New FDIC Coverage Amount Now Permanent
Good News! FDIC Insurance Coverage of $250,000 is now permanent with no expiration date!
Effective July 21, 2010, President Barack Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act, which made permanent the current standard maximum deposit insurance amount (SMDIA) of $250,000.
New Art Exhibit: Places
Santa Cruz County Bank Arts Collaborative presents it's new art exhibit Places. Places is on exhibit at all Santa Cruz County Bank locations July 19th through October 12th. This show is Santa Cruz County Bank's first photography show and features 10 local artists. A visual journey around the globe, Places awakens our senses to travel and adventure. In tribute to the longevity and historical imprint left by the black and white photograph, ten local photographers showcase their imagery from near and far.
Special Event:
Join us Friday, August 6th, 2010 from 6 - 8pm, for our First Friday Reception at 720 Front Street, Santa Cruz.
Did you know Santa Cruz County Bank Arts Collaborative is on facebook? Become a fan and get updates on the current art show.
View more details at our art exhibit page.
Bank receives "Excellent" rating
Santa Cruz County Bank has been awarded an "Excellent" 4 star rating from Bauer Financial for its 2010 First Quarter results. Bauer Financial has been reporting on and analyzing the performance of U.S. banks and credit unions since 1983. For more information please visit
bauerfinancial.com.
Santa Cruz County Bank reported record earnings for the first quarter of 2010. Highlights included an increase in net income of $267,980 over the prior quarter and double digit percentage growth in assets, gross loans, and deposits on a year to year comparison basis. Click here to read more about the Bank's first quarter results.
SBA Department Awards for Excellence in 2009
 Daljit Bains |
Santa Cruz County Bank was recently recognized by the USDA Rural Development for Lender Excellence in 2009. The Bank ranked 3rd highest in California for its volume in Business & Industry Guaranteed loans in California and thirteenth highest in the Nation for its production of $18.6 million in Business & Industry Guaranteed loans through USDA Rural Development. Sue Chandler, Santa Cruz County Bank's SBA Department Manager received the Exceptional Leadership Award for 2009 from USDA Rural Development. Daljit Bains, Vice President, SBA Loan Officer received the Outstanding Loan Officer Award for the USDA's Business & Industry Guaranteed Loan Program. |  Sue Chandler |
Green Minded Businesses
Meet some of the Green Minded Businesses that bank with us! We're pleased to have relationships with local businesses that have made a commitment to environmental practices. If you're a green minded business that would like to bank with Santa Cruz County Bank, let us know!
Bank Reports 4th Quarter and Year end Results
Santa Cruz County Bank reported a 15% or $32 million deposit increase and a 16% or $36 million increase in assets in 2009 as compared to 2008.
To read a copy of the Bank's Fourth Quarter and Year End Results press release, click here.
Bank receives Honorable Mention for Green Leaf Award
Santa Cruz County Bank has received a Honorable Mention for the Western Banking 2009 Green Leaf Awards. "Banks like Santa Cruz County Bank have historically provided leadership and support in their communities - that's why they are accurately called 'community' banks," said Western Banking Editor-in-Chief Bill Poquette. "At no time has this been more true than now, as they employ policies friendly to their local and regional environments and supportive of consumers and other businesses that do the same." Santa Cruz County Bank's environmental practices include the remodel of our Santa Cruz office to meet the U.S. Green Building Council's standards for LEED Certification and ensuring that all of our seven office locations have received Green Business Certification from the Monterey Bay Area Green Business Program. We encourage and practice energy conservation, have implemented paperless solutions and provide financial support to environmentally oriented organizations. Banks in seven Western states, ranging from $60 million to $3 billion in total assets, participated in the Western Banking 2009 Green Leaf Awards recognition program.
Important Consumer Alerts
In an effort to protect your identity and your accounts, we wish to make you aware of recent fraudulent text messages and emails.
Text Scam:
Please note that Santa Cruz County Bank does not send unsolicited text messages to our clients to request information. If you receive a text relating to your accounts with Santa Cruz County Bank, please disregard the message requesting you to call an 800 number and report this to us immediately by calling 831.457.5000.
Phone Scam:
If you receive a phone message from Santa Cruz County Bank requesting personal information, transaction information or account information, you can always verify with us the validity of the call by contacting us directly at 831.457.5000.
Email Scam:
The FDIC has issued the following Consumer Alert:
The Federal Deposit Insurance Corporation (FDIC) has received numerous reports of a fraudulent e-mail that has the appearance of being sent from the FDIC. The subject line of the e-mail states: "check your Bank Deposit Insurance Coverage." The e-mail tells recipients that, "You have received this message because you are a holder of a FDIC-insured bank account. Recently FDIC has officially named the bank you have opened your account with as a failed bank, thus, taking control of its assets." The e-mail then asks recipients to "visit the official FDIC website and perform the following steps to check your Deposit Insurance Coverage" (a fraudulent link is provided). It then instructs recipients to "download and open your personal FDIC Insurance File to check your Deposit Insurance Coverage." This e-mail and associated Web site are fraudulent. Recipients should consider the intent of this e-mail as an attempt to collect personal or confidential information, some of which may be used to gain unauthorized access to on-line banking services or to conduct identity theft. The FDIC does not issue unsolicited e-mails to consumers. Financial institutions and consumers should NOT follow the link in the fraudulent e-mail.
Santa Cruz County Bank becomes Leadership Bank
Santa Cruz County Bank has joined The State Bar of California's Leadership Bank program. Effective October 1, 2009, Santa Cruz County Bank will boost the interest rate paid on lawyers trust accounts (IOLTAs) to the Leadership Bank rate, which is currently 1%. Interest earned in these accounts are remitted to the State Bar's Legal Services Trust Fund Program, which distributes these funds in the form of grants to approximately 100 nonprofit legal aid programs throughout California. The interest from these accounts is remitted to the State Bar's Legal Services Trust Fund Program, which distributes these funds through grants to approximately 100 nonprofit legal aid programs in California. These legal aid programs will utilize the funds to provide services to those in need including low-income individuals, seniors, and people with disabilities. Recipients will receive legal aid with respect to critical issues such as housing, health care, education, disability rights, and elder abuse.
Barbara Yanow Johnson, Esq., Chair of the Legal Services Trust Fund Commission stated, "We applaud Santa Cruz County Bank for becoming a Leadership Bank for the State Bar's IOLTA Program. During this time of historically low interest rates, Santa Cruz County Bank has volunteered to pay a net yield that is higher than the yield they are required to pay on IOLTA. The additional interest generated provides much needed funding for civil legal services to low income residents during a critical period of need. Participation in the IOLTA Leadership Bank Program is a great way for banks to demonstrate that they are concerned about the welfare of the members in their communities. We hope that other banks will follow the leadership example set by Santa Cruz County Bank and join as well."
Exceptional Bank Designation
Santa Cruz County Bank is one of five banks in California to be chosen by Findley Reports, Inc. as an exceptional bank for its performance in 2008. Click here to read a recent news story regarding this recognition. Read an excerpt on Santa Cruz County Bank from the Findley Reports March 2009 Newsletter.
Bank Makes the Cover
Santa Cruz County Bank made the cover of the recent issue of Bankers' Edge, a publication provided by Pacific Coast Bankers' Bancshares. The issue features a four page story on Santa Cruz County Bank's unique banking approach, its products and services, and its commitment to reinvesting in the local community. We thank our clients that were included in the story for providing their time and allowing us access to their business properties for photos and interviews. Click here to view Bankers' Edge.
Preventing Identity Theft
Santa Cruz County Bank is pleased to provide you helpful information on how to protect yourself from Identity Theft. Click here to open a printable brochure.
Funds held in non interest-bearing transactions accounts at Santa Cruz County Bank are insured in full by the FDIC.
Santa Cruz County Bank is participating in the FDIC's Transaction Account Guarantee Program. Under that program, through December 31, 2010, all non interest-bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account. Coverage under the Transaction Account Guarantee Program is in addition to and separate from the coverage available under the FDIC's general deposit insurance rules.
Health Savings Accounts
We are pleased to offer Health Savings Accounts (H.S.A.'s) to eligible individuals. H.S.A's are the perfect way to grow your savings for medical expenses and take advantage of favorable tax treatment. Our Health Savings Accounts provide convenient access through unlimited H.S.A. check writing and a special H.S.A. debit card to pay for medical expenses. Click here to find out more about our affordable, FDIC insured Health Savings Accounts.