Security Federal coming to Delphi
Comet staff report

Security Federal Savings Bank is in the process of putting in a 2,500 square foot full banking facility in Delphi, according to Annette Russell, president and CEO.

Security Federal is a mutual thrift organization that is owned by its depositors. "We don't have outside investors," she said. "We have not converted to stock and have no intention to convert."

This affords Security Federal to be more communityminded, instead of focusing on bottom line results, she added.

Security Federal was first established in Logansport in 1934. There is now a second branch in Logansport and a third branch in Kokomo.

Russell said that Delphi was a good fit for several reasons,

including the availability of land near the Hoosier Heartland Highway, current customer traffic, and a need for a community bank in Delphi.

Russell explained there will

be five to six full-time employees at the Delphi branch.

"We want to employ people who reside in Carroll County," she said.

"We will be using local contractors and will own our building," Russell added. She expects the new branch with Saturday hours to open next spring. Ground breaking will occur in a couple of months.

The branch will be located at the corner of U.S. 421 South and Armory Road and will be the fifth financial institution in Delphi.

"We're making a commitment to stay and remain Security Federal," said Russell.