Managing your money is one of the most important areas in life to simplify and
streamline. Here are nine ways to get the job done and keep it done. 1. Use
Direct ...
Spring / Summer 2013
Nine Ways To Simplify Your Financial Life o Use Direct Deposit o Automate Recurring Bill Payments
o
1. Use Direct Deposit
o Put Saving on
Place your monthly income directly into your bank account. Direct deposit is safer, easier and more convenient than receiving a paper check by mail, and you can access your funds more quickly.
“Autopilot”
o Consider
2. Automate Recurring Bill Payments
Consolidating Accounts
o Research Automatted en
Money-Managem Tools
al Update Your Leg Documents
o Get Your Paperwork Under Control
o
Have you noticed how clutter creeps up, needing to be discarded? (Who needs that stress?) Think how often you have said, “I have to get this organized better!” Are you someone who likes to streamline how you do things? Managing your money is one of the most important areas in life to simplify and streamline. Here are nine ways to get the job done and keep it done.
xplore Online or E Mobile Banking
o
(and reduce the stress of disorganization)
Prevent Disaster from Catching You Off Guard
Many businesses offer automatic withdrawal from a personal checking account or a credit card charge to pay recurring bills. Your life will be easier if you record these transactions in your check register promptly and pay your credit card balance in full by the due date to avoid interest charges. With online bill pay you can easily set up recurring payments or select which creditors to pay in a matter of minutes.
3. Explore Online or Mobile Banking This service provides you the means to review deposits and withdrawals, track your balance, and move funds between accounts at your convenience. You can even set up your accounts for eStatements to provide yourself more timely electronic statements.
4. Put Savings on “Autopilot” You can arrange to transfer a certain amount into savings accounts or investments automatically on a regular schedule. Making investments regularly can result in a higher return over time.
5. Consider Consolidating Accounts Review how many different deposit, savings and credit card accounts you have. You may be able to simplify your finances and reduce mail and paperwork, too. Also, consolidating accounts can make it easier to monitor your entire portfolio to ensure your money is properly diversified. If you are the target of fraud, consolidation makes tracking the source easier, too. When consolidating accounts, be certain to double check your depository accounts for full coverage by the FDIC’s $250,000 insurance limit. To do so, you may visit www.fdic.gov or stop at the bank to speak with a Customer Service Representative. continued on next page
You Can Bank On It Hopefully, many of you came to the bank during the last week of March to wish Dean Olson a happy retirement before he officially retired at the end of the month. His banking career has spanned approximately 40 years. Not surprisingly, he has left an indelible mark on Charter Bank. Dean started at the bank in 1987 and took over as president in 1991. During his time at Charter Bank our assets have grown from $20 million to $575 million. We are now one of the largest banks in western Wisconsin. Much of this success is due to Dean’s leadership. He retires at a time when Charter Bank is one of the highest performing banks in the state. Dean has been a great supporter of the Eau Claire community, too. He has tirelessly served on many boards, including the Chippewa Valley Free Clinic, the Eau Claire Community Foundation, and the United Way, to name just a few. He has been a great role model over the years and an inspiration to all of his employees.
Dean Retires for New “Career” as Sportsman (and Full-Time Dad) After over 25 years, we bid a reluctant but fond farewell to Dean Olson who has hung up his hat. Knowing Dean as a mentor, leader, and all around good guy, we will miss him daily at the bank. He will remain a member of our Board of Directors. Dean receiving He will surely be fishing (to add to his a congratulatio ns gift when celeb large collection of stories), golfing (more rating his 25th anniversary at Ch arter Bank stories), and of course, he and Sue will last year. be visiting their daughters!
Happy Retirement Jane! After years of service, helping our brokerage customers, Jane Honadel has retired. We wish her the best of luck!
We are sad to see Dean hang it up, but we are excited for him and his wife, Sue, as they begin a new adventure. We know there will be lots of fishing and golfing and time spent with his family. From all of us at Charter Bank, Dean, we wish you the very best that retirement has to offer, and we thank you again for all of your excellent work.
Paul Kohler
Paul Kohler, President
WELCOME! We welcome the new members of our Business Advisory Board. They offer their expertise at meetings and act as our ambassadors in our community.
L to R: Jerry Jehn, Dave Schafer, Sara Vinopal, Mike Keil, Ryan Buesser,Joel Ruppert, Nicholas Mohr. Not pictured: Damien Hoernke.
Nine Ways–continued from page 1
6. R esearch Automated Money-Management Tools
8. Get Your Paperwork Under Control!
There are software programs that can give you a snapshot
Even if you rely on technology, it is difficult to be completely “paperless.” Start with a central filing system at home for all your financial records and select one place for gathering your bills in hard copy.
of all your account information in one place. These programs also can help you organize your finances, review how you spend your money, and spot potential fraud or theft by providing a regular summary of account balances. Be certain to research and choose known and trusted organizations when seeking proven software to manage your accounts.
7. Update Your Legal Documents Ensure your legal documents are all updated, including the full range of bank statements, pension records, wills and more. As part of this review process, also be certain to review your beneficiaries listed on life insurance policies and retirement accounts.
9. Prevent Disaster From Catching You Off Guard If an emergency occurs and you have only a few moments (or even days or weeks) to evacuate your home, would you have access to cash, banking services, and the personal identification you need to conduct your day-to-day financial life? One strategy is to store copies of important documents, such as insurance cards and credit card information. Originals should be placed in a safe deposit box, and you can then place copies in electronic form on a secure website you can access from anywhere. The bottom line is that by devoting a short time regularly to organizing and simplifying your financial life, you can save many hours and perhaps significant amounts of money. Source: FDIC
How to Detect Counterfeit Currency 3 Border
4 Serial Numbers
1 Portrait
2 Federal Reserve and Treasury Seals
4. Serial Numbers: Genuine serial numbers have a distinctive style and are evenly spaced and also printed in the same color ink as the Treasury Seal. Counterfeit notes may have a different shade of ink and numbers may not appear uniformly spaced or aligned. 5. Paper: Genuine currency paper has tiny red and blue fibers embedded throughout the note. Often counterfeiters try to simulate these fibers by printing tiny red and blue lines on the paper. Close inspection typically reveals that the lines are printed instead of embedded in the paper.
5 Paper
6 Watermark
Counterfeit currency is not just the stuff of crime novels and movies. It is still “out there,” even in the Chippewa Valley. As a bank, we are always on our toes to spot potential counterfeit currency. As a consumer, you may not have it at the top of your mind, but it can be anywhere at any time. There is no single, best way to identify counterfeit currency, but these guidelines may help you recognize some of the more common features of counterfeit notes. 1. Portrait: The portrait on a genuine note appears lifelike and stands out distinctly
7 Printing
from the background. A counterfeit portrait is usually lifeless and flat, or may seem unnaturally white. 2. Federal Reserve and Treasury Seals: On a genuine note, the saw-tooth points of the Federal Reserve and Treasury seals are clear, distinct, and sharp. Counterfeits may have uneven, blunt, or broken points. 3. Border: The fine lines in the border of a genuine note are clear and unbroken. On a counterfeit, the lines in the outer margin and scrollwork may be blurred and indistinct.
6. Watermark: Beginning with the 1996 series, each denomination bears a watermark depicting the same historical figure as the portrait, positioned to the right of the portrait. 7. Printing: Counterfeit notes may show toner particles on the note that can be seen clearly under magnification. If ink-jet computer printers are used, the counterfeit image may not appear as sharp as a genuine note. With these key points in mind, you can help spot counterfeit bills and get the fraudulent money out of circulation. If you have or notice a counterfeit note, contact the local police department or United States Secret Service field office. For more information, contact www.secretservice.gov. Source: Federal Reserve Banks
Meet Your Money Managers Charter Bank is pleased to announce the promotion of Lynda LaCasse to Assistant Vice President/Credit Officer. Lynda joined the bank in August of 2003, and manages the credit department. Her duties include financial analysis, overseeing the preparation of loan requests and reviews, and various other financial reporting tasks. A graduate of Cardinal Stritch University, she resides with her husband and three children in Chippewa Falls where she is “a little bit” of a hockey mom.
Joscelyn Baker-Hoy began working at Charter Bank this past January as a part-time teller. An Eau Claire native and Memorial High graduate, Joscelyn is currently completing her freshman year at UW Eau Claire. She loves travel and being outdoors. Her dog Daisy (in fact, animals in general) is her passion. Joscelyn’s hobbies include recreational sports, such as soccer and basketball, and of course, shopping!
Shari Ederer joined Charter Bank in March as Brokerage Assistant. A native of Stanley, Shari attended UW Stout and earned a bachelor’s degree in Business Administration/Accounting. She lived and worked in the St. Paul area for many years before moving to Eau Claire 12 years ago with her husband, Dave, and two boys, Sam (15) and Jake (13). Prior to starting at Charter Bank, Shari was worked as an assistant for a local financial advisor and as a finance clerk for a local church. In their spare time Shari and her family love to camp, canoe and kayak. She also enjoys archery, reading and cooking, especially trying out new recipes!
Meeting Change with Sound Strategy Your Retirement Planning Options Presented by Kent Martinson Prepared by Marketing Library.Net Inc.
If you wish you had more money these days, you are not alone. Many retirees find that their income streams are insufficient. Interest rates are right now at rock bottom, and it appears they may stay there for the near future. With the federal funds rate near zero percent, some of the classic conservative retirement investments, such as money market funds and CD’s, are not earning returns to keep pace with two-three percent inflation.1,2
Finding the Middle Ground Growth investing is important even when you are retired. It makes sense to be conservative with your hard-earned retirement money, but the dilemma is that you can be too conservative when investing it. Some retirees adopt an extremely risk-averse investment approach. A trade-off comes with that decision: if your goal is to minimize risk, you may also risk minimizing your portfolio returns. (If you owned a longer-term CD when the recession began in December, 2007, the income from that CD has dropped by twothirds since then. 1 ) The goal is to find the middle ground , that is, a level of risk that you can assume comfortably in pursuit of a return that translates to a better income stream.
Look Before You Leap While some retirees would like to bail out of equity investing, that may pose a risk, since growth investing, the kind of investing you may have used to build your retirement savings, may be useful. Many people in their 50’s, 60’s and even 70’s are still in the accumulation phase, that is, they still need to build up their retirement fund even as they need to withdraw income from it. As stocks and funds may provide attractive returns, they are an investment option that should be discussed with your advisor.
Remember the “Rule of 72”. You may have heard of this financial rule of thumb, often used to project inflation. At four percent inflation, the cost of living will double in 18 years. At eight percent inflation it will double in nine years, and so forth, that is, whatever is a multiplier of 72. Inflation is about three percent right now, but there is no guarantee it will stay there for the balance of your retirement.
Keeping Pace Your retirement income must keep pace with an inflationary advance. If it does not, you will be left with less and less purchasing power as the years proceed. Imagine trying to live today on the amount of income you earned 15 or 20 years ago. Factor in medical costs and life’s little emergencies, and the message is clear – you need more income for the future, not the same or less. But what should you do? The classic bearish move is to shift money from stocks into bonds. But bonds are not providing great yields today, and their value will fall when interest rates eventually start to rise. There are other investments that are likely worth considering.
Other Choices Worth Considering •R eal estate investment trusts (REITs) allow you to enter the commercial real estate sector without the hassles of property management. They give you a fractional ownership share of a major league real estate portfolio with potential for dividend payments and excellent returns. Private REITs are not publicly traded. •D ividend stocks stood out during the recession as investors turned to them for cash flow. Commonly, they are issued by established corporations in essential industries. •U tilities. Investors often look to the utilities sector for a hedge since utilities stocks have the potential for decent dividends in good and bad market climates. •C urrencies. When the dollar is weak, funds invested in foreign currencies get a boost since most funds out there are dollardenominated.3
I am Prepared to Assist You Ask me about your options. I have experience helping retirees assess and revise their portfolios with the goal of rebuilding and/or growing their incomes and savings. Each investor’s portfolio must be constructed based upon the individual’s financial resources, risk tolerances, investment goals, time horizon, tax situation, and other relevant factors. Call or email me today with your questions or to arrange a time to meet to discuss your personalized investment strategy. What you learn might provide you more confidence about your financial future. Kent Martinson may be reached at 715-831-2193 or
[email protected]. This material was prepared by MarketingLibrary.Net Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. Marketing Library.Net Inc. is not affiliated with any broker or brokerage firm that may be providing this information to you. All information is believed to be from reliable sources; however we make no representation as to its completeness or accuracy. Please note investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is not a solicitation or a recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment. Securities, insurance products and advisory services offered through Cetera Investment Services LLC, member FINRA/ SIPC. Investments are: * Not FDIC/NCUSIF insured *May lose value *Not financial institution guaranteed *Not a deposit * Not insured by any federal government agency. Cetera is under separate ownership from any other named entity. Advisory services may only be offered by Investment Adviser Representatives in connection with an appropriate Advisory Service Agreement and disclosure brochure as provided. Citations: 1. www.chicagotribune.com/business/sns-201203141400 --tms--retiresmctnrs-a20120314ar14,0,1100086.story [3/14/12] Note: Bank certificates of deposit are FDIC insured up to applicable limits and offer a fixed rate of return. The yield and principal of the securities discussed in this article will fluctuate with market conditions. 2. www.forbes.com/sites/investor/2012/03/13/what-to-doabout-low-interest-rates/ [3/5/12] 3. International investing involves a greater degree of risk and increased volatility. Changes in currency exchange rates, differences in accounting and taxation policies and political and economic instability can raise or lower returns
Now You Can Charter Bank Anytime. Anywhere. View accounts and transactions Make transfers between Charter Bank accounts Pay Bills with a few clicks View account alerts Charter Bank Mobile Banking App is available for Android (TM) and iPhone (R) users.
Please visit www.charterbank.com/mobilebanking for full details.
Pencil Us In Monday, May 27: Memorial Day The bank will be closed. “It doesn’t take a hero to order men into battle. It takes a hero to be one of those men who goes into battle.” – General Norman Schwarzkopf Monday-Friday, June 17 – 21 Charter Bank’s Annual Customer Appreciation Week You can forget the cold and snow at our annual celebration of our customers. Complimentary flowers to add to your garden, a tasty picnic lunch and surprises, too. Don’t miss our popular annual “Shredding Day,” Thursday, June 20! Please accept our invitation to our “summer opener” with your friends at Charter Bank! Sunday, June 16: Father’s Day Fatherhood: the hardest work and the greatest joy a man will ever know! Wednesday, June 21: Summer begins All bad memories (and back aches) aside, we will NOT be shoveling snow today! Thursday, July 4: Independence Day The bank will be closed. “History does not long entrust the care of freedom to the weak or the blind.” – Dwight D. Eisenhower
Safe Mobile Banking
Using a smartphone, “tablet” computer or other mobile device to manage your finances can be convenient and help you monitor your money from practically anywhere. But, it is still important to take steps to protect your account information. Be proactive in securing the mobile device itself. Depending upon what security options are available on your device, create a “strong” password to secure your device, consisting of unusual combinations of upper- and lower-case letters, numbers and symbols. Alternatively, you may use a PIN with random numbers. Avoid using 1234 or the last four digits of your Social Security number, and change the password periodically. Be careful about where and how you conduct transactions. Never use an unsecured Wi-Fi network, such as those found at coffee shops! Fraud artists might be able to access the information you are transmitting or viewing. Also, never send account numbers or other sensitive information through regular e-mails or text messages because those paths are not necessarily secure. Take additional precautions in case your device is lost or stolen. Check with your wireless provider in advance to find out about features that enable you to erase content remotely or turn off access to your device or account if you lose your phone. Quickly contact your financial services providers to let them know about the loss or theft of your device. Notifying your bank quickly will help prevent or resolve problems with unauthorized transactions.
Monday, September 2: Labor Day The bank will be closed. “Far and away the best prize that life has to offer is the chance to work hard at work worth doing.” – Theodore Roosevelt Tuesday, September 11: Patriot Day “A love for tradition has never weakened a nation. Indeed it has strengthened nations in their hour of peril. ” – Winston Churchill Thursday, September 5: Rosh Hashanah begins Sunday, September 22: Autumn begins Go ahead! Be a big kid! Jump in that pile of leaves!
Give Us a Call…Anytime! Main Floor Reception . . . . . . . . . . . (715) 832-4254 Main Floor FAX . . . . . . . . . . . . . . . (715) 831-2198 Deposit Operations FAX . . . . . . . . . (715) 831-2199 Loan Department FAX . . . . . . . . . . (715) 830-5146 Telephone Banking . . . . . . . . . . . . . (715) 832-6299 or TOLL-FREE . . . . . . . . . . . . . . . . 1-(800) 471-4510 Loan Department . . . . . . . . . . . . . . . . . . . 831-2188 Deposit Operations . . . . . . . . . . . . . . . . . 831-2192 New Accounts . . . . . . . . . . . . . . . . . . . . . 831-2189
Be on guard against unsolicited e-mails or text messages appearing to link to a financial institution’s web site. These could be “phishing” messages containing some sort of urgent request, such as a warning that you need to “verify” your bank account or other personal information, or an” amazing offer” (“too good to be true”) designed to lead you to a fake web site controlled by thieves.
Tellers . . . . . . . . . . . . . . . . . . . . . . . . . . . 831-2191
With these tips, you can be more confident using your mobile device securely and safely for mobile banking, or any other transactions you conduct on your phone. Contact us if you have any questions.
Bank Address: 1010 West Clairemont Avenue P.O. Box 1146 Eau Claire, WI 54702-1146
www.charterbankec.com
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1010 W. Clairemont Ave. Eau Claire, WI 54701 715-832-4254 • www.charterbankec.com
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DRIVE-UP
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Charter Bank Recognized at United Way Gold Awards As a Pacesetter company and general supporter of United Way, Charter Bank was recognized at the United Way annual Gold Awards. For the 2012 campaign, Charter Bank received the Business Best 25 Award as one of the top fundraisers in the Chippewa Valley, the Community Builder Award for corporate and employee contributions of $25,000+, the Outstanding Employee Engagement Award for achieving 100 percent employee participation, and the Pinnacle Award for achieving an average of $100 or more for gifts by companies with five or more donors. Charter Bank’s Dustin Hurtgen also received recognition for completing United Way’s LINC training, providing him with ample skills to serve on boards of directors of local nonprofit organizations.
Young Talent Shines at Our Annual Art Show Over 80 local high School students participated in this year’s ChARTer Exhibit. The bank held a welcome reception for the students, parents and teachers before the art show officially opened. This twoweek show offered the public the chance to view the wonderful talents of local students. Charter Bank’s Paul Kohler and his wife Karen admired a painting by their daughter, Sara.
Charter Bank Staff Spells Out “Success” at Scrabble Bee Late April’s Scrabble Bee, the major annual fundraiser for Literacy Volunteers of the Chippewa Valley, witnessed Charter Bank staff showing they are as good with letters as with numbers. Their effort added up to success! Back row: Kim Showsh, Sheila Stabe Front row: Jeff Biegel, Patti Zanko, Kathy Zehr
