In light of the troubling news about segments of the banking industry, we want to assure you that your accounts are safe and secure. Our condition at Northwest Community Bank – including our Divisions, Litchfield Bancorp and Collinsville Bank – is quite different from what you are hearing about with the large regional banks. In short, as your community bank, we’re healthy, stable and well capitalized.
Safety, Security and Peace of Mind
Safety and Security are top priorities.
The problems in the other regional banks do not reflect our bank’s operations, our financial health or the strength of the community banking industry at large. As we’ve been doing since 1860, we conservatively invest our customers’ deposits in loans based in our communities and in sound, carefully selected investments. We do not engage in speculative and risky investments. With experience and expertise, we have weathered several financial storms in our history, including the crisis in 2008.
Rest assured, we have specific safeguards in place, including:
- A highly liquid balance sheet.
- A diversified customer base and no industry concentrations.
- Virtually non-existent loan delinquencies.
- No involvement in cryptocurrency or speculative lending.
The deposits you have with us remain protected.
The Federal Deposit Insurance Corporation (FDIC) insures deposits and is backed by the United States government. Details about FDIC coverage is available on their website and by watching the following video.
Please know that we take the trust you have placed in us seriously and we appreciate your business. We adhere to our core values of building customer relationships and being accessible to you. If you have any questions, please contact Executive Vice President Paul McLaughlin at 860-393-9150 or your local branch manager.