Trust & Investment
Services Overview

Bank of Labor has been a reliable, locally-owned bank since 1924. We’re proud to be the trusted financial partner of generations of families and local businesses.

The expertise of our Trust Officers is an important reason behind many of those partnerships. Their deep understanding of Trust and Wealth Management services has helped countless clients over the past century. And they are ready to help you through the next century.

Trust Services

Bank of Labor Trust Officers have the experience and know-how to assist you with managing strategic estate plans and wealth transfer solutions. We’ve been helping families and businesses protect assets and manage investments for decades. We can put that knowledge to work for you, too.

Custodial Accounts

With a custodial account, you control your own investment decisions without getting bogged down in the administrative details. Bank of Labor offers custodial account services with many convenient benefits.

  • Protect your securities against physical loss, theft, fire, or neglect
  • Maintain detailed, up-to-date records
  • Purchase and sell securities according to your wishes
  • Provide detailed account statements for all trades and transactions
  • Protect against loss with two-pronged audits by internal auditors and government agencies

Personal Trust Services

Personal Trust Services can control how assets are distributed, reduce taxes, transfer costs and protect your financial legacy. Bank of Labor can work with you to establish and maintain the type of trust that best meets your needs. We offer online viewing of your Trust account’s assets and transactions.

  • Living Trusts
  • Testamentary Trusts
  • Charitable Trusts
  • Irrevocable Trusts

Conservatorships

A conservator is appointed by a court to manage the assets of a minor or a person deemed incompetent by the court. Bank of Labor can act as a conservator, providing a friendly, personal element to professional investment management and administrative services.

  • Prepare detailed annual and periodic statements for court accounting
  • Protect and safeguard securities
  • Distribute assets or pay bills, as authorized by the court
  • Collect investment income
  • Arrange for annual tax returns to be prepared and filed

Estate Settlement

In times of grief and transition, it is critical to have a trusted partner who can handle estate affairs. At Bank of Labor, our trust officers are experienced in estate settlement matters, including probate procedures, federal and state tax laws, accounting principals and investment management. We can serve as the executor of your estate and settle your affairs as directed by your Last Will and Testament.

  • Handle all administrative duties related to the estate
  • Secure personal property and real estate and prepare a detailed inventory of assets
  • Manage assets, pay claims against the estate and distribute assets to heirs
  • Arrange for various applicable tax returns to be prepared and filed

Investment Services

Your financial goals serve as a ‘compass’ that helps determine the guidance we provide when selecting investment options that best match those objectives. Rest assured, your plan will be completely customized, balancing your needs, risk-tolerance and long-term objectives.

Investment Management

  • Disciplined approach to asset allocation
  • Tax-advantaged investment options when appropriate
  • Solid risk management methods

Bonds

Bank of Labor offers institutional investors access to a full range of high-quality, tax free and taxable fixed income investments. These include U.S. treasury and agency obligations, asset-backed securities, and corporate and municipal bonds.

  • Predictable income stream
  • Allows more diversification in portfolio
  • Offers more principal protection 

Equities

At Bank of Labor, we take two different approaches to equity management. We can take a fully-managed approach, where we have complete discretion and manage the equity assets according to your objectives. Using this model, we will meet with you regularly to review investment performance and make necessary adjustments. Alternatively, you can stay in control of all final buy and sell decisions. We act as an advisor and make investment recommendations.

  • Fully managed approach or advisory relationship
  • Expert advice and support
  • Personal investment performance reviews 

Mutual Funds

We enjoy helping our clients understand different investment options. Bank of Labor offers dozens of rigorously screened, high quality mutual funds. We will analyze your situation and strive for the best return possible based on your investment objectives.

  • Stock funds
  • International funds
  • Government funds
  • Asset allocation funds
  • Bond funds
  • Real Estate funds

Retirement Plans

Bank of Labor offers a range of tax-deferred retirement accounts to help you meet your long-term savings goals. We offer several types of IRA accounts and our advisors will take the time to discuss these options before recommending any specific program.

  • Traditional IRA, Roth IRA, Transfers and Rollover IRAs
  • Simplified Employee Pension (SEP)
  • Defined Contribution Plans
  • Defined Benefit Plans