PEOPLES FIRST SAVINGS BANK Q&A
Why does Peoples First deserve their customers' trust?
We are over 100 years strong! This heritage, as well as our strength, security and stability, was built upon a philosophy of putting our customers’ interests first.
What is unique about Peoples First?
We are a “mutual” company, which means that each depositor has a stake and ownership in our bank. Each customer is a member of our family. We are a hometown bank, not a conglomerate or multinational corporation. This is our home, and our customers — our neighbors — are a part of the Peoples First family.
Why should local ownership and management of a bank matter?
Peoples First provides lending and saving services to our neighbors and friends, and it is your neighbors and friends who save, lend and manage our bank. As a result, we have a bigger stake in the success of our customers than some of our competitors. Local ownership and management also gives us more autonomy in decisions that affect our customers. For example, when lending, Peoples First understands that life events are an important consideration along with credit scores. We do everything we can to help our customers live the ‘American dream’ responsibly and with expert guidance.
Is the bank a member of the FDIC? Why is that important?
Yes, we are! FDIC membership ensures that money held in savings, checking and other deposit accounts are safe. The FDIC insures up to $250,000 per depositor in each bank or thrift. It does not insure securities, mutual funds or similar types of investments that some banks and thrifts offer. For more information, please visit www.fdic.gov.
Are deposits secure?
100% of the products we offer are insured to the legal limits of the FDIC and are backed by the full faith and credit of the United States government. For more information, please visit www.fdic.gov.
How can Peoples First’s Customer Care Representatives support my banking needs?
Our Customer Care Representatives have more education, experience and total knowledge of the banking system than you’ll find at other banks. In fact, they are able to solve most questions in a single phone call. What’s even better? We do not use an answering service during business hours. Our Customer Care Representatives take your call promptly, want to answer your questions, want you to be happy and look forward to sharing your successes. They put People First.
Do you offer both commercial and residential banking?
We offer a wide range of both personal and business products. Please see our home page for more information.
MORTGAGE LOAN Q&A
What is a mortgage portfolio and why is it an important consideration when choosing a bank?
Many banks these days buy and sell the servicing of loans like commodities. We don’t. We hold all the papers on our mortgages and work directly with applicants and mortgage holders to support their success. Our customers benefit from the long-term relationships that we work hard to develop and maintain.
Are mortgages safe and secure at Peoples First?
While some in the banking industry have acted irresponsibly, customers should know that Peoples First is NOT among them. In fact, we are rock solid. We have not had a single “foreclosure” due to making unqualified loans as a result of extending credit inappropriately.
How do you qualify potential applicants for mortgage loans?
For the last 100 years, we have worked with our customers to understand their lives and support their futures responsibly. When making lending decisions, Peoples First understands that life events are as important a consideration as credit scores. Life is difficult enough, we do everything we can to help get you on your way in a manner that helps ensure success long-term.
How important are credit scores?
Credit scores are certainly important, but we believe that life events may influence your credit rating. Even though Peoples First Savings Bank is a conventional lender; as a home town bank, we have the flexibility to consider your credit score and your life circumstances.
Where can I find rate information for the savings, checking and loan products offered by Peoples First?
Should I get pre-qualified for a mortgage before I search for a home?
Yes, with our simple pre-qualified process, you know for sure that you are qualified to purchase the home of your dreams.
How do I get pre-qualified?
Call to speak with one of our mortgage professionals. You can set up an appointment to meet in person or provide the information needed over the phone.
What is a Loan Estimate and why is it important?
A Loan Estimate is a detailed breakdown of all fees and closing costs that are included in a loan.
How much cash will I need for closing costs?
Closing costs vary depending on your loan amount and type of loan. Call our mortgage professionals for a quote.
What is included in a mortgage’s closing costs?
Our closing costs include the appraisal, credit and flood reports, document preparation, and recording, origination and title exam fees.
What are third party fees?
Third party fees include costs for the appraisal, credit and flood reports, title exam and recording fees — all are included in our closing costs.
What is a rate lock?
A typical rate lock is 30 – 60 days.
Can I buy down my rate?
Yes, you may pay a fee to lower your mortgage rate.
Are there any other fees or money that I will need to bring to the closing?
Pre-paid interest is the only additional funds necessary to bring to the closing. And in the event that an escrow account is being set up to pay real estate taxes and/or homeowners insurance, those funds are collected at closing as well.
What is pre-paid interest?
Pre-paid interest is money that must be paid from the day of closing until the end of the month.
Do I need hazard/homeowner’s insurance? If so, how much?
Yes, insurance is required to cover the amount of your loan.
Do you hold your own mortgages or do you sell them?
Peoples First has never sold the servicing on mortgage loans. We are an in-house lender and we maintain our own portfolio.
Does Peoples First offer debit cards with the account?
Yes! Peoples First offers FREE Visa debit cards with all checking accounts and FREE ATM cards with all savings accounts.
How do I change the address on my accounts? Can I send a request by e-mail?
To help prevent identity theft, a change of address form is required to be completed in person with a Peoples First Customer Care Representative.
How do I order new checks?
You may order checks on-line at www.peoplesfirstohio.com. Our Customer Care Representatives also can assist you.
How do I stop an automatic payment?
A signed, written request is required two weeks prior to the payment date.
Are images of checks included with monthly statements?
Images of your checks are provided with your bank statement each month, except for Freedom Checking accounts.
What types of overdraft protection does Peoples First offer its customers?
We offer a sweep account that protects your primary account. In the event a debit clears and the money is not available, funds will “sweep” from your sweep protection account to cover the debit item. There is a $10.00 sweep fee per transaction. We also offer an overdraft protection line of credit. In the event a debit clears and the money is not available, funds will be moved from the overdraft protection account to your checking account to cover the debit item. The amount moved from the overdraft protection account will bet the smallest multiple of the minimum advance ($100) necessary to cover the debit item. Contact us for information on interest rates and applicable fees.
How do I stop a payment on an outstanding check? What is the fee?
To place a stop payment, you can speak with a Customer Care Representative. A signed stop payment request form is required and a $35.00 fee is assessed.
How do I change my ATM PIN?
To provide security and reduce the risk of identity theft, this service is only accessible at Peoples First Savings Bank ATM locations.
Where can I find rate information for the checking, savings and loan products offered by Peoples First?