Products and Services Guide

• Savings Accounts
• Certificates of Deposit
• Visa Debit Card
• WebPay
• Overdraft Privilege
• Mobile Banking
• eStatements
• Checking Accounts
• Retirement Plans
• ATM Machines
• Online Banking
• Popmoney
• Check Safekeeping
• Mobile Deposit

• Online Mortgage Application
• Home Loans
• Consumer Loans
• Commercial Loans
• Government Loans (USDA, FHA, VA)
• Home Equity Lines of Credit
• Construction Loans
• Auto Loans
• Visa Credit Cards

• Safe Deposit Boxes
• Notary Public Service
• Night Depository
• Cashier’s Checks
• Loose Coin Redemption

The NOW checking account pays interest on your checking account balance.  This account gives you the convenience of a checking account but the ability to earn interest on the balance.

• Minimum balance to open is $50.00.
• Interest compounds daily and credits monthly.
• Paper statements or eStatements available.
• Use your Visa debit card/ATM card with this account.
• Unlimited check writing.
• Real time transactions. Deposits post immediately.
• Overdraft Privilege available upon approval.
• Online Banking, WebPay and Popmoney for your convenience.
• Mobile Banking and Mobile Deposit.

ezChecking is the account for ease of banking wherever you are.  This is the account for you if you wish to avoid keeping track of interest and fees.

• Minimum balance to open is $50.00.
• No minimum balance is required.
• Free eStatements or $5.00 paper statement.
• Use your Visa debit card/ATM card with this account.
• Unlimited check writing.
• Real time transactions. Deposits post immediately.
• Overdraft Privilege available upon approval.
• Online Banking, WebPay and Popmoney for your convenience.
• Mobile Banking and Mobile Deposit.

Our fixed rate certificates allow you to choose a term and rate that fits your needs.  You lock in that rate for the term.  These accounts offer the options to compound the interest, transfer to an existing account or have it mailed to you monthly or quarterly.

• Open a certificate of deposit for as little as $100.00.
• Earn competitive local market rates.
• Interest payment options available.
• Receive an actual transaction record to keep your account record on file at a glance.
• View your accounts for free with our online banking.

Our variable rate certificate of deposit has the ability to adjust the rate quarterly dependent on market trends.  A great feature of our variable rate CD is the option to add to the account for the first year, any amount, any time.

• Open a certificate of deposit for as little as $100.00.
• Earn competitive local market rates.
• Interest payment options available.
• Receive an actual transaction record to keep your account record on file at a glance.
• View your accounts for free with our online banking.
• Make deposits to the existing CD without extending the maturity date during the first year.

The statement savings account gives you the option to do your transactions electronically either though ACH, ATM or online banking.

• Minimum balance to open is just $100.00.  If under age 21 or over 65, the account can be opened with any balance.
• Interest compounds daily and credits quarterly.
• You ATM card can access this account at an ATM for deposits, withdrawals and transfers.
• Online banking access 24 hours a day.
• Monthly statements or eStatements available.

The passbook savings keeps all transactions up to date in the passbook for you.  Just bring in the book to have it posted.  This is a great choice for your child’s first savings account.

• Minimum balance to open is just $100.00.  If under age 21 or over 65, the account can be opened with any balance.
• Interest compounds daily and credits quarterly.

The 7 day notice account gives you a CD rate with the flexibility of a savings account.  You just give us a notice 7 days before withdrawing funds.  It is that simple.

• This account earns the 91 Day Certificate of Deposit rate.  This rate subject to chance weekly.
• Minimum balance to open is $2,500.00
• Deposits must be at least $1,000.00
• Interest compounds quarterly and credits quarterly.

Access your checking and/or statement savings account through an ATM for:

• Balance inquiries.
• Deposits or withdrawals.
• Transfers between the accounts.
• Four convenient MSB ATM locations or any network ATM.

A Visa debit card works like a check, only better.  When you make purchases, the amount is deducted directly from your checking account.  It also works as your ATM card.

• Save money by not writing checks for purchases.
• Easier than checks and cash.

Online Banking allows you to do your banking anytime using the Internet.

• Available 24 hours a day, 7 days a week.
• View your account balances and transactions.
• Transfer funds between accounts.
• Download account statements.
• Set up and view eStatements.
• Set up alerts to be notified by email for low balance, check clears, or when a payment is due.

WebPay is a feature of online banking that allows a customer to pay bills directly online.

• Pay your bills anytime day or night.
• Pay up to 15 bills per month for free.
• No stamps, no envelopes and no hassles.
• Set up recurring payments.
• Set bill reminders to track when payments are due.
• A billing history allows you to view recent payments.
• Set up eBills – no bills coming through the mail.

Popmoney is an online banking service through WebPay to send or receive money to/from anyone within the U.S. using just an email or mobile phone number.

• No one holds your money, goes directly from account to account.
• Send up to $10,000 per week.
• Transfers quickly within two days.

• SMS Text Messaging
• Mobile Browser
• Mobile App – Remote Deposit
• Text Message Alerts

An investment retirement account in which a worker makes tax deductible contributions up to a certain limit per year.  Unlike Roth IRAs, contributions are tax deductible, but withdrawals are taxed, effectively deferring tax on the account until the worker begins making withdrawals in retirement.  Importantly, however, tax deductibility of contributions depends on one’s tax bracket.  The limit to annual contributions varies by year and is indexed to inflation.

• Must have earned income to contribute.
• Contributions may be fully deductible for tax year.
• Contributions and interest tax deferred until withdrawn.
• Distributions required at age 70 ½.

An investment retirement account in which a worker makes no-tax deductible contributions up to a certain limit per year.  Unlike Traditional IRAs, withdrawals are tax free but contributions are not deductible.  The limit to annual contributions varies by year according to inflation.

• Must have earned income to contribute.
• Contributions are not tax deductible for tax year.
• No required minimum distributions ever.

A retirement plan designed for persons with self-employed income and employers for their employees.  The employer makes all contributions, which are tax deductible for him/her into the employee’s Traditional IRA plan.

• Employer-sponsored retirement plan.
• Tax deduction for the employer.
• Contributions and interest are tax deferred until withdrawn.
• Distributions required at age 70 ½.

An account into which one may make non-tax deductible contributions, assuming they will be used to pay for the education of the account holder.  If the funds are in fact used for education, withdrawals from a Coverdell account are tax exempt up to the total cost of education.  Importantly, any tax liability on a Coverdell account is assessed at the account holder’s tax bracket, rather than the contributor’s.  This protects the account holder from an excessive tax liability in the event a wealthy parent made most or all of the contributions.

• Established for the benefit of a child under age 18.
• Contributions are not tax deductible.
• Tax-free withdrawals for qualified education expenses.

• Check writing convenience
• Low competitive rates
• Emergencies
• Vacations
• Educational expenses
• Large purchases

• Automobile – new and used
• Personal (secured)
• Personal (unsecured)
• Recreational vehicle – new and used
• Home equity
• Home improvement (unsecured)
• Home improvement ( second mortgage)

• New and used trucks, boats, motor homes, and motorcycles
• Vacations
• Weddings
• Education
•  Home furnishings

• Mercer Savings Bank will loan up to 95% of the total lot and construction cost of your new home, subject to appraisal plus private mortgage insurance.
• A complete set of blueprints, construction specifications, cost estimate sheet and contract are required at time of application.
• You must have a general contractor.
• You authorize each disbursal from your construction account by written voucher (order to pay funds) signed by you and your contractor.
• Lien releases are obtained prior to dispersal from your construction account.
• Mercer Savings Bank guarantees your interest rate at loan closing.  The interest rate during construction is the same as the rate of the permanent loan.
• During construction, you pay monthly interest on the amount of your loan outstanding.  Regular monthly payments including principal and interest begin the first of the month following completion of your home.
• You have up to 60 days following loan closing to start construction.
• You have up to 6 months to complete construction.

• Loans up to 95% of purchase price, subject to appraisal plus private mortgage insurance.
• Loan terms up to 30 years.
• Competitively priced 15-year and 30-year fixed rates.  We also have a 7 year adjustable mortgage loan (AML).

• Have available information pertaining to your personal financial records including account numbers and balances of existing debts and deposits, 2 years W-2’s and 1040’s, and most recent 30-day pay stubs.
• Bring your sales contract with you at the time of application.
• Self-employed individuals should bring their IRS tax returns for the past two years.
• Owners of incorporated companies and sole proprietors should bring their most recent 2-year operating statements and corresponding balance sheet at time of application.

• USDA Loans – 30 year fixed
• FHA Loans – 30 year fixed
• VA Loans – 30 year fixed

• In Person
• Online (Certain loans apply)

• Loan application must be completed
• Verification of income (ex. current pay stubs; Social Security and /or pension checks; W-2’s; 1040’s)

• New and Used Car Loans
• Mortgage Loans
• Home Equity Loans
• Business & Equipment Loans
• Personal Unsecured Loans
• Recreational Vehicle Loans
• Motorcycle Loans
• Boat Loans
• Visa Credit Cards

After the application is completed, approval is based on:

• Ability to repay
• Credit records of applicants
• Collateral offered

Yes, by completing a new credit application.

• No hidden charges
• No penalty for early repayment
• Fast, efficient service
• Extra principal payments accepted anytime
• Payments can be made by mail, in person, or online
• All loans are confidential
• Fixed or variable rates
• Simple interest on declining unpaid balance