**Mayville Savings Bank: A Comprehensive Guide to Financial Services for Individuals and Businesses**

Introduction

Founded in 1870, Mayville Savings Bank is a community-focused financial institution with a rich history of serving the financial needs of individuals, families, and businesses in Mayville and the surrounding areas. Committed to providing personalized financial solutions and exceptional customer service, Mayville Savings Bank has emerged as a trusted partner in the community's financial journey.

Personal Banking

Mayville Savings Bank offers an array of personal banking services tailored to meet the unique needs of each individual customer.

Checking Accounts

• Free Checking: No monthly maintenance fees, unlimited check writing, and access to online and mobile banking.
• Interest Checking: Earn interest on your deposited funds, with a minimum balance requirement.

Savings Accounts

• Passbook Savings: A traditional savings account with no monthly maintenance fees and unlimited deposits.
• Statement Savings: A convenient account that provides monthly statements and online access.
• Money Market Accounts: Earn higher interest rates on larger balances, with limited withdrawals per month.

Certificates of Deposit (CDs)

• Regular CDs: Fixed-term deposits with guaranteed interest rates.
• Jumbo CDs: High-yield CDs with longer terms and higher minimum deposit amounts.
• IRA CDs: Tax-advantaged CDs designed for retirement savings.

Loans

• Personal Loans: Unsecured loans for various expenses, such as debt consolidation, home improvements, or vacations.
• Auto Loans: Competitive rates and flexible terms for new or used car purchases.
• Home Equity Loans and Lines of Credit: Access the equity in your home for major expenses or renovations.

Business Banking

Mayville Savings Bank understands the challenges faced by businesses and offers customized banking solutions to support their growth and success.

Checking Accounts

• Business Checking: Designed for everyday business transactions, with low monthly maintenance fees and access to online and mobile banking.
• Interest Checking: Earn interest on your business deposits, with a minimum balance requirement.

Savings Accounts

• Business Passbook Savings: A convenient account for storing business funds with no monthly maintenance fees and unlimited deposits.
• Money Market Accounts: High-yield accounts with limited withdrawals per month.

Loans

• Business Loans: Flexible financing options for business expansion, equipment purchases, or working capital needs.
• Commercial Real Estate Loans: Financing for the purchase or development of commercial properties.
• Equipment Loans: Loans for the acquisition of essential business equipment, such as machinery or vehicles.

Other Business Services

• Merchant Services: Accept credit and debit card payments to streamline business operations.
• Remote Deposit Capture: Deposit checks electronically from your office or home.
• Positive Pay: Reduce fraud by verifying and approving outgoing checks.

Investment Services

For individuals seeking to grow their wealth, Mayville Savings Bank offers a range of investment services through its partnership with Raymond James Financial Services.

• Investment Management: Personalized portfolio management tailored to individual financial goals.
• Financial Planning: Comprehensive advisory services to guide clients through complex financial decisions.
• Retirement Planning: Planning and investment strategies for a secure retirement future.
• Trust and Estate Services: Assistance with estate planning, trust administration, and tax minimization.

Community Involvement

Mayville Savings Bank is deeply committed to supporting the communities it serves. Through various charitable initiatives and sponsorships, the bank actively participates in local events and organizations.

• Community Grants: Provides funding to local nonprofits and community development projects.
• Financial Education: Offers workshops and seminars on financial literacy, budgeting, and investment.
• Employee Volunteering: Encourages employees to volunteer their time and expertise to local organizations.

Benefits of Banking with Mayville Savings Bank

• Local Decision-Making: Decisions are made locally, ensuring a responsive and understanding approach to customer needs.
• Personalized Service: Dedicated relationship managers provide tailored financial solutions and guidance.
• Competitive Rates: Mayville Savings Bank offers competitive rates on deposits and loans, maximizing returns and minimizing costs.
• Strong Financial Foundation: With over 150 years of experience, Mayville Savings Bank has a proven track record of stability and financial strength.
• Community-Minded: The bank actively invests in the community, supporting local organizations and initiatives.

Comparison to Other Banks

Mayville Savings Bank stands out from other banks in several key ways:

Pros and Cons of Banking with Mayville Savings Bank

Pros

• Local decision-making: Quick and responsive service tailored to local needs.
• Personalized service: Dedicated relationship managers provide expert guidance and support.
• Competitive rates: Maximize returns and minimize costs on deposits and loans.
• Strong financial foundation: Over 150 years of stability and proven financial strength.
• Community-minded: Active involvement in supporting local organizations and initiatives.

Cons

• Limited branch network: May not have a physical branch in all areas.
• Higher minimum balance requirements: Some accounts may have higher minimum balance requirements compared to larger banks.
• Fewer investment options: May have a more limited range of investment options compared to larger banks with broader investment divisions.

Frequently Asked Questions (FAQs)

Q: Is Mayville Savings Bank FDIC insured?
A: Yes, Mayville Savings Bank is a member of the Federal Deposit Insurance Corporation (FDIC), ensuring that deposits up to $250,000 are protected by the U.S. government.

Q: How do I open an account with Mayville Savings Bank?
A: You can open an account online, by visiting a local branch, or by calling our customer service team.

Q: What are the interest rates on deposits?
A: Interest rates on deposits vary depending on the type of account and current market conditions. Please visit our website or contact our customer service team for the most up-to-date information.

Q: Can I access my account online or through a mobile app?
A: Yes, Mayville Savings Bank offers online and mobile banking services for convenient access to your accounts.

Q: What types of business loans does Mayville Savings Bank offer?
A: Mayville Savings Bank offers a range of business loans, including term loans, lines of credit, commercial real estate loans, and equipment loans.

Q: How do I apply for an investment account with Mayville Savings Bank?
A: To apply for an investment account, you can contact our investment services team or visit our website.

Q: Is there a fee for using the ATMs at Mayville Savings Bank?
A: There is no fee for using the ATMs at Mayville Savings Bank branches. However, there may be fees for using ATMs that belong to other financial institutions.

Q: What is Mayville Savings Bank's routing number?
A: Mayville Savings Bank's routing number is 026019243.