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Farmers and Merchants Trust Company of Chambersburg Review

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
Farmers and Merchants Trust Company of Chambersburg Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Started in 1906, Farmers and Merchants Trust Company of Chambersburg Bank has $1 billion in assets and deposits totaling $1 billion, which makes the institution a medium-size bank. Farmers and Merchants Trust Company of Chambersburg, whose headquarters are in Chambersburg, Pennsylvania, lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. SmartAsset has rated Farmers and Merchants Trust Company of Chambersburg 4.2 out of 5 stars, which means it is a great choice and should warrant serious consideration. Farmers and Merchants Trust Company of Chambersburg has a varied choice of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, the bank's standard checking account does not have a monthly fee. Finding an institution with free checking, in addition to a high interest rate savings account is the best option for getting the highest income from your deposits while having easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.2/5
National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more

Rates

3.2
SmartAsset Average: 3.5

Farmers and Merchants Trust Company of Chambersburg has a savings rate of 0.15%, which is fair in comparison to other U.S. banks. Its one-year and five-year term lengths CDs earn at a rate of 1.00% and 2.20%, respectively, while its highest-yielding money market account earns at an APY of 0.65%. Given Farmers and Merchants Trust Company of Chambersburg's noncompetitive savings rate, you should consider looking at the competition to open savings accounts.

How Farmers and Merchants Trust Company of Chambersburg's Savings Rates Compare

Farmers and Merchants Trust Company of Chambersburg Savings 0.15 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Farmers and Merchants Trust Company of Chambersburg charges its customers extremely low fees in comparison to other U.S. banks. With no monthly fee, Farmers and Merchants Trust Company of Chambersburg is ideal for those who want a simple banking experience. Farmers and Merchants Trust Company of Chambersburg doesn't refund out-of-network ATM fees, meaning you will need to locate a Farmers and Merchants Trust Company of Chambersburg ATM or accept the fee.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

3.8
SmartAsset Average: 3.7

Farmers and Merchants Trust Company of Chambersburg Bank is a brick-and-mortar bank, with 25 total bank locations in Pennsylvania. With mobile and web apps, Farmers and Merchants Trust Company of Chambersburg makes mobile banking straightforward, even on the go. Farmers and Merchants Trust Company of Chambersburg's online and mobile banking services get fair scores from users. The Farmers and Merchants Trust Company of Chambersburg mobile app has been given a 3.7 out of 5 (with 94 customer reviews on iOS and Android) compared to the national average of 3.8. You can use Farmers and Merchants Trust Company of Chambersburg's mobile app to control your accounts by monitoring account balances, transferring money as well as reaching support representatives. Farmers and Merchants Trust Company of Chambersburg receives a superb consumer satisfaction score due to comparatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 3.7/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.8
SmartAsset Average: 4.8

Farmers and Merchants Trust Company of Chambersburg is a medium-size bank owning $1 billion in assets as well as deposits totaling $1 billion. Its Texas Ratio is 4.18%, denoting that the bank is in outstanding financial health and unlikely to fail. Additionally, Farmers and Merchants Trust Company of Chambersburg is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

4.18%
High Risk 75% 50% 20% 10% Low Risk

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

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Compare Farmers and Merchants Trust Company of Chambersburg to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $1000
Checking Account 0.15% APY $1000
Certificates of Deposit
  • 12 Month: 1.00% APY
  • 24 Month: 1.30% APY
  • 36 Month: 1.70% APY
  • 48 Month: 1.85% APY
  • 60 Month: 2.20% APY
$5000 for all terms
Money Market Accounts 0.55% APY 0.65% APY $10000 $15000

Farmers and Merchants Trust Company of Chambersburg Bank offers several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Farmers and Merchants Trust Company of Chambersburg does not have the best savings rate, which means you should consider taking a look elsewhere for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Farmers and Merchants Trust Company of Chambersburg's CD rates are fair in comparison to the average U.S. bank.

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Find a Farmers and Merchants Trust Company of Chambersburg Near Me

Farmers and Merchants Trust Company of Chambersburg has 25 locations across the U.S.

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