Freedom Checking

Merchants Bank’s Freedom Checking gives you the freedom from a monthly service charge along with the freedom of banking anywhere, anytime with FREE online, mobile and text banking.

  • No monthly service charge
  • Free Mobile Banking, Text Banking and Online Banking
  • First 4 checks and first 4 bill payments each month are free
  • Free eStatements (required)

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Rewards Checking

Merchants Bank’s Rewards Checking lets you earn cash back* for each POS debit card transaction you make, and you’ll enjoy FREE online, mobile and text banking.

  • Earn cash back* on all debit card purchases
  • Free Mobile Banking, Text Banking and Online Banking
  • Automatic rebate for non-Merchants Bank ATM fees

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Growth Checking

Merchants Bank’s Growth Checking gives you the ability to grow your balance by earning interest on your checking balance, and you’ll enjoy FREE online, mobile and text banking.

  • Earn interest on your account balance
  • Earn cash back* on all debit card purchases
  • Free Mobile Banking, Text Banking and Online Banking
  • Automatic rebate for non-Merchants Bank ATM fees

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Health Savings Account

Our Health Savings Account (HSA) is a simple way to make the most of your health care dollars. Our HSA is an interest-earning account offering a low $25 minimum opening deposit and no monthly maintenance fee. Benefits include:

  • No set-up fee
  • No minimum balance
  • Free standard HSA checks

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Money Market Account

With our interest-earning and easy-access Money Market Account, you can save or store funds for longer-term purposes, at higher interest rates than standard savings or checking accounts.

  • Low $25 opening deposit
  • Low $25 average daily balance requirement
  • FDIC insured
  • May be used to fund overdraft coverage

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Individual Retirement Accounts

It's not always easy to think about the future. At Merchants Bank, we offer a variety of IRAs – so you can choose the account that best meets your needs. Our IRAs include: 

  • Traditional IRA
  • Roth IRA 
  • SEP IRA
  • SIMPLE IRA 
  • Coverdell Education Savings Account 

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CDARS®

  • If you're looking to invest larger sums of money – with the protection of FDIC insurance – the Certificate of Deposit Account Registry Service (CDARS®) Network program may be just the tool you need. With CDARS, you can purchase more than $250,000 in CDs at Merchants Bank and still be eligible for FDIC coverage.

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Certificate of Deposit Account

Our Certificate of Deposit accounts (CD) earn a higher interest rate than traditional deposit accounts. Funds are deposited into a CD with a set term and the funds are held in the account until the certificate's maturity date. Benefits include:

  • Worry free savings account with a higher interest rate than traditional deposit accounts
  • A variety of terms are available (ranging from 1 to 60 months) 
  • Interest rates are locked for the term of the certificate ensuring that the interest earned do not decrease even if that rates does

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