Plan for tomorrow with retirement savings that work for you.
Your future starts with today’s choices — pick the IRA that fits your goals and gain meaningful tax advantages along the way.
Features You'll Love
- Retirement and educational savings options
- No setup fees
- No monthly or annual fees
- Competitive interest above standard savings rates for balances of $500 or more
- Traditional IRA, Roth IRA, and Coverdell ESA options
- Self-directed IRAs available
- No setup fees
- No monthly or annual maintenance fees
- $5,000 contribution limit per year
- Additional $1,000 "catch-up" contribution allowed for ages 50+
- Contributions may be tax deductible*
- $500 minimum deposit to open
- Self-directed IRA option also available. Use funds to purchase and hold F&M Bancorp stock.
*Consult a tax advisor.
There are advantages to both Traditional and Roth IRAs. One of the biggest differences is the time at which you see the most advantage. A Traditional IRA provides potential tax relief today, while a Roth IRA has the potential for the most tax benefit at time of retirement.
Traditional IRA
- No income limits to open
- No minimum contribution requirement
- Contributions are tax deductible on state and federal income tax*
- Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
- Withdrawals can begin at age 59 ½
- Early withdrawals subject to penalty**
- Mandatory withdrawals at age 70 ½
Roth IRA
- Income limits to be eligible to open Roth IRA***
- Contributions are NOT tax deductible
- Earnings are 100% tax free at withdrawal*
- Principal contributions can be withdrawn without penalty*
- Withdrawals on interest can begin at age 59 ½
- Early withdrawals on interest subject to penalty**
- No mandatory distribution age
- No age limit on making contributions as long as you have earned income
*Subject to some minimal conditions. Consult a tax advisor.
**Certain exceptions apply, such as healthcare, purchasing first home, etc.
***Consult a tax advisor.
Use this calculator to determine your projected earnings from our Kasasa Cash account. Move the sliders or type in the numbers to see your potential rewards.
- Estimated Annual Rewards $0
- Estimated monthly interest earned* $0
- Monthly ATM fees refunded**$0
This calculator compares the costs of buying or leasing a vehicle. There are three sections to complete, and you can adjust and experiment with different scenarios.
- Net cost of buying $0
- Net cost of leasing $0
A fixed-rate, fixed-term CD can earn higher returns than a standard savings account. Use this calculator to get an estimate of your earnings. Move the sliders or type in numbers to get started.
- Total value at maturity $0
- Total interest earned $0
- Annual Percentage Yield (APY)0.000%
Whether it's a down payment, college, a dream vacation...a savings plan can help you reach your goal. Use the sliders to experiment based on length of time and amount per month.
- Monthly deposit needed to reach goal $0
This calculator can help you get a general idea of monthly payments to expect for a simple loan. Move the sliders or type in numbers to get started.
- Estimated monthly payment $0
- Total paid $0
- Total interest paid $0
Certificates of Deposit (CDs)
| Term | Minimum Required Opening Deposit | Interest Rate | APY |
|---|---|---|---|
| 3 Months (Assumes 90 Days) | $1,000 | 2.00% | 2.02% |
| 6 Months (Assumes 182 Days) | $1,000 | 2.25% | 2.27% |
| 1 Year (Assumes 365 Days) | $1,000 | 3.50% | 3.55% |
| 18 Months |
$1,000 |
3.50% |
3.55% |
| 2 Years | $1,000 | 3.50% | 3.55% |
| 3 Years | $1,000 | 2.25% | 2.30% |
| 4 Years | $1,000 | 2.25% | 2.30% |
| 5 Years | $1,000 | 2.25% | 2.30% |
Certificate of Deposits are subject to an early withdrawal penalty, if we allow the withdrawal of any of the principal prior to maturity.
Free Kasasa Cash Checking*
| Balance | Minimum Required Opening Deposit | Interest Rate | APY |
|---|---|---|---|
| $0 - $20,000 | $25 | 3.9284% | 4.00% |
| $20,000+ | $25 | 0.4988% | 4.00% to 1.08% |
| All balances if qualifications not met | $25 | 0.05% | 0.05% |
Qualifications
By doing banking basics that you’re probably already doing (we call them “qualifications”), you earn rewards. To earn your rewards, just do the following transactions and activities in your Kasasa Cash® account during each Monthly Qualification Cycle:
- Have at least 12 debit card purchases post and settle
- Be enrolled in and agree to receive E-Statements
- Be enrolled in and log into online banking
Even if you don’t meet your qualifications during the cycle, your Kasasa Cash account is still free. Plus, you’ll earn our base interest rate. And you can get right back to earning your full rewards the very next month!
Freedom Checking
| Balance | Minimum Required Opening Deposit | Interest Rate | APY |
|---|---|---|---|
| $0 - $4,999.99 | $2,000 | 0.05% | 0.05% |
| $5,000 - $9,999.99 | $2,000 | 0.05% | 0.05% |
| $10,000+ | $2,000 | 0.25% | 0.25% |
Health Savings Accounts
| Opening Deposit | Interest Rate | APY |
|---|---|---|
| $25.00 | 0.25% | 0.25% |
Health Savings Accounts (HSAs) are subject to limitations and/or penalties imposed by the Internal Revenue Service. Please see your HSA Agreement or your tax advisor for additional information.
Individual Retirement Accounts (IRAs)
| Type | Term | Minimum Required Opening Deposit | Interest Rate | APY |
|---|---|---|---|---|
| Regular IRA | CD - Fixed Rate | $500 | 1-5 Yr. | CD |
| Roth IRA | CD - Fixed Rate | $500 | Rates | Apply |
| Roth IRA | Variable Rate | $500 | 3.00% | 3.03% |
| Self Directed IRA | Variable Rate | $500 | 3.00% |
3.03% |
The applied interest rates and corresponding annual percentage yields are subject to change for Money Market Accounts and Certificate of Deposits on the day following the U.S. Treasury Bill Auction usually held on Monday of each week. We may change the applied interest rates and annual percentage yields on the Money Market Tiers each week.
Jumbo CDs ($100,000+)
| Term |
Min. Required Opening Deposit |
Interest Rate | APY |
|---|---|---|---|
|
12 Months |
$100,000 | 4.00% | 4.06% |
Certificate of Deposits are subject to an early withdrawal penalty, if we allow the withdrawal of any of the principal prior to maturity.
Kasasa Saver*
| Balance | Minimum Required Opening Deposit | Interest Rate | APY |
|---|---|---|---|
| $0 - $100,000 | $25 | 1.9819% | 2.00% |
| $100,000+ | $25 | 0.4988% | 2.00% to 1.25% |
| All balances if qualifications not met | $25 | 0.05% | 0.05% |
Qualifications
Qualifying for Kasasa Cash rewards automatically qualifies you for the highest Kasasa Saver® rate too. Simply do the following activities and transactions in your Kasasa Cash account each monthly qualification cycle:
- Have at least 12 debit card purchases post and settle
- Be enrolled in and agree to receive E-Statements
- Be enrolled in and log into online banking
It's no problem if you miss a qualification cycle. Both accounts are still free and earn our base interest rate. And you can get back to earning rewards the very next month you qualify.
National Market Rates (Source: Wall Street Journal)
| 09/23/2025 |
10/30/2025 |
|
|---|---|---|
| 13 Week U.S. Treasury Bill | 3.860% | 3.73% |
| 26 Week U.S. Treasury Bill | 3.705% | 3.63% |
| Federal Funds Target Rate | 4.00% | 3.75% |
| Federal Reserve Discount Rate | 4.25% | 4.00% |
| Prime Rate | 7.25% |
7.00% |
Effective July 21, 2010 FDIC deposit insurance permanently raised to $250,000 per depositor.
Ohio Homebuyer Plus Program
| Balance | Minimum Required Opening Deposit | Interest Rate | APY |
|---|---|---|---|
| $100 - $100,000 | $100 | 6.00% | 6.17% |
Statement & Minor Savings Accounts
| Balance | Interest Rate | APY |
|---|---|---|
| $0 - $9,999.99 | 0.05% | 0.05% |
| $10,000 - $24,999.99 | 0.10% | 0.10% |
| $25,000 - $49,999.99 | 0.15% | 0.15% |
| $50,000+ | 0.25% | 0.25% |
Statement Savings Accounts can be opened with $25.00 minimum.
Minor Savings Accounts can be opened with $5.00 minimum.
Super Saver Savings
| Balance | Minimum Required Opening Deposit | Interest Rate | APY |
| $0.01 to $9,999.99 | $25 | 0.05% | 0.05% |
| $10,000 to $24,999.99 | $25 | 0.10% | 0.10% |
| $25,000 to $49,999.99 | $25 | 0.15% | 0.15% |
| $50,000 to $99,999.99 | $25 | 0.25% | 0.25% |
| $100,000 and over | $25 | 3.50% | 3.55% |