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Coulee Bank is a family-owned community bank with a long-standing tradition of excellent service with strong roots within the communities we serve. For over 60 years, our team of local professionals has been dedicated to helping and serving our neighbors and communities. Our mission is simple: Doing the Right Thing for Our Clients & Colleagues.
What does “Doing the Right Thing for Our Clients and Colleagues” look like on a daily basis? This mission statement is at the core of everything we do here at Coulee Bank, guiding our team in the interactions and decisions we make every day.
For our clients, doing the right thing means putting their needs first, providing you with transparent and fair financial solutions, and ensuring all interactions are focused on serving you. We strive to build long-lasting relationships based on integrity, respect, and reliability, always aiming to exceed expectations and deliver exceptional customer service.
For our colleagues, it means fostering a supportive and inclusive work environment where everyone is treated with fairness, respect, and dignity. We prioritize teamwork, open communication, and professional development, empowering our employees to reach their full potential and contribute their unique talents to the success of Coulee Bank.
For our communities, it means giving back to the communities we serve and investing in our local markets. Whether that be through volunteering, board service, or financial contributions, we strive to be a pillar of support in our local communities.
~Dirk Gasterland, CEO
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Create a Spending Plan for Financial Success
Budgeting is a powerful tool to track your money
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Creating a spending plan that aligns with your income and expenses paves the way for short-term and long-term financial security. Experts at Coulee Bank recommend assessing your finances regularly so you can create a budget and save for your future.
Become Intentional with Your Money
Dan Motoyoshi, SVP Business Banking Officer at Coulee Bank, says, “Assessing your finances is important so you can become more intentional with your money.” When you are intentional with your money, it allows you to see dollar for dollar where your money is going. When you know where your money is going, you can create a plan with achievable goals.
When you are tracking your money, Motoyoshi says you are less likely to make impulsive purchases which can derail your financial goals. That is not to say creating a plan or budget means you can no longer purchase “fun” items or make donations to your favorite charity. Budgets are simply a way to track your money, ensure you have a safety net, and feel confident spending money on the things you enjoy.
Create a Plan
To create a budget, list your income. This can include normal paychecks, money from a side hustle, garage sales, freelance work, or any other form of income. Then, list your fixed expenses or the expenses that stay the same each month like your rent or mortgage. Next, determine any additional expenses known as variable expenses.
Once you know how much income you receive, you can subtract fixed and variable expenses. This shows you how much money you have left to use at your discretion. Once you have this data, it’s important to track all purchases throughout the month. Motoyoshi says, “Knowing where the money is going helps you save for short-term goals, like debt repayment, or long-term goals like buying a home or saving for retirement.”
Stick with Your Plan
Once you begin the budgeting process, determine a tracking method that works for you. Motoyoshi says, “Some people like to manually track their money, but if finances aren’t something that interests you, try using a budgeting app that automates transactions. Without a tool that works for you, sticking to your budget may be tough.”
Look at budgeting as a step toward financial stability and a way to achieve your goals. If you have a plan that aligns with your values, income, and expenses you can set yourself up for long-term financial security.
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The Importance of an Emergency Fund
Having a cash reserve helps with unexpected expenses
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An emergency fund is key to financial security and peace of mind. It works best when you establish a budget and regularly set aside money to help with unexpected expenses. Having additional money set aside alleviates the use of high-interest credit cards or high-interest loans. To ensure your emergency fund works for you, make your goals realistic.
What is an Emergency?
Mark Landy, Retail Banking Manager, says, “An emergency fund is different for each person. Emergencies are defined on a case-by-case basis and the amount of money set aside is different for everyone.” First, determine your budget and define an emergency. Your budget helps you know how much you can set aside. An emergency may be saving money for car repairs. Or something more extreme like losing your job and struggling to pay your bills without any income?
Make an Emergency Fund Work for You
If you are starting your emergency fund or don’t have a surplus of money to deposit into an emergency fund, start small. Landy says, “Start with 10-20 dollars per month. While it may not seem like very much, the point is you are trying to save for something on the horizon that you didn’t expect.” He believes it’s beneficial to open a savings account and start putting money into the account so you can accrue interest.
The more you save, the more you can diversify your accounts. For example, putting money into a CD earns more interest than a regular savings account. Landy discusses a method called building a ladder. First, put a portion of your emergency fund in a certificate of deposit (CD). Then, in three months, open another CD, and in another three months open another CD. The purpose of this staggered ladder method is to earn you a higher rate of interest and the ability to access your money as your CD matures. By the time you open your third or fourth CD, the first one has matured, and you can access the money if you need it.
While CDs earn more interest than a savings account you need to keep in mind that if you access money in a CD before it matures, you may pay a penalty. It’s important to talk with a banker when opening CDs.
Share Emergency Fund Goals with Your Children
Landy is a firm believer in sharing these tips with your children. It doesn’t matter how old they are, talk to them about saving. Help them open a savings account or CD and teach them to save. Landy says, “If they have some skin in the game, they will understand the value in something.”
If your child gets money for a holiday, have them save 10 or 20 percent. Then, if one of their toys breaks, they can access their emergency fund to replace it. While this may not constitute an emergency, it shows your child the concept of an emergency fund.
Having Fun While You Build an Emergency Fund
If you feel like all your money is going to pay your bills and save, remember to allow for things you enjoy. Making memories with friends and family along with buying things for fun is important. You don’t want to end up resenting yourself for sticking to a budget that is too strict.
Your emergency fund should provide a safety net for unexpected expenses. Get intentional and start building the fund today and be ready for more things that come your way.
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Community Involvement is the Backbone of a Community Bank
Engaging with local communities builds a brighter financial future
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Community banks are known to serve businesses and individuals in a small geographic area and emphasize personal relationships with their customers. Since 1961, Coulee Bank has proudly served the Coulee Region in Wisconsin and has grown to serve the Rochester, Minnetonka, and St. Paul Minnesota area. Not only does Coulee Bank strive to develop lasting relationships, but they also spend thousands of hours and dollars each year volunteering in the communities they serve. They employ dedicated people who spend their time and money supporting local charities and sponsoring events.
The Coulee Bank Mission
Their mission statement is ‘Doing the right thing for our clients and colleagues.’ But what does that mean on a day-to-day basis? Doing the right thing starts internally. Coulee Bank creates a supportive work environment. They offer educational opportunities to help you grow professionally, their benefits package is robust, and they encourage community involvement.
Because Coulee Bank fosters an excellent work environment, employees are ready to roll up their sleeves and serve the communities they work and live in. Rachel Munger, Public Relations Manager, says, “Coulee Bank’s first Core Value is “Serve” because this is central to who we are as an institution. We are committed to supporting and investing in our local communities. Giving back takes on many forms at Coulee Bank, such as sponsoring local events, donating to charitable causes, and volunteering with local organizations. It is something we are doing all year round!”
She says Coulee Bank has a Community Involvement Committee with representatives from each market that meets monthly. This group plans different service opportunities for employees. At these meetings, employees select different service opportunities to be completed during the workday.
Coulee Bank Fundraisers
Coulee Bank’s main fundraiser is for Great River United Way. This is a way for employees to support the charitable organization and experience friendly competition in the workplace. Munger says, “The Community Involvement Committee planned events for employees like penny wars, silent auctions, costume contests, and trivia contests.” The relationship with the Great Rivers United Way started in 1970! Last year, Coulee Bank employees gave $27,448.94 to United Way!
While United Way is the main fundraiser at Coulee Bank, there are several other fundraisers including a yearly food drive, back to school drive, and a Toys for Tots drive. Munger says she loves all of the options for employees because each team member is passionate about something different. Being involved in these different initiatives results in a stronger team and culture at the bank.
Fostering Economic Growth
“Community banks are a cornerstone in our local economic growth,” says Munger. Choosing to work with a community bank like Coulee Bank means your dollars stay local and fund small businesses, mortgages, and local loans. Community banks are steadfast in their support and believe in giving back to the communities that have entrusted them with their dollars. Munger says she is proud to work for a community bank that has donated over $700,000 over the past 10 years to local markets.
Coulee Bank’s commitment goes beyond banking. We invite you to join us in creating a thriving community. Because when our communities succeed, we succeed!
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Take Control of Unwanted Calls by Opting Out
Here’s the scoop on protecting your privacy
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While we cannot change federal laws that allow national credit bureaus to sell “prescreened lists” to creditors and insurance companies, we can show you how to opt out of unsolicited loan offers after you apply for a loan.
Are You Applying for a Mortgage Loan?
Applying for a loan means your credit history is reviewed to determine your risk as a borrower. If your credit score is high, it shows that you are creditworthy and are more likely to pay your loans back on time. While being creditworthy is a plus, agencies that house your credit information like Equifax, Experian, and Transunion sell your name to third-party agencies. These third-party agencies know you are in the market for a loan and call you with unsolicited offers.
These lenders may seem like they know all about your credit history, but it’s often a ploy to get you to take out a loan you can’t afford. Don’t fall for the trap. It pays to do your research and make sure the terms are in your favor before signing anything.
How to Stop Prescreened Offers
Not only are these third-party lenders sneaky, but you may get dozens of unsolicited calls every day from different insurers and creditors. So how do you stop the endless calls and offers? There are multiple ways to opt out.
Here’s How to Opt Out
The first method is to opt out by phone. To opt out by telephone, consumers may call (888) 5-OPTOUT ((888) 567-8688). It’s acceptable and safe to provide them with the information they request. Federal law states that the information you provide is kept confidential and may only be used to process your request. Be prepared to give them the following personal information:
1. Name
2. Home Address
3. Telephone Number
4. Social Security
5. Date of Birth
The second method is to opt out online. Visit www.optoutprescreen.com. It is safe to provide requested information when opting out online. For the final method, you can send your information through the US postal service. To opt out in writing send the above information to the following addresses:
Equifax
Options
P.O. Box 740123
Atlanta, FA 30374
Experian
Opt Out
P.O. Box 919
Allen TX 75013
Innovis Consumer Assistance
P.O. Box 1640
Pittsburgh, PA 15230
TransUnion
Name Removal Option
P.O. Box 505
Woodlyn, PA 19094
It’s important to note that opt out requests must be processed within five business days from the time your loan officer checks your credit, although it may take up to 60 days before you stop receiving prescreened offers.
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Protect Yourself During Tax Season
Don't fall victim to cyber security threats and tax scams
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Here are some easy tips and tricks to enhance your protection:
1. Use Secure Networks: When filing taxes online or handling sensitive financial information, always use a secure, private Wi-Fi network. Public Wi-Fi networks are more susceptible to hacking. If you use one connect via VPN.
2. Keep Software Updated: Ensure your computer, smartphone, and any device you use for tax-related activities have the latest security software, web browsers, and operating system. Updates often include patches for security vulnerabilities.
3. Use Strong, Unique Passwords: For all accounts related to your financial and tax information, use strong, unique passwords. Consider using a password manager to keep track of your passwords securely.
4. Enable Two-Factor Authentication (2FA): Whenever possible, enable 2FA on your accounts. This adds an extra layer of security by requiring a second form of verification beyond just your password.
5. Be Wary of Phishing Scams: Scammers often use emails or text messages pretending to be from the IRS or other tax authorities to steal personal information. Remember, the IRS does not initiate contact with taxpayers by email, text messages, or social media to request personal or financial information.
6. Recognize and Report Phishing Emails: Learn to recognize the signs of a phishing email, such as poor spelling and grammar, urgent requests for personal information, and suspicious links or attachments. Report any suspected phishing attempts to the IRS.
7. Securely Store Tax Documents: Keep all tax documents, including previous years' returns, W-2s, and any documentation for deductions or credits, in a secure location. Shred any unnecessary or outdated documents.
8. Use Reputable Tax Preparation Services: If you’re using a tax preparer or tax preparation software, ensure it’s reputable. Check reviews and ratings, and look for any history of data breaches or security issues.
9. Monitor Your Credit: Keep an eye on your credit report for any unusual activity that could indicate identity theft. You’re entitled to one free credit report per year from each of the three major credit bureaus.
10. Educate Yourself About Tax Scams: The IRS annually publishes a list of common tax scams, known as the "Dirty Dozen." Familiarize yourself with these scams to better protect yourself. https://www.irs.gov/newsroom/dirty-dozen
11. Report Suspicious Activity: If you suspect you’ve been the target of a scam or fraudulent activity, report it immediately to the IRS and your state's tax authority.
By implementing these tips and staying vigilant, you can significantly reduce your risk of falling victim to cyber threats and tax scams during the tax season.
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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!
| Employees in the La Crosse area volunteered at Junior Achievement | |
As an organization, Coulee Bank prides itself on contributing to the communities we serve. On March 21, three of our La Crosse area employees volunteered at the Junior Achievement Titan Challenge. JA Titan is a simulation-based program in which high school students compete as business CEOs in the phone industry, experiencing firsthand how an organization evaluates alternatives, makes decisions, analyzes the outcomes of those decisions, and then strategizes what to do next.
With a focus on financial literacy and insights into the workforce, JA Titan brings business economics to life. As students work in teams, or on their own, to make financial decisions about production, marketing, research and development (R&D), and corporate social responsibility (CSR), they begin to see how every choice made in an organization relates to its future success.
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Employees in Rochester Volunteered at Channel One Food Bank | |
On March 25th, Coulee employees in Rochester volunteered with other community members at Channel One Food Bank! The group repackaged granola for the Food Bank's retail store. They packaged 1200 one-pound bags of granola! | |
Matt Nigbur, Market President, Rochester | |
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Happy 10-Year Work Anniversary to Matt Nigbur, Market President at Coulee Bank in Rochester. Matt came to Coulee Bank in 2014, and he is a second-generation banker in the Rochester area. Matt’s father was a banker in Rochester, and Matt had the pleasure of working for and learning from his father for nearly six years.
Matt’s favorite part of coming to Coulee Bank is that he was able to build the Rochester branch from the ground up. While Coulee Bank originated in La Crosse, WI in 1961, the Rochester branch opened its doors in 2014 with Matt being the only employee. His favorite part about being a banker in the Rochester area is making and maintaining relationships day-to-day, year-to-year both in the community and with the employees at Coulee Bank. Matt embodies the Coulee Bank mission, "Doing the right thing for our clients and colleagues."
Fun Facts About Matt:
1. Matt has been married for 24 years.
2. Matt is a Rochester native and all three of his children have attended the same junior high and high school that he attended.
3. When he was 8 years old, he won a local punt, pass, and kick competition
4. Matt has been going on an annual fishing trip with the same three friends since 1993.
5. He has been in the same Fantasy Football League for 34 years, and he has a massive trophy in his office to show for it!
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Deon Oden, Mortgage Loan Officer, Rochester | |
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Happy 5th work anniversary to Deon Oden, Mortgage Loan Officer at Coulee Bank in Rochester! In 1997, Deon's mentor suggested the mortgage industry because of his outgoing personality and desire to make other people smile. His mentor truly believed he would excel in the mortgage industry.
Five years ago, he interviewed with one of our current employees, Amy Marcou, VP Manager of Mortgage Operations and after one conversation with her, he knew Coulee Bank was the place he wanted to be. He loves his position at Coulee Bank because no two days are the same. Every day is fun and interesting!
Fun Facts about Deon:
1. Deon was born on the South Side of Chicago. He says he will always be a Chicagoan steeped in Chicago culture regarding food, sports, and landmarks. "Go White Sox, Bears, Bulls, and Blackhawks!" And, yes, he left out the Cubs because they are from the North Side of Chicago and a true South Side Chicagoan could care less about a team from the North Side.
2. His hobbies include motorcycle racing, camping, and traveling.
3. Deon coaches AAU basketball. Over the last 15 years of coaching, he has helped 80 young men receive college scholarships to Division 1 schools. Ten of his protégés went on to play basketball professionally and three of them play in the NBA! He has remained active in the lives of the kids he has coached and mentored including helping them make life decisions about careers, purchasing homes, and even decisions regarding their kids.
4. Deon is very active in the Rochester community. He is involved in various mortgage and mentoring organizations.
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🎉🎂 Let's give a BIG shoutout to all our amazing colleagues with April birthdays! 🎈🥳 We hope your special day is filled with joy, laughter, and lots of cake! 🍰🎁 Cheers to another year of creating awesome memories. Happy birthday! | |
Let's give a big round of applause to the incredible Coulee Bank employees celebrating their work-i-versary! 🥳🌟 They're absolutely crushing it and we couldn't be more proud of their hard work and dedication. Drop your congratulations in the comments below and show them some love! ❤️ | |
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In celebration of National Women's History Month, we are proud to feature two powerhouse women who are crushing it in the world of entrepreneurship!
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Marty Polacek, Marty's Deli | |
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Join us in celebrating the incredible women who inspire us every day, like business owner, Marty Polacek!
In honor of Women's History Month, we wanted to feature one of our female business owners who chose to bank with us.
Marty Polacek owns and operates Marty's Deli. Marty's Deli is a small sandwich shop in Northeast Minneapolis serving up colorful riffs on deli staples. They offer breakfast and lunch sandwiches that are made with only the best pickles, breads, and spreads (all made in-house!).
Marty's Deli opened in January of 2023 but operated as a pop-up concept for two years before that. Marty says her sister is her mentor. She built a letterpress business and sold it after 10 years. Her sister has provided a tremendous amount of support and perspective when it comes to owning a business.
Marty chose Coulee Bank for many reasons but most of all our customer service made it easy to understand different options. She says, Coulee Bank has also shown a big commitment to small businesses like hers.
Her advice to women starting a business is to utilize their village and also to give back as much as possible. Community is everything! We're so proud to be on this journey with her.
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Jill Woxland, Intemark
Woman-owned and Operated Business
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Meet Jill Woxland, the mastermind behind Intemark who chose Coulee Bank to help manage her business finances. She founded her company in 1994 and is the go-to for all things related to partner marketing, strategic alliances, collabs and asset valuation. From entertainment to retail to sports and lifestyle, Intemark has got you covered. Based in Minneapolis with a field office in NYC, they're taking the world by storm!
Jill says she chose Coulee Bank because of our CEO, Dirk Gasterland, and his team. She met Dirk at a peer group that met monthly for years. She remembers him for having poignant advice with a big voice and a gentle demeanor. While Jill had been banking with a big bank for years to help manage international wire transfers, during the pandemic, she chose to move part of her business to Coulee Bank, a community bank, because she was dissatisfied with the big bank. She says, "Coulee Bank is efficient and they keep me informed as I transfer more and more of my business to them." Now she has a great relationship with her banker Ben Monnens, SVP Business Banking Officer at Coulee Bank.
Jill says her role models are Marilyn Carlson Nelson, co-owner of Carlson Inc., a large travel and hospitality company Marilyn formerly led and Rhoda Olsen, Chairman of Great Clips, Inc. Jill worked at Carlson Inc. in the early 90s and won an award that allowed her to work more closely with Marilyn. She watched as Marilyn promoted more women to leadership roles at Carlson Inc. which inspired Jill to start her business Intemark. Rhoda has been alongside Jill almost every step of the way. Taking a chance on Intemark when Great Clips had four hundred locations back in 1995, Rhoda saw something in Jill and Intemark’s partnering expertise. Intemark and Great Clips’ strong partnership over 27 years helped Great Clips grow to nearly 5000 locations today. Rhoda is known nationwide to be a strong supporter of female entrepreneurs and women in business overall.
Jill's advice to women who want to start a business is to think of yourself as a strong businessperson and not a woman or a minority!
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"I haven't been with Coulee Bank for very long but so far I really appreciate the good service I have received. I chose the bank because it is 3 blocks from my house. When I retire in a few months I will move all my accounts to Coulee because of the convenience. I find the tellers at Coulee to be happy, helpful and personable."
~Richard
"Your staff is very friendly during face-to-face contacts and are able to recognize what your needs are when making inquiries. That's a plus when serving the public and is greatly appreciated."
~Carol
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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. | | | | |
