Thank You, Bank of Luxemburg Customers!

As 2011 winds down and we spend the holidays with our families, we would like to thank our extended Bank of Luxemburg family -- you, our customers.

This has been another tumultuous year for the largest U.S. financial institutions. Fortunately, Bank of Luxemburg – an independent community bank owned by local shareholders – has fared much better. That’s a testament to you and your trust and confidence in us.

In fact, Bank of Luxemburg President John Slatky has this message to share with you:

As a bank, we do well because people in Northeast Wisconsin have great ethics. When they borrow money, they pay it back. That is not true everywhere. It reflects on how we were raised. This financial moral conduct is rewarded because our customers understand the value of money and therefore will make better financial decisions.

We are fortunate to have strong relationships in all the Northeast Wisconsin communities we serve. We appreciate those relationships and look forward to working with everyone in 2012 and beyond.

All of us at Bank of Luxemburg send you and your loved ones the warmest wishes for this holiday season. Please let us know how we can serve you even better in 2012!

Holiday Tips for the Last-Minute Shopper

How’s your holiday shopping going? We know some of you go-getters already have your presents wrapped and under the tree, but most of us still have a few gifts to get.

Photo: realsimple.com

Here are some reminders as you finish up your shopping:

Make a list and set a budget: Heading to the mall without a plan is one of the surest ways to overspend during the holidays. Take a little time to figure out who needs a gift and then think about how much money would be appropriate to spend. Most stores have new sales starting every few days, so check the Sunday paper for deals. If you have a certain item in mind, you can even search online to make sure you’re getting the best price.

Beware of credit cards: Recent reports show more shoppers are using credit cards during this year’s peak holiday shopping season. Part of the draw could be the rewards and extras many credit card companies offer, but Consumer Reports reminds you to keep an eye on spending tiers, expiration dates, hidden caps and missed-payment penalties. Of course, using credit cards also means the potential of paying for your holiday purchases for months to come. That’s especially true with store credit cards, which often carry APRs of 20% and higher.

Use your debit card instead: Buying gifts with your Bank of Luxemburg Debit Mastercard will help you stay on budget because you can’t spend money you don’t have! Using the debit card is also faster, easier and safer than carrying cash or writing checks. Plus, you can use it anywhere MasterCard is accepted. Our Bank of Luxemburg debit cards do not have any fees for our customers -- NO monthly, annual or usage fees. We also offer fraud protection in case you find yourself the victim of identity theft.

Giving gift cards? This may be one of the best ways to give your loved ones the perfect present – the ability to buy what they want! Make sure this straightforward option doesn’t become complicated; read the fine print before you buy. This includes checking on fees, expiration dates and the procedures if a card is lost or stolen. Also, verify which locations will accept the gift card and what services or products the card will cover. You don’t want to spend money on a gift that can’t be used!

Buy local: What better way to spread the holiday spirit in your own neighborhood than by keeping money in the community? Bank of Luxemburg just participated in a Buy Local holiday shopping promotion in Kewaunee County, but it’s not too late to support businesses in your community! Visit Buy Local Kewaunee County to find helpful resources and business listings.

Check out our Bank of Luxemburg YouTube channel for more holiday tips from Chief Operating Officer Rebecca Edler.

Luxemburg Bancshares, Inc. Declares Dividend

Luxemburg Bancshares, Inc., parent company of Bank of Luxemburg, announced the approval of a semi-annual dividend of $.51 per share, payable on December 16, 2011, to shareholders of record as of December 5, 2011. The dividend was the same $0.51 per share paid on June 24, 2011.

The Company’s earnings as of September 30, 2011 totaled $1,465,967, which equates to annualized earnings of $1,954,623. The Book Value per share increased to $44.57, with Earnings per share of $2.83, as compared to a Book Value per share of $41.16 and Earnings per share of $2.41, as of September 30, 2010.

President John Slatky noted,

“The dividend reflects an improvement in earnings in 2011 and is an example of the solid financial position of Luxemburg Bancshares, Inc. and Bank of Luxemburg. While the Bank continues to contend with the challenging economy and the current real estate market, the Bank is profitable and expects to remain profitable.”

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.

Get Smart About Credit

How’s your credit?

If you don’t know the answer to that question, it’s time to get smart about credit. Fortunately, Bank of Luxemburg is here to help.

A great way to gain credit knowledge is to get a copy of your credit report. This shows your open lines of credit and gives you the opportunity to find out your credit score. This number helps lenders determine whether you should get certain loans, credit cards or services.

How is your credit score determined? The credit bureaus look at several factors:

• Amount of open credit you have available
• Types of credit you have
• Timeliness of your payments

Each credit-reporting agency has a slightly different version of your credit score, but these ranges will generally apply:

700 – 850: Very good or excellent
680 – 699: Good
620 – 679: Average or OK
580 – 619: Low
500 – 579: Poor
300 – 499: Bad

To improve your credit score, limit the number of credit cards you open and be aware of your open credit. It’s best to close those department store credit cards you’re not using.

The official website to get your free credit report is AnnualCreditReport.com. You also have the option to purchase your credit score when you receive your report.

Our $mart Banking page has a number of resources to help you get smart about credit. Click on Credit/Debit and you’ll be able to listen to several $mart Money podcasts. And you can always stop by your local Bank of Luxemburg with any questions.

Chief Operating Officer Rebecca Edler offers some more suggestions to get smart about credit in this video:

Financial Trick-or-Treat Tips From Bank of Luxemburg

That spooky holiday is quickly approaching! Be sure to stop by your local Bank of Luxemburg branch to pick up a free trick-or-treat bag for the kids. Inside, they’ll find coloring sheets, pumpkin carving advice, trick-or-treat safety tips, savings information for the whole family, and a sweet treat to get you in the Halloween spirit. The bags will come in handy if the little ones are planning to collect some candy!

And for the grown-ups, here are some tricks to avoid and treats to look for when it comes to your finances:

Tricks:

• Hidden fees. Some banks -- especially the larger ones – may tack on fees for online banking, getting cash at ATMs, using your debit card and more. Always ask about all fees and potential charges before you decide to open an account with a financial institution. We’ll be happy to talk to you about ways you can save money by using a Bank of Luxemburg account. 
• Identity theft. If you’re not careful, thieves can easily get access to personal information such as social security and bank account numbers. Visit our Security Information page to recognize common scams and minimize your risk.
• Offers to “fix” your credit. Negative accurate information cannot be removed from your credit history. Time and a positive payment history are the only things that will fix your credit report.

Treats:

• Local support. Local leadership gives community banks like Bank of Luxemburg the ability to respond to customer needs quickly and appropriately. Shareholders in Northeast Wisconsin own Bank of Luxemburg, so we understand what’s happening in your neighborhood. You can always call us or visit a branch location to bank with someone you know!
• An accurate budget. Knowing what you have and what you can spend provides peace of mind. This confidence empowers you to make the best financial decisions for you, your family, or your business.  Visit our $mart Banking Information page to learn how you can develop a budget. 
• Low rates. Our loan and mortgage officers are finding historically low rates for our customers who are able to reconsolidate and refinance. Give us a call to see if this could be an option for you!

We’d love to hear what financial tricks or treats you’ve experienced. Leave us a comment below!

Making Banking as Easy as 1, 2, 3!

At Bank of Luxemburg, we want you to remember that managing your money and investments doesn’t have to be difficult! As a local bank in your community, we are here to help you. That’s one reason our Chief Operating Officer, Rebecca Edler, was glad to stop by FOX 11’s Living With Amy recently for the “Easy As 1, 2, 3…” themed show.

In case you couldn’t tune in, here’s the interview segment. You’ll find more information below the video box.




Make Your Banking Easy:

1. Online Banking: Our safe, secure website allows you to check your accounts and make changes online -- on your own terms and your own time. Visit your local Bank of Luxemburg location to get started.
2. eStatements: Receiving account statements in your email allows you to balance your checkbook and manage your accounts when it’s convenient for you. That’s much easier than waiting for your paper statement in the mail!
3. Refinancing: We can’t tell you that refinancing is as simple as clicking a button. But some preparation will make saving money easier than you could imagine on mortgages, credit card debt and loans! Those preparations include checking on credit scores and getting copies of pay stubs, account statements, property tax receipts and existing mortgage paperwork. These steps will allow you and your loan officer to look at reconsolidation, which will help you take advantage of historically low rates. Putting in some effort up front will save you time and money in the long run.

Now doesn’t that sound easy?

Deflecting Debt: Credit DOs and DON’Ts

When you need to make a purchase, do you automatically reach for your credit card? If so, you seem to be in good company.

According to credit card research firm CardHub.com, Americans added $18.4 billion to their debt load in the second quarter of 2011. That’s a 66% increase from the debt accumulated during the same time period last year and 368% more than was added in 2009.

But there is some encouraging news. As a recent CNN Money article points out, “the total amount of credit card debt consumers have accumulated is still significantly lower than in previous years. Total outstanding credit card debt as of July was $792 billion, down 18% from the September 2008 peak of $972 billion, according to data from the Federal Reserve.”

To avoid adding your debt to those massive national totals, take note of these credit tips:

DO know the power of credit. You’ll need to build a good credit history to be approved for loans, secure housing and make a large purchase, like a car or house.

DO read the fine print on the credit application. Interest rates, credit limits, grace periods, annual fees, terms and conditions will be different with each card.

DO pay at least the minimum payment, but feel free to add more to pay off your balance quicker! If you’re having trouble making the minimum payment, contact your creditor to assess your options.


DO order a copy of your credit report annually. You have the right to know what is in it. Click here to get a free copy of your credit report.

DON’T feel pressure to get a credit card. You can even opt out of receiving prescreened offers by calling 1-888-5-OPTOUT or visiting OptOutPrescreen.com.

DON'T pay your bills late.  Late payments can affect your credit rating and increase your balance.

DON'T spend more than you can afford.  Credit is a loan and has to be repaid. Avoid reaching your credit limit or "maxing out" your cards.

DON'T ignore the warning signs of credit trouble.  Do you pay only the minimum balance, pay late, use cash-advances to fund daily living expenses or transfer a lot of balances? You might be in the "credit danger zone." Contact your local Bank of Luxemburg to get recommendations on area financial counseling organizations.

DON'T share your credit card number. Never give out personal information if you didn’t initiate the transaction. Be aware of identity theft and phishing scams that ask for credit card numbers. You can file a complaint with the Federal Trade Commission if you think your identity has been compromised.

Which credit card tip works best for you? Tell us in the comments or leave a tip of your own!

Source: American Bankers Association