March 14, 2023
To our valued Institution for Savings customers:
With unsettling financial headlines dominating the news recently, I want to assure you that the Institution for Savings is stable, secure, and well positioned to continue providing you with the best banking products and services as we have for more than 200 years.
Our prudent loan underwriting and responsible business model are considerably different than those of the institutions in the news. We are one of the oldest and most stable mutual banks in the country and our commitment to you, our depositors, has never wavered.
The safety and security of your money is our top priority. At the Institution for Savings your funds are insured up to $250,000 by the Federal Deposit Insurance Corporation (FDIC). No depositor has ever lost a penny of insured deposits since the FDIC was created in 1933. Additionally, funds that exceed FDIC limits are insured by the Depositors Insurance Fund (DIF).
The Institution for Savings is well-capitalized and dedicated to our customers and our community. We remain true to our vision to positively affect the lives of every person, business and organization within the communities we serve. As always, please reach out to us if you have any questions or concerns.
Thank you for being part of the Institution for Savings family. We look forward to serving your banking needs today and well into the future.
Michael J. Jones
President and CEO