First Merit Bank Rates & Review

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First Merit Bank review

Headquartered in Akron, Ohio, First Merit Bank has more than 206 branches and $14.5 billion in assets in 2010. The bank opened in Medina, Ohio in 1845 and expanded with the acquisition of other community banks in Ohio, western Pennsylvania and the Chicago, Illinois, area.

The focus of First Merit Bank is on community banking, with local management and a local Board of Directors. First Merit Bank is a Better Business Bureau accredited business with an A+ rating.

Financial services

First Merit Bank offers a full range of financial services including financial advisers who can help customers with savings, investments and retirement strategies. The bank offers commercial banking, personal banking, mortgages, auto and personal loans, and MasterCard credit cards. Lines of credit are limited to residents of the bank's service areas.

Customers can take advantage of the online banking system of First Merit Bank to open accounts, check balances, track retirement savings, transfer funds and pay bills.

Account choices

First Merit Bank offers multiple savings products including a high yield savings account called "Reality Savings", available with no minimum balance and no monthly charges for customers with a checking account at the bank.

Additional products offered by First Merit Bank include a money market account, a health savings account and a certificate of deposit (CD) at various rates and terms.

All First Merit Bank deposit accounts are FDIC insured to the maximum limit of $250,000 per depositor. Joint accounts are covered to $250,000 per account holder.

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