Individual Retirement Account (IRA)

An Individual Retirement Account (IRA) is a savings plan designed to supplement Social Security and pension plan retirement income.  M&M Bank offers both Traditional and Roth IRAs.  The following options are available for your IRA Saving needs:

  • IRA Certificate of Deposits
    • Available for both Traditional and Roth IRA Saving Plans.
    • Terms are available from 1 to 5 years.
    • Minimum to open account is $500.
    • Withdrawals before maturity may incur a penalty.
  • M&M Liquid IRA
    • Available for Tradtional IRA Saving Plans.
    • Minimum to open account is $100.
    • Balances above $99 will earn interest.

IRA account transactions may be subject to IRS limits, taxes, penalties, and withholdings.

Certificates of Deposit

Regular and Jumbo Certificates of Deposit (CD)

  • Certificates of Deposit are generally available from one (1) month to five (5) years.
  • Certificates of Deposit can be issued with automatic renewals.
  • Customers select the maturity which best fits their needs.
  • Interest rate is locked in for the term and there is no maintenance fee.
  • Minimum opening deposit of $1,000. 
  • Withdrawals before maturity may incur a penalty.

Bump & Jump CD

The Bump & Jump CD gives you a 36 month term with an opportunity to increase your rate one time during the life of the CD!

  • Minimum opening deposit of $1,000.
  • No service fee.
  • Customer must request to update or “bump” their interest rate by contacting M&M Bank.

Bump Interest Rate Information: You have the option to increase or “bump” the interest rate and annual percentage yield on the certificate of deposit. The “bump” option can only be exercised once and you may use this option at any time during the term of the certificate of deposit. We will increase or “bump” the interest rate and annual percentage yield to the current published rate for our 36-month term certificate of deposit. You will then earn that higher rate for the remainder of the term of the certificate. The updated or “bumped” interest rate will become effective within three business days after we receive your written request with proper signature authorization. The new interest rate and annual percentage yield will not be applied retroactively. Public funds are not eligible for this offer.

Disclosure: M&M Bank reserves the right to change or withdraw this offer at any time. Rates are subject to change at any time at the discretion of M&M Bank. Minimum balance of $1,000 required to open account and earn APY. A penalty may be imposed for early withdrawal.


Multi-Million Dollar FDIC insurance on CD investments. Ask about a simple way to fully insure large deposits with M&M Bank. It’s simple, easy, and gives you peace of mind knowing your funds are fully protected.

External Link Disclaimer

Merchants & Marine Bank (M&M Bank) has no control over information at any site
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Email Disclaimer

Notice: Because there is a risk that information transmitted via Internet email could fall into the wrong hands, Merchants & Marine Bank suggests that confidential information, such as account numbers or social security numbers, not be transmitted via email. Instead, please contact Merchants & Marine Bank directly at your nearest bank branch.