March 13, 2023

Dear cfsbank Customer,

We want to reassure you that as a community bank, cfsbank remains well capitalized and well positioned to continue to serve our customers and community.

The recent events with a large bank that was forced to close has caused some people to doubt the soundness of the banking system and wonder if their deposits at their own bank are safe.  We can assure you that your deposits with cfsbank are indeed safe.

cfsbank was chartered 87 years ago and has a long history of being a bank that you can trust. Because we are a mutual savings bank, we are only beholden to our depositors and don’t’ have to worry about “maximizing shareholder value.” This allows us to grow in a very disciplined way and focus on what is best for our customers. We plan to continue serving this community for generations to come.

As our customer, you have access to our experienced team, and we stand ready to assist you at all times with any of your questions or concerns. We take pride in our relationship-based business model focused on building long-term trust with our customers. After all, we live in your community too, and your success is our success.

Nobody has ever lost a dime of FDIC-insured deposits up to $250,000. For those customers who have questions about whether additional insurance coverage is needed, we are ready and prepared to assist you in identifying whether additional insurance coverage is necessary and ensuring your deposit needs are met.

If you have questions about your coverage, or would like to learn more about FDIC insurance and how it works, we encourage you to access the following resources or give us a call directly at 724-483-3566.

Sincerely,

John Gill
President & CEO