Employee Benefits Center

A premium banking program for your employees...MTSB@Work.

Members Only Banking Benefits

If you are looking for new ways to attract and retain employees, Mercantile offers members only banking solutions exclusively for employees of our premier corporate clients. Mercantile offers exclusive premium benefits for you and your top executives. Including free e-Bill Pay, discount on new car loans, discount on mortgage closing costs, bonus CD rates, free financial review session, no fee systematic savings and investment plans, and a no fee personal financial management system. Stellar Service is available for you and your top management team.

Customized Employee Benefit Website

For our direct deposit customers, we also provide a customized website for your employees with access to exclusive banking benefits, personal financial management tools, and information about your direct deposit, HSA, health insurance, retirement and benefit plans.

On-Location Presentation and Promotion

Our Customer Contact Representatives will open accounts at your place of business and we will work with you to plan a Direct Deposit Promotion for your employees including supplying giveaways and prizes. We will also present on-location educational presentations to your staff or group regarding personal financial management and other money and banking topics and supply educational materials for your staff and organization.

Health Savings Accounts

Health Savings Accounts are a new option for health insurance and are designed to help individuals save for qualified medical and retirement health expenses (as defined by the IRS) as well as for businesses to be able to provide affordable health insurance plans with income tax benefits. The HSA consists of two parts: (1) a qualified, high-deductible health insurance policy (HDHP) that covers substantial medical expenses, and (2) a savings or investment account from which one can withdraw money tax-free for qualified medical expenses. Any adult who is covered by a qualified high-deductible health plan (HDHP), and is not covered by any other plan, including Medicare, may establish an HSA.

HSAs are portable, the account can travel with an employee from job to job, and funds can accumulate without the annual use-it-or-lose-it requirement of a Flexible Spending Account, enabling contributions and earnings to accrue tax-free, just like an Individual Retirement Account (IRA). Funds distributed from the HSA are not taxed if they are used to pay qualified medical expenses. To encourage saving for health expenses after retirement, individuals age 55 and older are allowed to make additional catch-up contributions to their HSAs.

Retirement Plans

Mercantile Financial Services provides personalized investment and retirement planning for individuals and group retirement plans. Did you know for as little as $10.00 per month per employee you can provide a retirement plan? And these plans provide tax benefits for you, your employees and your business (contact your tax advisor). Our Investment Executives can provide a no-obligation Financial Check-Up of your organization's employee benefit program and your personal trust review.

Direct Deposit will save your company money, improve productivity and can be promoted as an employee benefit. Mercantile offers Direct Deposit via e-Cash Management or through web based Automated Clearing House software including forms, guides and software. The electronic transfer of funds from your Payroll Account will allow employees' net pay information to be electronically credited to their designated checking and/or savings account(s) at any bank, savings institution, credit union or brokerage. Files can be submitted as late as 11:00 a.m. one business day prior to the pay date. Data via e-Cash Management can be submitted as late as 2:00 p.m. one business day prior to the pay date.

Payroll Checks

Employees that opt for a paper payroll check can conduct their banking business at over 16 Mercantile Bancorp, Inc. locations throughout West Central Illinois and Northeast Missouri, and can cash their payroll checks for no transaction fees.

Retirement Option Plans and Trust Services
Our Investment Center provides personalized investment and retirement planning for individuals and group retirement plans. Did you know for as little as $10.00 per month per employee you can provide a retirement plan? And, these plans provide tax benefits for you, your employees, and your business*. Our Investment Executives can also offer Asset Allocation, Life Insurance, Self-Directed IRAs, Financial Planning, Portfolio Management, and Qualified Retirement Plans for both you and your employees as well as a no-obligation Financial Check-Up of your organization's employee benefit program and your personal trust review.

*Consult your tax advisor.