The mission of Washington Savings Bank is to be a financially strong, progressive bank, serving our customers by providing quality, professional and innovative products and services they need and want, in a safe, sound manner with a friendly touch.
In 1883, a group of men got together, to establish an organization whose primary purpose was to help its members purchase homes. The first organizational meeting was held on August 27, 1883 in the German Base Ball Club and Entertaining Society Hall in Effingham. The Association charter was issued by the Illinois Secretary of State on September 4, 1883. The original name of the association was The Washington Loan and Building Association. The name was changed in 1956 to Washington Savings and Loans Association, and in 1992 the association changed its charter and became Washington Savings Bank. The association became a federally insured institution in 1958.
The founding members of the association were A.J. Worman, John George Keyneman, F.H. Evers, Joe Merz, A. Gravenhorst, B.R. Walters, Jacob Schmitt, Henry Alt, John J. Schneider, Barney Overbeck, and J.A. Schellembach.
The associations’ assets at the end of its first year of business totaled $4,703.65. As of December 31, 2017 the bank’s assets are in excess of $369,100,000.00.
The association has had seven presidents and/or board chairman. A. Gravenhorst served from 1883-1913, B. Mussman 1913-1930, H. Eversman 1930-1958, Wm Tolch 1958-1993, James W. Tolch 1980-2005, and Claude E. Hudson 2001-2014, and David J. Doedtman 2014-present.
The association prospered during its early years, and its meeting place was the German Base Ball Club and Entertaining Society Hall located in the Register Building. It later moved to the second floor in the Opera House Block. In December 1928 it purchased land at the northwest corner of Jefferson and 5th streets and built its own office building. Due to its continued prosperity, in 1971 the association built its present office on the northeast corner of Fayette Avenue and Banker Street. The present location underwent an expansion and complete remodeling in 1999-2000. The Effingham Keller Branch was acquired from Centrue Bank was acquired in June, 2010. On September 30, 2015, First Federal Savings and Loan of Mattoon was merged into Washington Savings Bank.
The current Board of Directors include: Rockney L. Weber, Chairman; Claude E. Hudson; L. Dean Samuel; Paul R. Koerner; Todd A Kabbes; Blake W. Linders; Gary A. Patrem; Paul M. McKillip; David J. Doedtman and Jon T. Spitz.
The current Officers include: David J. Doedtman, President & CEO; Jon T. Spitz, Sr. Vice President and Mattoon Market President; Rodney L. Murbarger, Vice President, Chief Credit Officer and Treasurer; Randolph L. Jones, Vice President and Secretary; Sandra K. Bernhard, Vice President and Assistant Treasurer; Elaine J. Buehnerkemper, Vice President and Assistant Treasurer; James J. McCoy, Vice President and Licensed Insurance Agent; Terry Reel, Vice President and Assistant Secretary; C. Russell Spitz, Vice President; Kathi Bottorff, Vice President; Ryan Fearday, Vice President; Chris Kabbes, Vice President; Gary L. Otto, Assistant Vice President; Tabitha Day, Vice President and Senior Trust Officer; Terri Gilbert, Assistant Vice President; Tami Wells, Assistant Vice President and Trust Officer; and Kathy J. Yarnell, Operations Officer.
Today Washington Savings Bank is the second oldest bank and largest home lender in Effingham County with 3 locations. Still true to our original charter, we earn your trust the old-fashioned way … through our personal service backed by financial strength.
Board of Directors
Rockney L. Weber – Chairman
David J. Doedtman – President and Chief Executive Officer
Jon T. Spitz – Senior Vice President and Mattoon Market President
L. Dean Samuel
Paul R. Koerner
Claude E. Hudson
Todd A. Kabbes
Blake W. Linders
Paul M. McKillip
Gary A. Patrem
David Doedtman–President and Chief Executive Officer
Jon Spitz–Senior Vice President and Mattoon Market President
Randy Jones—Vice President, Mortgage Lending and Secretary
Rodney Murbarger– Vice President, Chief Credit Officer and Treasurer
Sandy Bernhard–Vice President of Human Resources and Compliance
Elaine Buehnerkemper–Vice President of Customer Service
Terry Reel–Vice President, Operations
200 S. Banker Street Effingham:
Randolph Leo Jones – Vice President, Mortgage Lending & Secretary NMLS# 541155
Ryan Joseph Fearday – Vice President NMLS# 585947
Christopher T. Kabbes – Vice President NMLS# 402338
Gregory S. Bushue – Personal Banker NMLS# 1274698
1111 Charleston Ave Mattoon
Russ Spitz – Vice President Commercial Lending
James “Jerry” McCoy – Vice President NMLS# 412174
Kathi Bottorff – Vice President NMLS# 412172
Gary L. Otto – Assistant Vice President – NMLS# 525608
Bank NMLS# 493998
As a member of The Federal Deposit Insurance Corporation (FDIC), you can have peace-of-mind knowing that your deposits at Washington Savings Bank are protected up to the insurance limit allowed by the FDIC.
What the FDIC protects
At Washington Savings Bank, your deposits are protected up to the insurance limit by the Federal Deposit Insurance Corporation (FDIC). FDIC insured accounts include checking and savings accounts, money market deposit accounts, CDs and deposits in IRAs. Almost all of your interest-bearing deposit transaction accounts Washington Savings Bank, as well as deposits in IRAs and certain other retirement accounts, are insured to at least $250,000 per depositor, subject to certain limits.
Who funds the FDIC
The FDIC, an independent agency of the federal government created in 1933, is designed to preserve and promote public confidence in the U.S. financial system by insuring deposits in banks and thrift institutions. It is funded by premiums that banks and thrift institutions pay for deposit insurance coverage and from earnings on investments in U.S. Treasury securities.
Are you over the insurance coverage limit?
You can confirm that your deposits are within the insurance limits by using the FDIC’s Electronic Deposit Insurance Estimator (EDIE), by calling the FDIC at 1-877-275-3342, or by asking on of our Customer Service Representatives.
You can learn more about the FDIC through their website located at http://www.fdic.gov/deposit/index.html.
In Case of Errors or Questions About Your Electronic Transfers
If you think your statement or receipt is wrong, or if you need more information about a transfer on your statement or receipt, telephone or write us at:
Washington Savings Bank
200 S. Banker St., P.O. Box 707
Effingham, IL 62401
1-(800)-836-7173 or (217) 347-7173
We must hear from you no later than 60 days after we sent you the FIRST statement on which the error or problem appeared.
- Tell us your name and account number.
- Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe there is an error or why you need more information.
- Tell us the dollar amount of the suspected error.
We will investigate your complaint and will correct any error promptly. If we take more than 10 business days to do this, we will credit your account for the amount you think is in error; so that you will have use of the money during the time it takes us to complete our investigation.
In Case of Errors or Inquiries About Your Credit Line Bill
If you think your bill is wrong, or if you need more information about a transaction on your bill, write us at:
Washington Savings Bank
200 S. Banker St., P.O. Box 707
Effingham, IL 62401
We must hear from you no later than 60 days after we sent you the first bill on which the error or problem appeared. You can telephone us, but doing so will not preserve your rights. In your letter, gives us the following information:
- Your name and account number.
- The dollar amount of the suspected error.
- Describe the error and explain if you can, why you believe there is an error. If you need more information, describe the item you are unsure about.
You do not have to pay any amount in question while we are investigating, but you are still obligated to pay the parts of your bill that are not in question. While we investigate your question, we cannot report you as delinquent or take any action to collect the amount you question.
How to Compute Your Credit Line Finance Charge
FINANCE CHARGE: To get the “daily balance”, we take the beginning balance of your account each day, add any new advances or charges and subtract any payments or credits. Interest on this note is computed on a 365/365 simple interest basis; that is, by applying the ratio of the annual interest rate over the number of days in a year (366 during leap year), multiplied by the daily balance, multiplied by the actual number of days the daily balance is outstanding. Whenever the daily balance changes, a new computation is run and the sum total of the finance charges are added together to get the total interest due for a billing cycle.
Our Privacy Statement
What does Washington Savings Bank do with your personal information?
Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do.
The types of personal information we collect and share depend on the product or service you have with us. This information can include:
- Social Security number and income
- employment information and credit history
- assets and account balances
When you are no longer our customer, we continue to share your information as described in this notice.
All financial companies need to share customers’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons Washington Savings Bank chooses to share; and whether you can limit this sharing.
|Reasons we can share your personal information||Does Washington Savings Bank share?||Can you limit this sharing?|
|For our everyday business purposes – such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus||Yes||No|
|For our marketing purposes – to offer our products and services to you||Yes||No|
|For joint marketing with other financial companies||Yes||No|
|For our affiliates’ everyday business purposes – information about your transactions and experiences||No||We don’t share|
|For our affiliates’ everyday business purposes – information about your creditworthiness||No||We don’t share|
|For our affiliates to market to you||No||We don’t share|
|For nonaffiliates to market to you||No||We don’t share|
Call 217-347-7173 or visit one of our locations.
Who We Are
Who is providing this notice?
Washington Savings Bank
What We Do
How does Washington Savings Bank protect my personal information?
To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings.
How does Washington Savings Bank collect my personal information?
We collect your personal information, for example, when you
- apply for a loan or give us your income information
- provide account information or open an account
- use your credit or debit card
We also collect your personal information from others, such as credit bureaus, affiliates, or other companies.
Why can’t I limit all sharing?
Federal law gives you the right to limit only:
- sharing for affiliates’ everyday business purposes – information about your creditworthiness
- affiliates from using your information to market to you
- sharing for nonaffiliates to market to you
State laws and individual companies may give you additional rights to limit sharing.
- Companies related by common ownership or control. They can be financial and nonfinancial companies.
Washington Savings Bank has no affiliates.
- Companies not related by common ownership or control. They can be financial and nonfinancial companies.
Washington Savings Bank does not share with nonaffiliates so they can market to you.
- Joint Marketing
- A formal agreement between nonaffiliated financial companies that together market financial products or services to you.
Our joint marketing partners include a credit card company and the company that provides the core processing system for your bank accounts.