American Savings Bank

The History of the American Savings Bank
The American Savings Bank was initially known as the the German-American Savings Bank and was established to look into the needs of merchants and fulfill their needs and wishes. The American Savings Bank was unified in the year 1887 in the offices at 220 Ontario Street. Afterwards, as the American Savings Bank started its expansion in the commercial fields, the American Savings Bank maintained most of its archetype business policy and soon came into everybody’s notice for the bank’s huge rate of dividends to its stockholders. The American Savings Bank, changed its name during the World War I by dropping the German from the bank’s original name went through many travel periods like the Great Depression in the 1930s, two World wars and a vast adjustments with its inventory adjustments in its history of just under seventy years. After sustaining these troubled periods the American Savings Bank became a part of the Union Commerce Bank in Huntington in the year 1955. When this major merger took place the bank had its head office in 828 Huron Road.

An Introduction to the American Savings Bank
According to the president of the American Savings Bank the bank always takes care about the service it provides to its customers and the customer satisfaction means a lot to them. The Bank looks to provide all kind of services a bank normally provides in a prompt and professional way. The American Savings Bank has been serving the Ohio market since the year 1892. The American Savings Bank operates its business from Portsmouth and Waverly. The main business of the American Savings Bank is to originate loans which is secured by nearly four family residential real estate situated in the American Savings Bank’s area. The American savings bank also provides loans to places that are some how connected with Scioto and Pike counties in the state of Ohio.

The American Savings Bank not only provides loans and other financial services for real estates but other services which include business investment, commercial loans and loans for consumers. The funds that are used to lend are collected by the American Savings Bank through the deposits that are kept in the bank which are actually insured upto a fixed limit and also from the borrowings that are done from the Cincinnati’s Federal Home Loan Bank. The American Savings Bank is looked after or supervised by the Office of the United States Department of the Treasury. The American Savings Bank is also the member of Cincinnati’s Federal Home Loan Bank.

In the year 1995 the American Savings Bank became a public institution in order to become the only bank in the area which is owned by the public and also to raise a subsequent amount of capital. The capital that was raised by this means was fully used to make the American Savings Bank a full service banking which had a special importance on the responsiveness of the customers of the bank and also on personal attention. The slogan of the bank has been “committed to the communities we serve.”

One can find various types of banking facilities in the American Savings Bank. The bank serves different kind of Deposit Products, Lending Products, Business and Commercial Products and many more.

Some of Deposit Accounts Available in the American Savings Bank
The American Savings Bank offers ample number of choices of Deposit accounts for its customers to select from. The bank takes great care towards various needs that various people can have. These accounts include savings account, checking account, investor money market deposit account, health savings account and certificates of deposits.

Savings Account: Savings accounts of three types are available in the American Savings Bank.

Traditional Passbook Savings Account: It takes only $10 to open an account in the traditional passbook savings account and also to maintain the account. This account does not demand any monthly fees and the interest rate is compounded in every three months.

Statement Savings Account: This account is good for those people who have the plan to receive direct deposit like what happens in social security and also does not need to write checks. It takes only $10 to open an account of this kind. One has to pay a monthly fees of $3 if he does not maintain a balance of $100. The interest rates are calculated at a monthly basis.

Christmas Club: If a person wants to save money for any special occasion or any special tours one can keep money in this Christmas Club account. One can open this account with any amount of money and can even make weekly payments as well. One though has to pay a nominal charge yearly and $10 for early account closeouts or withdrawals that are partial.

American Savings Bank Checking Accounts: One can have different types of checking accounts. One ha to open a checking account with as low as $100. One can have a debit card through this account and he can also withdraw $500 every day at most of 5 withdrawals. Some of the accounts are:

Value Checking: This Value Checking account charges no monthly charges. One can enjoy the unlimited check clearing facilities with this kind of accounts. One can also have the statements coming one’s way from time to time. This account also provides the debit card facility for the account holders. This account facility is also available for students.

Value Plus Checking: This kind of account charges three dollars per month as the service charge and the facility of the imaged checks are made available through the account statements. This also provides the facility of the unlimited check clearings for its account holders. One can also enjoy free bill payment facility and also Internet banking which is also free of cost. This account also provides debit cards to its customers.

American Savings Bank Preferred Checking Account: This account provides interest as long as the account maintains an amount of $500. If the account goes below $500 for a single day, that day would be devoid of the interest rate. The account holder does not have to pay any money as long as the account maintains an amount of more than $1000. If the amount goes below $1000 for even a single day, the account is charged. This account also provides debit card facilities, unlimited check clearings, bill payment through Internet and that too free of cost.

American Savings Bank Preferred Plus Checking Account: This account earns its owner interest on the money in the account as long as the account maintains at least $500. If the money in the account drops under $500 for one say, the day does not earn any interest. The account holder does not pay any service tax by maintaining an amount of $1000, but if the money in the account goes below that any time within the days of contract,it is charged $6 every month.

American Savings Bank Senior Select Checking: This kind of account is available for those who are more then 55 years of age. This account provides facilities like interest for those who maintain an amount of $500 all through. This account does not even charge any monthly charge and in spite of that it provides unlimited check clearings, statements with imaged checks and it also provides debit cards. This also provides checks which are styled as wallets and also bill payment without any cost and Internet banking facilities.

American Savings Bank Organizational Checking: This account earns interest with a balance of $100. IF the account balance drops below that the account fail to earn any interest as long as the money remains below $100. The account does not even demand any monthly charge unless the checks’ imaged copies are returned. A three dollar amount is charged for that.

American Savings Bank Investor Money Market Deposit Account: This account is very profitable for those who are looking for higher rate of interest than the checking account and it would still be more liquid than a CD. It would be an ideal account for those who look to get monthly compounded interest rates, and interest rates depending on the amount of money there in the account. The interest rates are normally a bit on the higher side compared to what one can have in the case of normal savings account. This account also allows the account holder to issue three checks per billing statement. This also allows the account holder to transfer balance from one account to another though it can be done six times per statement cycle. If the account holder keeps at least $2500 through out the year then he can avoid the monthly charge of three dollars.

American Savings Bank Health Savings Account: The Health Savings Account or the HSA is a kind of account that one can can keep money just to save medical expenses for future. One can find certain certain benefits by saving one’s money in the Health Savings Account. These health savings accounts include tax handling which are found favorable. The contributions that are to be made to the health savings account can be done by the employer, the employee himself or by both of them. Most of the health savings account plans are seen as high deductible health plans.

The American Savings Bank has the opportunity to change the rate of interest or the annual percentage yield everyday at their will. The interest rate starts to build as soon as the money is deposited and the money is returned on the day the cycle finishes. If one closes the account before the scheduled date then he or she would be paid an accrued rate of interest. A daily balance system is maintained to calculate the amount of interest one is supposed to get. The account is chargeable and one is bound to pay a three dollar service charge every month.

American Savings Bank Certificates of Deposits: The American Savings Bank offers a countless number of Certificates of Deposits with favorable terms and conditions in order to fulfill the needs of one. One has the opportunity to open a certificate with as low as $500. The interest rates that are available are normally compounded and credited in a semi annual way. The certificates that are less than one year old normally do not receive any compounding. The account gets automatically renewed after it becomes mature except for few certificates like the Jumbo certificates. One has the chance to take out his certificate money without being charged anything as penalty ten days earlier to the date of certificate maturity. If somebody’s term is a year or less than that he or she is scheduled to get an interest rate one will loose a three months interest rate. If it is more than a year then one will loose six moths of interest. One can go through the official website of the American Savings Bank to get hold of the latest rate of interests regarding deposit certificates.

The American Savings Bank Lending Products or Loans: The American Savings Bank has got a great variation of loaning options to fulfill one’s financial wants and wishes. The American savings Bank offers various friendly loan options with various friendly options. The officers in the bank take their time out and listen to the needs, problems and the interest rate one can afford very carefully before letting him know the right tactics and policy that one should own. Every minute detail is cleared to the person who wants to have the loan so that no complications appear at the middle of the contract. One can call the loan officers of the American Savings Bank to get hold of the right kind of loan for oneself.

One can find various types of loan policies in the American Savings Bank. Some of them are:

Mortgage Loans: If someone is looking for a new home or any new real estate or one is looking to refinance an existing house of his, he can find right kind of loan policies to serve his purpose. The American Savings Bank offers long term as well as short term loans at a fixed rate or at an adjustable rate. The American savings Bank does not sale its mortgage policies which enables the bank can make the policy according to the needs of the borrower. The bank only finances local people and properties locally so the whole operation takes place locally which makes the policy more swifter than easy to access.

American Savings Bank Home Equity Loans: This kind of loan policy helps one to use the equity in one’s home to strengthen debt, to pay various college expenses and one can also use to take one’s family for a vacation. The American Savings Bank official website provides the information about the availability of the loan policies and the change if anything occurs in the policies.

America Savings Bank Home Improvement Loans: The American savings Bank is one of the few banks in the state of Ohio that offers home improvement loans that are titled as FHA. This kind of home improvement loan policy that can offer loans upto $25000 with a convenient term and a fixed rate for any kind of property improvement.

Auto Loans: It is very easy for one to finance a car both for old and new ones. The American Savings Bank offers loans for both new and old cars for both buying and renovating purpose with competitive rates, quick rates and also convenient terms.

Personal Loans: The American Savings Bank offers personal loans upto $2500 as unsecured credits. This is mainly offered to the home owners and to those who have maintained a great credit record. The loans are given with a reasonable and convenient payment terms for any kind of purpose. The most important thing to get this kind of personal loan is to keep a good credit record which the bank appreciates by offering this kind of a tax policy.

Business and Commercial ProductsThe American Savings Bank also helps various business and commercial institutions by providing them with different kinds of loan and account policies that one needs for business and commercial purpose. One can contact the loan officers or persons related to banks to have a greater knowledge about the loan policies.

American Savings Bank Business Deposit Accounts
The businessmen who are the clients of the American Savings Bank are offered credit cards, transaction of debit cards. This also helps one to prevent the loss and other electronic means to help get the best service from the bank. The bank offers to provide one with coin and cash and the bank equally works for both large deposits as well as small and sweepingly processing accounts. The American Savings Bank offers two types of business checking accounts and both of them need $100 to open initially. Basic Business Checking: This kind of business account is actually designed for sole proprietorship and also for small businesses. The Basic Business checking account is better for those businessmen who have less than 300 transaction per cycle. One has to pay a $5 monthly fees as the maintenance cost though no money is charged for withdrawals and ACH deposits.

Commercial Checking: The charges for this account are based on the activity of one’s monthly account. One would get an earnings credit by means of maintaining an average balance on one’s account. This earnings are payable for things like maintenance costs, monthly charges, check clearings and various other charges.

Commercial Loans: American Savings Bank can help one who is looking to start a new business or looking to expand one that already exists. The American Savings Account offers a variety of banking products that include financing for commercial real estate, loans to buy business equipments and line of credit operation. The bank also offers credit for personal line to the professional businessmen to help them out during the need of cash flow for short terms. The American Savings Bank is well equipped to handle all kind of commercial needs without looking at whether it is a small one or a big one. The American Savings Bank also helps out by providing different kind of business solutions partnering with various government agencies to the businessmen in need. One can call bank officials to get hold of different business solutions.

The American Savings Bank also offers various other additional facilities like overdraft protection, debit card facilities, automatic teller machines, travelers check and many more.

Overdraft Protection: The American Savings Bank provides protection against needless charges of overdrafts, the risk of checks that are returned by the banks. If any account goes down under zero, the account automatically deposits fund in the account s much as the limit of credit permits to save the person avoiding the humiliation of bounced check.

American Savings Bank Debit Cards: The American Savings Bank debit card looks like a credit card but actually works like a debit card does. It is collaborated with the Visa card and is accepted all around the world. One can also use it as an Automatic Teller Machine card which can be used wherever Visa card is accepted. This also lets the owner to use checks as little as possible.

Direct Teller for the Whole Day: One can have the support of phone helpline throughout the day and can make phone calls whenever in need throughout the day. Through this one can access facilities like balance inquiries, information about the account, one can also check the payment made through debit card or checks. One can also verify credits deposited as well as the funds transferred from one account to another. One can also make direct deposit through the direct teller.

Night Deposit: The American Savings Bank also offers business and personal customers to drop deposits off all day throughout the year. One will have his money cashed on the first working day after the check is dropped in the check box.

Travelers Checks: The American Savings Bank also offers travelers which helps the customers to carry less money with them while on move only to cash it in banks later on. The bank also offers US savings bond and the bank takes care of the bonds one purchases. The American Savings Bank deals with bonds like series I and EE bonds.