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Changes coming June 2022
Glasford Bank and Better Banks will become one
Glasford Bank has been a strong community bank in Glasford for almost 90 years. The mission statement has always been to serve the people and businesses of the Glasford area.
We are pleased to announce that in June of 2022, Glasford Bank will merge with the Better Banks. Glasford Bank and the Better Banks have been sister banks for over 40 years and have the same philosophy in banking.
What does this merger mean to you as a customer? The employees that you know and see today will be there to serve you as they have in the past. Your phone calls will still be answered by a live person. We intend to keep the strong community bank feel that you have come to expect, as well as incorporate the best features of both banks. You will have eight additional branches available to help with your banking needs, as well as several new ATM locations in the Peoria area.
Our staff is very excited about this merger and hope you will be as well!
See our FAQs below for more information.
- Will my account remain the same?
Most of our customers will not see a change to their accounts. However, due to duplicate account numbers between Glasford Bank and Better Banks, a small number of customers will be issued new account numbers. These customers will be contacted by a Glasford Bank employee prior to the June merger date. We will do our best to make the transition as smooth as possible for all our customers.
- Will my Glasford Bank debit card still work?
Yes, all current Glasford Bank debit cards will work and remain unchanged.
- Will my Glasford Bank checks still work?
Yes, all current Glasford Bank checks will be accepted and processed as normal.
- Will I be able to use Better Banks ATMs?
Yes. Better Banks currently has seven ATMs in the Peoria area and Glasford Bank cardholders will be able to use these locations after the June merger is complete. Click here to view Better Banks ATM locations.
- Savings Accounts
When Glasford Bank becomes part of Better Banks, there will be changes to the way Savings accounts interest is calculated, as well as fees associated with the account, as follows:
- Current 'Regular Savings' and 'Education Club Savings' accounts will become 'Better Savings' accounts.
- The interest rate for Education Club Savings will be changed to the Better Savings rate.
- Interest will accrue and the APY will be calculated on collected balance.
- Interest will be compounded quarterly.
- Better Savings includes a $5 quarterly fee which is waived with $100 minimum balance. The account also comes with 12free withdrawals quarterly; each withdrawal thereafter is $1.
- Minors are not charged any fees until the age of 21.
Learn more about Better Savings here.