Explore Personal Savings Accounts: Secure Your Future & Grow Your Money
Discover the perfect personal savings solution at F&M, a Lawrence Bank. Whether you're saving for a rainy day, a big purchase, or planning for retirement, we have a personal savings account designed to help you achieve your financial goals. Start building your savings today and enjoy the peace of mind that comes with a secure financial future.
View Savings FAQs
Traditional Savings Accounts: Build Your Financial Foundation
Build your financial foundation with our straightforward and rewarding personal savings accounts. Perfect for everyday savers and those just starting their financial journey.
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Smart Savings Account
Build healthy saving habits and watch your money grow. Whether you are putting aside money for a rainy day or a major purchase down the road, this personal savings account will help you develop good savings habits while earning interest on your money.
- Minimum Opening Balance – $50
- FREE Online Banking, FREE Mobile Banking with Mobile Deposit & FREE Telephone Banking
- View Current Interest Rates
- Quarterly Account Statements – Paper or eStatement
- $2 will be assessed for each withdrawal/transfer over 6 per month. View our Fees
Youth Savings Account
Empower the next generation with strong financial foundations. The key to building good savings habits is to start young, and F&M offers this personal savings account for persons under 21 years of age.
- Minimum Opening Balance – $50
- View Current Interest Rates
- $2 for each withdrawal/transfer over 6 per month
- No Service Charge
- Account Statements – Mailed quarterly
Frequently Asked Questions About Our Personal Savings Accounts
What do I need to open a personal savings account?
Typically, you'll need a valid government-issued ID (like a driver's license or passport), your Social Security number, and funds for your initial deposit. Specific requirements may vary for each personal savings account. You can contact us or visit a local branch for details.
How much interest will I earn on my personal savings account?
Interest rates vary by personal savings account type and current market conditions. You can find our current rates on our Current Rates page or by contacting us.
Are my personal savings accounts FDIC insured?
Yes, F&M is a member of the FDIC. Your deposits in our personal savings accounts are insured up to the maximum amount allowed by law. For accounts like the ICS Money Market, you can access even greater FDIC insurance coverage through the IntraFi network.
Can I access my personal savings account online?
Absolutely! Most of our personal savings accounts come with FREE Online Banking and FREE Mobile Banking, allowing you to check balances, transfer funds, and more, 24/7.
Are there any monthly fees on personal savings accounts?
Some personal savings accounts may have monthly maintenance fees, but these can often be waived by meeting certain balance requirements (e.g., Performance Money Market fee waived on balances of $2,500 and above). Our Youth Savings account has no monthly service charge. Please refer to the specific account details on this page or our fee schedule for more information.
How do I choose the right personal savings account?
The best personal savings account for you depends on your financial goals, your current savings amount, and how you plan to use the money. Consider factors like interest rates, minimum balance requirements, fees, and accessibility. Our team is happy to discuss your needs and help you choose the right personal savings account. Feel free to contact us or visit a branch.
Ready to Grow Your Savings with an F&M Personal Savings Account?
Whether you're interested in a high-yield Money Market, a straightforward Smart Savings Account, or a Youth Savings Account, F&M has a personal savings account to help you achieve your financial goals.