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Financial Tools

Individual Retirement Accounts

F&M Trust has a variety of IRAs available to save for your future while deferring tax liability. Whether IRA contributions are deductible depends upon an individual's income, filing status, type of IRA, and coverage under an employer's qualified plan. We offer IRA Certificates of Deposit and Savings Accounts as well as other alternatives (non-FDIC insured investments) through F&M Investment Services.

Generally, IRA allowable contributions are:

  • individual contributions – 100% of earned income or $5000 per year, whichever is less, until age 70½ (Roth IRAs have no maximum age)
  • joint contributions – one individual must have earned income and the total annual contributions may not exceed $10,000 or a maximum of $5000 per account
  • catch-up contributions - persons 50 years of age or older may contribute $1,000 additional per year 

The best IRA for you will depend upon how much you have to open the account, how often you wish to make additional contributions, your investment comfortability, and when you'll need the money. Choose from these IRA solutions:

IRA Certificates of Deposit

Lets you save for a specific time period earning a fixed rate of interest. IRA CDs offer you:

  • Minimum $1000 to open
  • Interest compounds semi-annually
  • Rollover available
  • Access information about your IRA CD through the Freedom Access Center, or via F&M Trust Online Banking or Mobile Banking. 

Current interest rates

IRA Savings Account

Lets you save for retirement through regular contributions throughout the year. In addition, IRA Savings Accounts offer:

  • Minimum $250 to open, or $20 per month with direct deposit
  • Interest compounds semi-annually
  • Access information about your IRA CD through the Freedom Access Center, or via F&M Trust Online Banking or Mobile Banking. 

Member FDIC