In 1909 Prospect Federal Savings Bank was founded. During this 100 year period the bank has witnessed many events. Throughout our illustrious history, we have remained a safe place for saver's to place their funds.
Prospect Federal is a highly-rated, well-capitalized financial institution. You can feel comfortable knowing that your funds are well protected and that we have a commitment to remaining a local, independent financial institution right in your community. This is especially important during a time of economic uncertainty, when other banks have engaged in poor lending practices.
Thank you for visiting our web page. We encourage you to explore the many fine savings, investment and lending products we have to offer.
As "Good Neighbors To Know", you can be assured the local, friendly atmosphere of the bank will suit your banking needs. We hope to transact business with you now and for years to follow.
Steven F. Rosenbaum
NOTICE OF EXPIRATIION OF THE TEMPORARY FULL FDIC INSURANCE COVERAGE FOR NONINTEREST-BEARING ACCOUNTS
Beginning January 1, 2013, funds deposited in a noninterest-bearing transaction account will no longer receive unlimited deposit insurance coverage by the Federal Deposit Insurance Corporation (FDIC). As of January 1, 2013, all of a depositor's accounts at an insured depository institution, including all noninterest-bearing transaction accounts, will be insured by the FDIC up to the standard maximum $250,000 deposit insurance amount for each deposit insurance ownership category. This change also includes Interest on Lawyer Trust Accounts (IOLTAs). For more information, visit http://www.fdic.gov/deposit/deposits/unlimited/expiration.html.
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