Laconia Savings (Gilford, Meredith, Washington: mortgages, credit, construction loan)

[scone]

Hi all! Wondering if anyone is a Laconia customer? They seem stable, like an old-fashioned thrift, but things are so unstable right now, it's hard to know. Any opinions?

[nicolem]

Laconia Savings Bank? Yes we have our checking and savings accounts with them. They have quite a few branches in the Lakes Region where I live as well as other parts of the state. I much prefer them to the "big guys". They have a deal with Presto network-which is good because I am in Florida a lot helping my dad and he had a Presto ATM near him and I pay no fees to get my $$.

My husband has an ATM machine at his work that is with Conexxus Credit Union. My husband does not pay an ATM fee for getting $$ out of our LSB accounts however coworkers who have the larger banks-Citizens and TD Banknorth-pay fees.

I don't use on-line bill pay but I do log on to my account daily to balance my checkbook. Their online system is ok.


We have been happy with LSB so far. If you have any other questions-let me know.

Nicolem

[DareToDream]

Originally Posted by scone

Hi all! Wondering if anyone is a Laconia customer? They seem stable, like an old-fashioned thrift, but things are so unstable right now, it's hard to know. Any opinions?

If you go to the site below, you can see what is said about Laconia and other banks/credit unions.

Bankrate.com -- Safe & Sound (tm): Bankrate's free rating system for banks, thrifts, credit unions

[BF66389]

Also remember that anything up to $100,000 (per account) is insured by FDIC so even if the bank goes under- you can get your money easily.

There are two things hurting banks right now:
1) Panic
2) Actual Bad Investments (real losses in securitized mortgages, etc)

You'll find that many local banks have much more stringent lending requirements and conservative practices than the "huge" national banks- to this end they are much safer in this sort of crisis. That said, a run on the bank can kill pretty much any bank.

So again, with FDIC your accounts are covered up to 100k...so statistically you are probably ok (most people don't have over 100k per account).

That said, investment accounts are not insured under FDIC since they play the stock market (with great potential for gains there is also great potential for loss).

[scone]

Thanks, everyone. The reason I'm interested in Laconia is because they do portfolio loans, and construction loans. They seem to be totally community-focused, which is the way I like it. I'm in a similar type of thrift here in Oregon (Washington Federal), and a fixed rate portfolio loan gives me a certain peace of mind, I must say. Also, I can actually talk to the branch manager anytime-- this is not the case with certain other messed up PacNW-based banks that I won't mention here!

[Brave Stranger]

Originally Posted by scone

Thanks, everyone. The reason I'm interested in Laconia is because they do portfolio loans, and construction loans. They seem to be totally community-focused, which is the way I like it. I'm in a similar type of thrift here in Oregon (Washington Federal), and a fixed rate portfolio loan gives me a certain peace of mind, I must say. Also, I can actually talk to the branch manager anytime-- this is not the case with certain other messed up PacNW-based banks that I won't mention here!

Another first-rate local bank here in central NH is Meredith Village Savings Bank. For my experience it's the best local bank in the area.

[packw]

Originally Posted by Brave Stranger

Another first-rate local bank here in central NH is Meredith Village Savings Bank. For my experience it's the best local bank in the area.

Just wanted to let you know that my husband and I went to Meredith Village this past winter for a construction loan. We brought the mountain of paperwork they need and after a month, our loan officer told us she had been driving around with this stuff in the back seat of her car for a month! With identities being stolen so often today, it sure did not give us a warm fuzzy feeling knowing how our personal paperwork was handled! Needless to say, I make sure to tell this story to anyone thinking of doing business with them!

[Brave Stranger]

Originally Posted by packw

Just wanted to let you know that my husband and I went to Meredith Village this past winter for a construction loan. We brought the mountain of paperwork they need and after a month, our loan officer told us she had been driving around with this stuff in the back seat of her car for a month! With identities being stolen so often today, it sure did not give us a warm fuzzy feeling knowing how our personal paperwork was handled! Needless to say, I make sure to tell this story to anyone thinking of doing business with them!

That's a weird story ? Never heard such a thing. I've had no trouble with them for over 20 years.

[roerinaci]

We have had an acct with Laconia Savings for 2 yrs never had a problem,we also have an acct with td bank north for over 10 yrs and also never had a problem. Both are very stable right now.

[Katlakat]

I worked for Meredith Village Savings Bank from 07-09 (just left in March). They are a friendly bank, a little old fashioned compared to what I was used to (coming from huge banks in Dallas), but they can work with you on things that some other banks won't try for. The best branch manager I ever met and worked for was Judi Tucker at the Gilford branch of MVSB. I've never seen hundreds of customers follow a lady throughout her career as I watched Judi. She's an amazing banker, and at 62 years old, you can completely tell she LOVES what she does for a living. When I worked for her, her boss would laugh and say, "Judi, I trained you to shake customer's hands!" Judi would say, "But I rather hug people I know!"

She's a hugger. So sweet! I'd give her all my business if I had any because she is a warm and fuzzy banker. There are few left these days....
Where else can you get 6% interest rate on a checking account?? Judi rocks!