Savings Accounts

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Statement Savings

Customers keep money in interest bearing account for future use as they desire. Customers keep their own records. Deposits and withdrawals accepted at any time over the counter.

Features

  • Minimum amount to open – $100
  • No monthly account service charge with monthly balances of $100 or more. **
  • Variable interest rate based on balances over $1.00. Rate subject to change quarterly. Interest paid on last business day of each quarter.
  • Quarterly paper statement; E-statement available.
  • Fee** for each withdrawal over 6 per month. Limit of six transfers or withdrawals via checks, debit card or other electronic transaction per month.
  • Can access account using ATM card. Can be added to an existing debit card as a secondary account.
  • Free online banking and mobile banking.
** Refer to Account Disclosures for current service charges and fees.

Additional Information

  • Maximum of six preauthorized transfers per month including electronic, internet and telephone debits, check or debit card to a third party.
  • Refer to interest rate charts and account disclosures for full details.
View Terms and Conditions of Deposit Accounts (PDF)

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Elite Gold Money Market

Customer’s funds remain available but earn higher interest than a savings account. Account has a higher minimum balance and may earn a higher interest than a savings account. Deposits accepted at any time.

Features

  • Minimum amount to open – $25,000.
  • No monthly account service charge** with daily balance of $25,000 or more.
  • Variable tiered interest based on market conditions, subject to change monthly.
  • Interest paid on daily balances of $25,000 or more, if balance is below $25,000 – no interest is earned**
  • Limit of 6 transfers or withdrawals via checks, debit card, or other electronic transaction per month.
  • Free online banking and mobile banking.
  • Monthly paper statement; E-statements available.
** Refer to Account Disclosures for current tiers, service charges and fees.

Additional Information

  • Account may be tied to a checking account to provide overdraft protection at no extra cost.
  • Maximum of 6 transfers per month, including electronic debits, internet, phone, checks or debit card transactions.
  • Refer to interest rate charts and account disclosures for complete details.
View Terms and Conditions of Deposit Accounts (PDF)

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Money Market Index

Customer’s funds remain available but may earn higher interest than a savings account. Account has a higher minimum balance and may earn a higher interest than a savings account or a Money Market Management. Deposits accepted at any time.

Features

  • Minimum amount to open – $5,000
  • Variable tiered interest based on market conditions subject to change monthly.
  • Limit of 6 transfers or withdrawals via checks, debit card or other electronic transaction per month.
  • Service charge** per month if balance falls below $5,000.
  • Free online banking and mobile banking.
** Refer to Account Disclosures for current service charges and fees.

Additional Information

  • Account may be tied to a checking account to provide overdraft protection at no extra cost.
  • Maximum of 6 transfers or withdrawals per month, including electronic debits, internet, phone, check or debit card transactions.
  • Refer to interest rate charts and account disclosures for complete details.
View Terms and Conditions of Deposit Accounts (PDF)

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Holiday Savings Account

Features

  • Holiday Savings deposits will be automatically transferred from another Farmers checking account.
  • Transfers can be weekly, biweekly, semimonthly or monthly
  • Additional deposits can be made anytime either electronically or at a Farmers teller window.
  • Special interest rate
  • Farmers will deposit principal plus accrued interest via an automatic transfer into your Farmers account in October.

Additional Information

  • * Any withdrawal before this account’s maturity will result in account closure. Other terms and conditions apply. Please consult your local Farmers National Bank office for further details.
View Terms and Conditions of Deposit Accounts (PDF)

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Health Savings Account (HSA)

Flexible and easy to use, a Health Savings Account is a tax-advantaged personal savings account that works with a qualified health plan. Individuals 18 years or older and who participate in a High Deductible Health Plan can make contributions to a HSA and use those funds to pay for medical expenses, or to save for future and retiree health expenses tax-free.

Summary

  • No setup or annual fees
  • $50 minimum balance to open
  • Earn competitive interest on entire balance
  • Can have tax-free contributions deposited directly from paycheck
  • If contributions are made after tax, the amount deposited is tax deductible
  • Withdrawals are tax free when used for qualified medical expenses*
  • Money rolls over year to year; no “use it or lose it” policy
  • HSA is not tied to any employer
  • Easy withdrawal access by check, debit, online, or teller

*Withdrawals for non-qualified medical expenses are subject to income tax and a 10% penalty. The 10% penalty is waived for persons 65 and over or who have become disabled.

Eligibility

  • Must be covered under a qualified, high deductible health plan
  • Cannot be claimed as a dependent on another person’s tax return
  • Cannot be enrolled in Medicare

Contribution Limits

Contribution limits are set by the IRS. Current 2015 contribution limits are:

  • $3,350 for a single person
  • $6,750 for a family
  • A person age 55 or older may make an additional $1,000 “catch-up” contribution
Click here to download the HSA Application.