Additional Services

Federally Insured Deposits

Deposits of up to $250,000 in Welcome State Bank are federally insured by the Federal Deposit Insurance Corporation. The FDIC is an independent agency of the United States Government established in 1933 to insure bank deposits, help maintain sound conditions in our banking system, and to protect our nations' money supply in case of financial institution failure. The FDIC protection of your funds is backed by the full faith and credit of the United States.

All types of bank deposits, such as savings, checking, interest-earning checking, savings, and Certificates of Deposits are insured by the FDIC. Securities, mutual funds and similar types of investments are not covered by deposit insurance.

The basic insured amount for a depositor is $250,000. Accrued or anticipated interest or earnings is included when calculating insurance coverage.

Deposits maintained in different categories of legal ownership are separately insured. Therefore, it is possible for you to have more than $250,000 insurance coverage in a single institution if the funds are owned and deposited in different ownership categories.

Federal deposit insurance covers joint accounts such as joint tenants with a right of survivorship, tenants by the entireties, tenants in common or a deposit owned by a husband and wife.

Funds deposited by an executor or administrator for the estate of a deceased person are added to any funds maintained in the name of the deceased with a maximum insured level of $250,000.

All funds belonging to the estate of the deceased, whether held in the name of deceased or deposited by the executor or administrator for the deceased's estate, are separately insured from funds owned by the executor, administrator or beneficiary of the estate.

Funds deposited by a corporation, partnership, or unincorporated association are insured up to a maximum of $250,000. Funds deposited by a corporation, partnership, or unincorporated association are insured separately from the personal accounts of the stockholders, partners, or members.

For further details of FDIC coverage of your deposits, please obtain our pamphlet "Questions & Answers: Your Insured Deposits" or consult the Federal Deposit Insurance Act (12 U.S.C.1881 et.seq.) and the FDIC's regulations relating to insurance coverage (12 C.F.R. Part 330).

For further information, please link to the following FDIC website.

Welcome State Bank is proud to offer a variety of products to fit your needs.

Checking Accounts
Here at Welcome State Bank, we realize that your financial needs are unique. That’s why at Welcome State Bank, we listen to your financial needs and then recommend the best deposit plan for meeting your financial goals. There are several types of convenient accounts available to our customers. We offer Free Checking, Business Checking and Now Accounts.
Savings Accounts
Welcome State Bank is happy to offer you different interest bearing accounts that you can use to invest in your own future. Welcome State bank offers a Free Children’s Savings, a Regular Passbook Savings, a Money Market account and Park it Here Accounts.
Loans
We offer a complete line of loan products to assist you with your lending needs. Our lenders have years of experience and can help you pick financing options that best help you.
Retirement Investments
Welcome State Bank wants to help you get to a more comfortable retirement. We have both Traditional IRA accounts and Roth IRA accounts.
Certificate of Deposits
Check our competitive rates on CD’s. Interest rates can change on a daily basis, so please call us at (507) 728-8251 for the most updated rates.
Safe Deposit Boxes
Use our Safety Deposit Boxes to protect your valuable items.
Credit Cards
We offer a complete line of VISA credit card products.

Welcome State Bank offers many other services to help improve your experience.

Cashiers Checks
Money Orders
Wire Transfers In & Out
Photo Copies
Fax Transmission & Receipts
24 Hour Envelope Drop
Bank by Mail
Notary Services
Direct Deposit