Select A Savings Account To Suit Your Needs!
A sure way to secure your financial future is by SAVING today! There's nothing more rewarding than watching your MONEY GROW ... simply because you made a SMART CHOICE. Whether your savings mission is for a not so far off purchase or for a comfortable retirement ... your money is safe because it's FDIC insured for up to $250,000.
Easy Save Account
If you've had a hard time developing a savings discipline, F&M's new Easy Save Account is for you. With automatic transfers from checking to savings, and a much higher interest rate, it's the perfect way to save up for an emergency fund, the kids education or for that something special. Click here for more information on Easy Save.
- Account Requirements - Customer must have an F&M Checking Account and set up a minimum $50 per month automatic transfer from one or more F&M Checking accounts into the Easy Save Account.
- Minimum Opening Balance - $10
- Access To Funds - You can make withdrawals at any F&M Bank office or make transfers in and out of your account via Express Online Banking or Express Phone Banking.
- Withdrawals - Three allowed each quarter at no charge. Click here for fees charged for withdrawals above maximum.
- Interest Earnings - Calculated daily and credited quarterly
- Account Statements - Mailed quarterly.
- No Service Charge
Choice Money Market
 This is a smart investment choice if you want to earn aggressively tiered market interest rates, but maintain total access to you money!
- Minimum Opening Deposit – $2,500
- Tiered Interest Rates – Paid on all balances. As you increase your account balance, you’ll earn more! Your interest rate INCREASES based on the following tiers:
- $0 - $9,999
- $ 10,000 - $ 24,999
- $ 25,000 - $ 49,999
- $ 50,000 - $ 99,999
- $100,000 - $199,999
- $200,000 and up
Click here for current interest rates.
- 24-Hour Access – Withdrawals can be made at any F&M Bank office. You can transfer funds in and out of your account via Express Online Banking and our toll-free Express PHONE.
- Deposits – Add to your balance anytime
- Withdrawals/Transfers – Up to six free transactions are allowed each month. Click here for Fees
- Free Checks
- No Monthly Fees – On balances of $2,500 and above Click here for Fees
- Monthly Account Statements
Certificates of Deposit
If you want a guaranteed return on your investment, check into an F&M Bank Certificate of Deposit. CDs range from 90 days to five years, depending on the term and interest rate you desire. Contact any F&M Bank office for information on current and special CD interest rates.
- Minimum Investment – $1,000
- Interest Rates – Interest rates vary according to investment amount and term Click here for Interest rates
- Access To Interest Earnings – Receive your interest by check (monthly, quarterly, semi-annually or annually) or by Direct Deposit into an F&M Bank checking or savings account
- Automatic Renewal – Renewal options sent by mail allow you to renew your CD at the new interest rate without a trip to the bank
- Service Charge – A penalty may be imposed for early withdrawals Click here for fees
Ask us about our CDARS program, that allows us to offer FDIC insurance on CDs up to $50 million.
Retirement Accounts (IRAs)
 Planning for retirement is the most important step you can take to secure your financial future. Let F&M help you establish the appropriate Traditional, Roth or SEP to secure your golden years, or an Education IRA for your children. Contributions may lower your current tax bill, and you may be able to earn a higher interest rate than with a non-retirement account (consult a qualified financial advisor for tax advice). Visit the IRS website for more information regarding 2010 maximum contribution levels.
- Minimum Opening Deposit – $250
- Interest Earnings – Interest earnings are posted to your account quarterly
- Deposits – Can be made at any time
- Withdrawals – The IRS may impose a penalty for early withdrawals
- Account Statements – Mailed annually
IRA Plus
This unique TIERED IRA lets you start small and work your way up to significant retirement savings. With this flexible account, you make deposits as often as you choose!
- Opening Deposit – $100
- Interest Earnings – Interest earnings are posted to your account quarterly. IRA Plus is a tiered interest rate account that earns higher interest based on higher balances. Interest rates may reprice with the market.
- $ 0 - $ 2,999
- $ 3,000 - $ 9,999
- $ 10,000 - $ 24,999
- $ 25,000 - $ 49,999
- $ 50,000 - $ 99,999
- $100,000 and above
- Click here for current interest rates
- Deposits – Can be made at any time
- Withdrawals – The IRS may impose a penalty for early withdrawals
- Account Statements – Mailed quarterly
Savings Account
 Whether you are putting aside money for a rainy day or a major purchase down the road, this account will help you develop good savings habits while earning interest on your money
- Minimum Opening Balance – $100
- Access To Funds – If you have an F&M Bank checking account, you can make deposits and withdrawals at any F&M Bank office. Transfers in and out of your account can be made via Express Online Banking and Express PHONE. You can likewise get cash from your account at any VISA or Cirrus network ATM worldwide (fees may be charged by other banks for using their ATMs).
- Interest Earnings – Calculated daily and credited quarterly on balances of $500 and above
- Withdrawals – At least three allowed each quarter at no charge Click here for Fees
- Account Statements – Mailed quarterly
- No Service Charge – On account balances of $500 and above. There is no service charge for persons age 50 and above Click here for Fees
Youth Savings
The key to building good savings habits is to start young. F&M Bank offers this NO FEE savings account for persons under 21 years of age.
- Minimum Opening Balance – $50
- Interest Earnings – Calculated daily and credited quarterly on ALL BALANCES
- Withdrawals – At least three allowed each quarter at no charge Click here for fees
- No Service Charge
- Account Statements – Mailed quarterly
Health Savings Account
Health Savings Accounts (HSAs) offer a new way to pay for health care. To qualify, you must be covered by a high deductible health plan (HDHP). HSAs let you save for current and future health care expenses on a tax-free basis. You control the money in your HSA and make decisions on how and when to spend the money.
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