Savings

It’s never too soon to start saving. Savings accounts earn interest to provide long-term rewards while still providing accessibility to your funds. As with checking accounts, funds are insured by the FDIC.

Why deposit your money with us? We’re a mutual bank, meaning we don’t have any shareholders. As a customer, you are a part-owner of the bank. And what’s more, your money stays local—when you deposit with us, a large portion of it goes back into the local community through loans.

5 Types of Savings Accounts

At Mercer Savings Bank, we offer five types of savings accounts for all stages of life…from a simple interest-bearing account to Individual Retirement Accounts (IRAs).

A Statement Savings Account offers more flexibility with a full access to online banking, debit card, direct deposit and automated payment options.

  • A low minimum deposit is required to open this account
  • Monthly statements show all transactions
  • Interest compounds daily, paid quarterly

A Passbook Savings Account is our most basic, interest-bearing account that is an ideal starter account. Make deposits or withdrawals any time with your passbook.

  • Competitive interest rates
  • Interest compounds daily, paid quarterly

A Seven-Day Notice Account is ideal for customers who want higher interest rates and don’t require immediate access to their funds. This account offers the highest interest rates of all of our checking and savings account options.

  • Must give at least seven days of notice to withdraw from this account without penalty
  • High interest rate
  • No maturity date

Certificates of Deposit (CDs) are low-risk investments with higher yielding interest rates which allow you to determine the length of the CD and match returns with future fund requirements. We offer many different terms and competitive interest rates on our CDs from seven days to five years.

  • Choice of terms and rates
  • Variable or fixed rates
  • Interest compounded daily

Check out our rates now.

Individual Retirement Accounts (IRAs) provide financial security and offer tax-deferred, higher-yield savings for retirement or higher education.

  • Your choice of traditional IRAs, rollover IRAs, Roth IRAs and educational IRAs
  • Various rates and terms
  • Higher yielding interest rate
  • Match returns with future funds requirements
  • Deposits can be tax-free or tax-deferred
  • Rates based on amount and term
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