Statement Savings accounts are available to anyone residing in the Wisconsin counties of Marinette and Oconto, and the County of Menominee in Michigan.
Account may be opened with a deposit of $25 or more.
If the balance requirement is met, there is no quarterly service charge. You must maintain an average daily balance of $50.00 during the calendar quarter to avoid a service charge. If the balance requirement is not met, a service charge of $1.00 per quarter will be assessed and collected by the bank.
A statement of activities is provided monthly. Alternatively, upon request, this statement may be combined with a checking or NOW account statement and be provided monthly.
No checks may be written against Savings accounts, but an unlimited number of withdrawals either in person, by mail, by messenger, at automatic teller machines, or by telephone if the withdrawal is mailed to you by check are allowed without charge.
Pursuant to Federal regulations, only six (6) pre-authorized, automatic or telephone transfers from a Savings account may be made during any calendar month. If more than the allowable number of pre-authorized, automatic or telephone transfers occur in any one calendar month, the account will be subject to closure by us.
This is a variable rate account, which means that the interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on the account daily. To view the current rate, click here.
Interest begins to accrue on the business day you deposit cash or non-cash items (such as checks). Interest does not accrue on amounts withdrawn on the date of withdrawal.
Interest is compounded and paid quarterly.
We use the daily balance method to calculate the interest on this account. This method applies a daily periodic rate to the principal in the account each day.
A F&M ATM Card may be linked to this account for use at automatic teller machines. You may also link your F&M MasterMoney Card, which you can use at Point-of-Sale merchants in conjunction with your checking account, and to your savings for ATM transactions.
A complete disclosure, as required under Federal Truth-in-Savings, of the terms and conditions on the Statement Savings account is available upon request.
About
Us Bank Products & Services
Rate Information Clubs & Programs
Privacy Statement
Comments & Feedback Vacation Planner
Student Union
Resource Guides
Tri-County Profile
Sports Information Home
Questions or comments?
E-mail Web Masters Dean Nault or
Lloyd Cook
Copyright © 1996-2004 Farmers & Merchants Bank & Trust
Last Updated:
Thursday, May 10, 2007
