"Bank Where You're Known"
AUGUST 1, 2016 — As the president of The State Bank Group, I want to welcome the customers of Harvard Savings Bank. As of August 1, 2016, The State Bank Group officially acquired certain assets of Harvard Savings Bank.
This acquisition combines two banks that share a lot of common values when it comes to personalized service, commitment to the customer and community involvement. We have always believed in developing banking relationships to stand the test of time and create positive outcomes for businesses, homeowners, families and individuals.
Combining The State Bank Group with Harvard Savings Bank allows for the collective customers of each bank to benefit from additional products, services, and locations to better meet the needs of our customers and communities. The long-standing histories of both The State Bank Group and Harvard Savings Bank combine to over 100 years of institutional strength and community foundation.
The State Bank Group has six McHenry County locations. Combined with Harvard Savings Bank, there will be nine locations to better serve our customers:
As always, familiar faces and caring professionals will be ready to assist you and answer your questions.
Harvard Savings Bank locations will continue to run their current banking system until approximately the spring of 2017.
In the meantime, all bank customers can conduct transactions at any of the collective banking locations listed above. There will be no need to immediately change account information.
Additionally, Harvard customers can use the ATMs of The State Bank Group and vice-versa and any ATM fees for using either bank’s ATMs will be waived.
Some of the State Bank Group’s products and services will be available immediately to Harvard Savings Bank customers and others will become available once the banks’ systems are fully merged, The State Bank Group looks forward to having Harvard Savings Bank customers enjoy a greater range of benefits:
All deposits are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000. Please refer to our website at thestatebankgroup.com for more information to address more detailed questions about the acquisition and banking transactions. We also encourage you to speak with our banking professionals. Thank you to all our customers and we will be working hard every day to ensure your banking experience is superior and that we deserve your continued business. Watch for details in the future as we make positive and exciting enhancements for you.
Available to Harvard Savings Bank Customers Only. Questions? Please Read New Customer FAQs
|Features||WOW Rewards Checking||Lifetime Checking||Basic Checking||Gold Premier Money Market|
|Opening Deposit Requirement||$100||$700||$200||$5,000|
|Monthly Service Fee||$0||$10||$0||$10|
|Minimum balance to avoid service fee||$0||$700||$0||$5,000|
|Unlimited Check Writing|
|Foreign ATM Surcharge fees returned||up to $10 per month|
|Online Banking & Bill Pay||Free||Free||Free||Free|
|Free Debit Card|
|Overdraft Protection Transfer|
|Free Cashiers Checks/Money Orders|
|Account Requirements||Fifteen (15) signature based debit card transactions and one (1) direct deposit each statement cycle to receive premium interest rate and ATM refunds||Six total withdrawals per statement cycle. A fee of $5 will be assessed for each check in excess of six during the statement cycle. Unlimited over-the-counter withdrawals.|
|Interest Rate and **APY (Annual Percentage Yield) are variable and subject to minimum balance requirements, tiered rates and subject to change at any time. Rate sheets are available upon request. Fees could reduce earnings. Up to $10 refunded in the statement cycle if the requirements are met.|
The best rewards are those that are easy to earn! With WOW Rewards Checking, get paid a higher interest rate by using your debit card and having a direct deposit! Features: No minimum balance requirement, No monthly maintenance charge, Earn APY* on balances up to $15,000 AND receive up to $10 ATM Refunds nationwide when you have 15 signature based debit card transactions and 1 direct deposit each statement cycle. Unlimited check writing, FREE e-Statements, Overdraft Protection, Transfer option, FREE Online Banking & Bill Pay, MasterCard Debit Card, EZ-Bank 24-hour telephone banking. $100 to open. Fees may reduce earnings. See banker for complete account details.
*To receive stated annual percentage yield and up to $10 in ATM Refunds nationwide, you must meet the following qualifications each monthly statement cycle: 1. Make 15 signature-based (non-PIN) point of sale (POS) purchases that post to your account during the monthly statement cycle with your HSB MasterCard Debit Card, 2. Receive a minimum of one direct deposit to your account during the monthly statement cycle. If you do not meet the qualifications during the monthly statement cycle, your account will still function as a basic checking account with an interest rate on all balances and you will not receive ATM refunds for that statement cycle. Fees could reduce earnings. Qualifying transactions must post and clear to the account during the monthly statement cycle.
Ideal for those who want convenience & interest! Tiered interest rates–the more money you have in your account the more interest you will earn! Features: No monthly maintenance charge,* Unlimited check writing,* FREE e-Statements, Overdraft Protection, Transfer option, FREE Online Banking & Bill Pay ,MasterCard Debit Card, No Fee single-signature traveler’s checks, EZ-Bank 24-hour telephone banking, $700 to open. *If your balance falls below $700 within the monthly statement cycle, the account will be assessed a $10.00 charge plus $.25 per check over 10 for that monthly period. Fees could reduce earnings.
|Balance to Maintain APY*||Minimum Deposit to Open**|
|$0.00 to $999.99||$700|
|$1,000.00 to $9,999.99||$700|
|$10,000.00 to $24,999.99||$700|
|$25,000.00 to $74,999.99||$700|
|$75,000 or more||$700|
**If your balance falls below $700 within the monthly statement cycle, the account will be assessed a $10.00 charge, plus $.25 per check over 10 for that monthly period. Fees could reduce earnings.
Convenient and worry-free checking! Features: No minimum balance requirement, No monthly maintenance charge, Unlimited check writing, FREE e-Statements, Overdraft Protection, Transfer option, FREE Online Banking & Bill Pay. MasterCard Debit Card, EZ-Bank 24-hour telephone banking, $200 to open.
Every check order is FREE, FREE Online Banking & Bill Pay, e-Statements, MasterCard Debit Card, EZ-Bank 24-Hour Telephone Banking, Free single party travelers checks, and Free money orders, bank checks and cashiers checks.
|Balance to Maintain APY*||Minimum Deposit for Open**|
|Up to $4,999.99||$5,000|
|$5,000.00 to $24,999.99||$5,000|
|$25,000.00 to $49,999.99||$5,000|
|$50,000.00 to $99,999.99||$5,000|
|$100,000.00 to $174,999.99||$5,000|
|$175,000 or more||$5,000|
*Annual Percentage Yield
***If the balance falls below $5,000 during the monthly cycle an $10.00 service charge will be assessed to your account.
Bill Pay Customer Support Line: 855-723-2228
Harvard Savings Bank
58 N. Ayers St.
Harvard IL, 60033
The information here describes our policy of holding deposited items in a transaction account before funds are made available to you for withdrawal. This is our Funds Availability Policy. In summary, our policy is to make your funds available on the first Business Day after the day of deposit. Please refer to the section DETERMINING THE AVAILABILITY OF YOUR DEPOSIT for the complete policy.
For purposes of this disclosure, the terms "you"/"your" refer to the customer and the terms "our/"we"/"us" refer to HARVARD SAVINGS BANK. Generally, transaction accounts are accounts which would permit an unlimited number of payments by check to third persons, and also an unlimited number of telephonic and preauthorized transfers to third persons or other accounts you may have with us.
The length of the delay varies depending on the type of deposit and is explained below. When we delay your ability to withdraw funds from a deposit, you may not withdraw the funds in cash, and we will not pay checks you have written on your account by using these funds. Even after we have made funds available to you and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit.
When we delay your ability to withdraw funds, the length of the delay is counted in Business Days from the day of your deposit. The term "Business Day" means any day other than a Saturday, Sunday or federally declared legal holiday, and the term "Banking Day" means that part of any Business Day in which we are open to the public for carrying on substantially all of our banking functions.
If you make a deposit before the close of business on a Business Day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit after the close of business or on a day that we are not open, we will consider the deposit made on the next Business Day we are open.
Same Day Availability. Funds from electronic direct deposits to your account will be available on the day we receive the deposit. In addition, funds from deposits of cash (if made in person to an employee of HARVARD SAVINGS BANK*), and wire transfers, will also be available on the day of deposit.
Next Day Availability. Funds from deposits of U.S. Treasury checks (if payable to you and deposited into your account), U.S. Postal Service Money Orders (if payable to you and deposited into your account, and the deposit is made in person to an employee of HARVARD SAVINGS BANK*), Federal Reserve Bank or Federal Home Loan Bank checks (if payable to you and deposited into your account, and the deposit is made in person to an employee of HARVARD SAVINGS BANK*), State or Local Government checks (if payable to you and deposited into your account, and the deposit is made in person to an employee of HARVARD SAVINGS BANK*), Cashier's, Certified, or Teller's checks (if payable to you and deposited into your account, and the deposit is made in person to an employee of HARVARD SAVINGS BANK*), and checks drawn on us are available on the first Business Day after the day of your deposit.
* If you do not make your deposit in person to one of our employees (for example, if you mail the deposit), funds from these deposits will be available no later than the second Business Day after the day of your deposit.
Other Check Deposits. Funds from all other check deposits will be available on the first Business Day after the day of deposit.
If we cash a check for you that is drawn on another financial institution, we may withhold the availability of a corresponding amount of funds that are already in your account. Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it and we decided to delay availability of the deposit.
In some cases, we will not make all of the funds that you deposit by check available to you according to the previously stated availability schedule. Depending on the type of check you deposit, funds may not be available until the second Business Day after the day of your deposit. The first $200.00 of your deposits, however, may be available on the first Business Day after the day of deposit.
If we are not going to make all of the funds from your deposit available to you according to the previously stated availability schedule, we will notify you at the time you make your deposit. We will also tell you when the funds will be available. If your deposit is not made directly to one of our employees, or if we decide to take action after you have left the premises, we will mail you the notice by the day after we receive your deposit. If you will need the funds from a deposit right away, you should ask us when the funds will be available.
Funds you deposit by check may be delayed for a longer period under the following circumstances: (a) if we believe a check you deposit will not be paid; (b) if you deposit checks totally more than $5000 on any one day; (c) if you deposit a check that has been returned unpaid; (d) if you have overdrawn your account repeatedly in the last six months; or (e) if an emergency condition arises that would not enable us to make the funds available to you, such as the failure of computer or communications equipment.
We will notify you if we delay your availability to withdraw funds for any of these reasons, and we will tell you when the funds will be available. They will generally be available no later than the seventh Business Day after the day of your deposit. If you will need the funds from a deposit right away, you should ask us when the funds will be available.
If you are a new customer, the following special rules will apply during the first 30 days your account is open.
Funds from electronic direct deposits to your account will be available on the day we receive the deposit. Funds from deposits of cash, wire transfers, and the first $5,000 of a day's total deposits of cashier's, certified, teller's, traveler's, and federal, state, and local government checks will be available on the first Business Day after the day of deposit if the deposit meets certain conditions. For example, the checks must be payable to you (and you may have to use a special deposit slip). The excess over $5,000 will be available on the ninth Business Day after the day of your deposit. If your deposit of these checks (other than a U.S. Treasury check) is not made in person to one of our employees, the first $5.000 will not be available until the second Business Day after the day of deposit.
Funds from all other check deposits will be available on the seventh Business Day after the day of your deposit.
Checks drawn on financial institutions outside of the U.S. (foreign checks) cannot be processed the same as checks drawn on U.S. financial institutions. Foreign checks are exempt from the policies outlined in this disclosure. Generally, the availability of funds from deposits of foreign checks will be delayed for the time it takes us to collect the funds from the financial institutions upon which they are drawn.
If you make a deposit at an automated teller machine (ATM) that is owned and operated by us before 2:00 pm Central Time on a Business Day that we are open, we will consider the deposit made that day. However, if you make a deposit at an ATM that is owned and operated by us after 2:00 pm Central Time or on a day that we are not open, we will consider the deposit made on the next Business Day we are open.
|Account Type||Minimum Deposit to Open||Interest Compounds|
|Cowabunga Kid’s Club||$10||Daily|
Note: *Interest Rate and **APY (Annual Percentage Yield) are variable and subject to change at any time. Rate sheets are available upon request. Fees could reduce earnings.
Unrestricted access to your account ($1.00 fee per withdrawal over four per month) Statement or Passbook accounts. Minimum Account Balance to open is $10.00. Please contact a personal banker for more information. Note: Fees could reduce earnings.
Worry-free holiday savings throughout the year, receive your account check in early November. Minimum deposit to open account, $10. Interest compounds daily. Note: Fees could reduce earnings.
For children up to age 14, with valid social security number, $10 to open account, Special treasure chest filled with prizes for children to choose from when they deposit money, Kid-friendly newsletter, Birthday card, Fun activities and special events.
Welcome Harvard Savings Customers!
Here are Answers to Questions concerning The State Bank Group Acquisition of Harvard Savings Bank.
A: A Purchase and Assumption Agreement between the two parties was entered into on May 20, 2015 and was ultimately closed on July 31, 2016. This acquisition marks the first of its kind for The State Bank Group since its inception in 1979. The State Bank Group has been a leading bank in McHenry County and has consistently delivered exceptional customer service and we will continue to do so with the same familiar friendly faces that you have come to know and trust. The State Bank Group is a locally owned McHenry County bank. Combined with Harvard Savings Bank, we can proudly say that our banks offer over 100-years of community banking service and experience. Combining our resources brings a continued commitment to community banking and supporting our communities at-large.
A: If you had a deposit account at Harvard Savings Bank Prior to July 31, 2016, you will now be a deposit account of The State Bank Group, a Member FDIC bank. All deposits are FDIC insured under one bank up to $250,000. Prior important notifications regarding specific deposit accounts and loan accounts were sent to all Harvard Savings Bank Customers by regular mail. Rest assured, you will continue to access your Harvard Savings Bank accounts as you have been. The Harvard Savings Bank routing number, account numbers, checks and deposit slips remain the same. We are dedicated to making the transition as seamless as possible and you will experience uninterrupted service for all of your banking needs, including debit cards, ATM, online banking, bill pay, direct deposit (social security, payroll), ACH, safe deposit boxes, overdraft protection, e-statements or statement delivery by mail. When any change is required, a communication will be provided in a timely manner with detailed instructions to our customers.
A: The State Bank Group welcomes you to a new website where your Harvard Savings Bank loan account information, online banking, e-statement and check reorder logins are available to you. Once you navigate to the respective logins for Harvard Savings Bank, you will be able to login to your online banking account, bill pay and retrieve e-statements as you always have. A single website provides The State Bank Group the opportunity to assist you better when it comes to communication about your accounts and any future notifications regarding the transition. If you attempt to go to the Harvard Savings Bank website you will be directed to The State Bank Group website. Look for our welcome message and other helpful information. You can also go directly to www.thestatebankgroup.com and look for the related links for Harvard Savings Bank customers. Again, your online banking and e-statement experience will remain unchanged once you arrive at the new login destination. Save this new link for seamless access moving forward.
A: There are no plans at this time to change the names of any of the locations.
A: Checks that were drawn on your account before the acquisition will be handled as they always have and be honored up to your available balance.
A: No, you will order checks the same way you have in the past.
A: Harvard Savings Bank's rates will be reviewed by The State Bank Group and may be adjusted; however, you will be notified in writing on changes when required by regulation.
A: If you have a loan with Harvard Savings Bank, you should continue to make payments to the bank as you have always done and unless you are instructed otherwise.
A: If you previously used EZ Bank telephone banking, your service will be uninterrupted.
A: Funds can be wired by contacting your closest branch. Simply provide to us the information regarding your wire request and it will be handled with the highest priority.
A: All safe deposit box services remain unchanged and the key you have will still work.
A: Yes. The State Bank Group is making every attempt to provide ATM service at any ATM owned by The State Bank Group, including Harvard Savings Bank ATMs free of charge. If you should experience an ATM fee from an ATM owned by The State Bank Group, please contact us so that we may reverse the fee.
A: Yes. As with any transaction of this type, some changes are unavoidable; however, at The State Bank Group we are committed to hiring and retaining the most qualified individuals to work for the team to ensure we can provide our customers the best banking experience.
A: There are no plans to close branches.
A: Yes, you can use any of the nine banking locations including your favorite Harvard Savings Bank location. See our website for all our banking and ATM locations.
In the spring of 2017, The State Bank Group plans to convert Harvard Savings Bank customers to the accounting system operated by The State Bank Group. Future communication closer to that timeline will be provided about that transition.
A: The hours will remain the same for a period of time but will be subject to review by The State Bank Group. Traditionally, The State Bank Group has operated with the most customer friendly hours. Changes to operating hours will be announced well in advance of making any changes.
A: Please contact your local Harvard Savings Bank branch for details regarding your Harvard Savings accounts and loans.
A: Yes. In the near future, our banks will have one phone number. We will promptly notify our customers in advance when we can expect that enhancement to take place. We expect the transition will be seamless.
A: Yes, in some instances it would require that you open an account offered by The State Bank Group. Certain account offerings have more robust solutions such as mobile banking and mobile deposit. Please contact our customer service department at 815-728-8000 so that we may assist you. In the spring of 2017, a bank systems conversion will provide universal products and services to all our customers.
A: Please feel free to contact the President of The State Bank Group, Stephen Mitchell at 815-728-8000. He will take your call directly, no screening, no secretary, and he will be pleased to answer any of your questions. We also encourage you to ask for any manager of The State Bank Group. We are looking forward to getting to know you.
Choose a passbook style IRA that allows periodic deposits or a certificate of deposit IRA for terms between 18 months and 48 months. No annual or monthly fees, Traditional IRA Roth, IRA Simplified, and Employee Plans (SEP) are available. Please contact a personal banker for more information.
We offer Certificates of Deposit in a broad range of maturities, each designed with a particular goal in mind. And, for as little as $500, you can open a CD. Interest can be added to the certificate, paid by check or deposited to another Harvard Savings Bank account. We pay higher interest rates for balances of $50,000 or more, please call us at 815-943-5261 or 815-943-7000 for details. *Penalty for early withdrawal
Just look at all the Advantage Club benefits: Maintenance fee’s waived, Free Advantage Club checks or 50% off of any other check order. Free money orders, official bank checks and traveler’s checks. Complimentary notary service, Free photocopies, Discounts on the annual fee for one Safe Deposit Box, Bonus rate coupon for a Certificate of Deposit, Informational seminars, Trips & Tours-attend exciting day, weekend and extended trips and tours at substantial savings, Quarterly newsletter, Peace of mind. To qualify you need to maintain a minimum of $25,000 with any combination of Harvard Savings Bank deposit accounts.
A sensible account for small businesses that are looking for simplicity, affordability and automated cash management. Features: No balance requirements, No monthly service fees, 500 FREE Transactions per month, (any combination of deposits or check entries), FREE Online Banking & Bill Pay, e-Statements, Overdraft Protection, Transfer option, FREE MasterCard Check Card, First order of wallet or three-on-a-page checks are FREE, or receive a $100 credit towards any other Business Check order, Merchant card services available, Currency and coin services provided at no charge, EZ-Bank 24-hour telephone banking system. *limitations apply
|Features||Simplified Business Checking||Business Lifetime Checking||Business Gold Premier Money Mkt|
|Opening Deposit Requirement||$100||$700||$5,000|
|Monthly Service Fee||$0||$10||$10|
|Minimum balance to avoid service fee||$0||$700||$5,000|
|Check Printing||First order of wallet or three-on-a-page checks are FREE, or receive a $100 credit towards any other Business Check||FREE first order||FREE check orders, always|
|Unlimited Check Writing|
|Online Banking & Bill Pay||FREE||FREE||FREE|
|Free Debit Card|
|Harvard Savings Bank Visa Credit Card|
|Overdraft Protection Transfer|
|Free Cashiers Checks/Money Orders|
|Additional Account Information||500 FREE Transactions per month (any combination of deposits or check entries). Merchant card services available. Coin and Currency services available at no additional charge.||Merchant card services available. Coin and Currency services available at no additional charge.||Six total withdrawals per statement cycle. A fee of $5 will be assessed for each check in excess of six during the statement cycle. Unlimited over-the-counter withdrawals. Merchant card services available. Coin and Currency services available at no additional charge.|
|1. Tiered rates 2. Up to $10 refunded in the statement cycle if the requirements are met. Merchant card services available. Currency and coin services available at no charge.|
A sensible account for small businesses that are looking for simplicity, affordability and automated cash management.