CDs & IRAs

Certificates of Deposit
An FMB Bank Certificate of Deposit offers a high rate of return with a variety of terms to meet your needs. A Certificate of Deposit is our most popular investment product because deposits are safe, invested locally and FDIC insured. Here are a few of the additional benefits you’ll receive with a FMB Bank CD:

  • Our guarantee of a competitive rate
  • The peace-of-mind that comes with a guaranteed rate of return
  • A low minimum deposit requirement
  • The flexibility of several CD options with different rates, maturities and compounding policies
  • Interest on a CD can be paid to the customer or reinvested back into the CD
  • Interest can also be deposited directly into any FMB Bank deposit account
  • Upon maturity, CDs are automatically renewable (substantial penalty for early withdrawal)

Individual Retirement Accounts
An IRA is a personal, tax-sheltered retirement plan. FMB Bank offers three different IRA plans for customers to choose from, so investing can be tailored to fit your individual needs. With all IRAs, there is a substantial penalty for early withdrawal.

Traditional

  • This is a custodial account for an individual with earned income
  • Grows tax-free, but disbursements are subject to tax
  • Deposits can be up to $7,000/year and $8,000/year for those age 50 and over in 2025
  • Interest is compounded semi-annually
  • Disbursements can begin at age 59 1/2
  • IRA certificates can be automatically renewed
  • IRAs can be transferred from other institutions at no charge
  • Disbursements can be made before retirement age for qualified reasons

Roth IRA

  • Funds invested are after tax dollars
  • Grows tax-free and disbursements can be tax-free
  • Contributions are not tax deductible (Income limits apply)
  • IRA certificates can be automatically renewed
  • Deposits can be up to $7,000/year and $8,000/year for those age 50 and over in 2025
  • Interest is compounded semi-annually
  • Disbursements can be made before retirement age for qualified reasons

Coverdell Education Savings Accounts

  • This IRA is designed to save for a child’s education
  • Not only can this IRA grow tax-free, but disbursements are also tax-free when used to pay for qualified education expenses
  • Deposits can be up to $2,000/child/year (Income limits apply)
  • Interest is compounded semi-annually
  • IRA certificates can be automatically renewed