September 2014

In this Edition:


Fall Shred Event - Save the Date

  • Saturday, October 11, 2014
  • 9:00-11:00 a.m.
  • Bank parking lot - 222 W. Commercial Street, Mazomanie, WI 53560
  • (Paper shredding only)
Overview: Pellitteri Data Destruction will be on site to immediately shred your paper waste. There is no cost for this service but we ask that you consider making a donation of canned goods or a $5 donation which will be given to the Community Food Pantry of Mazomanie. Please visit our website for information about this event, and stay tuned for more "Shred Event" dates and locations during the course of the year.

How Young Adults Can Save for Retirement in Today's Economy

Considering the weight of debt and lack of job security that young adults are facing, it makes sense that retirement may not be the first thing on their minds.
While the U.S. job market and economy is slowly recovering from the Great Recession, those in what is known as the "millennial generation," who were born after 1980, have
more debt and lower wealth than their parents had.
According to a Pew Research Center survey conducted in February 2014, Millennials are "the first in the modern era to have higher levels of student debt, poverty and unemployment, and lower levels of wealth and personal income than their two immediate predecessor generations (Gen Xers and Boomers) had at the same stage of their life cycles."

Retirement Planning Tips for Young Adults

  • Enroll in a 401(k) program. If you're eligible to enroll in a 401(k) program through work, be sure to sign up and participate. Your contributions are deposited into the account before they get taxed, saving you more in the long run. Further, this option makes saving automatic with every paycheck.
  • Open a Roth IRA. If you don't qualify for a 401(k) plan, consider opening a Roth IRA. You can set up automatic deposits into the Roth IRA from your bank account, similar to a 401(k).
  • Save wherever you can. Keep track of your bills and cut out discretionary expenses when possible. For example, cook at home instead of going out to a restaurant. Record your spending on expenses such as travel, shopping, and television for a month. Then add those savings directly into a savings account. Watch how much it grows in a year.
  • Get professional help. Seek out trusted financial advisors, and don't get intimidated by personal finance jargon. Even in a struggling economy, being proactive about retirement is feasible. The sooner you start, the better your future.
When you're in your 20s, retirement seems like it will never come. But it will quickly sneak up, and it's important to be prepared. Imagine your perfect retirement-where do you want to live and what do you want to do? Start saving now to make your vision a reality.
A professional advisor with the PCB Investment Center can help you figure out a specific plan that's right for you. Call Mike Peterson or Jon LaVenture at (800) 795-2151 today.

Several Tips Following the August Theft of 1 Billion Passwords by Russian Hackers

The theft of more than 1 billion passwords and 500,000 email addresses by Russian hackers is another reminder that you need to take preemptive action to avoid being victimized.  Here are several recommendations:

  • If you have used the same username and password for your online financial accounts as you use for other online websites you should consider changing those credentials.  Although initial reports say that financial institutions were not the target of the hackers who stole passwords from over 420,000 websites, people tend to use the same username and password for multiple accounts.  This potentially leaves you vulnerable to unauthorized access to your funds.
  • We also encourage you to be vigilant and review your accounts.  Any unusual activity should be reported to us as soon as possible.
  • You should also be aware of phishing scams that may try to take advantage of security concerns that usually occur with news of data breaches, especially breaches of this scale.  Do not respond to emails with links claiming that your account is in jeopardy.
  • If you do have concerns with any service provider due to the possibility of a compromised account, contact those businesses directly to avoid becoming a victim of a scam.
  • If you are unaware of this news story, you can read the article from the New York Times here.

How to know what makes for a bad password

Because the attacks described above are becoming increasingly more common, you don't want to use anything in your password that's personal and easy to guess.  Keep in mind the following don'ts:

  • Don't use only letters or only numbers.
  • Don't use names of spouses, children, girlfriends/boyfriends, or pets.
  • Don't use phone numbers, Social Security numbers, or birth dates.
  • Don't use the same word as your log-in or any variation of it.
  • Don't use passwords with double letters or numbers.

Frequently Asked Questions:  "Why Should I Complete My Own Deposit Ticket?"

When you add money to your bank account you will need to fill out a deposit slip before approaching the teller. This tells the bank what to do with the funds, and helps create a paper trail for the transaction.  
Completing the deposit ticket yourself ensures that you get everything done correctly; just the way you want it. If you are unsure how to complete a deposit ticket, we would be happy to show you how.
Helpful Hint:  If you cannot remember your account number, try adding it to your cell phone contacts under someone who reminds you of the bank, for example... your favorite teller's name.

Employee Anniversaries:

The success of The Peoples Community Bank is largely dependent on having loyal and dependable staff members, committed to serving their communities. We thank the following employees who will be celebrating anniversaries with the bank in September/October.

  • Beckie Lucey, Arena Personal Banker.............................24 years
  • Mary Brey, Spring Green Call Center..............................14 years
  • Carol Meise, Data Processing.........................................13 years
  • Kris Darrow, Mazomanie Call Center..............................13 years
  • Rena Hohneke, Spring Green Customer Service.............9 years
  • Deb Pinchard, Barneveld Customer Service....................9 years
  • Jay Heibel, Chief Financial Officer...................................2 years
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.