After offering a banking proposal to city officials in the city of Evarts at a meeting held on Tuesday, Home Federal Assistant Vice-President Ron Frazier told members of the city council Home Federal would “value” their business.
A discussion was held after Frazier’s proposal and all members agreed to move their accounts from BB&T to Home Federal Bank.
“We would like to thank you for giving us the opportunity to service your banking needs,” said Frazier. “After reviewing your statements for the last two months, and based on the account activity, the account to best fit your banking needs will be our value business account with no minimum balance fee and no monthly service charge.”
Frazier added along with this account there will be no charge for basic Internet banking, e-statements, business debit card, overdraft privilege protection, personal relationship banker, real time banking and FDIC insurance.
“We will revisit your account annually and will notify you if there will be any change based on the volume of your transactions,” said Frazier. “We will also cash your employees checks free of charge, as long as they have proper ID. We can also offer your employees a value checking account with no monthly service fees, with an optional $2 paper statement fee, but electronic statements are available with no charge.”
Several members of the council asked Frazier to make inquiries about putting a Home Federal branch bank in the Clover Fork area. Frazier said he will make that request known to the proper bank officials.
“I think the council has made the right decision on this issue,” said Mayor Eddie Manning. “This will save the city money.”
Councilman Mike Napier said in ending the discussion, “I would hope Home Federal will branch up here to help our employees. They will still have to travel to Harlan to cash their payroll checks, but it will save them money in the long run not having to pay $8 to cash a check such as they have had to do at BB&T.”
Everyone expressed their appreciation to Jim Hill at Commercial Bank, who gave the city a banking proposal at their last meeting. Manning said not having to sign a five-year contract was a “big turning point” for their decision to go with Home Federal.
Reach Nola Sizemore at 606-573-4510 or on Twitter @Nola_hde