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History

Custer Federal was founded by Broken Bow lawyer Wm. C. Schaper and opened for business on March 25, 1925 as the Broken Bow Building and Loan Association.  With the idea of affordable home loans and a safe place for saving money in mind, business was conducted from a desk in the back of the A. F. Mackey grocery store north of the railroad tracks on North 10th Avenue.  In 1927, Custer Federal moved into the front section of the present Schaper and White Law Office on South 10th Avenue.  A federal mutual charter was granted in 1934 and the operation became known as Custer Federal Savings and Loan Association of Broken Bow.

In 1965, Custer Federal remodeled what was, at the time, the Jack & Jill grocery store and conducted business in what is now the south half of its present building. In 1980, the Custer Federal Savings and Loan Association expanded into north half of the building and was fully converted into a stock federal savings and loan association by October of 1990.  In June of 2013, Custer Federal Savings and Loan transitioned to a State institution, being re-named Custer Federal State Bank and undergoing a dramatic exterior renovation which was later accompanied by an interior remodel in 2015.  2015 also took Custer Federal State Bank on an adventure into Kearney, NE where a loan production office was opened and later transitioned into a full-service branch in 2016.  With the Kearney branch fully established, Custer Federal State Bank decided to go forward with constructing a brand new Kearney branch building which opened in March of 2017.

Custer Federal is locally owned by area business people and looks forward to continuing to serve the financial needs of the fine people in central Nebraska.

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