Direct Deposit & ACH Services | Security Federal Savings Bank

NOTICE ANNUAL MEETING OF MEMBERS

Notice is hereby given that the Annual Meeting of Members (the “Annual Meeting”) of Security Federal Mutual Bancorp (the “MHC”) will be held at the office of Security Federal Mutual Bancorp/Savings Bank located at 314 4th Street, Logansport, IN 46947 on Wednesday, May 27, 2026, at 1:00 p.m., Eastern Time, and at any adjournment thereof. The record date for members eligible to participate in the Annual Meeting is March 31, 2026. The purpose of the Annual Meeting is to consider and vote upon the election of Dr. Susan Sciame-Giesecke (2029 Class), Mrs. Connie Shepherd (2029 Class), Mr. Bret Rinehart (2029 Class), Mr. Anthony Newman (2028 Class), and Mr. Jon-Myckle Price (2027 Class) as directors and such other business as may properly come before the Annual Meeting or any adjournment thereof. The Board of Directors is not aware of any other business to come before the Annual Meeting.

Direct Deposit and ACH Origination

Business owners, we bet you've heard the phrase, "time is money," and we'd like to help you save both.

ACH Origination and Collections

An ACH (Automated Clearing House) Origination allows you to create electronic payments and deposits by giving Security Federal permission to debit directly from your account. This helps you effectively manage your payables and receivables process in a convenient, secure way.

Benefits:

Give your customers a way to make recurring payments to your organization (ACH Collections)
Reduce administrative costs for your business
Improve cash flow and financial forecasting
Save time for you or your staff by automating the payment process

To be eligible for ACH, your business can apply for Cash Management through Security Federal. Please call, stop in, or contact our Treasury Management team: Preston Jones or Lynne Ness if you have questions.

Direct Deposit

The most efficient way to pay your staff is by encouraging them to enroll in Direct Deposit, our fully-automated payment option. You'll no longer need to print or mail out paper checks!

When a staff member agrees to be paid via direct deposit and you set them up in Treasury Management through Security Federal, neither you nor your staff member will need to visit the bank to transfer the money.

Benefits:

Saves you time and money by not having to print or mail out paper checks
Your staff members get paid faster by electronically depositing their check into a savings or checking account

How does it work?

To be eligible for Direct Deposit payments to your staff, your business can apply for Treasury Management through Security Federal. Once enrolled, you'll upload your staff's info to get their Direct Deposit established. It generally takes 1-2 payment cycles before the first check is directly deposited into their account.