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SAGINAW, MI (January 16, 2013) – “We are coming to Saginaw,” announced Robert M. Wolak, President and CEO of Community State Bank, St. Charles MI, following a settlement with the U.S. Justice Department (DOJ) and announced on Tuesday, January 15, 2013. Wolak said Community State Bank’s decision will not delay any effort to bring access to affordable credit to borrowers in a predominantly African-American neighborhood in Saginaw.
In the spirit of community banking, Community State Bank is investing $165,000 to open a loan office in the city. “We are going to make it work for the neighborhood, city and the bank,” Wolak emphasized. He explained that when Montrose State Bank merged with Community State Bank regulators felt the bank’s footprint should be all of Saginaw County including the city of Saginaw. “We accept that and will have our loan office up and running in the City of Saginaw very soon.”
Wolak said Community State Bank will invest $75,000 in special financing subsidies and down payment assistance programs to increase the credit extended to majority African-American neighborhoods in and around Saginaw; $75,000 in organizations that provide credit, and foreclosure prevention services in the area; and $15,000 in outreach to potential customers in the neighborhoods – totaling $165,000. Community will also open a loan production office in a majority African-American neighborhood in Saginaw and provide fair lending training for employees.
Wolak added, no factual findings of discrimination were found during the investigation by either the FDIC or DOJ. The bank agreed to the settlement with the idea that it would be more productive to invest in Saginaw versus paying the cost of litigation.
The settlement – which does not involve any legal finding regarding the allegations brought against Community State Bank – is still subject to court approval.
About Community State Bank
Community State Bank is a locally owned and operated full service financial institution. Headquartered in St. Charles, the Bank has eight neighboring branches – St. Charles, Thomas Township, Birch Run, Chesaning, Montrose, Flushing, Albee and New Lothrop. Community State Bank has been serving the community for over 71 years. For more information, please visit gotocsb.com or call the Bank at 989-865-9945.
St Charles, MI (August 6, 2012) – Community State Bank is pleased to announce that $915.68 will be donated in the second quarter to community programs in the St. Charles area, thanks to the efforts of the Bank’s employee initiated charity efforts.
According to Community State Bank President and CEO Robert Wolak keeping it local has been Community State Bank’s mission from its start. “It’s part of our culture and it’s what inspired one of our employees, 18 years ago, to suggest collecting donations from co-workers in exchange for a designated ‘Dress Down Day,’ to support local charities,” explained Wolak. “All of our employees have a designated amount of money deducted from their checks each payday to donate to community programs and organizations. Each bank branch determines where the money will go in their communities.”
Community State Bank employees donate money to local organizations through the Community Care Fund. “We are proud of our employees and their involvement. It’s a great way to connect heads, hearts and hands,” added John Wendling, First Vice President, Retail Manager, Business Development Officer, Community State Bank.
Give an hour. Give a Saturday. Where local matters. Community State Bank branch employees participate when or where they can each fiscal quarter, to raise money for a local non-profit charity and volunteer their time to numerous community organizations and special events.
This quarter’s recipients from the following branches:
Branch / Organization Recipients
St. Charles / Bulldog Pride Committee
Thomas Township / First Choice Program – Saginaw County Mental Health
Chesaning / Chesaning United Appeal
Birch Run / Birch Run Lions Club
Flushing / Montrose Open Cupboard Food Pantry
New Lothrop Operations / American Red Cross, Great Lakes Bay
Wendling also credited the efforts of Community Care Coordinator: Kathy Vogt and her Community Care Committee: Shelley Slivinski, Roxanne Eimers, Carol Beckman, Kim Bolf, Jennie Carlton, Pam Klein, Jeanne Weber.
Community State Bank is a locally owned and operated full service financial institution. Headquartered in St. Charles, the Bank has eight neighboring branches – St. Charles, Thomas Township, Birch Run, Chesaning, Montrose, Flushing, Albee and New Lothrop. Community State Bank has been serving the community for over 70 years. For more information, please visit gotocsb.com or call the Bank at 989-865-9945.