Lumbee Guaranty Bank Rewards Customers With Revolutionary LGB Reward Checking

Pembroke, NC — Lumbee Guaranty Bank has teamed up with BancVue to bring free checking with high interest and ATM fee refunds to the Pembroke area.

“We are a community institution with great passion for our clients and their financial needs,” said Thresia Locklear, SVP of Lumbee Guaranty Bank. “With LGB Reward Checking, we can offer customers a cutting-edge account that rewards them for their commitment to Lumbee Guaranty Bank.”

LGB Reward Checking is a checking account with no monthly fees, no minimum balance and the opportunity to earn 4.50% Annual Percentage Yield (APY) and ATM fee refunds when simple criteria are met. LGB Reward Checking was developed by BancVue to support both community banks and account owners. BancVue technologies maximize bank efficiency and reduce operating expenses with a suite of online solutions. Lumbee Guaranty Bank encourages customers to participate in LGB Reward Checking, thus passing along the savings to the customer.

“When customers use free services such as online banking, emailed statements and debit cards instead of checks, this has a huge impact on our bank,” Thresia Locklear continues. “With LGB Reward Checking, we are rewarding the use of these free services and saying thank you to our customers by providing them with a superior product.”

LGB Reward Checking offers customers significant rewards:

  • 4.50% APY on account balances between one cent and $25,000. Balances over $25,000 earn 1.00% APY.
  • Unlimited refunds on ATM fees.
  • No monthly fees and no minimum balance.
  • Free online checking and free online bill pay.

LGB Reward Checking requires a few simple actions each cycle:

  • Make 10 debit card transactions.
  • Receive monthly e-Statements.
  • Set up one direct deposit or authorize one automatic payment from your account.

If the LGB Reward Checking account holder does not meet all the criteria during the cycle, he or she will still enjoy a free checking account with free internet banking and free online bill pay, but will not receive the bonus rates of interest or ATM fee refunds for that time period. However, the account holder will still earn 0.10% APY on their free checking balance. There is a $100 minimum balance to open but no minimum to maintain and absolutely no service charge for the LGB Reward Checking account. LGB Reward Checking is for personal checking accounts only.

About Lumbee Guaranty Bank

At Lumbee Guaranty Bank, we’re committed to bring you innovative products and superior customer service.  We offer a wide variety of products and services.  We have recently partnered with BancVue to develop, promote and improve our product line.  We feel that our LGB rewards Checking Account is one of the many ways of reinforcing our commitment to the communities we serve. 

About BancVue
BancVue is passionately dedicated to empowering community financial institutions to compete and win in the rapidly changing market.  BancVue’s Real Checking™ product suite provides innovative and exciting checking accounts that improve profitability, increase core deposits, and deliver new customers.  Each Real Checking product is implemented with BancVue’s Real Results turnkey solution that combines experience driven consultation, technology integration, proven marketing tactics and materials, and launch support and training that ensures each product’s success.

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NEW ORGANIZATIONAL STRUCTURE ANNOUNCED BY LUMBEE GUARANTY BANK BOARD OF DIRECTORS

Larry R. Chavis has been promoted to EXECUTIVE VICE CHAIRMAN by the Board of Directors of Lumbee Guaranty Bank.

Kyle R. Chavis has been selected by the Lumbee Guaranty Bank (LGB) Board of Directors to succeed Larry R. Chavis (no relation) as CEO. In addition, Bryan K. Maynor has been promoted to President and Chief Operating Officer of the Bank. Both men will assume their new roles immediately.

Mr. Kyle Chavis, (47), has been an employee of LGB for 18 years. His experience includes a total of 25 years in a variety of banking roles at Wachovia Bank, Triangle Bank and others. He has been serving as Executive vice President and Chief Credit Officer of LGB for the past eight years. Kyle Chavis received a Bachelor of Arts in Business Management, with a concentration in Finance from North Carolina State University in 1991, and he is currently working toward a Master’s in Business Administration at UNC Pembroke. He attended graduate banking schools at Louisiana State University and through the North Carolina Bankers Association. He and his family reside in Lumberton, NC.

Mr. Bryan Maynor (53) has a 28-year banking career, 18 of which have been with LGB, most recently as the Executive Vice President and Chief Operations Officer. He was born and reared in Pembroke, NC and received his Bachelors of Science in Industrial Relations at UNC Chapel Hill in 1986. Maynor also attended graduate banking schools at LSU and through the NCBA. He attained an Executive Masters in Business Administration from Troy University in 2007. Maynor lives in Pembroke with his family.

In making the announcement, LGB Board of Directors Chair, Arnold Locklear, acknowledged the experience, leadership and skill that Kyle Chavis and Bryan Maynor have already contributed to the Bank, stating, “These gentlemen have been involved at a senior management level over many years of change at LGB. The Board is excited to have them as our next executive team.”

Mr. Larry Chavis said, “I have teased these guys that it will take two of them to replace me, but the truth is banking has become a much more complex business since I was a young banker. I am comforted that Kyle and Bryan will be at the helm when I slow down.”

LGB is a commercial bank founded in 1971. The Bank currently serves customers in Robeson, Cumberland and Hoke Counties. The Bank has $350 million in assets and 13 branch offices. Please visit our website: http://LumbeeGuarantyBank.com



Pembroke, NC





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