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In The Spotlight
September 2010 - Schuyler Savings Bank has shirts for walkers
The Schuyler Savings Bank of Kearny is offering free T-shirts to participants in the Pathways to Independence, Inc. Walk-A-Thon on Saturday, Oct. 2.
For more information, please click here.
January 2010 - Schuyler Savings Bank earns BauerFinancial 5-star rating for 68th Consecutive Quarter
In these uncertain economic times, it is important to know that there are financial institutions that are strong, safe and secure. Schuyler Savings Bank is such an institution. Schuyler Savings Bank is proud to have been awarded a 5-star Superior rating by BauerFinancial, Inc. for the past 68 consecutive quarters which is the length of time that the company has been rating banks. The 5 star rating, BauerFinacial’s highest attainable rating, is based on the overall financial profile of the institution.
BauerFinancial, Inc. is an independent rating service that analyzes and reports on the financial condition of the nation’s banking industry. BauerFinancial has earned the reputation of “the nation’s bank rating service,” and the company’s ratings are published weekly in hundreds of newspapers. Government regulators routinely refer thousands of consumers to BauerFinancial each year.
For more information about BauerFinancial ratings, please click here.
Kearny - May 28, 2009 - Schuyler Savings Bank Redefines Hometown Banking
While time runs out for one financial giant after another as high-risk business models collapse, the stately clock standing in front of Schuyler Savings Bank in Kearny ticks with a cadence of time-tested principles: a conservative philosophy, prudent fiscal management, a focus on customers and service to the community.
The bank has undergone a complete renovation, inside and out, reflecting its roots in tradition and its forward-looking management. Even the bank’s logo has undergone a change: The clock on the logo matches the clock outside and symbolizes the bank’s time-tested values. In the more than 80 years that Schuyler Savings Bank has existed, it has taken the time to get to know generations of customers and help grow the community through protected deposits, home loans and charitable support, while also keeping pace with current technologies and services.
This formula has seen the community bank through depression, recession, war and worry since its founding in 1924. It has also enabled Schuyler Savings Bank to receive the prized Bauer Financial Five-Star Rating of Superior — its top award based on a broad array of financial criteria — for 15 consecutive years.
The key to Schuyler Savings Bank’s success and strength throughout eight-plus decades has been relationships, according to George Halski, the bank’s president and chief executive officer. Schuyler’s management takes pride in the relationships the bank has forged over the years.
Schuyler Savings Bank was founded in 1924 to serve the Lithuanian community in Kearny. Over the years, the bank has evolved with the community, so that customers of all ages and cultures feel welcome, whether chatting with a teller in Spanish, Portuguese or Polish — or “speaking” online as they do their banking at any hour. The bank’s many second- and third-generation customers, some of whom have been visiting Schuyler Savings since childhood, are fiercely loyal. Even though many have moved out of Kearny, they maintain their accounts with the bank.
Focusing on Customers
While giving credit for the bank’s steady performance and its quality customer service to his staff and board of directors, Halski himself perhaps best reflects the personality of Schuyler Savings Bank. He can be seen each day at Schuyler Savings, often greeting customers in the lobby and making them feel at home.
Halski has more than 35 years in the financial arena as well as master of business administration degrees in both banking and accounting. He is a member of the board of governors at the New Jersey Bankers Association, a trade association representing 118 community banks.
Jim Cummings, vice president and board member, for example, works hard to find ways to support customers who have lost jobs through no fault of their own or have otherwise fallen on hard times.
In addition, recognizing that the 21st-century needs of today’s bank customer are different than those of past generations, Schuyler’s board of directors has moved to ensure that the bank offers the same 24/7 banking services as larger banks, including debit cards, telephone and online banking, as well as a new, state-of-the-art ATM machine that permits cash and check deposits and withdrawals.
Serving the community
Halski and Schuyler’s board have long believed that the bank’s mission calls for outreach and support that goes beyond its customer base to the entire community.
Schuyler’s investment in Kearny has included a $10,000 donation to the city’s fire department for helmets that permit firefighters to find victims quickly in a smoke-filled building; the purchase of trees, street benches and refuse cans for local streets near the bank and Riverbank Park; long-standing support of local organizations such as Pathways to Independence, local churches and, most notably, The Salvation Army of Greater Kearny. In addition to the bank’s financial contributions to that organization, Schuyler’s employees and their families serve as bell-ringers for the Army every Christmas season.
Schuyler Savings’ management and board members are active in the community. The bank’s board chairman, Robert Mooney, is the former superintendent of the Kearny School District and sits on the board of Pathways to Independence. Mooney, as well as two members of the bank’s management and board member Laurence Mach, serve on the Salvation Army’s advisory board. Board member Bruce Kauffmann is the retired chief inspector for the Kearny Fire Department; and George Moroses serves as a trustee on Our Lady of Sorrow’s parish council. Halski, Mach and Mooney also are members of the Optimist Club of Kearny. Cummings, a decorated combat veteran, is active in veteran’s affairs.
Schuyler Savings Bank plans to hold a grand reopening in the near future to celebrate the renovation and update of its building and lobby, located at 24 Davis Ave. The bank’s future offers significant upside, both for the bank and the community, according to Mooney, who said the board is focusing on responsible financing, greater promotion of services, customer education and continuing service to the community.
Kearny - May 15, 2009 - Salvation Army of Greater Kearny honors Robert Mooney at Annual Dinner
The Salvation Army of Greater Kearny honored Robert Mooney with its coveted Others Award for his years of extraordinary contributions to the community at the organization’s Fifth Annual Community Dinner and Ceremony, held May 14 at San Carlo in Lyndhurst.
Mooney, former superintendent of the Kearny School District, was praised for his many years of commitment and contributions to community organizations and causes in the Kearny area. In addition to serving on the board of advisors of the Salvation Army, Mooney also sits on the board of the Pathways to Independence, which supports adults with disabilities, and has been integrally involved in many other community efforts.
“When you review the list of organizations to which Bob has committed his time and the accomplishments he has achieved, it is remarkable he has been able to fit it all in,” said Mach in presenting the award to Mooney. “We all owe him a great debt of gratitude.”
Others honored at the dinner were the emergency medical services of Harrison, Kearny, Lyndhurst and North Arlington, and the ShopRite of Kearny.
Schuyler Savings Bank also was recognized for the bank’s long-standing support of the Salvation Army, including a contribution of $6,300 toward the fundraiser dinner.
|FDIC Deposit Insurance Coverage Limits
by account ownership category
owned by one person
|$250,000 per owner|
owned by two or more persons
|$250,000 per co-owner|
|Certain Retirement Accounts
|$250,000 per owner|
|Revocable Trust Accounts||$250,000 per owner per beneficiary up to 5 beneficiaries (more coverage available with 6 or more beneficiaries subject to specific conditions and requirements)|
|Corporation, Partnership and Unincorporated Association Accounts||$250,000 per corporation, partnership and unincorporated association|
|Irrevocable Trust Accounts||$250,000 for the non-contingent, ascertainable interest of each beneficiary|
|Employee Benefit Plan Accounts||$250,000 for the non-contingent, ascertainable interest of each plan participant|
|Government Accounts||$250,000 per official custodian (more coverage available subject to specific conditions)|
For more information about FDIC insurance
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Use the FDIC’s online Electronic Deposit Insurance Estimator at: www.fdic.gov/edie
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Federal Deposit Insurance Corporation
Attn: Deposit Insurance Outreach
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Washington, DC 20429