120+ year-old bank serves Iowa communities and national fintech customers 

Reinbeck, IA (August 22, 2024) – The American Fintech Council (AFC), the premier industry association representing responsible fintech companies and innovative banks, today announced the addition of Lincoln Savings Bank (LSB) as its newest member. Founded in 1902, LSB is owned and managed by Iowans and offers full-service community banking and financial services, in addition to fintech and banking as a service offerings through its LSBX division. At AFC, LSB joins other innovative companies driving the future of financial services with customer-oriented solutions. 

“Lincoln Savings Bank is a national innovator with deep roots in Iowa communities and has the qualities that reflect AFC’s focus on financial inclusion and customer-centric services,” said Phil Goldfeder, Chief Executive Officer of AFC. “As AFC members collaborate to strengthen and improve the financial services landscape, we are excited to welcome a bank with a leading-edge banking as a service platform and over 120 years of storied experience in designing responsible innovations that meet community needs.” 

Lincoln Savings Bank grew their national footprint and launched LSBX in 2014 to empower broader, digitally connected communities by offering a wide range of services to the rapidly-growing fintech industry. LSB has focused on sustained, responsible growth throughout the transition to a diversified financial institution, staying rooted in the original mission of serving local communities.  

“Lincoln Savings Bank has always been committed to advancing the financial well-being of its customers through innovative and forward-thinking strategies,” said Sean Willett, CEO of Lincoln Savings Bank. “By joining AFC, we look forward to deepening our collaboration with other forward-thinking organizations and fintechs to ensure all responsible players are able to expand digital offerings and deliver cutting-edge financial products that drive value for all customers and communities.” 

A standards-based organization, AFC is the premier trade association representing the largest financial technology (Fintech) companies and innovative BaaS banks. AFC’s mission is to promote a transparent, inclusive, and customer-centric financial system by supporting responsible innovation in financial services and encouraging sound public policy. AFC members foster competition in consumer finance and pioneer products to better serve underserved consumer segments and geographies. 

About Lincoln Savings Bank 
We may have been founded in 1902, but we are anything but dated. Yes, we are proud of our rich history because a solid foundation only enhances our focus on the future -helping businesses grow and customers protect what they have worked so hard to build. As leaders in financial tech and supporters of our communities, our commitment to better banking is real, and it is personal. Visit MyLSB.com for more information. Member FDIC.