SUMMER 2016
HIGHLIGHTS
A quarterly customer newsletter published by PremierBank
President’s Greetings…
Millennials and Banking*
Millennials were
born between
1980 and 2000. They are the largest
generation in American history. Baby
boomers no longer hold that distinction.
By 2022, millennials will make up 40%
of the work force and are set to inherit
$30 trillion over the next 30-40 years.
Millennials earn less than prior
generations and 75% carry student loan
debt with an average balance of
$29,000. This is leading to delays in
major life events. Only 26% get married
before the age of 32, 70% want to get
married, 93% of renters plan to own a
home and 74% want children. 86% put
money into savings each month and top
financial priorities are 43% pay off debt
and 38% save for the future.
Due to technology advances, banking
has seen some of the most drastic
changes in history. Remember when
telephone banking was introduced to
get your balances. That seemed like an
astronomical leap decades ago. Look at
where we are at today: direct deposit,
internet banking, bill pay, mobile
banking, debit cards, etc. 77% of
millennials say their mobile phone is
always with them. More transactions
are done electronically than by paper.
The demand of speed and convenience
is being met by the banking industry.
Many people have banking relationships and have never stepped foot in a
bank. A millennial is 3X more likely to
open an account with their phone
instead of in person.
By Roy Budlong
PremierBank has taken great strides to
keep pace with this demand. We have a
brand new website with an advanced bill
pay system. We offer mobile and tablet
banking. We continue to research new
technology as it comes out.
Thank you ALL
for banking with
PremierBank!
*Information received from American Bankers Association
2 FOR 1 ADULT ADMISSION
July 6th or 7th
Admission only. Does not include carnival rides.
Not valid with any other offer. No cash value.
Coupon may not
be duplicated.
Expires 7/7/16
THINGS TO CONSIDER
Regarding Retirement
Saving for retirement has become more and more challenging
each day. Longer life expectancies, historically low interest rates
and seemingly more volatile investment markets are the most
obvious challenges. But beyond that, here are a few more issues
to keep a close eye on during your working life to make retirement savings more plausible for you throughout the years.
1)Even with traditional “pension plans”,
those benefits can change. Your employer can’t
take away what you have already earned but benefits going
forward can be reduced. Traditional pension plans (not 401(k)
plans) have experienced declines in the portfolio at various
times in the last decade, which will require additional
contributions from the company to keep the plan at the
correct funding level. Companies might reduce or freeze
benefits for existing workers. Keep an eye on your plan so
that you can adjust your personal savings rate to
make up for any possible changes in the plan.
2)Switching jobs can affect your
retirement benefits. If you have that
traditional pension plan, don’t change
jobs without considering the
impact on your pension
benefits. Many plans have a
five-year time frame for vesting into
a benefit. The same applies to 401(k) plans
that have matching employer contributions. You may find
that staying longer at your job will significantly increase your
potential benefit.
3)Don’t forget about pension benefits from
previous employers. Many employees leave a
company without realizing they are entitled to pension
benefits down the road. Before changing jobs, check with
your employer to find out what benefits you are entitled to
so you can claim them when you retire.
4)Early retirement can
significantly reduce your
retirement benefit. Sure, it
sounds great to retire before age 65 with company
retirement benefits. But don’t just look at how much you will
receive when you retire early. Also consider what you would
you would have received if you had waited until 65 or after.
Retiring early can significantly reduce your monthly pension
benefit for several reasons: you don’t have as many years of
service, salary increases you would have earned are not
considered and those extra years of benefit cause a large
actuarial deduction in the benefit calculation.
5)Social Security benefits are changing.
Normal retirement age has gradually increased form 65 to 67
for those born after 1938. You still can receive reduced
benefits at age 62, but remember the permanent reduction
in benefits is increasing from 20% to 30%. These changes
are meant to encourage you to retire at a later date.
6)Decide carefully before
taking a lump-sum
distribution. Many traditional
pension plans allow you to roll over a
lump-sum distribution into a “rollover IRA”
with a provider of your choice. While the lump-sum
may seem like a large amount of money, make sure you
are discussing how you are going to receive income from that
large sum. Using a provider that has experience in this area is
key. And, if the situation sounds too good to be true, well it
probably is so get another opinion.
Planning for retirement is never easy, but if keep your eye
on all the possibilities it can help you create a clearer picture
of your option. At Premier, we work with many clients with
these same questions and need so call for an appointment
(920-563-6616) to see if we can help you with your
questions and need.
– Rod Ellenbecker
WHAT’S BETTER THAN A BEAN BAG, MORE EXCITING THAN BOOKS, Gift Cards are
AND SAFER TO CARRY THAN CASH? IT’S THE VISA GIFT CARD, THE IDEAL available at any
GIFT FOR ANY COLLEGE-BOUND GRAD. THE GIFT CARD IS ALSO A GREAT WAY
TO WISH SOMEONE WELL ON THEIR WEDDING DAY - OR ANY OTHER DAY!
main PremierBank
location!
Monitor Your Credit Report to
Protect Your Finances
Kids 12 years and younger – Join the
club, learn about the importance of
saving and have fun doing it!
SPECIAL
“Deposit Days”
plus enjoy
You will get DOUBLE
special treats
and prizes
stickers for your “Money
when you help
Tree” savers card when
us celebrate at
you make a deposit on
PremierBank!
the following day:
» July 2nd (Happy 4th of July)
» September 3rd
(Back to School)
Mark Your Calendars!
Do you know your current credit
score? When was the last time you
checked your credit report? Your credit
score affects many aspects of your life,
including interest rates on large
purchases, obtaining loans, renting an
apartment and even applying for a job!
Keeping a close eye on your credit report
can also help you prevent identity theft.
Here are a few important facts to keep in
mind when monitoring your credit score.
Check Frequently - For Free!
First and foremost, make sure you check
your credit report three times per year
(one for each of the three major credit
reporting agencies: Experian, TransUnion
and Equifax). You can do so for free by
visiting www.annualcreditreport.com.
This is especially important to do a few
months prior to major purchases like a
house or vehicle.
Watch for Unauthorized
Transactions
DIAMOND JO CASINO,
DUBUQUE, IA
Wednesday,
July 20th
Watch your mail for more details!
HOLIDAY TRIP –
Thursday, December 8th,
“Miracle on 34th Street” – The
Palace Theater, Wisconsin Dells
PremierBank’s V.S.P. Club boasts a membership of
850+! We would love to have you join us in this club
for PremierBank customers age 55 and better!
Second, use this check of your credit
report to protect your identity. Unauthorized accounts, loans or purchases will
damage your credit and let you know
someone has stolen your identity. This is
also important because your credit report
has information on current and previous
addresses, your social security number,
and the number of times you have
applied for credit. All of this information is
valuable to identity thieves and needs to
be checked regularly.
So what do you do if your credit report
is inaccurate? You can dispute errors on
anything from inaccurate late payments
to accounts that aren’t yours. You can
LOAN DEPARTMENT STAFF
Deb Hale,
Supervisor
Chris Heinz
Laura Bernard
Jamie Stark
Cheryl Hanen
JEFFERSON
920.674.4500
Jim van Lieshout
Susie Polk
Tom Merfeld
also dispute falsely reported bankruptcy, or a bankruptcy that has stayed
on your report for longer than the
ten-year limit. You can make the dispute
online, by mail or over the phone. To
dispute via the Internet or phone, you
must have ordered a copy of your credit
report within the past month and you
will need to provide the credit report
number. Once you have the necessary
information assembled, contact the
credit bureau associated with the
inaccurate report (Experian, TransUnion
or Equifax).
In Between Reports
Since you can only check your full credit
report every few months, monitoring
your accounts on a daily basis is a key
component to keeping your financial
data secure. Utilize free tools like online
banking, mobile alerts, and electronic
bank statements to track your accounts.
Watch for unauthorized or strange
purchases or charges, even small ones.
Sometimes, when financial information is
stolen, the criminal may make a small
purchase to see if the information is
accurate. If the small transaction goes
through with no problems, the thief goes
on a shopping spree - with your money!
If you notice unauthorized activity on
any of your financial accounts, your first
step should be to contact your bank
using the phone number on your
statement or on the back of your credit/
debit card. They will help guide you
through the process of cutting off the
compromised account and switching to
a secure one.
JOHNSON CREEK
920.699.6900
Theresa Copp
SULLIVAN
920.593.2227
Mark Catton
FORT ATKINSON
920.563.6616
Dave Bienfang
Roy Budlong
Russ Turk
Steve Schafer
Matt Lee
Brian Armstrong
MEET YOUR FRIENDS
AT PREMIERBANK
Look for this section each quarter in
Highlights and become more familiar
with your friends at PremierBank!
INTRODUCING
UPCOMING EVENTS & IMPORTANT DATES
Farmers Markets held each Thurs. night in Jefferson and each Sat. morning in Fort Atkinson!
JUNE
4-5 Free Fishing Weekend!
Fair Park
Jefferson
Rotary Park
Jefferson
Rotary Park
Jefferson
Jones Park
Fort Atkinson
Jones Park
Fort Atkinson
22 Summer Charity Concert; “Oh My Love & Trap
Saturn”– 6-9 pm
Barrie Park
Fort Atkinson
23 “Paddygrass” – 7-9 pm
Rotary Park
Jefferson
30
Rotary Park
Jefferson
Fair Park
Jefferson
Rotary Park
Jefferson
9 “Swing Crew” – 7 pm
16 “Paul Flipowicz” – 7-9 pm
Cheryl Hanen,
Customer Service
Representative for
PremierBank at
our Fort Atkinson
main bank location.
Cheryl has been with the bank 15
years. She is originally from Iowa and
earned her Bachelor of Arts degree
in Interior Design from Iowa State
University. She moved to Wisconsin
in 1987.
She currently lives in Fort Atkinson with
a golden retriever/lab, Abby.
“I have been blessed to work with many
wonderful people at PremierBank who
have become like a second family to me.”
In her spare time Cheryl enjoys spending
time and traveling with friends and
family. She loves summer and tries to
spend as much time outside as she can.
She also enjoys yoga, walking, bike
riding, boating, motorcycling, flower
gardening, reading, moves, art , architecture and pretty much anything creative.
16-19 Generals Baseball Fest
18 Fort Half Marathon & 5K
19 Happy Father’s Day!
Palmyra-Eagle Community Band – 7-9 pm
JULY
1 Happy 4th of July!
6-10 Jefferson County Fair
7
“VIVO” – 7-9 pm
13 “The Merry Horde & Expanded Waistband”– 6-9 pm Barrie Park
Fort Atkinson
14 “Main Street Big Band”– 7-9 pm
Rotary Park
Jefferson
Fair Park
Jefferson
15-16 Tomorrow’s Hope Fest
16 Jefferson Country Bicycle Club “Easy Century Ride” 2 Rivers Bicycle Fort Atkinson
20 “Jill & The Jax and The Belle Weather”– 6-9 pm
Barrie
20 VSP Club Trip to Diamond Jo Casino
Fort Atkinson
Dubuque, IA
21 “Ultimate Legends”– 7-9 pm
Rotary Park
Jefferson
28 “Steve Meisner”– 7-9 pm
Rotary Park
Jefferson
29-30 Christmas in July Sidewalk Sales
Fort Atkinson
30 Youth Triathalon
Fort Atkinson
AUGUST
4 “Whiskey Belles” – 7-9 pm
Rotary Park
6 Johnson Creek Fireman’s Festival
Jefferson
Johnson Creek
11 “Brothers Quinn”– 7-9 pm
Rotary Park
Jefferson
17 “Euphoria & Altar Boy Picnic” – 6-9 pm
Barrie Park
Fort Atkinson
18 “The Now” – 7-9 pm
Rotary Park
Jefferson
21 Tour de Fort Bike Ride
Jones Park
Fort Atkinson
25 “Shotgun Jane”– 7-9 pm
Rotary Park
Jefferson
27 Rhythm on the River
Downtown
Fort Atkinson
31 “Three Thin Dimes & Madpolecats” – 6-9 pm
Barrie Park
Fort Atkinson
Source: Partial list from Jefferson County Tourism, Fort Atkinson Chamber of Commerce and Jefferson County Fair Park
2015 PREMIERBANK DIRECTORS
David P. Bienfang
Chairman of the Board/Loan Officer,
PremierBank
Roy J. Budlong
President & CEO, PremierBank
Russ Turk
Executive Vice President/Senior
Lending Officer, PremierBank
Randall S. Knox
Retired, W.D. Hoard & Sons Co.
Robert V. Leslie
President, Fort Transportation Co.
Philip H. Jones
President & CEO, Jones Dairy Farm
HONORARY DIRECTORS
James S. Schafer
Trust Officer, PremierBank
James H. Weiss
Retired, Real Estate Development
Henry A. Fischer
Retired Bank Executive
William R. Wettstein
Consultant, AConsulting, LLC
Robert W. Niebler
Pharmacist/Owner, The Drug Store
Fred Negus, Jr.
President, Wisconsin Packaging, Co., Inc.
Member
Donley Henning
Business Consultant
Milo C. Jones
Chairman of the Board, Jones Dairy Farm
FDIC
Hometown Service
is just a click away!
bankwithpremier.com