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May 24, 2005 - FARMINGTON, MI – Paramount Bank announced the launch of a new custom designed personal checking account, the Paramount Prime Preferred account. The Paramount Prime Preferred account was specifically developed for Paramount customers who maintain a minimum balance of $25,000 in this account. New product development, such as the Paramount Prime Preferred account, reinforce Paramount’s commitment of providing personalized high quality service designed to meet its’ customers needs.
Paramount Prime Preferred account holders will receive superior benefits including an interest bearing checking account tied to the prime rate. For example as of May 19, 2005, the rate for an account with a minimum balance of $25,000 is 2.25% annual percentage yield and for a minimum balance of $50,000, the rate is 2.75% annual percentage yield. Paramount Prime Preferred account holders can also take advantage of discounts on residential, 1st mortgage loans, on home equity loans and lines of credits, as well as preferred interest rates on CD’s, free web banking, free ATM usage and unlimited check writing.
“A growing segment of our community has become educated about the financial alternatives available in the market place. To effectively compete in the broader marketplace, we have to deliver products and services to our customers that not only compete with other banks, but also with major Wall Street firms. The Paramount Prime Preferred is an extension of our innovative approach to banking,” said Jeff Sugg, President & CEO of Paramount Bank.
Paramount Bank, founded in 1998, was established to serve the Oakland and Macomb County communities, with financial products and services that meet the needs of today’s customer. Paramount offers a full range of banking services, including commercial and residential lending and currently has two full-service branch locations in Birmingham and Farmington Hills, and loan production offices in Troy and Clinton Township.
For more information visit www.paramountbank.com or call (800) 421-BANK. Paramount Bank, “You’ve Never Seen A Bank Like This”.
For more information on Paramount Bank, please contact Christine Fisher :
cfisher@pushtwentytwo.com or call 248.335.9500x30
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