Coulee Courier

Whether you started working at the age of 10 to put food on the table for your family or started working after you finished high school, I wanted to take a moment to honor you for the hard work you put in day in and day out. As each year passes, we all must change with the times. We must exhibit resilience, dedication, and innovation to navigate in this ever-changing environment.

I am incredibly grateful that I am now the CEO of a community bank that has been in my family for six decades. However, banking wasn’t my first career choice. I was an ambitious adolescent and started working at age 12. I washed Scenic Tour buses after school and in the summer. It brought in $20 per small bus and $25 for the larger buses. While physically demanding, I enjoyed the hard work.

In high school, my favorite extracurricular activity was basketball. I enjoyed the sport very much and could hold my own on the court. I thought I would go on to play competitive basketball overseas, but a knee injury robbed me of that opportunity. I briefly thought about being an airline pilot, but before getting my license, I realized the industry was about to go bankrupt and decided to pivot one last time. I started in the banking industry and never looked back.

Being the CEO comes with many challenges, but I am surrounded and supported by very talented people. As a leader in this organization, this quote from Lao Tzu is always at the forefront of my mind, “A leader is best when people barely know he exists. When his work is done, his aim fulfilled, they will say: we did it ourselves.” I feel our team at Coulee Bank is incredibly capable and they do the work themselves. That is how we continue to grow and improve.  



My wish for you on Labor Day is to rest, relax, spend it with family, or friends and enjoy. May you return to the office refreshed, rejuvenated, and ready to do the work.

 ~Dirk Gasterland, CEO

The Ultimate Guide to Buying a Home on a Single Income



These tips will make homebuying easy

Thinking about buying a home on a single income? It's a big decision, but it's not impossible. With the right planning and resources, you can make your dream of homeownership a reality. Here are tips to get you into the home of your dreams.

Are You Credit Worthy?

When you want to purchase a home, lenders look at your credit report and credit score to determine your creditworthiness. A credit score is a three-digit number that includes repayment history, types of loans, length of credit history, debt utilization, and whether you’ve applied for new accounts. This three-digit number determines the likelihood of you paying back your loan based on your credit history as compiled by Equifax, Experian, and TransUnion. Lenders look for a credit score of 620 and higher.

If your credit score is lower than 620, here are a few ways to improve it.

·        Pay all your bills on time

·        Pay down all debt

·        Do not apply for new credit cards

·        Diversify the types of credit you have (e.g. credit cards, auto loans, student loans)

Your credit score is crucial, but it's not the only thing mortgage lenders look at. Factors like income, employment history, and debts play a big role in their decision. Stay informed and increase your chances of getting that dream home!

Kris Farwell, Director of Mortgage at Coulee Bank says, “As lenders, we assess your income and employment history going back two years. Your income helps lenders determine how much mortgage you can afford. Our goal at Coulee Bank is to set you up for success!” She also mentions the importance of your Debt-to-Income Ratio (DTI).

What is DTI and How is it Calculated?

Farwell says, “An easy way to figure your DTI is by dividing your monthly debt payments by your gross income. The goal is to have a low DTI. As lenders, we like to see a DTI of 36% or lower.” She encourages you to consult with a lender at Coulee Bank to determine your actual number. There are other programs you may qualify for that have more flexibility.

After consulting a lender, if your DTI is still too high try these tips:

·        Reduce your monthly recurring debt

·        Avoid taking on new debt

·        Consolidate debt

·        Create a budget and follow it

·        Take into consideration any other recommendations your lender may suggest

Consider Putting a Down Payment on a Home

A down payment is the initial payment you make when purchasing a home. It shows you are committed to becoming a homeowner. For a conventional loan, consider a 5% down payment. Don’t be discouraged if you don’t have the cash for a 5% down payment because some programs allow you to put as little as 0% down. Set yourself up with a down payment by saving a little each month. Farwell says, “While saving money for this down payment, you can also find someone willing to help with a gift fund. Parents or grandparents may have a small nest egg they can gift you as a birthday or holiday present.”

If you don’t foresee a monetary gift, a co-signer, often a friend or family member, may help you qualify for a loan. Remember, if you have a co-signer, they are not responsible for payments but are responsible if you miss a payment. If you miss payments, it could hurt the co-signer’s credit score.

Remember to talk to a local lender at Coulee Bank to find out about down payment assistance programs. There are first-time homebuyer loans, grants, and low-interest loans to make homeownership a reality.

Some common types of down payment assistance include:

·        Grants-don’t need to be repaid, but often come with repayment requirements.

·        Low-interest loans-repaid along with your regular mortgage payment over time.

·        Deferred loans-don’t charge interest until you sell, refinance, or the mortgage reaches the end of its term.

·        Forgivable loans-expire after a certain period.

For more information on down payment assistance programs, read this article from Rocket Mortgage.

Roommate to the Rescue

If you are set on buying a house, but don’t have the down payment, consider a roommate to help you with the monthly mortgage payment. You are responsible for qualifying for the loan, but a roommate can help supplement the monthly mortgage payment. Determine if you want them to pay separately for utilities or one lump sum. Have a backup plan, like an emergency fund, if that roommate bails sooner than expected.

If you have a roommate, even if it is your best friend, there are taxes on the income you receive from your roommate. You are officially a landlord at this point, and it’s an important step to filing your taxes correctly.

You may also need this emergency fund for any maintenance your new home may need, a car repair, or any other emergency you may experience. Consider saving part of your down payment for the emergency fund.

Get Pre-Approved

If you want to be taken seriously as a homebuyer, get pre-approved. It shows buyers you are interested, and it gives you an idea of how much home you can afford. There’s nothing worse than finding your dream home and then realizing you can’t afford it. This is an easy process your mortgage loan officer can help you with.

The documents you need vary based on the loan you’re applying for and your financial situation, for instance, if you’re self-employed, paid hourly, or get commissions or bonuses. Consult a loan officer at Coulee Bank to discuss what you need to provide during the application process.

Ready to purchase a home? Contact a responsible real estate agent and mortgage loan officer. There are new rules that will allow you to “hire” someone to represent you, as a buyer, and make sure your questions are answered before looking for a house. Farwell says, “You may want to get a referral for these individuals to help you purchase a home. You want someone to have your best interests in mind.”

Reach out to Kris Farwell and her team if you are ready to purchase a home.

Coulee Bank. Bank with Confidence. Member FDIC. Equal Housing Lender.

How to Network Even if You Are an Introvert



These networking tips will help you build confidence while growing your business

You cannot successfully build your business with passion alone. It takes a team of other professionals to help you with different aspects of your business. Consider accountants, insurance agents, real estate agents, bankers, and other business professionals to help guide you on this entrepreneurial journey. This is true for your customer base too. But how do you meet professionals to help you manage your business and customers to support your business?

Ben Trehey, VP Business Banking Officer at Coulee Bank in Rochester says, “Networking creates referrals. With most businesses (especially start-ups), people don’t simply walk through your door. You must do the work to help support and market your business.”

What Are the Benefits of Networking?

Networking builds lasting relationships, helps advance your career, builds confidence, and helps develop patience and listening skills. Trehey enjoys networking because of his genuine interest in helping people. He believes networking at its core is about synergy – about collaborating and connecting.

Because Trehey has been networking for many years, he continues to build and foster relationships with people he met when he first started attending networking events; many of them he now considers friends or referral partners. As an entrepreneur, surrounding yourself with people who support and believe in your entrepreneurial journey is key to success. The more people you have in your corner, the more confident you become ultimately alleviating some of the anxiety you may have attending networking events.

These individuals can also introduce you to others who need your products or services. Once you build an effective business network, it can feel like you have built your own sales team. Let your referral partners know the keywords to listen for in conversations to prompt new introductions and contacts.

What is the Most Effective Way to Network?

When you are a business owner, you must be proactive. Before you start networking, perfect your elevator pitch, or as some people call it, elevator speech. According to Indeed, an elevator pitch is a quick professional summary usually around 75 words (roughly 30 to 60 seconds to deliver). Trehey recommends writing it down and role-playing the speech with colleagues or friends. Practice until you are comfortable giving the speech without sounding scripted. While reciting your resume and past accomplishments may sound impressive, focus on what you are currently striving to achieve. In your pitch, mention the clients you serve, your business approach, and your values.

When you attend an event, find someone who is standing away from a large group, possibly on their own. Introduce yourself. Don’t talk about yourself first unless they ask you. Engage in a conversation about their business and follow the 70/30 rule. This rule simply means allowing the person to talk about their business 70% of the time while you talk 30% – mostly asking questions. After a while, they will naturally start asking you questions. Make sure you are ready to let them know specifically who you are trying to connect with. In some cases, it might be a particular person that they already know. A warm introduction is always best.

Set goals when you attend events. Put yourself in uncomfortable situations to help build your confidence. Remember everyone is at the networking event to make connections and meet new people. This mindset should help you alleviate some of your anxiety.

One of your goals should be to try to meet three new people at each event. In time, you will know a significant number of people in the room. Continue to connect with people you know, but make sure you don’t spend the entire time talking with them.

Trehey says, “If you make a meaningful connection, get their business card and follow up with an email or a handwritten card. Invite them for coffee.” During another conversation, you can dig into the details to determine if this is someone you want as a referral partner.

Cultivating Your Centers of Influence

You know you have succeeded when you find a Center of Influence (COI). This is a professional in your community who regularly interacts with your ideal client type or target audience. A COI can connect you to new prospects or introduce your brand within their circles.

“A COI is usually a person who plays a vital role in the community,” says Trehey. They are business leaders, passionate advocates, or dedicated volunteers. Their leadership forges new paths within every community. Don’t be intimidated by them.

If it’s still too difficult to talk with people at networking events, find a mentor. Find someone in your community who regularly attends networking events and model their behavior. Schedule a time to chat with Ben Trehey by clicking here. Find a Coulee Bank Business Banker in your community and schedule a meeting with them. Click here to meet the team.

Podcasts are Convenient and Accessible



Use your downtime to learn more about managing your money

Podcasts are an audio-based trend where meaningful conversations educate, entertain, and inspire targeted audiences. While this trend has been around since the turn of the 21^st century, it grew in popularity in 2014 when NPR launched the true crime podcast, Serial. Since then, the method in which people get information has changed.

Rachel Munger, PR Manager and Financially Free Gen-Z podcast host at Coulee Bank says, “Podcasts vary greatly from topic to topic. Some podcasts are formal and some a bit more casual.” Podcasts may have one or two hosts that discuss topics, and some podcasts offer special guests who are experts on specific topics. Either way, podcasts include meaningful conversations with a targeted audience.

Coulee Bank’s Financially Free Gen-Z Podcast

Coulee Bank is connecting with the up-and-coming generation by providing the podcast, Financially Free Gen-Z. Munger says, “Gen-Z as a whole seems to have an interest in financial literacy. This group gets their information through YouTube or podcasts, so we wanted to provide resources on platforms they are already using.” She feels younger people in general don’t always get the financial tips they need to succeed. Many of these topics are not taught in school unless you specifically take financial classes that may not be a required course.

As teenagers become adults there aren’t a lot of resources to teach you about the type of topics Financially Free Gen-Z discusses. She says financial literacy isn’t hard, but you need to be aware of tools and resources that help you make good choices with your money. Buying your first car or house or even managing your student loan debt can be tricky without the right resources.

While Coulee Bank’s podcast is geared towards Gen-Z, it has elements that apply to a variety of ages. Joshua Herrmann, Universal Banker at Coulee Bank and cohost of the podcast says, “Our targeted audience isn’t the 60-year-old who made money in the stock market and is set for retirement. Rachel and I are living in the real world with real jobs. We are looking at modern times and trying to navigate this financial climate.”

Herrmann says he didn’t learn financial literacy through school or his parents, so he tries to navigate this world himself. Both Munger and Herrmann feel grateful they work at a bank and have the time to research financial topics. This enables them to become experts and share with others.

Herrmann truly hopes younger people are listening to their podcasts because there is so much great information. He says, “Teenagers are listening to podcasts anyway, so why not seek out educational information.”

Helping You Become Fiscally Responsible

Right now, inflation is high. Home prices have skyrocketed, and groceries are expensive. Financially, people are stretched very thin. It’s difficult, and people are forced to find ways to cut back wherever possible. Munger says, “As a society, we have a high dependence on credit. We have mortgages, car purchases, and credit card debt which contributes to the rise of inflation and the cost of goods.” As a whole people are extending themselves more than they should.

Herrmann believes in fewer meals in restaurants and prefers cooking at home to save money. He chuckles and says he would love to eat out every day, but it isn’t fiscally responsible. Both Munger and Herrmann agree that in your 20s, it’s important to try not to get into a lot of debt, and to make consistent payments to get out of any debt you may have. It’s also essential to save even if it’s a small amount each week or each month.

Herrmann says even if you are in your 40s and haven’t saved for your future, start anyway. Put aside $100 per month because as your money grows your interest compounds and helps your money grow faster. Munger says, “It’s amazing the difference it can make for your future if you start saving when you are young.” Even though she urges young people to start saving early, she also believes that time is important too. You still want to enjoy the life you’re living.



Tune in each month as Munger and Herrmann discuss a variety of financial topics. It could change the way you think about and manage your money. You can learn more about compounding cash in episode 5.

Tips from IT

Staying Safe for Online Learning Day

Security Risks in Online Learning

1. Unsecured Platforms: Using unsecured or poorly secured online learning platforms can expose personal data to unauthorized access.
2. Zoom Bombing: Unauthorized individuals can join video calls to disrupt sessions or steal information if meetings are not properly secured.
3. Data Privacy Issues: Personal data collected by online learning platforms can be at risk if the platform does not have strong privacy protections in place.
4. Weak Passwords: Using weak or reused passwords for online learning accounts can make it easier for attackers to gain access to personal information.

How to Stay Safe

1. Secure Video Calls: Use passwords and waiting rooms for video calls to prevent unauthorized access.
2. Be Cautious with Downloads: Only download materials from trusted sources and be wary of unexpected files.
3. Strong Passwords: Use strong, unique passwords for all accounts and consider using a password manager to keep track of them.
4.  Educate Yourself: Stay informed about the latest security threats and best practices to protect against them.
5. Data Encryption: Ensure that any sensitive data being transmitted is encrypted.
6. Privacy Settings: Review and adjust privacy settings on online learning platforms to limit data exposure.

Coulee in the Community

Coulee Bank is dedicated to excellence in the workplace while fostering growth and support in the neighborhoods we call home. We volunteer because we have the power to make a difference! 

Congratulations to our amazing La Crosse area SVP, Business Banking Officer for being awarded Rotarian of the Year! Your dedication and hard work in our community does not go unnoticed. Thank you for your outstanding service!

One of our La Crosse area employees went to Camp Decorah in La Crosse to be part of their weeklong day camp. He was a special guest instructor of a 45-minute session on what it looks like to “Start a Business”.

These kids aged 5-11 (both boys and girls) received a macro level education on what it takes to be an entrepreneur. He discussed keys business terms (expense, income, profit, loss) and what a basic business plan looks like. Then, they brainstormed ideas of a business they could start, what that advertising might look like, and the super important piece of getting the right name! Overall, it was a great day to spend with the kids! Great job inspiring future entrepreneurs, Peter!!

Our marketing team spent last Friday at the Wal-Mart in Onalaska collecting school supplies to stuff the bus! While parents dropped off supplies, Team Coulee Bank was there to get children pumped about playing Plinko! Each kiddo walked away with a prize from the Coulee Bank swag bag. They could choose from bubbles, color changing pencils, sunglasses, mini footballs, chip clips, and lots more!

Big THANK YOU to News 8 Now and The Salvation Army for partnering with us at the school supply drive!

Employees in St. Paul and Minnetonka paid a visit to Second Harvest Heartland and they did not disappoint! They packed 672 boxes for low-income seniors which equates to 22,496 pounds of food! The boxes included staples like vegetables, beans, cereal, peanut butter, and more! This Commodity Supplemental Food Program (CSFP) is nutritionally designed to enhance monthly groceries for seniors.

Awesome teamwork, Team Twin Cities! We are so grateful for your efforts!

Employee Spotlight

Cal Christensen has earned the title of Senior Vice President through years of hard work. Cal is quiet, humble, and incredibly bright. His career in banking started 35 years ago after studying business and economics at the University of North Dakota. He grew up in a small town in North Dakota and moved to the Twin Cities after graduation.

Christensen started working in the commercial real estate side of banking about 20 years ago. He says he thinks outside the box for his customers and enjoys putting deals together. In his tenure at Coulee Bank, he worked with a customer that not many other banks would have helped. The customer wanted to purchase property in the northern suburbs of St. Paul with environmental issues. True to Christensen's innovative thinking, he made the deal happen. This customer went on to sell off the property and doubled his money from the sale. How's that for thinking outside of the box!

Christensen says, "I came to Coulee Bank almost 11 years ago. Dirk Gasterland, Coulee Bank's CEO, recruited me." Most of the time commercial lenders stay at one particular bank for 3-5 years and then move on. However, Christensen says, "Working at Coulee Bank is a remarkably good fit. It's the most rewarding career I have had," he says.

The reward comes from not only putting the deals together but also working with amazing people. There are multiple teams within the bank that Christensen works with when he is completing commercial real estate transactions. "Working with these employees is like a well-choreographed dance between each department," he says with pride.

While Christensen loves the work he does at Coulee Bank, he always has time for a good steak from the grill and tinkering with his convertible car. When he retires, he hopes to stretch the creative side of his brain and travel around with his camera in tow taking photos of landscapes.

Contact Cal Christensen here for all your business needs.

We love a reason to celebrate with our colleagues!

🎉🎂 Happy Birthday to all our amazing Coulee Bank co-workers!

🎈🥳 Here's to another year of hard work, laughter, and teamwork. Wishing you all the best on your special day. Let's make it a celebration to remember!

🎉 Happy Work-i-versary to our amazing colleagues!

It's been an incredible journey with each and every one of you. Your hard work, dedication, and positive energy make our team unstoppable. Here's to many more years of success and growth together!

Customer Spotlight

Thank you to our AMAZING customers for choosing us for all your banking needs! We are grateful for your loyalty, support, and trust in our products and services. Here's to many more years of building a strong relationship together!

Meet Isaac and Abigayle Johnson, Rentex Rentals Jolly Jumpz

Rentex Rentals Jolly Jumpz was founded in 1995 and acquired by the new owners, Isaac and Abigayle Johnson in 2022. Isaac Johnson says, “This was an opportunity my wife and I saw doing long term. It’s our third season, and we couldn’t be happier.” Their focus is to provide fun for any party! Rentex Rentals elevates the party experience by offering inflatable bounce houses, portable games, and folding tables and chairs. You can even rent a cotton candy machine! Party planning may feel like a daunting task, but with Rentex Rentals Jolly Jumpz it feels a lot less intimidating.

What Party Items Can I Rent?

Planning a party is simple with Rentex Rentals Jolly Jumpz. Their inventory is pictured on their easy-to-use website. If you are planning a birthday party for one of your children, check out the inflatable bounce houses. There are several styles in a wide array of bright colors. Bounce houses are a fantastic option and provide a great way for the kiddos at the party to expend some energy while parents relax and enjoy the day.

Looking for a little friendly competition for your party? There are games available for rent including an axe throwing game without the “sharp and stabby,” Connect 4, mini golf, All-Star Hoops (an inflatable basketball game), and T-Ball for all the sluggers at the party. To make hosting an event even easier, Rentex Rentals Jolly Jumpz offers tents, foldable chairs and tables, and concessions.

“We have a lot of inventory for backyard parties however, we focus on corporate, school, daycare, and church events,” says I. Johnson. These organizations tend to reserve a year in advance, but if you have a private party at your home, they still have lots of inventory to offer.

Are These Products Safe?

You may be wondering about safety. I. Johnson says, “Safety is our number one priority. We do not set up bounce houses in high winds over 15 mph or rain. We have software that notifies us via email if the wind speeds detected in your area get over 15 mph. Unfortunately, you must evacuate and shut down the bounce house.”

Each rental is thoroughly cleaned after every use. Rentex Rentals Jolly Jumpz is committed to ensuring a clean and safe product. After each use, the products are cleaned by commercial vinyl cleaners, disinfected, and sanitized before being used again. It’s worth noting that all units are constructed with 100% lead-free vinyl.

Making it Work

“Because we were new to this industry, we were mentored by the previous manager,” says A. Johnson. She goes on to say the previous owners continue to answer any questions they have about running the business. Both Isaac and Abigayle are grateful for the ongoing support. They believe it helped them to purchase a well-established business rather than start from scratch.

“If you want to start your own business, it’s very rewarding,” says I. Johnson. He recommends having a network of people to help you along the way. Start by building relationships with bankers, real estate agents, lawyers, and accountants. You never know when you may need someone to assist you with your business.

“Coulee Bank in Rochester is definitely on my list of trusted business professionals,” says I. Johnson. He says they have helped them every step of the way. “My wife and I love to come to the Rochester branch and work with the bankers to find creative ways to make more profitable deals for our business. Although we call Rochester home, we can service areas of Wisconsin and Iowa.”

Customer Testimonials

Financially Free Gen-Z Podcast

Tune in to the newest episode featuring Joshua and Rachel as they delve into 'The Craft of Compound Interest.' This episode offers insights from Cal Christensen, SVP, Business Banking Officer, on optimizing your finances.

Disclaimer - All content contained in this newsletter is for informational purposes only and should not be relied upon to make any financial, accounting, tax, legal or other related decisions. Each person must consider his or her objectives, risk tolerances and level of comfort when making financial decisions and should consult a competent professional advisor prior to making any such decisions. Any opinions expressed through the content in this newsletter are the opinions of the particular author only.