Mar 26, 2021 3 min read

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The ability to make significant monthly deposits and manage interest rate risks effectively has Slovenian Savings and Loan Association in “great position,” according to Bruce R. Kurtz, the bank’s president and chief executive officer.

“How you manage those assets and liabilities is how well you do as a financial institution and how you treat customers,” Kurtz added. “We are different. We’re mutual. We are owned by depositors. We don’t have shareholders. We’ve held costs low.”

Slovenian Savings and Loan is located at 130 Boone Avenue, Strabane.

According to the company, the Slovenian name has been retained to honor its founding fathers, although all are welcome to do their banking with Slovenian Savings and Loan.

“We are very unique, with more than $500 million in assets, served by one office,” the company said. “The savings from maintaining multiple branch offices is passed on to our customers. Slovenian Savings and Loan has some of the best deposit rates, which has helped to make us one of the largest branch deposit bases in all of Pennsylvania.

“We are also one of the few banks nationwide which does not sell our mortgages. We continue to grow at double digits. We have room to expand our office to meet future growth, beyond Washington, Allegheny, and Greene Counties. Our board of trustees includes local businessmen with deep roots in the community. Both the CEO and CFO are former federal bank regulators.”

J. Michael Vighetti, vice president and chief financial officer said the biggest change over the past year in the face of the COVID-19 pandemic, is the customers’ willingness to utilize the bank’s technological offerings.

“The customers have accepted the digital products we offer,” Vighetti said. “We have some older customers who were reluctant to utilize our digital channels. They did start looking at using those products and started becoming comfortable with using them.”

The bank’s staff has extensive experience with the institution, allowing generations of customers to deal with familiar personnel.

“We pride ourselves on our customer service,” the company said. “Customer’s phone calls are always answered in person. Our extensive products are available in person and through digital offerings.

“We strongly embrace the local community, as shown by our financial support of Washington County Food Bank, Habitat for Humanity, Canon-McMillan Horizon Foundation Mac Pac, City Mission and school programs.”

Slovenian Savings and Loan additionally serves on nonprofit’s Board of Directors.

Slovenian Savings and Loan said it understands that in order for it to grow, it has to help our community grow.

The officers think the future looks promising for Slovenian Savings and

Loan Association, which has served the community since 1925.

“We’re getting a lot of money, $4 million to $5 million new deposits every month,” Kurtz said. “We’re in good shape as long as we make the right decisions.”