Federal Savings Bank

I banked with FSB for close to 20 years. In fact, they or I should say a Vice President gave me a small business loan to help me start my business – a business I owned for 19 years. However, after the economic meltdown occurred and after major construction contributed to my business closing, they started circling like vultures. The VP who helped me was long gone, and now they had an old grump to specifically deal with the many foreclosures they were experiencing. However, they were not interested in helping their customers, and not only did they not work with these people nor me, but they harassed them and me instead. They foreclosed on me when I was only $ 2k in arrears, but had more than half in equity – didn’t matter. I even had a purchase agreement from a buyer, but they proceeded anyway. I wouldn’t say that was working with their long term customers especially when I had a good credit history with them. No offer to do any of the things they were supposed to do for people in my predicament. If I could give a minus score, I would. Don’t be fooled with their small, helpful bank claims, because if you get into the smallest bit of trouble, they’ll be looking the other way!

I’ve been a client of Federal Savings for more than 15 years. There was a time when they worked well with folks on a personal basis. They are small and often hold their own mortgages. (nice, but you pay a prime for that, sometimes more than a point of interest higher than other banks would charge). Over the years they have evolved into an ultra conservative group, rigid and non personal. They cling to their in-​house guidelines, as if they have no flexibility. It’s sad when the huge banks are more accommodating than this little ‘community’ bank. Save yourself some serious frustration and go elsewhere.