Security Federal Savings Bank begins construction in Zionsville


Logansport-based Security Federal Savings Bank recently began construction of a Zionsville branch at 10880 N. Michigan Rd. The location will be the first full-service branch for the company in the Indianapolis area, according to the banking company.

A groundbreaking event was conducted on Aug. 23, and construction began Sept. 21.

“What led us to (our new) location was our existing footprint,” CEO and President of Security Federal Savings Bank Annette Russell said. “It was a natural progression for us to come to the northside of Indianapolis. We see the commute patterns, existing customer migration and the economy and housing developments.”

Russell said the bank got its start in mortgage lending. She said the bank is a traditional community bank owned by the deposit holders rather than stockholders.

Security Federal opened a loan production office at 12 W. Main St. in Carmel last year. The company also has two branches in Kokomo and one each in Logansport, Delphi, Lafayette and West Lafayette.

“(Our Carmel location) is strictly a home base for our lenders that spend the majority of their time out in the community, but it serves as a location for us to meet with clients 1-on-1,” Russell said. “We are leasing that location and will determine (if we will keep the location) when the lease expires.”

According to KJG Architecture, the company that designed the new location, the main and third floors of the branch are designed to include a full-service bank branch, community room and spaces for public and private use and direct access to the rooftop patio for outside functions. The second floor will have potential leasing opportunities for future tenants.

“We have built (the Zionsville) location to provide community space, but this is an entirely different look and feel with the ability to have an outdoor venue for holding meetings or other events,” Russell said. “(It will also) incorporate additional space for leasing to interested parties. We elevated it to three levels to ensure that as the bank continues to grow, and we recruit new employees, we have the adequate space and accommodations for them.”

Russell said she looks forward to the opportunities the new location will provide, including new community partnerships.

“All of the development occurring between Logansport and Indianapolis is so exciting because it provides value to us as a financial institution, and we can provide value to those economies by lending them the money they need to build,” Russell said.

For more, visit