Farmers & Merchants Bank
Quick Summary
- HSA savings account
The Verdict
Farmers & Merchants Bank provides essential HSA features with zero monthly maintenance fees and basic savings functionality, earning a 0/5.0 rating from HSA Orbit.
Since our start in 1903, our principles have not changed. And while we expanded our Boswell office twice (1985 and 2003), today we have four locations in three counties – Benton (Boswell since 1903 and Otterbein in 1978), Warren (Williamsport in 2020), and Tippecanoe (West Lafayette in 2012). We continue to be a privately held corporation, now with 28 employees and a board of directors of seven people who live in Benton, Warren and Tippecanoe Counties. We provide true local assistance and decision making in our service area, something that has mostly disappeared in the banking industry. And, we have grown from $40,000 in assets to over $197,000,000.
We weathered the depression during the 20’s and 30’s and none of our customers lost any money. We survived the inflation and farming challenges of the late 70’s and 80’s. We came through the banking collapse and the Wall Street recession in our recent past. With those challenges behind us, we look forward to the future. We continue to grow our customer base and loan volume; we continue to improve our support and assistance to our customers. And we still look to our vision statement to guide us to be the best bank we can be, “We will personally deliver quality financial products and services to better our customers and communities and provide a fair return to our shareholders.”
Key Features
Banking & Access
Includes debit card and online banking.
Investment Options
This provider focuses on cash savings without investment options.
Security & Insurance
Deposits are FDIC/NCUA insured for your protection.
Account Details
No minimum balance to open. no account opening fees.
Fee Analysis
| Fee Type | This Provider | Industry Average | Verdict |
|---|---|---|---|
| Monthly Maintenance | $0.00 | $0.69 | EXCELLENT |
| Account Opening | $0.00 | $1.88 | EXCELLENT |
| Account Closing | $0.00 | $1.95 | EXCELLENT |
Industry averages calculated from 853 providers in the HSA Orbit database.
Investment Options
Savings-Only Account
Farmers & Merchants Bank currently offers a savings-focused HSA without investment options. Your funds earn interest in a cash account.
Interest Rates
Interest rates are not currently available for this provider.
Contact Information
Address
302 S. Old U.S. Highway 41 Boswell, IN 47921 Customer Service Mailing Address P.O. Box 519 Boswell, IN 47921
Customer Service
(765)869-5513
302 S. Old U.S. Highway 41 Boswell, IN 47921 Customer Service Mailing Address P.O. Box 519 Boswell, IN 47921
At a Glance
Pros & Cons
The Good
- •No monthly maintenance fees
- •No account opening or closing fees
- •FDIC/NCUA insured deposits
The Bad
- •No investment options available
- •Interest rates not published
User Sentiment
Based on community feedback
Sentiment data coming soon
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