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.

Home Equity

Home Equity Fixed Term Loan

A home equity term loan is one where you borrow against your existing home mortgage. You receive all of the funds up front when you open the loan.

Let the equity in your home work for you on home improvements, debt consolidation, vehicle purchase, medical expenses, vacation, and more. How much can you borrow? That depends on how much equity is available in your home. We look at the value of your home compared to the amount you owe on your existing mortgage to determine how much equity is available.

Benefits:

Flexible terms available
Fixed interest rate
Up to 89.9% of appraised property value

Ready to get started?

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*All Term Loan Details: Borrower pays origination $39.00, flood search $24.00 and tax service $69.00 fees. Borrower pays any additional closing costs, which may include but is not limited to, appraisal or property valuation, title search and recording fees.

Credit Approval: All accounts are subject to credit approval.

Insurance Requirement: Property Insurance is required; flood insurance required for a property located in a Special Flood Hazard Area. Late Payment: If payment is not made within 15 days of due date a $17.50 late fee is assessed.