Lincoln Federal Savings Bank has been serving the Lincoln community for 114 years. With 5 branches in Lincoln, we provide all of your personal banking needs; from checking accounts to savings accounts to home mortgages, we have you covered.
Rolling Through the Years
It all began in 1906. That was the year that we started in the loan business as Lincoln Savings and Loan Association. Our first loan was approved in the amount of $500! In 1937, Lincoln Savings and Loan Association became a federal charter, Lincoln Federal Savings and Loan Association. In 1962, Jerry Maddox and Dick Hitz joined our team. At this time we were located off of 11th & O Street – you’ll notice the large bronze penny on the outside of our building at the time. In 1970 the association grew to $11.3 million in assets, relocated to 1101 N Street and expanded to the western part of the state…Of course we took that bronze penny with us. In 1990, Leo Schumacher, our current CEO, joined the team! And now, in 2020, we have grown to over $300 million in total assets, developed land across Lincoln, and have built a new Corporate Office at 8400 Maddox Drive. Yes, if you’re wondering, the very same bronze penny from 1962 is the focal point of our lobby.
What do you think makes you different from other companies similar to yours?
In comparison to our competitors we offer highly competitive rates on all of our products – checking, savings, certificates of deposit and residential mortgage loans. When you call our bank, Nicole will answer the phone – no robots here! Personal Banking Like You Remember is more than a tagline – it is how we treat our customers. Our personal banking truly gives us a competitive edge and makes our customers feel at ease. Our products are meant to meet you where you are in your financial journey.
What kind of community organizations is your business involved with?
Our banking professionals in Lincoln are involved in a number of community organizations through the Lincoln Federal Lending Hands Program. This program is designed to get employees involved in their communities through volunteering. Some of the organizations that our Lincoln employees serve are Make-A-Wish, HBAL, Junior Achievement, TeamMates, Matt Talbot Kitchen & Outreach, VITA, and Salvation Army. In addition to community programs, a committee of Lincoln Federal employees has banded together to create the LincolnFED Kids program. This committee hosts fundraisers year round to raise money for holiday food baskets. These baskets include the groceries needed to host a holiday meal, desert, and enough food to help 125 food-insecure families in our community get through the holiday school break.
What changes have you seen in the industry in the past few years?
In the past few years Lincoln Federal has evaluated the market and has made some great changes! We have reevaluated our product offerings to provide a highly accessible and easy to use mobile app, bill pay, compatibility with Apple Pay and Google Pay, and so much more!
In 2020, we have all been presented unique challenges. We have adapted in ways that we hadn’t imagined before – at one time over 50% of our workforce was working remotely, we had to adapt our loan closings to make sure that our customers were feeling comfortable throughout the process – we began using video chats and started performing closings outdoors where accessible. We adapted all of our services to be performed through the drive-thru to minimize contact and have optimized our online banking so that all of your banking needs can be performed at home with little effort. Member FDIC.