Mercer Savings Bank

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Mercer Savings Bank

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Need help or have a question? Call 877-672-4543

We’re Not Going Anywhere.

Mercer Savings Bank offers convenient banking locations close to home.

How We Compare

Don’t Settle for Average Earnings.

  • Earn 5.00% APY on your entire balance
  • Add funds at any time
  • Access money like any other checking account
  • FDIC-insured
  • $25,000 minimum balance to open

Frequently Asked Questions?

Questions? We Have Answers.

A money market deposit account (MMDA) is a bank account that combines the features of a checking and savings account. MMDAs typically come with a higher rate like a savings account or CD, and you can access your money like any other checking account – by check, debit card, ATM withdrawal, or online.

A certificate of deposit (CD) is a time deposit account. When you open a CD, you must keep your money in the account for the full term. If you withdraw before the term's end, you will typically pay a penalty. Money market deposit accounts are more flexible and allow you to deposit or withdraw anytime.

Yes, MMDAs carry the same insurance as other Mercer Savings Bank deposit accounts.

You can deposit money into your account however and whenever you’d like. Direct deposit, mobile deposit, online transfer, and in-branch deposits are all accepted.

You can access your money like any other checking account – by check, debit card, ATM withdrawal, or online.

You can withdraw money from your MMDA whenever you’d like.

The effective annual percentage yield applies if interest is compounded. Interest will compound monthly. You must have a checking account with Mercer Savings Bank. The preferred rate is based on your account meeting the following criteria: 1) maintaining the minimum balance requirements, 2) receiving electronic account statements (eStatements), 3) maintaining a checking account at Mercer Savings Bank, and 4) increasing overall deposits with Mercer Savings Bank by at least $25,000. The preferred rate is valid until 06/30/2024 or until eligibility requirements are not met. Following the expiration of the preferred rate, we may change your rate at any time. $25,000 minimum balance required. Other fees may apply. Fees may reduce earnings.

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