By Martha B. Jacob –
In early February this year, Fayetteville-Perry Local Schools District, along with many other businesses and residents of Fayetteville were notified by NCB (National Cooperative Bank) would be closing its doors. The Wilmington bank will also be closing according to a letter sent by NCB to all of its customers.
In the letter from Debra Jones, Co-President of NCB Ohio Region, it explained that the two offices were no longer financially viable to keep open. It said that on Friday, May 18, 2018 the Fayetteville branch located at 19575 St. Rt. 68 would close.
The letter explained that the drive-thru ATM’s would remain open. All the accounts currently maintained at the Fayetteville branch will be transferred to the Hillsboro branch at 139 South High Street.
In an interview with Fayetteville Perry Local School treasurer Joanna Carraher, she said that at this point, she has met with at least two other banks in her efforts to move forward.
“In the public participation session at our recent school board meeting, Randy Carson, Fayetteville’s mayor was talking about NCB leaving and he said he was very upset about the bank leaving Fayetteville and so were a lot of other people,” Carraher said. “This is our only bank. If we need to do some banking we either have to go to Blanchester or Mt. Orab.
“I think NCB has been here since about 2004. The school has used the bank since it moved here along with the village, the trustees and a lot of our employees.”
Carraher said the school has to make a deposit every day. According to the guidelines from the auditors office, that the school has to follow, she has three days to make a deposit if it is less than $1 thousand and if it’s more than $1 thousand, she has 24 hours to deposit it.
“So we make deposits every day,” she said. “We have lunch money every day. So this is so serious for our school.
“Right now, we’re investigating what our options are. What we have here is public money, so we can’t make any rash decisions. I go to training every year and I do the investing, so I have to be very careful and look at all the different angles to see were we will get the best for our district. I’m not panicking, we still have some time.”