Thank you –

to our active duty military service men and women and our veterans.

We are humbled by your willingness to sacrifice and honored to offer you, or you and your family, these special banking services as a small thank you for all you’ve done to protect our freedom.

Active Duty /Veterans Preferred Checking Account

Merchants Bank offers a special checking account option for those who are serving or have served in the military. Checking Account basics include:

  • No minimum balance or monthly service charge
  • Interest paid on the entire account balance (check current rates)
  • Free Online Banking with Bill Pay1 and free Mobile Banking2
  • Free MasterCard Debit Card
  • Fee-free cash at
  • Free Merchants signature duplicate custom checks
  • Fee waived on first year rental of Safe Deposit box 3
  • Free Cashier’s Checks and Money Orders
  • Free notary service
  • Payroll direct deposit required

Savings Account bonuses available:

Credit and Loan account discounts available:

To open an Active Duty/Veterans Preferred Checking Account, visit any Merchants Bank location or apply online.

APPLY NOW


Mortgage or Home Loans

In addition to a Conventional or Traditional Mortgage , Merchants also offers mortgage loans through the Veteran’s Administration (VA) Mortgage Program.

This program provides a government guaranteed mortgage or loan to eligible Veterans and their spouses who meet a number of specific requirements. Your local Merchants Bank Mortgage Lender will be able to help you determine if you qualify or are eligible for any of these programs.

FIND YOUR LENDER VIEW MORTGAGE RATES


Additional Resources:


1 Bill payments after the first 20 bills are 40 cents each.

2 Merchants Mobile Banking is free, however, text or data charges may be imposed by your mobile provider. Check your plan for details. Your carrier may limit access outside the U.S.

3 Rental of smallest size box available or the value of the smallest size box may be discounted from the annual fee of a large size box.

4 $50 minimum deposit required for Basic Savings Account. $1,000 minimum deposit required for Advantage Savings Account. Owner of Active Duty/Veterans Preferred Checking Account must also be named an owner on this account. $10 limit per customer.

5 Owner of Active Duty/Veterans Preferred Checking Account must also be named an owner on this account. $5 limit per child.

6 Owner of Active Duty/Veterans Preferred Checking Account must also be named an owner on this account. $10 limit per customer.

7 Offer available on new purchase residential mortgage loans or residential construction loans only. One coupon offer available per loan. 

8 Subject to credit approval. As of October 31, 2019, the Annual Percentage Rate on a home equity line of credit with an 80% or less loan-to-value and a credit score greater than or equal to 700 was 4.50%. This special offer has fixed-rate pricing as low as 2.9% APR for the first six months, based on relationship reward discounts. Following that six-month period, the rate will become variable, subject to change, based on U.S. Bank, N.A., prime rate plus a margin that is determined based on the loan-to-value in your home and your credit score at the time of application. Current rates vary from 4.50% to 7.25% APR. Maximum possible APR is 18%. Minimum possible APR is 4.00% An origination fee may apply, in addition, you are responsible for certain fees to third parties, such as appraisers, credit reporting firms and government agencies, which are generally from $100–$1,000. Following the first year, there will be an annual fee of $25. Offer available on new home equity lines of $10,000 or more only or on existing lines of credit with an increase of at least $10,000. Consult your tax advisor regarding the deductibility of interest expense. Property insurance will be required. Limited time offer.

9 Subject to credit approval.

10 15.59% Annual Percentage Rate. Following the first year, there will be an annual fee of $30.