Hatboro Federal Savings

What real community banking is all about.
By Walter Carlyle

We’ve been reading and hearing about big banks and their financial troubles for more than a year now. Many of those megabanks required huge bailout dollars and government guarantees.

On the other hand, community banks—the vast majority of which did not require any taxpayer bailout dollars—showed that even in this economy they can be both profitable and have a positive impact on their local communities.

“One of the biggest trends in banking today is the attraction of community banks like Hatboro Federal,” said Joseph J. Tryon, president. “And that’s precisely why more people are moving their money from those bank conglomerates to community banks. And, keep in mind, FDIC insurance is the same at all banks with accounts insured up to $250,000 until December 31, 2013.

And if you think perhaps a smaller bank like Hatboro Federal can’t compete with the big banks when it comes to products and services, think again. Hatboro Federal offers plenty of great products and services like Free Priority Checking, Free Online Banking, Free Online BillPay, Free Bank by Phone and Free deposit and withdrawal transactions at more than 37,000 surcharge-free AllPoint ATMs in all 50 states.

Hatboro Federal recently introduced a product they call Advantage Checking. It’s a checking account that actually pays customers 2% APY interest for the money in their checking account. It only takes a $1000 deposit to open an account and $1000 minimum balance to earn interest.

And while many banks in Bucks and Montgomery County struggled with profitability last year, Hatboro Federal had record earnings, including over $61 million dollars in excess capital—almost three times what the federal government requires. The bank consistently ranks in the top 10% of all financial institutions in the country for strength and stability.

Hatboro Federal was founded in 1941 and it’s a true community bank doing business only in the communities they serve—Hatboro, Warminster, Warrington and Jamison. That means, unlike big corporate banks with branch offices in our area, all the money people deposit with them and the loans they make stay solely in the neighborhoods where their customers live and work. So, all the money they take out of the communities they serve, they also give back to customers in those very same communities.

And, even though the bank’s assets exceeded $563 million dollars in last year, smaller than some of those big banks, Hatboro Federal generously funds and actively sponsors dozens of local organizations. In the past few years, the bank has contributed hundreds of thousands of dollars to local institutions like the Hatboro-Horsham Educational Foundation, Upper Moreland Free Library, First Friday Hatboro, Greater Hatboro Chamber of Commerce, Main Street Hatboro and the Mercer Museum.

“At Hatboro Federal, we’re very proud of our innovative products, great customer service and all of the new technology that makes banking here safe and convenient,” said Joe Tryon. “We’re also proud of the unwavering loyalty of our customers.”

But then, with everything that’s going on at Hatboro Federal these days, it’s easy to understand the loyalty. And Hatboro Federal’s success.

You can learn more about Hatboro Federal simply by visiting their website at www.hatborofed.com.