Deposit Services

As a small town bank, we take pride in the way we provide service to our customers. At Lowry State Bank, we believe in calling our customers by their first name – you will never be “just a number” at our bank. So stop in and let our operations staff help you with all of your deposit needs.

Our Operations Team (left to right):

Michele joined the Lowry State Bank family in October 2003.  She previously worked as a teller in Alexandria.  Michele is here to help you with all your deposit needs and to assist in the recordkeeping functions of the bank.

June joined the Lowry State Bank family in March 2003.  June is a long time resident of Lowry and is here to help you with all your deposit needs.

Steve joined the Lowry State Bank family in July 1999.  He previously worked for ten years in public accounting where he worked with bank customers in performing audits, taxes and agreed upon procedures.  Steve is in charge of the bank’s technology and compliance functions of the bank and reviewing the overall operations of the bank.

Brenda joined the Lowry State Bank family in November 1979.  She is a long time resident of the area and has been an employee at the Lowry State Bank for over 25 years.  Brenda is here to help you with all your deposit needs and works with our debit card program.

Shanna joined the Lowry State Bank family in December 2002.  She previously worked as a Retail Team Leader in Alexandria.   Shanna is a resident of Lowry.  Shanna is here to help you with all your deposit needs and to oversee the recordkeeping functions of the bank.


CHECKING ACCOUNTS

We offer the following checking accounts for your needs:

Regular Checking

  • Available to all of our customers.
  • Base monthly service charge of $2.50 plus a per item service charge of .20 per debit item.
  • No minimum balance required.

Student Checking

  • Available to full time students only.
  • Monthly per item service charge of .10 per debit item.
  • No minimum balance required.

Senior Checking

  • Available to all customers age 65 and up.
  • No monthly service charge.
  • No minimum balance required.

Preferred Checking

  • Available to all of our customers.
  • Base monthly service charge of $5.00.
  • No minimum balance required.

Preferred Plus Checking

  • Available to all customers age 55 and up.
  • Service charge – $5.00 monthly service charge if the balance in the account goes below $100.00 anytime during the statement cycle; otherwise, no monthly service charge applies.
  • Minimum balance requirement of $100.00 to avoid a monthly service charge.

NOW Checking

  • Available to all customers except for organized entities or entities operated for profit.
  • Service charge – $7.50 monthly service charge if the balance in the account goes below $750.00 anytime during the statement cycle; otherwise, no monthly service charge applies.
  • Minimum balance of $750.00 is required to avoid a monthly service charge.
  • Interest is earned at the current rates in effect based on the average daily balance of the account for the statement cycle.

Please contact any of our employees for a copy of our fee schedule that the Bank maintains.

 

SAVINGS ACCOUNTS

We offer the following savings accounts for your needs:

Regular Passbook Savings Account

  • Available to all of our customers.
  • Minimum balance to open the account is $10.00
  • Interest is variable and calculated using the average daily balance in the account for the quarter. 
  • The interest is compounded quarterly to the account. 
  • Rates are subject to change after the account has been opened. 
  • No minimum average daily balance is required to earn interest.

Money Market Savings Account

  • Available to all of our customers.
  • Minimum balance to open the account is $2,500.00.
  • Interest is variable and calculated using the average daily balance in the account for the statement cycle. 
  • The interest is compounded monthly to the account. 
  • Rates are subject to change after the account has been opened. 
  • The account has a tiered rate structure that will determine the rate of interest that will be earned during the statement cycle. 
  • The average daily balance of the account for the statement cycle is used to determine which tier the account will earn for the statement cycle.

CERTIFICATES OF DEPOSIT

Certificate of deposits provide a safe means for you to meet your savings goals while paying you a higher interest rate than a regular passbook savings account. 

We offer the following terms for our certificates of deposit:  3 months, 6 months, 12 months, 24 months, 36 months and 48 months.  If a special term is requested it must be approved by an officer of the bank first.

All certificates of deposit earn simple interest and are paid quarterly.  The interest can be added to the certificate of deposit, deposited to one of your deposit accounts at our bank or issued by check.  Interest may be withdrawn at anytime but penalties will be applied if you withdraw any of the principal prior to maturity.  We pay competitive rates that may be changed weekly.

INDIVIDUAL RETIREMENT ACCOUNTS

It is never too late to begin planning and saving for your retirement.  Individual retirement accounts are a simple and convenient way to start saving for the future. We can set up a Traditional IRA or a Roth IRA to meet your retirement needs.  You have the choice between our variable rate savings account or our 18 month certificate of deposit account.  Stop in and see us for more details.


OTHER DEPOSIT PRODUCTS OR SERVICES

Other Deposit Products

  • Debit Cards (Check Cards) – MasterCard
  • Credit Cards – MasterCard or Visa
  • Safe Deposit Boxes

 

Other Deposit Services

  • Wire Transfers of Funds
  • U.S. Savings Bonds
  • Direct Deposit
  • Bank by Mail
  • Night Depository
  • Notary Services
  • Bank Money Orders
  • Photo Copies
  • Coin Counting
  • Fax

 

 

 
Copyright 2007 Lowry State Bank
400 Florence Ave PO Box 123 Lowry, MN  56349