Safe Deposit Boxes

Safe deposit boxes at Home Federal offer convenient storage at nominal cost.

The customer may remove or add contents of the safe deposit box at any time during the regular business hours of the bank.

Each box is equipped with a double lock requiring a guard key (which is kept at the bank) and the customer’s key. No one can access a safe deposit box without both keys.

Specific locations are not listed on keys. Renters are identified prior to entry.

Cash in a safe deposit box is NOT insured by the FDIC. Home Federal Bank has no record of the amount of money kept in a customer’s safe deposit box.

You may appoint a deputy to access your box in the event of illness, vacation, disability, etc., without conveying ownership of the contents of the box. The renter must be present when the deputy is appointed and both must sign the appointment authorization. The deputy’s right of access ceases upon the death of the box holder.

The surviving co-lessee or the court appointed personal representative may continue to access the box for removal of contents. An inventory has to be completed upon the death of the last lessee or when there is no court-appointed fiduciary.

These requests will not be honored. A power of attorney must be durable and specifically grant access to the safe deposit box; a note will not be accepted. Appointment of a deputy, agent or guardian is a recommended alternative to a power of attorney.

If you lose only one key you should bring in the remaining key, close the box and rent another box. If you lose both keys, the box will be drilled in your presence at your expense.

The rent for the first year will be collected the day the box is rented. Subsequent payments will be due on the anniversary due date. Payment notices will be mailed 30 days prior to the anniversary due date.

The safe deposit box lease agreement gives the bank the right to forcibly enter the box after giving the owner written notice as required by state law. The contents will be stored at the expense of the renter. After a specified period of time, the institution may sell the contents to reimburse itself for the expenses incurred such as the delinquent rent, drilling charges, storage fees and postage.

The renter and anyone accompanying the renter into the vault area must sign a safe deposit access ticket. If the renter is accompanied by a child, the child’s name and relationship is to be entered on the access ticket. The renter must authorize all visitors.

The bank carries no insurance because it has no knowledge of the contents of the box. Renters should contact their home insurance agent for other insurance options.