ALERT: COVID-19 We have enacted our business continuity plan and are making every effort to ensure the safety of our clients and associates.

Blog

FedNow℠ Service

9/11/2019

Community Banks/Bankers Celebrate Federal Reserve Board's Landmark Announcement of New Real Time Payments Platform!

The Federal Reserve Board recently announced that the Federal Reserve Banks will develop a new round-the-clock real-time payment and settlement service, called the FedNow℠ Service, to support faster payments in the United States. This landmark announcement will ensure universal access for Financial Institutions of ALL sizes to real-time payments, avoid a megabank monopoly and enable competition, while encouraging innovation that will benefit consumers and businesses nationwide. This certainly levels the playing field with the "Mega Banks" for Community Banks across the country.

Link to Official Press Release: https://www.federalreserve.gov/newsevents/pressreleases/other20190805a.htm

Bank Locations & Hours

Bank Locations & Hours

You're leaving our website...

We just wanted to let you know that you are about to enter a website hosted by another party. Please be advised that you will no longer be subject to the privacy and security policies of Saints Avenue Bank’s website. We encourage you to read and evaluate the privacy and security policies of the websites reached through the use of links found in our website, as we are not responsible for the validity, collection, use or security of information by organizations that may be linked to our website.

Continue Cancel ×