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Additional information |
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Hatboro Federal Savings |
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Overview:
“Hatboro Federal Savings & Loan Association has been providing banking and financial services such as home mortgage loans, home equity loans, and home equity line of credit to individuals and families in Montgomery and Bucks County Pennsylvania for more than six decades. We also have some of the most competitive home equity loan rates and savings interest rates in the community. We are proud of our innovative financial products, exceptional customer service and commitment to the communities we serve.” |
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History:
Hatboro Federal Savings & Loan Association, a local banking institution long recognized for its impressive financial strength and community focus, was chartered by the Federal Home Loan Bank Board on February 3, 1941, with $25,000 in assets, the minimum requirement at the time. The first mortgage commitment was made on April 17, 1941 in the amount of $4,500 for a house purchased in the Boro of Hatboro.
The community's confidence in the institution's board of directors allowed Hatboro Federal Savings to grow quickly. Assets on June 30, 1941, were $39,044; six months later, our statement of condition listed assets of $112,353.35. Today, Hatboro Federal holds nearly $503 million in assets, including more than $60 million in excess capital, more than three times the regulatory capital required by the Office of Thrift Supervision. In fact, Hatboro Federal is considered one of the healthiest and safest banks or savings and loans in the nation and has been awarded the highest rating available, 5 stars, by Bauer Financial, an independent rating institution.
Bricks and Mortar
While Hatboro Federal Savings has been instrumental in putting people of our community into their own homes, we did plenty of moving in the early years before settling into the impressive main office we have occupied since 1951. The federal savings and loans first home was at 39 South York Road. On September 10, 1942, we moved to 214 South York Road, then to 121 South York Road in May 1947. Hatboro Federal then acquired the John Harrison House at 221 South York Road and renovated the interior and exterior of the historic 1742 structure. When the impressive stone building opened on April 26, 1951, as Hatboro Federal Savings, it became a landmark in the community.
Continued growth necessitated additional expansion. The Warminster office, a new structure at 609 York Road, opened March 17, 1960; the Warrington office at Bristol and Easton Roads opened in the renovated 1799 John Barclay house on April 9, 1964.
An extensive addition was built onto the main office and completed in 1978. When the savings institution found they could not salvage the neighboring historic Potts House it acquired at 229 South York Road, Hatboro Federal undertook a historic replication that was completed in 2000; it now houses the loan department.
A Community Approach in All Things
Hatboro Federal Savings believes that a hometown bank is only as safe and healthy as the community it serves, and so we dedicate our resources and considerable energies to helping the community stay strong and vital.
Many area charitable organizations receive regular assistance from Hatboro Federal. We raise funds for the Main Street program and the Greater Hatboro Chamber of Commerce through major sponsorship of Bid$ & Bites, spring gourmet food-tasting event, summer's Moonlight Memories, car show and HatOber Fest. Through the Hatboro-Horsham Education Foundation, Hatboro Federal supports grants to teachers for special classroom programs and funds community cultural events that enrich the lives of all our residents.
Bank staff and officers who are members of Rotary International, the world-wide organization that raises money for community projects and to promote goodwill around the globe, are supported in their efforts by the bank. Hatboro Federal has helped in fundraising for the Hatboro, Warrington, Willow Grove and Horsham Rotaries.
Hatboro Federal Savings is one of the primary contributors to the venerable Union Library of Hatboro. The bank also is a substantial supporter of the Hatboro Area YMCA and Hatboro's beloved winter holiday parade, one of the largest community-based holiday parades in the area.
Hatboro Federal Savings & Loan Association, headquartered in Hatboro PA, is a PA Bank serving the financial needs of the local community residing in Bucks County and Montgomery County, PA. |
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