Carthage Savings and Loan is a customer-owned mutual association that has been serving the Carthage, New York area for over 100 years. The bank offers a wide range of financial products and services, including checking accounts, savings accounts, CDs, loans, online banking, and mobile banking.
In this article, we will take a closer look at Carthage Savings and Loan, a customer-owned mutual association that has been serving the Carthage, New York area for over 100 years. We will discuss the bank’s history, products and services, benefits of banking with Carthage Savings and Loan, and FAQS.
What is Carthage Savings and Loan?
Carthage Savings and Loan is a bank that is owned by its customers. This means that the profits from the bank go back to the customers in the form of lower interest rates and better service. Carthage Savings and Loan has been serving the Carthage, New York area for over 100 years, and it offers a wide range of financial products and services, including checking accounts, savings accounts, CDs, loans, online banking, and mobile banking.
In simple words, Carthage Savings and Loan is a bank that is owned by the people who use it. This means that the bank is committed to providing its customers with the best possible service, and it is always looking for ways to save its customers money. If you are looking for a local bank that you can trust, then you should consider banking with Carthage Savings and Loan.
History of Carthage Savings and Loan
Carthage Savings and Loan was founded in 1919 by a group of local residents who wanted to create a bank that would serve the needs of the community. The bank has since grown to become one of the largest financial institutions in the area, and it continues to be committed to providing its customers with the best possible service.
The bank was originally located in a small building on Main Street in Carthage, New York. In 1960, the bank moved to a new location on West Main Street. In 1980, the bank opened its second branch in Clayton, New York. In 1990, the bank opened its third branch in Croghan, New York. In 2000, the bank opened its fourth and most recent branch in Watertown, New York.
Carthage Savings and Loan is a customer-owned mutual association, which means that it is owned by its customers. This means that the bank’s profits are returned to the customers in the form of lower interest rates and better service.
Locations of Carthage Savings and Loan
Carthage Savings and Loan has four branches located in Carthage, Clayton, Croghan, and Watertown, New York. The bank also offers online banking and mobile banking, so customers can access their accounts from anywhere.
Carthage Savings and Loan has four branches in New York:
- Main Office – Carthage Branch
- Address: 313 State Street, Carthage, NY 13619
- Phone: (315) 493-3480
- Clayton Branch
- Address: 325 State Street, Clayton, NY 13624
- Phone: (315) 686-4850
- Croghan Branch
- Address: 9756 State Route 812, Croghan, NY 13327
- Phone: (315) 346-2000
- Watertown Branch
- Address: 146 Arsenal Street, Watertown, NY 13601
- Phone: (315) 779-9775
The bank also offers online banking and mobile banking, so customers can access their accounts from anywhere.
Products and Services
Carthage Savings and Loan offers a wide range of financial products and services, including:
- Checking accounts
- Savings accounts
- CDs
- Loans
- Online banking
- Mobile banking
Benefits of Banking with Carthage Savings and Loan
There are many benefits to banking with Carthage Savings and Loan, including:
- Customer-owned mutual association: This means that the bank is owned by its customers, so the profits are returned to the customers in the form of lower interest rates and better service.
- Personal attention from bankers: Carthage Savings and Loan bankers are committed to providing personal attention to their customers. They know their customers by name and are always available to help.
- Competitive rates: Carthage Savings and Loan offers competitive rates on its products and services. This means that you can save money on your banking fees and earn more interest on your savings.
- Wide range of products and services: Carthage Savings and Loan offers a wide range of products and services to meet the needs of its customers. This includes checking accounts, savings accounts, CDs, loans, online banking, and mobile banking.
If you are looking for a local bank that offers personal attention and competitive rates, then you should consider banking with Carthage Savings and Loan. The bank has a long history of serving the community, and it is committed to providing its customers with the best possible service.
Here are some specific examples of how Carthage Savings and Loan can benefit you:
- If you are looking for a checking account with no monthly fee, Carthage Savings and Loan offers a free checking account with no minimum balance requirement.
- If you are looking for a savings account with a high interest rate, Carthage Savings and Loan offers a savings account with an interest rate that is competitive with other banks.
- If you are looking for a loan, Carthage Savings and Loan offers a variety of loans, including personal loans, car loans, and mortgages.
- If you are looking for online banking or mobile banking, Carthage Savings and Loan offers both online and mobile banking services.
Risks of Carthage Savings and Loan
Here are some of the risks of banking with Carthage Savings and Loan:
- The bank is a mutual association, which means that it is owned by its customers. This means that the bank’s profits are returned to the customers in the form of lower interest rates and better service. However, it also means that the bank is not as well-capitalized as a traditional bank, which could make it more vulnerable to financial difficulties.
- The bank is relatively small, which means that it may not have the same resources as a larger bank. This could make it more difficult for the bank to weather a financial crisis.
- The bank is located in a rural area, which could make it more vulnerable to economic downturns.
The risks of banking with Carthage Savings and Loan are relatively low. However, it is important to be aware of these risks before you decide to bank with the institution.
Here are some additional things to keep in mind:
- The bank is FDIC insured, so your deposits are protected up to $250,000.
- The bank has a long history of serving the community, so it is likely to be around for the long term.
- The bank offers competitive rates on its products and services.
If you are looking for a local bank with personal attention and competitive rates, then Carthage Savings and Loan may be a good option for you. However, it is important to weigh the risks and benefits before you make a decision.
Wrapping Up
Carthage Savings and Loan is a great choice for anyone looking for a local bank that offers personal attention and competitive rates. The bank has a long history of serving the community, and it is committed to providing its customers with the best possible service.
Frequently Asked Questions
- What are the hours of operation for Carthage Savings and Loan?
The hours of operation for Carthage Savings and Loan vary by branch. You can find the hours of operation for each branch on the bank’s website.
- What are the minimum balance requirements for Carthage Savings and Loan accounts?
The minimum balance requirements for Carthage Savings and Loan accounts vary by account type. You can find the minimum balance requirements for each account type on the bank’s website.
- What are the fees associated with Carthage Savings and Loan accounts?
The fees associated with Carthage Savings and Loan accounts vary by account type. You can find the fees associated with each account type on the bank’s website.
Thank you for reading about Carthage Savings and Loan. If you have any questions, please do not hesitate to contact us. We look forward to serving you!