Welcome

Welcome

Welcome to F&M Bank!

At F&M, we’re committed to helping you reach your financial goals. From Checking and Savings accounts to Home Loans, Commercial & Agricultural services and more, we can help guide you and provide a financial solution unique to your banking needs.

Frequently Asked Questions

  • How will I benefit when Peoples Federal Savings and Loan Association becomes part of F&M Bank?
  • Peoples Federal Savings and Loan Association and F&M Bank are both community-based banks and are alike in many ways. F&M will continue its tradition of local, personal service. Plus, now we can do more for you than ever before. Please read through this account information guide for details about services that will soon be available to you.

  • Will a returned deposited item be represented?
  • No, the item will be returned to the depositor.

  • When will my Peoples Federal Savings and Loan Association accounts convert to F&M accounts?
  • Your accounts automatically convert to F&M accounts at the beginning of business Monday, December 5, 2022.

  • Where can I conduct my banking?
  • For now, please continue to bank at your local office. Beginning December 5, 2022, you’ll also have access to full-service banking throughout the F&M market, including 33 office locations and 52 ATMs across Champaign, Defiance, Fulton, Hancock, Henry, Lucas, Shelby, Williams and Wood counties in Ohio and Adams, Allen, DeKalb, Jay, Steuben and Wells counties in Indiana. Starting December 5, 2022 you can also bank by phone 24 hours a day, 7 days a week through EZ Access Line, our telephone banking, by calling 800.451.7843, via online banking services, F&M Online at www.fm.bank, or via F&M Mobile Banking.

  • What about my safe deposit box?
  • You will continue to access your safe deposit box as you have in the past. At F&M, you can set up auto-pay. For pricing, please refer to the Fee Schedule on page 36  in the Account Disclosures Booklet.

  • What about my checking and savings account numbers and checks?
  • We will be slightly modifying your checking account number by dropping the leading zero. This will not stop any direct deposits, automatic withdrawals, or any checks you have written. We will notify anyone debiting or crediting your Peoples account of your account number change which may result in them reaching out to you. You may also reach out to these entities on your own. You can continue to use your Peoples Federal Savings and Loan Association checks until your supply is depleted at which time you will need to order F&M checks with F&M’s routing and transit number.

    We will be slightly modifying your Savings Certificate of Deposit (CD) and IRA account numbers by dropping the leading zero. This change will not affect how your account will function going forward.

  • Will my direct deposit and automatic transfer continue as before?
  • Yes. If you have a direct deposit of Social Security, payroll or other regular payments, your current service will continue without interruption. We will notify anyone debiting or crediting your Peoples account of your account number change which may result with them reaching out to you. You may also reach out to these entities on your own. In addition, if you have automatic transfers between your deposit accounts or automatic deductions of loan payments, these services will continue without interruption. (Please note: if your automatic payment should fall on a non-business day, these transactions will occur on the next business day.)

  • Will stop payment requests I made at Peoples Savings and Loan Association be honored?
  • Yes. If you currently have a stop payment order in effect for any item on your account, it will be honored by F&M.

  • Is overdraft protection available at F&M?
  • Yes. If you protected your checking account through transfers from savings, checking, home equity, line of credit or business line of credit, this service will continue. Established amounts will be transferred for a fee of $5.00 per month
    and will be assessed to accounts on or after June 5, 2023.

    In addition, checking account holders of Peoples Federal Savings and Loan Association will enjoy the benefits of our Courtesy Pay program. Courtesy Pay is a discretionary overdraft service for eligible checking accounts, in which F&M strives to pay checks and auto draft items when funds are not available in your account. 

  • Will my Christmas Club continue?
  • Yes. Your Christmas Club account will continue and mature on October 6, 2023. At annual maturity, Christmas Club funds will be automatically deposited to an account specified for direct deposit of these funds.

  • When will I receive statements for my checking and savings accounts?
  • In the future, your checking statement will arrive around the same time of the month as before. You will receive your savings statement quarterly on January 15, April 15, July 15 and October 15, or monthly if you had electronic activity during the month.

  • Are combined statements available at F&M?
  • Yes. If you currently have a combined statement, it will continue. If you would like to request a combined account statement, please visit your local office or call us at 800.451.7843. A checking account is required for a combined statement. You may add your savings, which will be reported in detail, as well as your CDs, IRAs and loans which will be reported in the summary section.

  • After conversion, will my monthly checking statement change?
  • No. Your current statement preferences will continue. Customers who are currently receiving check images with their statements will automatically continue receiving this service. Images of all your cancelled checks may be printed in an easy-to-read format and be included in your monthly statement. Your check images may serve as proof of payment and receipt of your transactions. Check images are also available at no charge through F&M Online Banking. 

    A final statement will be created at the end of the day December 2, 2022. This statement will be mailed to all customers including those who have enrolled in eStatements. It may take 2-3 weeks for you to receive your statement.

  • Will there be a fee if I choose to receive check images with my monthly paper statement?
  • There will be a $5 monthly fee for check images unless you choose to enroll in eStatements. This fee will be waived until June 5, 2023.

  • I have accounts at both Peoples Federal Savings and Loan Association and F&M. Will my deposit accounts continue to be FDIC-insured?
  • Yes. Please be assured that your deposits will continue to be FDIC-insured up to the maximum allowed by law. If you currently have deposits at both banks and these deposits total more than the FDIC insured limits because of this change, your deposits at each office will continue to be insured separately for a period of six months after the transition. Your Certificates of Deposits will continue to be separately insured until the earliest maturity date after the end of the six-month period. After the transition period, your funds at the combined banks will be added together for the purpose of determining the amount of your FDIC coverage. If you have more than $250,000 in combined deposits, we will be pleased to discuss different ways that your accounts may be insured at F&M. If you would like information about coverage, please visit your local office to request a copy of our brochure about FDIC insurance.

  • Will I receive a new savings passbook?
  • Loan and savings passbooks will no longer be offered. Transaction Registers will be provided upon request. Savings Statements or monthly billing statements will be provided. You may access your statements and account history online once you enroll.

  • How will my checking and savings accounts change?
  • Your account may have a new name and may have some new features. This table lists the previous Peoples Federal Savings and Loan Association checking and savings account types on the left and the new F&M checking and savings account types on the right.

    Additional account options are available. Please inquire at your local office or call Farmers & Merchants State Bank at 800.451.7843.

Key Dates to Remember

Transition Weekend

Friday, December 2 5:30p.m.
Banking offices close for the weekend, ATMs available 24/7 

Saturday & Sunday
December 3-4

  • All Peoples offices closed
  • ATMs available 24/7
  • F&M Debit Cards can be activated

Monday, December 5

  • Online Banking and Bill Pay resume on fm.bank
  • F&M Mobile App available for download
  • Begin using your new F&M Debit Cards after 8:00am

 

WE’RE HERE TO HELP!

Our call center will have extended support hours during the conversion period (from December 5th-10th) to aid in the transition to F&M. You may call your local Peoples office or F&M at 800.451.7843, Monday – Friday 8:00am – 6:30pm and Saturday from 8:00am – 3:00pm.

Questions?

Prior to December 5
Contact your local Peoples Federal Savings and Loan Association office

On or after December 5
Contact your local office or call Farmers & Merchants State Bank at 800.451.7843.