News and Announcements

    Security Federal Savings Bank celebrated 50 years of being in business in 2010.  Through out the year, Bank trivia articles were posted to the News and Announcements page.  Those articles have been consolidated here for convenience.

Happy Birthday To Us

    On Tuesday, January 5th, 1960 Security Federal Savings and Loan Association opened it's doors on Court Square.  Since then, there's been a few changes to mention:  we are now a full service bank, we have three locations, and provide some of the latest banking technology available. But some things stay the same and we are proud to have the pleasure of working with the wonderful people of McMinnville and Warren County for the last half century...and we're still the friendliest bank in town.  Although plans are not finalized, watch for more news about a small celebration we may be having later this year.  And also keep an eye out for trivial facts on the News page about Security Federal through out the year.

posted Monday 8 February 2010

Big Blue

    Security Federal Savings and Loan Association built the West Main Street building and moved from the Bank’s original location on Court Square in 1969.  At about 8,300 square feet on both floors, the concrete and metal girder structure boosts the beautiful angular free floating staircase inside the glass enclosed arboretum that also houses dozens of live plants and a chandelier.  The neomodern free-standing sculpture of six arched megaliths at the Main Street entrance, over the years, has become a familiar local landmark.  Although there have been several refurbishments and small construction projects along the way (the biggest being the addition of three lanes to the drive-thru), the building is basically the same as when it opened 41 years ago.

posted Tuesday 2 March 2010

Reach Out

    In 1977, Joe Pugh (currently President/CEO) was working with Rhonda Pelham (currently employed with the DeKalb County School System) at the newly opened Smithville branch of Security Federal Savings & Loan.  There was a part-time teller occasionally, but Joe and Rhonda pretty much took turns being tellers, loan officers, branch managers...just about anything that was needed to keep the mobile banking facility (at the present day Pizza Hut location) open for business.  Although the branch was closed in 1982, Security Federal still enjoys and appreciates some of the customers from DeKalb County that started out with us back in the day and have stayed with us over the years.

posted Monday 5 April 2010


    Technology made a big leap at Security Federal in 1983 when the Bank’s first computer was installed for savings accounts. “It was a monster.” Joe Pugh said about the behemoth that stood some four and a half feet high. “And it had those old (vacuum) tubes inside of it.” The Unisys computer was wired to the Bank’s core processor in Cincinnati, Ohio through modems in a couple of locations between here and there. Another positive step in the direction of modernization came a year later when the Bank began entering mortgage loans into the same computer in 1984. Though humble in its abilities, that computer heralded the new technological age of today that includes conveniences like Automatic Teller Machines, Internet Banking, On-Line Statements, and Check Imaging.

posted Monday 17 May 2010

Busy, Busy, Busy

    The two year period from 1995 to 1997 was a time of progression here at Security Federal. In ’95 we changed our name to Security Federal Savings Bank.  In 1996 the Bank’s assets exceeded forty million dollars and our first ATM was installed on Main Street. In ’97 Security Federal converted from a mutual savings bank to a stock savings bank with shares initially sold at $10.00 per share and first trades at about $13.50. We also expanded our facilities and convenience for customers by opening the New Smithville Highway branch. In October of that year we also installed a new computer system at both locations and, by the end of that year, the Bank’s total assets reached over $50 million.  No doubt, there was a lot happening in those two years!

posted Tuesday 6 July 2010

A Matter Of Trust

    In the Winter of 1998, the Board of Directors had decided Security Federal needed a Trust Department. By happenstance, in the Spring of 1998 Joe Pugh bumped into Ken Smith at a Tennessee Bankers Association meeting in Nashville and mentioned the idea to Ken, in the event he was ever interested. Ken was already looking at a move, “I could have gone to Memphis, St. Louis or Athens, TN.”. Ken said of the options he had that year. “But we stayed right here in McMinnville.”. The Trust Department of Security Federal opened up for business in July of 1998 with Ken and Shannon Haston at the wheel and they have built up assets of over $100 million over the years. Stop by and visit with Ken and Shannon the next time you're around. They’re in the Trust & Operations Center next to the Main Street branch.

posted Wednesday 28 July 2010

Spreading Out

    2010 is not only the 50th anniversary of Security Federal Savings Bank, it's also the 10th anniversary of the Trust And Operations Center.  When the Ford dealership moved to their new location on Highway 55, Security Federal took the opportunity to purchase the property on the East side of the Bank. The building next to the bank not only provided sorely needed storage space, it was remodeled to house the Trust and Investments department, the Accounting Department, a documents vault, the Board Room, and all the other operations personnel.  Since the Trust and Operations Center was opened in 2000, the Mortgage Department and a dedicated state of the art computer room has been added to the interior of the building.  In addition to the Trust and Operations Building, the land purchase provided for a large parking lot and also allowed the Bank to expand the drive-thru from only one lane with one teller station to the current four lanes with two teller stations.

posted Monday 30 August 2010

308 West Main Street

    In 2001, Security Federal bought the old "C.R. Morton" house and land next door to the Bank for expansion. Although steeped with history, the old house was just too far past the point of no return and had to be taken down. In 2005, with the downtown renovation project in full swing, Main Street McMinnville started hosting Main Street LIVE! on Security Federal’s West Lawn. The elevated driveway on the West side of the Bank provides for a natural stage with the lush green grass and towering trees of the Lawn making for a pleasant and inviting audience area. The West Lawn has become a location for many other types of events to include Leadership McMinnville’s Autumn Street Fair, Warren County High School’s Pork And Bands, Leadership Warren’s Family Movie Night, Biker Church and even a couple of yard sales too, just to name a few. And, for those that surf, there’s even a Wi-Fi hot spot provided by Ben Lomand Communications that allows for internet access. Due to concert crowds reaching upwards of 2000 people, there are plans afoot to have the vendor area moved to the North parking lot that fronts Morford Street. This move will allow for more vendors and for the overflow of the concert crowds to go between the Atrium Office Buildings I and II. Although it’s just a small plot of land, the West Lawn has plenty of history and provides plenty of entertainment and serenity for lots and lots of folks.

posted Friday 22 October 2010


    In 2005 Security Federal implemented Internet Banking and Bill Pay for our customers.  Internet Banking offers the advantages of the latest in technological features, including:  Account balances and histories, viewing and printing checking account statements, view and print check images, one time and recurring funds transfers, account information downloads, 128-bit Cipher Encryption strength all from the comfort of any internet accessible computer.  Many of our customers signed right up for the new feature filled service right off the bat and many more have logged onto the technology wave since the beginning.  The extra added service of Bill Pay allows Bank customers to schedule recurring monthly or other periodic payments or setup a one time payment for something special.  If you have questions about Internet Banking or Bill Pay, feel free to call upon our Customer Service Representatives at any one of our three locations.

posted Monday 22 November 2010

Open Horizons

    On May 8th, 2009 Security Federal celebrated the opening of the Manchester Highway Branch with a festive ribbon cutting ceremony.  The day's activities included introductions of the new branch staff, community involvement, a welcome by Joe Pugh, President/CEO, and remarks by County Executive John Pelham, Representative Charles Curtis, Representative Judd Matheny, Senator Eric Stewart, and the Tennessee Commissioner of Banking and Finance Greg Gonzales.  We had lunch for those that stopped by and also held a raffle for a 42" big screen TV.  The winner of the TV, Rosanne Caten and her family, had recently switched a few of their accounts to Security Federal because of the convenience of the new location on the Manchester Highway.  To see some pictures from the big day, click here.

    As the next 50 years begins for us, we would like to thank you all for reviewing and reliving just a small handful of memories and events that have made and shaped so many of our lives in the first 50 years with these tiny tid bits of trivia through out this last year.  The officers and employees of Security Federal Savings Bank are always happy to help the community that we work and live in.  It is truly our pleasure to be The Friendliest Bank In Town.

posted Monday 27 December 2010

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