.00 will be imposed for each withdrawal in excess.
- If you close your account before interest is credited, you will not receive the accrued interest.
- $10.00 service charge to close account if opened less than six (6) months.
- Free Internet Banking, Mobile Banking and Mobile Advantage Capture (service provider charges may apply).
- This account is an interest bearing account. Check with your local branch for rate information.
Money Market Account
If you're looking for flexibility while still earning interest at market-based rates, a money market account offers the best of both worlds.
- Minimum Balance to Open - $1,000.00
- Minimum Balance Fee of $7.00 will be charged if the daily balance falls below $1,000.00 any day of the statement cycle.
- If your account has been opened less than 6 months and you request it to be closed, there will be a $10.00 service charge.
- A debit item charge of $1.00 will be imposed for each debit transaction in excess of 6 per statement cycle.
- We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Interest begins to accrue on the business day you deposit non-cash items (for example, checks). You must maintain a daily minimum balance of $1,000.00 in the account each day to obtain the disclosed annual percentage yield.
- At our discretion, the interest rate and annual percentage yield may change at any time. Please contact us for current available rates.
- A NSF (non sufficient funds) charge of $35.00 will apply to overdrafts created by check, in person withdrawals or any electronic means (ACH or Internet Transfers) as applicable.
- Interest will be compounded monthly and credited to the account monthly. If the account is closed before interest is credited, you will not receive the accrued interest.
- Free Internet Banking, Mobile Banking and Mobile Advantage Capture (service provider charges may apply)
Certificates of Deposit
Our CD's range in maturity from 7 days to 5 years and may be automatically renewed.
- Minimum Balance to Open - $1,000.00
- Interest rates are based on current market rates at the time of purchase and are a fixed rate until maturity. Please contact your local branch for current available rates.
- Interest may be paid by check or credited to another deposit account. Interest may be compounded quarterly on certificates with maturities of 12 months or greater.
- A penalty may be assessed for early withdrawal.
Individual Retirement Account (IRA)
An Individual Retirement Account (IRA) is a savings account designed to help you prepare for retirement and can offer many tax advantages.
- Minimum Deposit to Open - $1,000.00
- Our IRA Certificates have a 12 month term.
- After the account is opened, you may make additional deposits into your account.
- Withdrawals with no penalty may be made after you have reached the age of 59 1/2. Disbursements may be made by check or credited to another deposit account.
- A penalty may be assessed for early withdrawal.
- Interest rates are based on current market rates at the time of purchase and are a fixed rate until maturity. Please contact your local branch for current rates.