Statement Savings

This account is designed to help you establish your nest egg for the future. You will receive a detailed statement either monthly, if you elect a combined statement with your checking account, or quarterly if you have no checking account.

 •Minimum opening deposit $50.

 •Maintain a daily balance of $100 to avoid a $3 monthly service charge.

 •You may make five free withdrawals each month. An excess transaction fee of $1 is charged for each transaction over five. You are limited to six preauthorized transfers per month including ACH debits. Excess transaction fee of $10 applies to each transaction over six per month.

 •This is a variable rate account subject to change at the bank’s discretion.

^ Back to TOP ^

Money Market

Fairmount Federal’s Money Market account is the perfect savings vehicle for those who aren’t comfortable with the volatility of the current stock market but who also don’t want to lock up their funds in CDs. This account pays competitive yields and is easily accessed by check.

 •Minimum opening deposit $2,500.

 •Maintain minimum daily balance of $1,500 to obtain annual percentage yield.

 •Six transfers per statement cycle with no more than 3 by checks; $10 each additional withdrawal, check paid, automatic transfer or payment over six.

 •Maintain $2,500 daily balance or an average daily balance of $10,000 to avoid $10 monthly service charge.

 •This account requires Check Safe Keeping.

 •A Tiered Variable Rate account.

^ Back to TOP ^

High Yield Passbook

For those who still prefer the passbook style account, Fairmount Federal has one.

 •Only a $500 minimum to open the account.

 •This is a Variable Rate account subject to change at the bank’s discretion.

^ Back to TOP ^

Checking Accounts

We have a variety of checking accounts including one for those 55+ in age. Contact us to determine which is the best for you.

^ Back to TOP ^

Certificates of Deposit

These investment vehicles range from six months to five years in duration.

 •Minimum opening balances are as low as $1,000.

 •Interest is credited monthly.

 •There is a substantial penalty for early withdrawal from these accounts.

^ Back to TOP ^

IRA Accounts

If you are concerned about having enough income during your retirement years, take advantage of your Individual Retirement Account opportunities at Fairmount Federal.

 •Even if you already participate in an employer or government-sponsored retirement plan, you can still contribute to an IRA if you earn income.

 •Fairmount Federal IRAs have terms of 18 and 30 months with a minimum deposit to open of $100.

 •For more information about IRAs call our office at 410-866-4500 and ask for the IRA expert.

^ Back to TOP ^