Did you know that Alliance Bank is the only bank in Buffalo, Trempealeau and Pepin counties with a Trust Department?
What is a Trust Department? A trust department handles and administers funds for other persons or organizations. It may be a trust either set up in a will or during your lifetime to take care of a spouse, a child or other family member. It could be funds administered for charitable purposes. With the assistance of your attorney there are potentially many types tax saving trusts. A Bank Trust Department is charged with the responsibility of safely managing and investing the funds and using the funds as you have provided. The Trust Department is regularly examined by the FDIC and State Department of Financial Institutions. Full records are kept for you and the beneficiaries.
What are the fees? Trust fees are usually based on a percentage of the assets managed and of the income to the trust. Alliance Bank's Trust Department is here to serve our local customers so we keep our fee schedule at around half of what is normally charged by large bank trust departments. Check us out and compare costs.
If you are interested in more information about trusts, discuss it with your attorney or call us to set up an appointment.
**Please note some products may not be insured by the FDIC. Please check with our Trust Department regarding FDIC insurance.