Bank of Luxemburg Announces Retirements and Appointments to Board of Directors

Luxemburg, Wis. (June 28, 2012) – Bank of Luxemburg, an independent community bank in Northeast Wisconsin, announces the retirements of Thomas J. Rueckl and Donald Pritzl as members of the Board of Directors of Bank of Luxemburg.  Rueckl was a member of the Board of Directors for the Bank since 1985 and previously held the position as Chairman of the Board.  Pritzl was a member of the Board of Directors since 1992 and recently held the position of Vice Chairman of the Board.  During the terms both served as directors, the Bank expanded into new markets and remained a strong financial institution serving the shareholders of the Bank.

Raymond Balza was appointed Chairman of the Board for Bank of Luxemburg on June 12, 2012.  Balza, a graduate of the University of Wisconsin-Green Bay, has been a director at the Bank since 2003 and is currently the Assistant Controller for America’s Service Line, LLC in Green Bay, WI.  Balza brings years of experience to the board with a strong background in accounting and financial reporting.  He is a devoted supporter of the local community and has been involved with the growth and prosperity of the Bank.

President John Slatky noted, “The Bank of Luxemburg continues to grow and prosper because of the knowledge and dedication of our Board of Directors.  Mr. Rueckl and Mr. Pritzl will be missed, however, prior to leaving they insured that the Bank had competent individuals, like Mr. Balza, to assume their duties.  On behalf of the shareholders, employees and community we would like to thank them for their commitment and congratulate Mr. Balza on his election as the new Chairman of the Board of Directors.”

About Bank of Luxemburg:

Started in 1903, Bank of Luxemburg now serves customers at eight Northeast Wisconsin locations.  As an independent community bank, Bank of Luxemburg is owned by local stockholders.  More information can be found at bankofluxemburg.com.

Luxemburg Bancshares, Inc. and Bank of Luxemburg have banking offices in Luxemburg, Green Bay, Forestville, Dyckesville, Casco and Algoma.  The company also operates Raymond James Financial Services, offering financial planning and the sale of alternative investments to its customers in each community.  For more information about Luxemburg Bancshares, Inc. contact John Slatky at 1-920-845-2345.

How to Handle Finances When You are Getting Married.

Getting married is a big step in anyone’s life. Finances are a major issue that a couple needs to address even before their big day. Since money is one of the top issues that cause disagreements within a marriage, it’s best to work out all your financial issues as soon as possible.

Before you say “I do”:

• Have a frank discussion about money. Be up front about all income and debt and discuss your spending styles and habits.
•  Decide if you are going to pool your finances, keep them separate or find a middle ground. No one method works for every couple.
• Decide who will be responsible for paying bills and managing finances—or divvy up the responsibility.
• Talk about a spending limit—a “safe” amount one of you is free to spend without consulting the other.

After you are married:

• Don’t forget to change your name on accounts and credit cards and update your social security card. 
• If you both have existing loans, look at interest rates and consider consolidating them.
• Make sure your health, property, life, automobile, casualty, and other types of insurance are set up properly and that insurance companies have been made aware of your change in marital status.
• Change the beneficiaries on your insurance policies, bank accounts, retirement plans and investment accounts. (For some types of accounts spouses automatically become beneficiaries unless they waive that right.)

Spending a little time communicating about money early in your relationship—as well as on an ongoing basis—can help ensure a happier financial future for you both!

Bank of Luxemburg Chief Operating Officer Rebecca Edler provides tips for managing your finances before and after getting married on Fox 11's Living with Amy. 

Bank of Luxemburg Supports Local Communities by Awarding Scholarships to Six Area Students

Luxemburg, WI, June 14, 2012—Bank of Luxemburg presented six students with $4,000 scholarships each to be used for furthering their education. Eligible student applicants were selected by a Bank of Luxemburg appointed committee based on specific criteria: academic requirements, extracurricular activities, community and/or religious involvement, and references. The following 2012 applicants received scholarships:

·      Lindsay Kirchman, Algoma High School, Attending UW-Eau Claire, Major: Undecided

·      Katherine Bretl, Southern Door High School, Attending Massachusetts Institute of Technology, Major: Biomedical Engineering

·      Brandon Wiley, Kewaunee High School, Attending UW-Madison, Major: Bio-Engineering

·      Kelli Rollin, Luxemburg Casco High School, Attending University of Nebraska-Lincoln, Major: Journalism

·      Lauren Destiche, Luxemburg Casco High School, Attending UW-River Falls, Major: Pre-Vet/Animal Science

·      Anna Pearson, Luxemburg Casco High School, Attending Bethel University, Major: Education or Social Work

Bank of Luxemburg awards academic scholarships to children and grandchildren of Bank of Luxemburg customers within the following schools: Luxemburg Casco High School, Algoma High School, Southern Door High School, Kewaunee High School, and Green Bay High Schools. Since beginning the program ten years ago, Bank of Luxemburg has contributed a total of $183,000 to deserving and accomplished students.

Bank of Luxemburg is an independent community bank, owned by local shareholders, existing to serve the needs of the communities in which it is located. Bank of Luxemburg has banking offices in Luxemburg, Green Bay, Forestville, Dyckesville, Casco and Algoma. For more information about Bank of Luxemburg Scholarship Program contact Denise Kinjerski at 1-920-845-2345.

Start Saving for the Holidays Now

It’s summer! Why talk about holiday accounts now? You might be surprised at how many great reasons there are! 

Timing: Chances are if you wait until November or December to start thinking about holiday spending, you won’t have enough time to save the money. Start saving now!

Budgeting: At this point, you’ve probably adjusted to your 2012 budget and therefore have a better idea of how much money to put aside each month or each pay period. Sectioning off this amount of savings for the holidays now, ensures that you have enough money come December. 

Allocating: Why can’t you just keep extra money in your savings account for holiday spending? It happens all too often … because you have some extra money set aside in your savings account, that shiny new summer toy looks all the more affordable. Or, when one of your household items is in need of repair or replacement, that money you had sectioned off for holiday spending now seems like your “emergency fund.” By having money set aside in a specific Holiday Savings Account, you’re avoiding the temptation to use the money on other items.

You can stop in to any Bank of Luxemburg office at your convenience and open up your Holiday Savings Account quickly and easily. You are in control of where the funds will be coming from and how often they will be added to your Holiday Savings Account. Withdrawal periods start October first, giving you the ease of shopping early during the holidays. Flexibility and customer convenience are two important attributes of Bank of Luxemburg’s Holiday Savings Accounts.  

           

We may not hear sleigh bells in the distance or see snow on the ground—thank goodness—but that doesn’t mean we can’t plan ahead for the most wonderful time of the year … and enjoy the holidays that much more for doing so.

Click here to learn more about holiday accounts from Bank of Luxemburg Chief Operating Officer Rebecca Edler.