Lafayette Parks St Martinville sign at Breaux Bridge
Savings, Money Market, CDs & IRAs
Open a Savings, Money Market, CD and IRA Today!
All Savings & Money Market Accounts Feature:
- Online Banking
- Mobile app with Mobile Deposit
- eStatements
Choice Statement Savings Account
A perfect account for those looking to establish or continue growing their savings portfolio.
- Minimum Opening deposit – $50
- There is a $7.50 per quarter service charge if the daily balance falls below $100 on any day of the quarter
- Must have a minimum balance of $100 each day to earn interest
- $2.50 service charge per teller withdrawal or transfer greater than 6 per quarterly statement cycle
- $10 fee if account is closed within 6 months of opening
- Quarterly statement without images
- ATM card available
Choice Money Market Deposit Account
An account for the experienced saver; an excellent choice for high-balance savings.
- Minimum Opening deposit – $50
- There is a $5 service charge per statement cycle
- $5 per debit item greater than 6 per statement cycle
- Transfers and withdrawals made in person at the Bank (excluding checks) or by using an ATM do not count towards the 6 per month
- Tiered interest rates for optimal savings
- ATM/Debit card available
Christmas Club
A convenient holiday helper, to make for hassle-free holidays.
- Minimum Opening deposit – $10
- No monthly service charge
- If you require a withdrawal other than your annual payout, you will be required to withdraw the entire balance and will be assessed a $5 early closure fee
- Payout takes place annually in October
- Annual payout can be directly deposited into your FM Bank account
Certificates of Deposit
Why a CD?
Many people choose a CD for flexible term options and the ability to earn interest without being concerned about losing principal balances on the investment.
Benefits:
- Guaranteed returns
- Multiple term options
- Automatic renewal at maturity
- $500 minimum opening deposit
Individual Retirement Accounts
With IRAs, securing your retirement is incredibly easy. These retirement accounts are invested safely into Certificates of Deposit.
Traditional IRAs
Great for long-range retirement goals, the Traditional IRA allows you to invest your earned income in a tax-deferred manner. With a traditional IRA, you can invest your pre-tax dollars into a retirement account and earn interest. Your contributions are tax-deductible, depending on your income, tax filing status, and other factors. When you take your distribution, the income is treated as ordinary income and is subject to tax.
Roth IRAs
Similar to a Traditional IRA, this account is excellent for long term savings goals. However, a Roth IRA is funded with your after-tax dollars, and you are not subject to income tax on qualified distributions.