IRAs
Set aside funds for retirement now with an IRA from Farmers & Merchants State Bank. We offer three IRA options. Our experts can help you decide which best fits your needs.
Questions?- Traditional IRA
Traditional IRAs allow individuals to make regular contributions and reduce taxable income. We act as the custodian for the IRA, receiving the funds and investing them only in F&M IRA Certificates of Deposit.
- Save for the future
- Good interest rates
- Tax-fee withdrawals for certain distributions
- Contributions may be tax deductible
- FDIC insured
- Roth IRA
-
The Roth IRA is a nondeductible account that features tax-free withdrawals for certain distributions. Roth IRA accounts are designed to help those who want to save for their financial future through weekly, monthly, or annual deposits.
- Save for the future
- Good interest rates
- Interest is tax-free upon withdrawal
- Contributions are not tax deductible
- FDIC insured
- Coverdell Education Savings
Coverdell Education Savings Agreement (CESA) is a nondeductible account that features tax-free withdrawals for a child's higher education expenses. CESAs are designed to help those who want to save for their children's future education by making weekly, monthly, or annual deposits.
- Save for the future
- Good interest rates
- Withdraw funds penalty-free for educational expenses
- FDIC insured
