In this Issue:
The Peoples Community Bank's Scholarship Winners for 2014
We recently announced high school scholarship recipients for the Class of 2014. These recipients were selected based upon academic merit, leadership, and community involvement. Please join us in saying "congratulations" to the following recipients for 2014:
- Tessa Archie
- Tyler Hellenbrand
- Jacob Sickels
- Elizabeth Gruber
- Laura Schmidt
- Reuben Ederer
- Elijah Barsness
- Kody Fisher
Candidates of these scholarships must be graduating seniors who are non-relatives of any officer or director of The Peoples Community Bank and who are planning to attend a post-secondary program of study in a business-related field. High school seniors wishing to apply for a scholarship from the bank are able to pick up and return his/her application at their respective school guidance office.
The Peoples Community Bank Scholarship Fund was established with a mission to support the educational growth of talented, young leaders within the various communities served by the bank.
Each year, the Scholarship Fund awards in excess of $5,000 to qualifying graduates from Barneveld High School, River Valley High School and Wisconsin Heights High School.
Five Things That Won't Hurt Your Credit Score
As you work to improve your credit score, it's important to be mindful of the behaviors that could help or harm it. While the following five things could influence your financial state, they will generally not harm your credit score:
1) Paying with a debit card. When you pay with credit, you are buying something now to pay back later. With a debit card, however, money that you already have comes straight out of your bank account. No borrowing is involved, even when you run the debit card as credit to avoid inputting your PIN.
2) Experiencing a drop in salary. While a salary cut may affect some aspects of your personal and financial life, your income in and of itself is not a factor used to calculate your credit score.
3) Being denied credit. If you apply for new credit, being denied will not impact your credit score. The act of applying for credit, on the other hand, could impact your credit score. When you initiate a request for credit, it triggers a hard inquiry on your credit report, which could lower your credit score.
4) Having high interest rates on your current accounts. If you apply for new credit, your credit score will, in part, determine your interest rate. With a higher credit score, you are more likely to qualify for a low rate. But the interest rates you are currently being charged on your credit cards or other credit accounts are not factored in to your credit score.
5) Participating in credit counseling. In general, credit scoring models do not consider whether you are participating in a credit counseling service. But the actions you take as a result of credit counseling-deciding to make partial payments, for example - could reflect negatively on your credit score.
At Your Service: Mortgages & Home Loans
Rates are still very low, and it's still a good time to consider refinancing if you'd like to get a lower interest rate than the one you're currently paying on your mortgage. A lower rate can substantially lower your monthly mortgage payment.
Homeowners also may want to refinance to replace an adjustable rate mortgage, piggyback mortgage or other mortgage-related provisions.
Whatever your situation, you can count on the home loan experts of The Peoples Community Bank to help you figure out what's best for your situation.
Member FDIC · Equal Housing Lender
Reduce Paper Waste: Benefits of Electronic Statements
Electronic statements (e-statements) can not only reduce clutter - they look and function just like paper statements; use them for taxes, record keeping and more. In addition to reducing clutter, here are four benefits of eStatements:
- Convenient - View, save and print your eStatements through Online Banking at your convenience from anywhere with Internet access. No more trips to the post office or your mailbox.
- Secure - Replaces monthly paper statements and decreases your risk of identity theft. Approximately 85% of identity theft cases start with stolen paper statements, bills, or checks.1
- Fast - Receive eStatement days earlier than paper statements delivered by regular mail. You will receive an email notification as soon as your statement cycle closes.
- Free - eStatements are delivered to your registered email address at no additional cost.
Go paperless and enjoy the most efficient, secure and convenient way to receive your statement! To sign up, log into your PCB Online Banking account and follow the steps, or call us at (800) 795-2151.
1Javelin Strategy & Research, 2007.
Disclaimer: This newsletter does not constitute tax, legal, accounting or other professional advice. We attempt to be accurate, but neither we nor any other party shall be held liable for loss or damages resulting from reliance upon or use of this material. © 2014 The Peoples Community Bank.