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Time Federal Savings Bank is a Medford, WI-based company in the Financial Services sector.
The Bank of Elk River Portal
In 1890 when the Quincy Mine opened in Hancock, Michigan, local banking focused only on serving commercial banking customers. Seeing a need to serve everyday people, a group of local businessmen led by Charles Wright, opened Superior Savings Bank on April 1, 1890. Their first location was in the back of a jewelry store. They grew on, and with a capital investment of $150,000, established the Superior Trust Company in 1902. This opened up new investment opportunities for bankers at a time when brokerage houses were getting the bulk of their business in copper stocks. When Calumet & Hecla Mining Company stock hit $1,000 a share, the financial world looked on in awe. As the Quincy Mining Company continued to grow, so did the bank. By 1910, the mining company`s 2,000 employees were looking to build homes, establish savings, and improve their lives. Superior Savings Bank was there to help them do just that – earning them the nickname “The Working Folks` Bank” from area residents. And still they grew with the booming local economy. The bank built a three story, state of the art facility on the lot of their first location, and on December 6, 1941, Superior National Bank and Superior Trust Company officially merged, forming Superior National Bank and Trust. By 1960, the bank constructed its second new building on a lot previously occupied by St. Patrick`s Church. The building was considered the most modern office complex in the Copper Country at that time and featured the area`s first drive-up window. All these years later, that location still serves as the Superior National Bank and Trust headquarters at 235 Quincy Street in Hancock. Determined to expand the bank to other locations, in 1964 bank President Gunnar Miller set his sights on Baraga, Michigan. Regulations at the time required that bank branches be within a 25-mile radius of the headquarters. To his relief, the Baraga site was located 24.596 miles away. The branch opened in 1966 and was highly profitable, breaking even in 14 months. Additional locations soon followed: Hubbell in the mid-70`s, Mohawk, Chassell and Houghton. Bank growth continued into the new millennium, with the acquisition of Commercial National Bank of L`Anse in 2009. Through more than 128 years of growth, one thing has remained the same: Our commitment to serving the needs of our community. Though we have expanded to serve businesses and corporations, the strength and character of the community that got us here remains the backbone of our culture.
We formed Plaza Bank, which opened in December 2005, because we believe banks have grown too large to effectively serve the local business community effectively. Multi-branch bank executives in the East, for example, were making decisions affecting customers three time zones away. Conversely, our founders and seasoned executives at Plaza Bank are connected to our customers. We live in the same communities, eat at the same restaurants, read the same newspapers and drive in the same traffic. At Plaza Bank, we listen to you, the local business owner, to determine your needs and wants. That’s what we are committed to deliver —a new bank that offers a new way of banking for small- and medium-sized companies. We’ve combined the latest in technology with direct, one-to-one relationship banking that embraces the needs of our valued customers. This translates into highly personalized business banking that is smart, modern and respectful of your valuable time.
Jackson Area Federal Credit Union aka JAFCU is a Jackson, MS-based company in the Financial Services sector.