Savings & CD's
First & Farmers National Bank's
FREEDOM Suite of Accounts gives you the freedom to bank when, where
and how you choose! From the traditional savings account to a
high-yielding money market option, we have the right combination of
flexibility and yield to make your money grow. For the latest
in rate information, please contact your local First & Farmers
National Bank branch.
FREEDOM
Savers
Goals are achieved on step at a
time. Our FREEDOM Savers account is a smart first-step in
establishing your savings program. Interest is earned on
every penny in your account. As long as a minimum daily
balance of $25.00 is maintained, the $2.00 monthly service charge
is waived. The minimum to open is
$25.00.
FREEDOM Junior
Savers
For savers age 18 and younger, FREEDOM Junior Savers accounts open
the door to savings. The account earns interest on all
balances, and requires no minimum balance. Your "Junior
Saver" can open their very own savings account with as little as
$5.00. It's never too early to learn to save!
Christmas Club
Savings
Take a little bit of the stress out of holiday shopping by planning
ahead. Christmas Club accounts can be opened mid-October
through January with as little as $5.00 or as much as
$2,500.00. Deposits can be made throughout the year, and
checks will be issued just in time to begin Holiday shopping the
following year. Interest is earned on all
balances, but will be forfeited if the account is closed prior to
maturity date. For Annual Percentage Yield (APY), please
contact your local FFNB branch. Fees may reduce
earnings. Maximum deposit $2,500.
Vacation Club
Savings
Whether you plan to take a trip out West or just install a pool in
the backyard, a Vacation Club Savings account is a great way to set
aside a little cash for your summer plan! Vacation Club
Savings accounts can be opened with as little as $5.00 mid-May
through August. The maximum amount of deposit is $2,500.00,
and deposits can be made throughout the year. For Annual
Percentage Yield (APY), please contact your local FFNB
branch. Interest is earned on all balances, but will be
forfeited if the account is closed prior to maturity date.
Fees may reduce earnings.
FREEDOM Money
Market
When the time comes that your money should be doing more for you
than just the basics, consider a Money Market investment
account. Open with only $100.00 and earn high yields with
balances greater than $1,000±. Avoid a $7.00 monthly service
charge by maintaining a minimum daily balance of
$2,500.¹
±Accounts which have ledger balances less than
$1,000 will not earn interest for the days the account falls below
the minimum.
Certificates of Deposit
- CDs
Short term, long term, big money or just
starting out money. No matter what your investment needs may
be we offer a variety of CDs.
- Fixed rate/term 1-60
months
- No penalty when you withdraw interest
earned²
Visit one of your local First and Farmers
branches to speak with an associate for details on current interest
rates.
Individual Retirement
Account-IRA
Save up for the better half of life with an IRA-the cornerstone of
most people's retirement planning efforts. Contributions to
your IRA may be tax deductible3 and interest earned will accumulate
on a tax-deferred basis.
New tax laws have made IRAs even more
attractive. Annual contribution limits are $5,000. Plus, if
you are 50 years old or older, you may even add $1,000 per year as
a "catch-up" contribution, allowing you to reach your retirement
savings goals much more quickly than you thought. Previous
year contributions can be made by April 15 of the current year.
If you expect to be in the same or higher tax
bracket at retirement a Roth IRA may be a better option for you.
While your contributions are not tax deferred they may be tax
exempt at any time.³
Whether you need to rollover a 401K or
whether you're just starting to save for retirement, First &
Farmers National Bank has the right option for you. Stop by
today and visit with one of our Customer Service
Representatives.
