Summer is finally here – well, almost – and along with the sunshine and beautiful temperatures we also see an increase in our spending. We are here to give you some easy and quick ways to save money. Follow these tips during the summer and watch your money grow.

Did you know that your air conditioner can raise electricity bills greater than heat raises gas bills in the winter? Here are a few tips to help save money on your electricity bill.

Keep your windows closed during the hot summer days. By not letting in that hot stuffy air your house will stay at a cooler temperature.

Use fans whenever possible. While we know that fans use electricity too they do not use close the amount that air conditioners do.

If you know no one will be home for the day turn up the air conditioner. Try drying your laundry outside. Not only will you not be saving electricity, but your clothes will have that summer fresh outdoor scent.

Here are a few more money saving ideas that will save you money and are enjoyable to do!

Many places hold farmers markets where you can go and get fresh fruits and vegetables. These markets are not only free but have fun and unique things to check out. Also, summer produce is much cheaper than the cost of produce in the winter months. Use the well priced produce for cold soups as well as deserts and freeze some for the winter months.

Going out and doing things during the summer can become expensive so why not hit up the community events that typically are free such as summer concerts, community picnics, fireworks, and many other activities.. Check out newspapers, internet sites, or Choice Bank’s community calendar for a list of free activities.

We all know when spring and summer hit the yard sales begin. Yard sale shopping can be a ton of fun; you never know what kind of treasures you may find and you will be spending a lot less!

Follow these money saving tips and you will watch your extra money grow! With all that extra money you may even was to open a savings account at your very own Choice Bank! Now go on your way to being an amazingly wise summer saver.

Have more money saving tips? Post comments on our blog anytime!

May 20, 2009
Deposits at FDIC-insured institutions are now insured up to at least $250,000 per depositor through December 31, 2013. On January 1, 2014, the standard insurance amount will return to $100,000 per depositor for all account categories except for IRAs and other certain retirement accounts which will remain at $250,000 per depositor. (This supersedes the October 3, 2008 changes.)

The extension announced on May 20, 2009, does not apply to the Transaction Account Guarantee Program. The unlimited coverage under the Transaction Account Guarantee Program is only in effect for depositors at participating institutions through December 31, 2009.

www.fdic.gov

Wisconsin banks are lending and outperforming their peers nationally
WBA Press Release, April 30, 2009

MADISON—The lending practices of Wisconsin’s FDIC-insured depository banks are generally misunderstood. Here are the facts:

• Total loans by Wisconsin banks rose 5.7 percent in the 4th quarter of 2008 (most recent figures available).
• The consolidated loan-to-deposit ratio in Wisconsin is 108 percent, compared to a national ratio of 85 percent. This means the average bank in Wisconsin is lending $1.08 for every dollar received on deposit.
• The TARP funds held by 13 Wisconsin banks (less than 5 percent of all Wisconsin banks) participating in the Capital Purchase Program (CPP) are voluntary, not a bailout. Banks must make quarterly 5 percent dividend payment to the U.S. Treasury. Wisconsin CPP participating banks will pay over $123 million per year in CPP dividends to the U.S. Treasury.
• Lending is how banks make money. Simply put; Wisconsin banks, whether they are participating in CPP or not, are lending.
• Studies on credit availability conducted recently by the Federal Reserve Bank of Minneapolis and the National Federation of Independent Businesses show that banks continue to lend to “creditworthy” small businesses, but that fewer businesses meet that definition due to impaired cash flow or devalued collateral.
• There are factors beyond banks’ control affecting credit availability, including the skyrocketing cost of FDIC deposit insurance premiums; mark-to-market accounting rules; a recent 15 percent corporate tax increase; intense regulatory pressure to tighten lending standards; and lower loan demand.
• There are also fewer overall total sources of credit due to the exit from the marketplace of many non-bank lenders. Case in point, the so-called “shadow banking industry,” which included insurance companies and mutual funds, accounted for 33 percent of the credit in the U.S. economy compared to 22 percent for FDIC-insured depository banks. The shadow banking industry has all but evaporated during the current economic downturn. Banks are slowly filling the vacuum but can’t immediately bridge the entire void and it is unfair for critics to suggest otherwise.

The numbers cited above prove that Wisconsin banks are lending, but they are doing so prudently. Banks didn’t make the risky loans during the lending boom and it is irrational to think they would now.

PRESS RELEASE
May 11, 2009
FOR IMMEDIATE RELEASE
For further information contact
Ann Padley, Choice Bank
Director of Communication Services
(920) 267-8025

Choice Bank Customers Boost Savings in a Tough Economy

May 2009 – Oshkosh, WI – In a tough economy Choice Bank helps customers boost Certificate of Deposit Rates with the innovative Choice Circle Certificate of Deposit Rewards Program. Introduced at a time when other institutions are cutting back, Choice Bank is forging full speed ahead and is eager to remind the public that customers still come first! “As a strong, stable community bank this program is our way to help the community see better returns on their investments,” says Keith Pollnow, President & CEO of Choice Bank.

Choice Bank’s commitment to Smart Saving is nothing new. “Since the day we opened our doors, Choice Bank has provided top of the market return on savings accounts, encouraging savers young and old. Enriching Certificate of Deposits is just the next step to promoting Smart Saving in our community,” says Pollnow.

The Choice Circle program is based on a simple fixed and variable rewards system. Customers enrolled in the program receive a rate increase on every fourth Certificate of Deposit (CD) they open or renew at Choice Bank. In addition, they have the opportunity for a rate increase on every CD by spinning the Choice Circle wheel. Any customer, new or existing, with an active Choice Checking or Money Market account is eligible. That’s it. No catches. No tricks.

“The Choice Circle is not only a great way to reward our loyal customers but acts as a tool of differentiation in our market allowing increased value for our shareholders,” said Pollnow. To affirm this value based approach Choice Bank launched the program to shareholders and customers alike on April 28, 2009, the day of their Annual Shareholders Meeting.

Choice Bank, established in July 2006, is located at 2450 Witzel Avenue, Oshkosh with a second location at 2201 Jackson Street, Oshkosh. Choice Bank is a locally owned and operated community bank dedicated to making a difference in your community! By providing free checking, savings, local business lending and home loans we have become the fastest growing bank in Oshkosh!

Choice Bank…Your Community, Your Choice!

Member FDIC Equal Housing Lender
For additional information about Choice Bank, call (920) 230-1300 or visit www.choicebank.com.

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I am proud to introduce to the public the Choice Circle! Choice Bank’s Certificate of Deposit rewards program!

The Choice Circle program allows our CD customers with an active checking or money market to receive rate increases on their CDs. On every fourth CD you will get a .15% rate increase. Then on every other CD you can spin the wheel for a chance to receive a .05% to .10% rate increase!

Learn more!

Online:
http://choicebank.com/Pages/choicecircle_page.html

By Phone:
(920) 230-1300

In Person:
2450 Witzel Ave
or
2201 Jackson St
Oshkosh

Coming Soon!
Choice Circle
Certificate of Deposit Rewards Program

With Choice Circle you could earn rewards for each Certificate of Deposit that you open with Choice Bank. I can’t give away all the fun right now though! Watch for the launch of this new program on April 28th. We’ll post full details, rules, membership info and disclosures.

It’s official. After trials, tribulations, “I like this,” “You like that,” no drums, more snapping, less bass, more soprano… we have finally settled on our very first musical jingle! We are happy to put a song to the name and excited to add yet another piece to the Choice Bank Brand.

Grab a sneak peak here: Choice Bank Jingle or just keep your ears open for its big radio debut on 1490 WOSH during the Parade of Homes, April 17-19 and 23-26.

Happy Easter Everyone!

As we built this bank from the ground up, we know first hand the determination and planning it takes to start and grow a business.

http://www.choicebank.com/business

So I received this phone call yesterday from a concerned client. In fact, I receive this phone call at least once a week. The big problem??? Gas stations. When you pull up to the pump and fill up your car with $25 in gasoline, you might expect them to take out $25. Makes sense right? Well, they don’t. When you pay at the pump, it automatically looks like you just purchased $50 or $75 in gas, if you had the chance to look at your account right away. Thus, many people are concerned because they don’t want the gas station to take all that money.

Long story short, they are not taking that money from your account. The gas station is putting a “hold” on your account for that specific amount, to make sure the funds are available before you drive away. Once the gas is actually posted to your account the next day, it will be for the original $25. So, they are inadvertently scaring us as consumers. In the end, I usually say, think of it as an illusion. It looks like the money has disappeared, but sure enough, it comes right back the next day, since it was never really gone to begin with. Hopefully this helps next time you are pondering things at the pump.

-Corey

Things have been busy in “Choice World” as one of my vendors recently dubbed us. We have some great new programs that you will all learn about soon! Since they are still in top secret production stages I decided to jsut share a little Oshkosh jem with you all to tide you over until the next post.

You all remember the filming of Public Enemies that took place here in Oshkosh, with none other than the famous Johnny Depp. Well, to pick us all up out the of snowy winter blues, the trailer is out helping to collect some heightened anticipation for the July 1st movie release. Take a look for yourself, you may even see your friend, neighbor, coworker or yourself walking by as a movie extra!

Enjoy!
http://www.apple.com/trailers/universal/publicenemies/