Savings and Investment Accounts

Thinking about saving? You’ve come to the right place. No matter whether you’re a recent graduate or are hoping to retire within a couple of years, now is the time to invest, because the sooner you start saving, the more time your money has to grow.

FDIC Insurance

If you currently have deposits at both Monroe Bank & Trust and First Merchants Bank, separate FDIC coverage will apply for six months after the legal merger date (into January) to allow you time to restructure your accounts, if necessary. Please be advised that First Merchants Bank also operates under the trade names First Merchants Private Wealth Advisors.

  • If you own a Certificate of Deposit (CD) that matures and automatically renews for the same amount and term by March 1, 2020, separate FDIC coverage will continue in place for the new term.
  • If you own a CD that matures and automatically renews with a different amount or term, separate coverage is provided only until March 1, 2020.
  • If you own a CD that matures after March 1, 2020, separate FDIC coverage will terminate upon maturity of the CD.
  • If you have questions about your deposit insurance, please speak with your local banker or call the FDIC directly at 1.877.ASK.FDIC.

Health Savings Accounts

First Merchants Bank is your new Health Savings Account custodian. You will be pleased to know that your Health Savings Account will continue to work as it does today, with only one exception; you will no longer be able to withdraw cash from an ATM with your Health Savings Account card.

New First Merchants Health Savings Account cards were mailed the week of October 21. If you did not receive your card, please contact Customer Service at 1.800.321.0032.

Beginning Monday, November 11 your Monroe Bank & Trust card will be deactivated and you will need to activate and begin using your new First Merchants Health Savings Account Card. Activation instructions will be included with your card. First Merchants Bank Health Savings Account cards will have a transaction limit of $3,005 per 24-hour period for point of sale purchase.

Learn more about Health Savings Accounts.

CDs & IRAs

Your current CD and IRA rates and terms will not change through maturity. First Merchants Bank is your new IRA custodian. If you have an automatically renewing account, you will receive a pre-renewal notice prior to the maturity date. If you currently receive a CD statement or interest payment notice, you will no longer receive these. If you wish to receive a statement for your CD, you can combine your CD statement with your Checking or Savings account statement by calling customer service or visiting a banking center.

Personal Loans

For all stages of life, we have loans that can be uniquely tailored to meet your needs. And, more importantly, all of our loans come with a banker who wants to be a partner in helping you achieve financial freedom along your unique pathway of life.

Making Loan Payments

Maintaining regular loan payments is an important factor in your credit score. Beginning Monday, November 11, you will have several options available for making payments quickly and easily via:

  • Mail: P.O. Box 7011
    Muncie, IN 47308-7011
  • Automatic payment from another First Merchants account
  • In person at any First Merchants Bank location
  • Online Banking transfer from another First Merchants account

If you are a mortgage customer, we will send you a courtesy reminder notice if your payment is not received within 10 days of your due date.

IMPORTANT NOTES: If you have not received a statement prior to your regularly scheduled loan payment date, please make your payment by your due date to avoid late fees. Loan payments made on a Saturday will post on the following Monday.

Payment Amount

Your payment amount will not change unless you have a variable interest rate and the price index changes, or if you have taxes and insurance in escrow and the annual amount increases or decreases. If there are any changes to your account, you will be notified.

Loan Term

Your Monroe Bank & Trust loan will continue to adhere to the terms of your original loan agreement.


You can continue using your existing supply of HELOC checks. If you need additional supply, please contact us at 1.800.321.0032 or visit a banking center. Additionally, you will be receiving a debit card to use for your HELOC account.