The Benefits of Online Banking

Don’t let technology scare you. Technology can actually simplify your life when you learn to embrace it.

Online Banking

One of the greatest things technology has brought us is online banking. For all Bank of Luxemburg customers, online banking is absolutely free! And, it’s easier than you might realize!  Grab a computer, tablet, or smart phone and start reaping the benefits. You can…

1.  View your recent transactions

2.  Check your balance whenever, wherever you want

3.  Transfer funds

4.  View images of checks you’ve written

5.  Put a stop payment on checks written

6.  Send email messages to the bank with any questions

7.  Make your loan payment

We’re talking 24 hours a day/7 day a week access, too! (Even weekends & holidays!) The most exciting benefit of online banking for some people is the ability to pay bills online with Bank of Luxemburg’s bill pay services.

Bill Pay Services                       

Paying bills online is a huge time saver and also incredibly easy to set up with Bank of Luxemburg’s online banking system. You have many options and benefits when it comes to paying your bills…

1.  Make reoccurring monthly payments to anyone or any business

2.  Schedule a one-time-only payment to anyone or any business

3.  Schedule payments just for when you’re out of town

4.  View payment history and future scheduled payments

5.  Acquire virtually no late fees on bills

6.  Set up a reminder calendar

7.  Lessen your costs on paper checks and stamps

If you already have a Bank of Luxemburg checking and savings account (or have Premier Checking alone), you’re already eligible for FREE Bill Pay services. If you just want to test it out and have a different type of account than those listed above, good news! You get the first three months for free, and after that, it’s only $5 per month anyway (limited to ten transactions, with a fee of $35 after that).

eStatements                                   

Getting a paper statement in the mail is fine, but think about this…by the time the statement reaches your mailbox, you open it, and finally sit down to review it, many other transactions have probably occurred. (Also, think about all the paper that’s being used month after month.) Instead, think about signing up for eStatements which arrive as an email notification, and you are up-to-date instantly. Here are some other great benefits…

 

1.  eStatements are safe and secure.

2.  An email notifies you when your eStatement is ready.

3.  You simply log in through Bank of Luxemburg’s online banking section.

4.  You can view the last 18 months of account statements.

5.  How nice to view and balance your statement online 24/7?

And if you didn’t already guess, eStatements are absolutely FREE for Bank of Luxemburg customers!           

Technology is ever-changing, but it’s not always something you need to cover your head and run away from. For additional assistance with understanding the technological options available to you in banking, feel free to stop by any Bank of Luxemburg office with questions.

Bank of Luxemburg Chief Operations Officer Rebecca Edler demonstrates the ease of Online Banking.

Keep Your Online Accounts Safe

People are understandably frustrated upon learning that an online account has been hacked. The best way to avoid this problem is to get a strong handle on your own online security.  You can achieve this by following some simple guidelines:

1.  Establish Quality Usernames & Passwords

• Use both upper and lowercase letters
• Use digits and punctuation characters
• Use at least eight characters
• Do NOT choose passwords based on personal details
• Do NOT share, write down, or store online
• Change passwords regularly 

2.  Keep Your Computer Secure

• Use Antivirus Software
• Use Spyware
• Use Spam Filters
• Use Firewall Protection

3.  And…Don’t Forget

• Install Updates To Your Computer When Available
• Make Sure To Log Off, Rather Than Closing Windows
• Monitor Online Accounts Regularly 

In a time and society where things are becoming “paperless,” people are becoming more and more reliant on their computers and online accounts in general. Whether you’re shopping, paying bills, or socializing online, you want to have everything private, safe, and secure. By following the steps outlined above, you’ve taken some major strides in ensuring your own online security.

For more information, speak to a banking professional at Bank of Luxemburg (920) 845-2345, with eight convenient locations from Green Bay to Algoma.  Learn more at bankofluxemburg.com. Also, check out Bank of Luxemburg’s Chief Operating Officer, Rebecca Edler, discussing these same points on our YouTube channel.

Make Your Summer Job Money Last!

Summer is a time for fun in the sun and—if you’re in high school or college—working to earn money for the school year. Everyone knows it’s easy to spend money—especially on fun summer activities. But saving money is a considerably more difficult. To get you started, here are some tips from Bank of Luxemburg:

Create a budget and stick to it. It can be intimidating at first, but knowing how much and where you’re spending your money will help you keep your finances under control and start good habits that will last throughout your lifetime. 

Make saving a habit. It’s a good idea to save a set percentage of every paycheck—automatically if you can. If you never have the money in your checking account, you’re less likely to miss it. Once you become accustomed to this practice it will become painless.

Carefully consider purchases. Before buying a non-essential item, sleep on your decision. You just might be surprised at how many things you decide NOT to buy.

Keep control of credit card debt. To help avoid future money woes, use credit cards only for emergencies and pay off the balance each month. Make sure all payments are on time to avoid penalties, late fees and interest. 

If you already have credit card debt, try the “debt snowball,” where you pay off small balance cards first. Once those balances are paid in full, apply the monthly money you were using to pay off that debt to the card with the next largest balance. 

Be selective when choosing bank accounts. Look for accounts that don’t charge fees and banks that charge reasonable fees for services you use. Don’t overdraw your account, and use bill payment services to eliminate postage stamps, envelopes and paper checks.

For more banking and saving tips listen to the Money Smart Podcast Network right from our website. 

Do you have any helpful tips? Let us know how you hold on to your hard-earned summer job cash!

The Importance of Saving

Does it ever feel like you’re treading water financially?  Getting ahead of the game—saving—can be difficult.  With some helpful information on how to save properly and the different avenues for saving, you’ll be on the right track to making “saving money” an attainable goal. 

Personal Savings Accounts & Certificates of Deposits (CDs)

To determine whether a personal savings account or a certificate of deposit is right for you, keep time horizons in mind.  Interest rates are lower with savings accounts, but you can take money out and put money in more liberally.  CDs, however, can be opened for terms varying in length from three months to five years.  Typically, the longer you invest your money, the higher the interest rate.  Therefore, if you keep your money in a CD for a prolonged length of time for your savings goal, you’ll reap a larger amount of money saved in the end.

Health Savings Accounts (HSAs)

If you’re participating in a high-deductible health insurance plan through your employer, you might want to consider opening a health savings account.  With a health savings account, you can save for your future health care costs and take greater control of how you are paying for medical expenses.  Typically, high-deductable health plans offer lower premiums compared to traditional medical insurance plans.  The money you are saving on premiums can be invested in your HSA. 

Individual Retirement Accounts (IRAs)

You might be participating in a 401k account through your employer, but you could be saving additional money for retirement by opening a Traditional or Roth IRA.  By speaking with a banker, you can go over your current 401k options through your employer, make sure you’re utilizing it properly (percents/matches/breakdowns), and consider if a Traditional or Roth IRA might be another option for you to save for your future.

The life stage you are currently in will help you establish the best savings plans for you as well.  Whether you’re single, married, married with children, or looking to retire, your financial situation is unique.  The best strategy for savings and investment goals will vary, so feel free to speak with a banker personally at any of our eight locations.

Bank of Luxemburg Chief Operating Officer Rebecca Edler provides tips for saving on Fox 11's Living with Amy. 

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.