Save Smart. Earn More.
The Advantage Money Market account helps you put larger balances to work with competitive, tiered interest rates that increase earning potential while keeping your money accessible when you need it.
Designed for bigger savings goals.
As your balances grow, your savings should grow with them. A Money Market account offers a convenient way to earn more on larger balances while maintaining the flexibility to access your funds when opportunities arise or unexpected expenses occur.
Advantage Money Market
Savings that reward your progress.
Combining competitive, tiered rates with convenient access to your funds helps you make the most of larger balances.
A great option for savings goals that deserve stronger earning potential.
Open with Confidence
Open your account with just $100.
Rewarding Growth
Tiered interest rates reward higher balances with increased earning potential.
Savings within Reach
Convenient access to your funds when you need them.*
*Subject to transaction limits; no debit card issued.
Account Features
- $100 minimum opening deposit
- Competitive, tiered rates— higher balances earn higher rates
- Avoid the $15 monthly service charge by maintaining a $5,000 minimum daily balance
- Free digital banking services, including eStatements, learn more.
- $10 fee per withdrawal/transfer over 6 per statement cycle
- Complimentary Intro Pack of checks at account opening
Explore more ways to reach your goals.
F&M offers savings options designed to fit where you are now and where you’re headed next.
Advantage Savings Account
A simple way to save while keeping easy access to your funds.
Certificates of Deposit
Don't need the money right away? Lock in a fixed rate and guaranteed APY for the term; early withdrawal penalties may apply.
Individual Retirement Accounts
Save for retirement with options designed to help you work toward your long-term financial goals.
Explore IRAsMake the most of your savings.
Whether you're building an emergency fund, saving for a major purchase, or managing larger balances, F&M offers solutions designed to help your money work harder. Visit your local branch to find the account that's right for you.
Frequently Asked Questions
What Is a Money Market Account?
A Money Market Account (MMA) is a bank account that combines the benefits of a savings and a checking account. It's a mid-level interest account, typically accruing more interest than most checking and savings accounts, and less interest than many mutual funds or other high-interest accounts.
How does an MMA compare to a Savings Account?
Both generate interest, but Money Market Accounts (MMAs) typically offer higher interest rates than standard savings accounts. MMAs may also have higher minimum balance requirements. Savings accounts often have lower or no minimums and might offer more flexibility for frequent small deposits, while MMAs are geared towards growing larger balances with some access and potentially check-writing or debit card features (varies by MMA type).
How does an MMA compare to a Checking Account?
Checking accounts are designed for daily transactions and typically offer unlimited withdrawals and features like debit cards and check writing. They usually earn very little or no interest. Money Market Accounts (MMAs) are better for short to medium-term savings, as they accrue interest at a higher rate than checking accounts. However, MMAs have limits on the number of certain types of withdrawals per month, encouraging saving.
Is an MMA good for long-term savings?
MMAs are best for short to medium-term goals like a vacation or an, such as retirement, other accounts, like IRAs or investment accounts, such as IRAs or investment accounts may offer better growth potential or tax advantages.
Are F&M MMAs FDIC insured?
Yes, all F&M deposit accounts, including Money Market Accounts, are FDIC-insured up to the maximum allowable limits, protecting your funds. For a low monthly fee, you can access extended FDIC insurance through a network for larger deposits. Contact us for more information.