May 2014

In This Newsletter:


Bank Opens New Loan Office in Richland Center

The Peoples Community Bank is pleased to announce the opening of a loan office located at 134 South Central Avenue in Richland Center.  The bank is also pleased to announce the hiring of Thomas Delagrave and Thomas Gainor, two veteran lenders in the Richland Center area.
Delagrave has been employed in the banking industry since 1991 and will oversee commercial and agricultural loans for the new office.  He is a graduate of the University of Wisconsin-LaCrosse with a degree in Finance and resides with his family in Richland Center.
Gainor has been employed in banking since 1990 and specializes in the origination of one- to four-family residential mortgages.  He, too, is a graduate of the University of Wisconsin-LaCrosse with a degree in Finance and also makes Richland Center his home.
"We're very pleased to have both Tom Delagrave and Tom Gainor join our team," said Gary Harrop, President and CEO of The Peoples Community Bank.  "They will be instrumental in helping us expand our loan services and offer added convenience to bank customers in the Richland Center area."
To contact the new Richland Center office, please call (608) 383-1333 or (800) 795-2151.



Coming in May - New Video Kiosks

During the month of May, drive-up units in all of our locations will be replaced with new video kiosks.
With this change the drawer in the first drive-up lane will no longer be used for transactions.   All transactions will be performed via tube beginning with the second lane in each location, the exception to this being our Plain office (where the lane closest to the building will have one of the new video kiosks installed).
You will continue to be served by a customer service representative but you'll now see that person on screen, not standing in the drive-up window. 
One of the big advantages of this two-way video, two-way communication between you and the customer service representative (CSR) is increased privacy.  Because the CSR wears a headset, only he/she can hear you.  No longer will there be an open microphone that has the potential to be heard by others.
With this change you'll continue to see and interact with the same faces that you always have and you'll find them even closer to you - on screen and in your lane.  We remain committed to serving you with people and in continuing our promise of Simply Good Banking.

Buying a Home?

5 Things Every Homebuyer Should Do

If buying a home is in your near future, now is the time to get your finances in order for the big purchase.  In doing so, you can avoid many of the stressors other first-time homebuyers face.  Here are five simple tips to help you start preparing your finances now:
1. Order a copy of your credit report.  Pull a copy of your credit report to get an idea of where you stand.  Every consumer is entitled to one free credit report each year from each of the three national credit reporting agencies through
2. Address any issues or discrepancies on your credit report. Any inaccurate information in your credit report may also impact your credit score. If any of your account information is incorrect, you can file a dispute with the credit reporting agency for free. 
3. Figure out what you can afford. As a rule of thumb, your mortgage principal and interest payments, along with your other debt payments, shouldn't be more than 43 percent of your gross monthly income.
4. Set a savings goal. Once you know what you can afford, take a hard look at your current lifestyle and determine how much you need to save-and where you can make some cuts. 
5. Collect everything you need to present to your lender.  As you prepare for the big purchase, gather and organize all of the documents your lender will need, like your W2 forms, pay stubs, and copies of your bank accounts, 401(k), IRAs or brokerage accounts.
By preparing now for your home purchase, you can avoid the hassles that come with buying a home.  As always, our mortgage lenders are available to answer your questions and make the home buying process a smooth one for you.  
Visit our Mortgage Web Center now for more information about PCB's Mortgage Services.

Simple Money Tips: IRA Rollover Advantages

Rolling over a retirement plan from a previous employer can save you time and hassle - and maybe even money!
The days of staying with the same employer for an entire career have mostly become a thing of the past. Now, it's not unusual to have five to seven jobs over the course of a career.  That's why so many Americans have retirement plans from several different employers: meaning multiple statements and hassles, and even multiple fees.
Rolling over your other retirement plans into an IRA can help streamline your retirement savings and much more.  Here are several benefits to "IRA rollover":
* Save time.  Having fewer accounts makes it easier to make changes, track performance, manage your asset allocation strategy, and rebalance retirement funds.
* Reduce fees. When you have retirement plans with several providers, you may pay fees on each account. Combining your savings into one IRA may reduce the number of fees. And, of course, rolling over your account instead of cashing out helps you avoid the 10 percent IRS penalty from withdrawals before age 59½.
* Offer continued tax advantages.  If you cash out, you'll owe taxes on pre-tax contributions as well as on earnings. By transferring directly into an IRA, no money will be withheld, and tax-deferred growth potential will continue until you withdraw money in retirement.
* Greater control. Rolling over retirement funds now can help you avoid being affected by changes your former employers may make to their retirement plans.

Visit our Investment Center website for more information about retirement plans and how we can help you.  If you're ready to roll over a retirement plan from your previous employer(s), please call Mike Peterson or Jon LaVenture today: (608) 795-2120.


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