IRA, HSA, & CESA
Build a Brighter Future with Farmers & Merchants Bank
At Farmers & Merchants Bank, we’re here to help you plan confidently for life’s most important moments. Whether you’re preparing for retirement, managing healthcare costs, or saving for a child’s education, our tax-advantaged accounts give you the tools you need to succeed.
Accounts Offered
Individual Retirement Accounts (IRA)
• Choose a Traditional or Roth IRA to fit your retirement goals.
• Benefit from tax-deferred or tax-free growth depending on your account type.
• Competitive interest rates and straightforward rollover options.
Health Savings Accounts (HSA)
• Save tax-free for qualified medical expenses, from doctor visits to prescriptions.
• Convenient HSA debit card access.
• Balances roll over year after year, so your money is always yours.
• Earn interest while building a cushion for healthcare costs.
Coverdell Education Savings Accounts (CESA)
• Prepare for the future with tax-advantaged savings for education expenses.
• Use funds for qualified elementary, secondary, or higher education costs.
• Competitive rates help your savings grow as your student does.
Frequently Asked Questions (FAQ)
What’s the difference between a Traditional and a Roth IRA?
A Traditional IRA allows you to contribute pre-tax dollars, which may lower your taxable income now, and you pay taxes when you withdraw in retirement. A Roth IRA is funded with after-tax dollars, but qualified withdrawals in retirement are tax-free.
Who is eligible for an HSA?
To open a Health Savings Account (HSA), you must be enrolled in a high-deductible health plan (HDHP). HSAs let you save tax-free for qualified medical expenses, and balances roll over from year to year.
What can I use my CESA for?
A Coverdell Education Savings Account (CESA) helps you save for education costs—like tuition, books, or even certain K-12 expenses. Earnings grow tax-free, and withdrawals are tax-free when used for qualified education expenses.
How much can I contribute each year?
Contribution limits can change annually based on IRS guidelines. Our team will help you understand the current limits for IRAs, HSAs, and CESAs so you can maximize your savings.
Can I have more than one of these accounts?
Yes! Many of our customers have a combination of an IRA for retirement, an HSA for healthcare, and a CESA for education savings. We’ll help you design a plan that fits your unique goals.
How do I open an account?
It’s easy—just visit your local Farmers & Merchants Bank branch or contact us to get started. We’ll guide you through the process and answer all your questions.
Secure tomorrow, today.
Visit your local branch or contact us to learn more about opening an IRA, HSA, or CESA—and let’s build your financial future together.