Spratt Savings & Loans Business Banking

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Business Banking

At Spratt Savings and Loan, we make two promises to our business customers: We will be responsive and responsible.

By responsive we mean that the first order of business is to learn as much about your company as possible. There is a clear correlation between the quality of service provided and the level of understanding of a business and its banking needs. Responsive also means that a prompt answer is provided to your request.

Responsible bankers consistently make decisions that are appropriate for your company. For example, we believe that credit is a means of solving financial problems, not creating or adding to them. It further suggests that the right structure is put into place to optimize the credit solution.

We are committed to superior quality service and doing the right thing!


NOTICE OF CUSTOMER IDENTIFICATION PROGRAM

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.  What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.

Lost or Stolen Card

Should you discover that your Spratt Savings & Loan Debit Card has been lost or stolen, please call the following number immediately:

1-800-523-4175

» NOTICE: The Federal Regulation that limits the number of third party transactions allowed per month on our Money Market Demand Account (MMDA) and our Preferred Investment Account has changed. Third party transactions are defined as those you do not conduct at the bank or at an ATM. Third party transactions include checks, electronic debits, drafts, debit card purchases, phone transfers to other accounts and online and phone banking transfers to other accounts. The regulation limited these to six, of which no more than three could be by check. The limit is still six, but now, all can be by check.

Notice of Changes in Temporary FDIC Insurance Coverage for Transaction Accounts All funds in a "noninterest-bearing transaction account" are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC's general deposit insurance rules. The term "noninterest-bearing transaction account" includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It also includes Interest on Lawyers Trust Accounts ("IOLTAs). It does not include other accounts, such as traditional checking, or demand deposit accounts that may earn interest, NOW accounts, and money-market deposit accounts. For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov

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