Security Federal Corporation (SFDL)

Overview

Security Federal Corporation functions as the bank holding company for Security Federal Bank, embarking on offering an extensive range of banking products and services. Founded in 1922 with its headquarters nestled in Aiken, South Carolina, the institution has committed itself to serving the financial needs of its community. As of February 8, 2021, Security Federal Corporation proudly operates 17 full-service branch offices strategically located across Aiken, Ballentine, Clearwater, Columbia, Graniteville, Langley, Lexington, North Augusta, Ridge Spring, Wagener, and West Columbia in South Carolina; along with Augusta and Evans in Georgia. This widespread presence underscores its commitment to providing accessible financial solutions to a broad spectrum of clients.

Products and Services

Security Federal Corporation's suite of products and services addresses both individual and commercial financial needs, ranging from deposit products to loans and additional financial management services.

• Deposit Products: The institution accepts a variety of deposit products including but not limited to savings accounts, checking accounts, money market accounts, fixed interest rate and negotiated rate jumbo certificates of deposit, as well as individual retirement accounts. These products cater to the diverse saving needs of its customers, providing secure and interest-bearing solutions for managing personal and business finances.
• Loan Services: Security Federal offers an array of loan services, which comprise:
  • Commercial Real Estate and Business Loans: These loans support businesses in acquiring, developing, and constructing commercial properties. They also cater to the needs of businesses seeking funding for operational expansion or capital investment.
  • Consumer Loans: Personal finance requirements are met with consumer loans that provide funding for various purposes including debt consolidation, major purchases, or personal investments.
  • Mortgage Loans: Addressing the housing needs of individuals and families, the bank offers mortgage loans for purchasing or refinancing one-to-four family residential real estate.
  • Construction Loans: Specially designed for developers and individuals, these loans provide financing for the construction of single-family residences, multi-family dwellings, and commercial real estate projects.
• Trust and Financial Planning Services: Beyond conventional banking products, Security Federal Corporation offers trust, financial planning, and financial management services aimed at helping clients manage and grow their wealth for future security.
• Insurance and Financing Services: Through its insurance agency, the bank provides a variety of insurance products including auto, business, life, health, and home insurance. It also offers insurance premium financing services, making insurance more accessible to its clients.
• Investment in Liquid Assets: Security Federal Corporation strategically invests in a range of liquid assets. These include U.S. Treasury obligations, securities of federal agencies, certificates of deposit at insured institutions, mutual funds, bankers' acceptances, federal funds, commercial paper, and corporate debt securities. This diversified investment strategy is intended to enhance the bank's financial stability and support its ability to meet the financial needs of its clients.