NOTICE - ANNUAL MEETING OF MEMBERS

Notice is hereby given that the Annual Meeting of Members (the “Annual Meeting”) of Security Federal Mutual Bancorp (the “MHC”) will be held at the office of Security Federal Savings Bank located at 314 Fourth Street on Wednesday, May 15, 2024, at 1:00 p.m. Eastern Time, and at any adjournment thereof. The record date for members eligible to participate in the Annual Meeting is March 31, 2024. The purpose of the Annual Meeting is to consider and vote upon the election of Mr. Jeff Baker, Mrs. Annette Russel, and Mr. Scot Ortman as directors and such other business as may properly come before the Annual Meeting or any adjournment thereof.

Security Federal Savings Bank

New Home Construction

Are you considering buying or building a home, and can’t decide which to do? If you build your own home, your builder might offer fiancing, or you may need to secure your own new home construction loan. Security Federal offers new home construction loans.

You can apply now

Construction-To-Permanent Loan

Construction-to-permanent loans are a financing option that prospective custom home builders can apply for. Construction-to-permanent loans are one-time-close loans that fund construction and then convert into a permanent mortgage. During the 6–12-month construction phase, borrowers make interest-only payments. After the construction phase, the payment includes both principal and interest. An extension can be requested f the home is not complete. *

We also offer an optional interest rate float down at the end of the construction phase if interest rates decrease below the rate at origination. The floor rate is 4.50%.

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*The construction extension fee is $250.