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'Village Bank's Goal: <br /> Village Bank is a community bank focused on customer service. Our. <br /> growth is built on our philosophy of building and fostering relationships <br /> with our clients. As with any small business, Our goal continues to be to <br /> excel at providing superior customer service. <br /> <br /> Our philosophy stems tSom our commitment to the communities we' serve. <br /> We pride ourselves on getting to know.our customers; Village Bank :has <br /> operated in Anoka County for.over 13 years, Om.owner, Don K~zCt6n,.and- <br /> his family currently live .in Ramsey as do a number of.our emploYees. :Our <br /> board of directors .all live or work ;in Anoka County and many have <br /> businesses in Ramsey and the surround~g areas. <br /> <br />Scope of Services: <br /> <br />A. FDIC/FSLIC insurance on deposits: <br /> The bank carries FDIC insurance up to $100,000 for each depositor. <br /> <br />Pledged collateral to the city: <br /> We provide collateral for all deposits of the city.of a type and .in the <br />amount as required by Minnesota State law. We will provide you a statement <br />at month end indicating deposit balances along with collateral pledged to the <br />account. Wells Fargo provides a month end report on all securities pledged <br />including market valuation. <br /> <br />Daily "sweep" to money market checking, money m~ket sayings, electronic <br />funds transfer (ACH for payroll), and other accounts as necessary.. <br /> We can offer daily sweeps from the City's checking account to other <br /> accounts at Village Bank, In addition we offer electronic funds transfer <br /> (ACH for payroll). <br /> <br />D. Depository for federal withholding.and FICA rexes. <br /> We accept and process treasury tax and loan deposits on :a daily basi-s. <br /> <br />Wire Transfer Services. <br /> We promptly process domestic wire transfers through the Federal Reserve <br /> Bank and send written confmnations of all wire transfers .within 24 hours, <br /> unless you prefer to make other arrangements such as a phone call. <br /> <br />F. Interest compounded daily 'on money market accounts. <br /> In our proposal, the account will accrue'and compound interest daily. <br /> <br />-5- <br /> <br /> <br />