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President's Message
There is something inherently unique to Ozarks Federal Savings & Loan
Association that makes us different from other financial institutions.
We were designed differently. We have remained different over the past
three quarters of a century and we’d like you to know what sets us
apart.
First, we are a mutual association. We were designed in the Great
Depression, at a time when confidence in the banking system was at an
all time low, when providing true value was the only way to save the
nation. Since 1930, our depositors have pooled funds so that borrowers
can buy or build homes. Depositors and borrowers automatically become
members of this mutual association, and all decisions are made to
benefit these members. Our boss is the member, not some other
stockholder. Our members profit from our business plan and we are not
driven to pay dividends to a special class of investors. That is true
value.
Second, we are specialists. It is the homeowner that we serve. We
learned long ago that we can’t be the best home lender by overwhelming
our staff with selling insurance, stocks, and “financial services.” Our
homeowners would lose the benefits of successful, narrowly focused
specialists if we became big, highly diversified generalists. Our focus
means that our own highly trained people take your calls, appraise your
homes, close your loans and answer your questions. We can provide this
special level of service without special charges for taking
applications, requiring outside appraisals, or closing your loans at
some title company office. That is true value.
Third, we don’t sell your loans to another. We don’t believe that
it is in the homeowners’ best interest for us to turn the servicing of
your loan over to some stranger. Others design their loan products to
make a commission by immediately assigning or selling a loan to another
company as soon as the homeowner signs the note and mortgage, and the
borrowers don’t know where they will have to send their payment or what
answering service will handle their calls. We don’t sell loans, so we
charge no hidden commissions in application fees, or appraisal fees, or
special closing costs. That is true value.
Our business plan is unique in the communities we serve, at the six
locations where we do business. We provide true value to our members
in the savings products we offer. Our way of doing business permits us
to pay great interest, to offer great checking and savings accounts, the
best certificates of deposit, money market accounts, and individual
retirement accounts. The great features we offer permit our members to
enjoy value and security and peace of mind.
Since 1930, we have had a plan. We shall continue to be a mutual, with
our members as our master. We shall remain specialists, serving value to
homeowners. We won’t sell your loans to strangers and no hidden
costs. We know who we are. We are the homeowners bank.
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