Frequently Asked Questions (FAQ)

What are the office hours?

New Foundaton is open Monday through Thursday from 9AM until 4PM.  Friday office

hours are 9AM until 6PM and Saturday 9AM until 1PM.  Always feel free to contact

the office via phone during non business hours and we will return your call the

following day.  The office phone number is 513-729-0100.

 

What’s the difference between depositing my money in New Foundation or purchasing mutual funds?
When you purchase mutual funds the value of your initial investment can go down due to market fluctuations. Mutual Funds can be risky investments and are usually not insured. At New Foundation your deposits are insured, to at least $250,000.00, according to the FDIC regulations which made this increase permanent. 

What do I need to open an account and is it necessary for all parties to be there?
You will need valid identification preferably with a picture and your social security number. Due to recent requirements of the Privacy Act, it is necessary for all parties on the account to be present. If one of the parties is a minor it will be necessary to have a social security number for him/her.

What is an IRA (Individual Retirement Accounts)?
An IRA is an investment account which individuals fund as a way to plan for retirement and defer income tax.

Do you offer IRA’s (Individual Retirement Accounts)?
Yes, we offer both traditional and Roth IRA’s. Our IRA’s do not have service fees and we allow you, upon reaching the age of 59 1/2,to adjust your rate once a year so you can maximize your interest earnings.

Why should I have an IRA?
An IRA is an excellent tool to save for retirement. Traditional IRA’s are designed to be tax deductible and earnings are taxed only when withdrawn. Contributions to Roth IRA’s are not tax deductible but withdrawals of contributions and earnings are not subject to tax.

How do I encourage my child to save?
This is a difficult task! New Foundation makes it easier by offering a school program for grade school children. This passbook account pays a slightly higher rate so that your children can watch their savings grow.  We also have a Free Workbook/Color Book for your children....stop in today to pick one up!

Why should I look for a mortgage loan at New Foundation?
We take pride in our ability to simplify the loan process. Your loan is underwritten, processed and closed at our office. We do not sell the servicing of our loans, so you will make your payments at our office. Our experienced and knowledgeable staff are available to answer any questions you might have.

Do I have to have an escrow account for payment of my taxes and home owners insurance?
No, but we encourage you to deposit 1/12th of your taxes and insurance in an interest bearing savings account. To make it even easier, you can pay your real estate taxes at our office and we will forward them to the Treasurer’s office for you, free of charge, during certain times of the year.  Ask a CSR for more details.

Do you have a notary service?
Yes, please contact the office to be sure a notary is available.  We strive to have a notary available during business hours.

Experience The New Foundation Difference.