Municipal Banking Services
Let us help you simplify your financial needs.
At Southern Michigan Bank & Trust, we understand the unique financial needs of municipalities, schools, and government entities. Our Municipal Banking Services offer secure, efficient, and flexible solutions tailored to help you manage funds, streamline transactions, and support your employees.
Municipal Services:
- Checking & Savings Accounts - Easily deposit and withdraw funds with our FDIC-insured accounts.
- Online Banking - User-friendly online banking gives you access to your accounts anywhere with an internet connection.
- Merchant and Card Processing - Accept all major credit and debit cards at your institution, making transactions simple and efficient.
- Employee Purchasing Power - Issue credit cards to employees, set spending limits, and track expenses online.
- Positive Pay - A system designed to validate checks and protect you from fraud.
- Money Market Accounts - Federally insured accounts offering competitive interest rates, a secure way to save money.
- CDARS and ICS - With CDARS (Certificate of Deposit Account Registry Service) and ICS (Insured Cash Sweep), you can access multi-million-dollar FDIC insurance coverage for large deposits, ensuring your funds remain safe and secure. Visit our CDARS & ICS page for more information.
- & More!
Dedicated Municipal Banking Expertise:
SMBT has a dedicated Municipal Banking Officer with extensive experience in the field. As an Advanced Certified Public Funds Investment Manager (ACPFIM), our officer is well-versed in municipal finance and is actively engaged in key organizations, including:
-
MACT – Michigan Association of County Treasurers
-
MMTA – Michigan Municipal Treasurers Association
-
MWIF – Michigan Women In Finance
-
MGFOA – Michigan Government Finance Officers Association
-
MSBO – Michigan School Business Officials
-
MTA – Michigan Townships Association
Perks at Work Program:
Employees of municipalities and schools qualify for our Perks at Work program, which includes waived fees on Perks checking accounts, mortgage discounts, and higher savings rates—helping employees make the most of their finances with Southern Rewards.
-
Mortgages - Up to $525 off closing costs for first mortgage refinances, purchases and construction loans.
Contact a Mortgage Lender for additional discounts. -
Consumer Loans - 0.25% discount on new secured loans (auto, boat, etc.), plus an additional 0.25% if payment is auto-debited from SMBT Checking Account.
-
Money Market Account and CDs - 0.25% above posted rate, excludes promotional offers.
-
Perks Checking Account - Free with payroll direct deposit. $50 minimum to open.
-
Health Savings Account - $15 setup fee waived, plus an additional 0.25% above posted rate on interest.
-
Free Wealth Management Consultation* - Comprehensive Planning, Investment Management, Trust Administration, and more!
-
Checks - Free first order of basic checks. Free Cashier Checks.
-
Safe Deposit Box - Free small safe deposit box (3x5) where available. 50% off larger boxes..
.png)
