May 19, 2010 THE VILLADOM TIMES I • Page 17 Area Waldwick moves deposits to Atlantic Stewardship Atlantic Stewardship Bank was officially named Waldwick’s main depository of funds last week, effective June 16. The bank, which has a branch on Franklin Turnpike, was one of four financial institutions submitting proposals. “It’s good to be local again,” said the borough’s chief financial officer, Mary Ann Viviani. “They seem to be on top of things and are very cooperative, so I expect a smooth transition,” she added. Viviani said that of the four proposals, ASB’s was the only one that will provide payroll services at no charge and does not have a minimum requirement for a daily balance. She said two of the other banks required a $2 million daily balance, and the other, $1 million. “We will be keeping our money there, but we don’t have that kind of money on hand,” Viviani said. In all, 19 accounts will be placed at ASB, including the general current fund, water operating, trust, general capital, water capital, payroll and open space. Three accounts that had been at another bank are being switched to ASB, she said. The current depository, Chase Bank, abruptly notified the borough last month that it would no longer handle municipal accounts. Viviani explained that new regulations within the Government Unit Deposit Protection Act (GUDPA), the equivalent of the FDIC for government entities, have made some banks drop out of the government banking business, leaving some towns, school boards and other government entities scrambling for a replacement. Viviani said the credit card option for paying taxes and water bills would be affected as well and would be dropped. Councilman Don Sciolaro suggested looking into associations not connected to a bank which might be willing to handle the credit card service. Spring into Summer • ICQ Southern Yellow Pine • Cedar • Composite • Optional PVC or Metal Railings with a New Deck! $ ������������������������� of any Deck!!! 250 Off Free Design Service! Free Estimates! H H Remodeling Co. • 973-949-4431 See photos of our work at www.hawthornehandyman.com ���������������������������������������������������������������������������� OCEANFRONT HOUSE ������������������������� Beach Access with Private ���������������������� FOR SALE ���������� (near historic Beaufort and Parris Island). Ranch style with extended lg. deck overlooking the ocean and own beach access, screened porch, 4 BR, 2½ baths, full kitchen, great room with fireplace. 2-car garage. Fully furnished. Sleeps 8-10. In gated community featuring 2 championship golf courses, several swimming pools, racquet club, bike trails, marina and more. Call Fripp Island Real Estate; Vic Schwarzer, Agent: 843-838-2411; cell 843-597-2491 or check website: www.frippforsale.com WATERFRONT HOUSE ON FRIPP ISLAND, SC