Webster City Federal Savings Bank announced today that effective April 1, it will change its name to WCF Financial Bank.
"This is a great next step for our institution as the new name reflects the strength and stability we've had for 80 years throughout Hamilton and surrounding counties and clearly positions us for future growth," said Stephen Mourlam, president and CEO.
"Even though our name is changing, our approach to relationship banking and focus on providing exceptional customer service will remain the same. The name change is meant to provide better brand recognition and clarity in both the Webster City and Independence markets," said Mourlam.
While the bank's name and logo are changing, no other significant changes will occur at this time, according to bank officials. The name change will have little impact on customers as their account numbers will not change and debit cards and checks issued under Webster City Federal Savings Bank will continue to be viable. As debit cards expire and check supplies run out, customers will be issued new ones with the WCF Financial Bank image.
"We are proud of our heritage and remain committed to the local communities we have been serving for the past 80 years," said Mourlam. "We are positioning ourselves for growth and our new name allows us to do that."
On January 3, 2014, Webster City Federal Savings Bank acquired Independence Federal Bank for Savings, Independence, Iowa, to expand their reach into this new market area as well as to increase Independence Federal's product and service offerings. The transition will take the remainder of 2014 for completion.
Since 1934, Webster City Federal has been operating as a financial institution providing a wide range of personal banking services to their customers throughout Hamilton and surrounding counties. They are currently located at 820 Des Moines Street, Webster City, Iowa, and at 305 First Street West, Independence, Iowa, with ATM services at the Van Diest Medical Center and at the corner of Superior Street and Fair Meadow Drive in Webster City. Webster City Federal has assets in excess of $113 million and is a member of the FDIC and an Equal Housing Lender.