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Business Savings Options

We remember that a good bank is a partner with its customers with a mission to help our customers achieve their financial goals.  We appreciate your decision to bank with us and show that appreciation by insuring you get a competitive rate of return on your money.

M&M Bank knows that you have worked hard for your money. We know that you want your bank to help you make it grow. We offer a number of business savings solutions to help you get the most out of your savings.

Earn High Yields While Saving For Future Needs

M&M Bank's FDIC Insured Money Market Accounts can help your money grow offering high yields, low costs, and flexibility.

  • Account provides a liquid investment that pays market rates
  • Limited check writing is allowed
  • Account is FDIC insured if under FDIC maximums
  • No monthly service fee, if the required minimum balance of $1,000 is maintained.*
  • Convenient Monthly Statements
  • 24 hour online banking information access

The Money Market Account is a savings and investment account that pays a variable rate of interest based on the account balance and market conditions.  The higher the balance, the greater the interest income.


Repurchase Agreement Sweep

Repurchase Agreement Sweeps are designed for high balance and high volume commercial checking accounts and allows the owner to receive interest on excess collect CD balances.  Functionally, they involve the sale of securities with the agreement that the securities will be repurchased at a specified rate of interest at a stated time, usually overnight.  U.S. Government or Agency Securities with a market value of at least the amount invested collateralize the Repurchase Agreements.  Interest Rates are targeted to short-term market rates.

How it works:
M&M Bank’s Repurchase Agreement Sweep operates by establishing a target balance for your checking account.  On a daily basis, collected balances above that target are automatically swept into your repurchase agreement investment.  Funds are swept out of the Repurchase Agreement account to maintain the required balance if the account falls below the target.

Earnings are credited to your account daily.

How your company benefits:

  • Fully automated sweeps eliminates missed investment opportunities.
  • Eliminates the time-consuming responsibilities of managing and timing transfers of idle cash between your checking and investment accounts.
  • Excess checking account balances work for you, earning interest, instead of sitting idle in your checking account.

What more should I know?

  • Investments in securities, annuities and insurance are not insured by the FDIC or any federal government agency;
  • Investments may lose value;
  • Investments are not a deposit or other obligation of, or guaranteed by, any bank or affiliate;
  • Investments are subject to investment risks, including possible loss of the principal amount invested.

Ask your business banker for more information.


Certificates of Deposit

M&M Bank’s Certificates of Deposit (CDs) are FDIC-insured and offer a wide range of term options and competitive rates. In addition, M&M Bank is a member of the CDARS network, allowing the bank to multiply exponentially the available FDIC insurance coverage for our Certificate of Deposit customers.

For more information on the Bank’s CDs or CDARs program, click here.

 

* If balance is not maintained, a $10 per month fee is charged.