News Blog

Board of DirectorsApril 13, 2018 – Decorah & Cresco – Decorah Bank & Trust Company recently introduced two new members to its Board of Directors. Larry Stevenson, a recently retired senior ag and commercial banker from Decorah Bank; and Steve Holland, associate professor of economics at Luther College will provide knowledge and guidance from their education and professional experiences.

Given the pace and scope of change in the financial institution environment, the board of directors collectively and each member individually play a critical role in the overall success of a community bank. The diversity of experiences, education, views, and opinions help build a stronger community bank.

April 4, 2018 – Decorah & Cresco – It’s all part of a symbiotic relationship that community banks have with their communities. Funds taken in by community members are put to productive use by lending that money back into the Decorah, Cresco, northeast Iowa, and southeast Minnesota’s economic ecosystem—to local small businesses and residents just like you.

Put your money to work at homeWhen you deposit money at Decorah Bank and/or Cresco Bank, those funds are used to support local businesses, homebuyers, and everyday consumers. The proceeds from those businesses employ local residents, fund municipalities, support 98 local non-profit organizations, and continue the cycle of locally based economic growth.

As we recognize April as Community Banking Month we want to thank our customers for banking with us and urge those who we hope to count as future customers to consider what it means to bank locally and help sustain our communities today, tomorrow and for generations to come.

Stop by to discuss your financial situation and learn how a community bank can help you realize your financial dreams—and contribute to a more vibrant and sustainable economy in your community.

Remember—we’re all in this together. Community banks are only successful if our customers and communities are too. That’s why the community bank and its relationship business model have thrived for more than 150 years. We know what it takes to create successful local economies—join us in helping to build a more sustainable, vibrant economy here at home!

 

March 30, 2018 – Decorah & Cresco – Congratulations to the winners of the Easter coloring contest! Thanks to all of the children that participated. You really know how to make our lives more colorful! Winners of the coloring contest for Decorah (left picture) and Cresco (right picture) are as follows:

Contest winners

Bunny imageMarch 1, 2018 – Decorah & Cresco – Following tradition, Decorah and Cresco Bank’s Easter Coloring Contest is now underway. Parents, click on one of the pdf links below to download and print a coloring form or stop by either of our locations and pick up a coloring registration for your kids. Return by 4:00 pm on Monday, March 26th. Ages 10 and under. Happy Coloring!

Decorah Bank’s Coloring Form [pdf]

Cresco Bank’s Coloring Form [pdf]

Fraud Stop

March 1, 2018 – Decorah & Cresco – Every day it happens. Our Customer Support team visits with a panicked customer that experienced an attempt (or success) from someone trying to steal their good name, their money, or both. These are smart people getting taken advantage of through their phone lines, emails, internet browsing, and sometimes just by being human. It’s maddening – yes? YOU can fight back with prevention and knowledge. With the guidance of our fraud specialists and their hands-on experience working with government, credit, financial and advocacy organizations, we’ve brought together an exclusive collection of useful links you won’t find anywhere else. In one place, we’ve made it easy for you to directly access the information you need to know on our fraud resource page.

February 21, 2018 – Decorah & Cresco – Mmmm…the smell of money.CD Special-PB's

Do you hear the CDs sizzling? If you are looking for additional ways to save, you’ll enjoy these saving options that we are cooking up for you. No calories. No worries. The only weight gain will be in your wallet.

Enjoy an 11 month CD at 1.75% APY* and/or a 26 month CD at 2.00% APY*

Whether it’s just a few months or a few years, take advantage of higher saving interest rates than what you’ve seen in the market in a while and the safety and security of FDIC insurance. See how a CD works in this short video (3 minutes).

More CD terms are available. Contact a personal banker to help you set up the best CD options for your savings plan or open your new CD online within minutes here.

Certificates of Deposit (CDs) earn interest and have no monthly service charge. *Annual Percentage Yield (APY) effective as of 02/14/18 and subject to change. $2,500 minimum deposit. Withdrawals are subject to early withdrawal penalties which may reduce earnings.

 

 

Joe, Donna, & Ben

February 15, 2018 – Decorah & Cresco
Greetings!

Just as shopping locally is good for our local economy – supporting small businesses who are neighbors and friends, so too is banking locally. We know you have many choices about where to bank, both locally and online, so we work hard to earn and retain your business and trust.

The Bank had a solid 2017 with record loan growth fueled by some large ag and commercial projects. We couldn’t finance such initiatives without our good depositing customers which we appreciate! Thank you for trusting us to keep your money safe. When your deposit is made in our Bank that money multiplies many times over in the local economy as the bank provides loans.

Let’s say you make a $10,000 deposit, the bank holds approximately 10% in reserves to meet the needs of depositors wanting to withdraw funds and then lends out the other 90%. This $9,000 loan eventually makes its way back into the bank in the form of $9,000 in deposits. Banks hold 10% in reserve again and lend 90% of the $9,000, or $8,100 out. And this goes on over and over – $8,100, $7,290, $6,561 and so on. The original $10,000 that went into the banking system, through the issuance of credit, places nearly $100,000 into the economy. This is a simplification of what’s called the multiplier effect, and is how a bank works.

Our commitment to you is to offer excellent service and competitive pricing. If ever you think we failed in our promise, please call on us or any employee-owner and we will discuss your concerns with you.

Thank you for banking with us and we wish you a happy and prosperous 2018!

Retirement Just AheadJanuary 19, 2018 – Decorah and Cresco – If you’re following a retirement savings plan, you are ahead of 80% of us. There’s no easy way to say this: Americans are not saving for their futures. You can be in the top 20% of the population. The numbers for retirement savings look discouraging with the average couple only having put away $5,000 specifically for retirement. Only a third of working Americans are saving money in an employer-sponsored retirement account, according to U.S. Census Bureau as reported in Bloomberg. This means two-thirds of the population need to do their retirement planning outside of the workplace which could be intimidating or out of reach for some.

How much you save makes all the difference in retirement. To some, it means you can live in a beach house instead of a sand castle. Without savings, you could spend it working, and that’s if you’re lucky. Nearly half of retirees left work earlier than planned, most commonly due to  health issues, according to a recent survey by the Employee Benefit Research Institute. Additionally, retirement planning is not just how much you save, but how you save or invest that matters to help you prepare for most any situation.

Are you on track for your retirement? Here’s a self-check:

  • I have a good understanding of my finances.
  • I am confident in my cash flow for retirement.
  • I know my money saved is working hard for me.
  • I know when and how to take funds out of my saving tools when it’s needed.
  • My retirement funds will support the lifestyle that I want.

If you didn’t answer yes to all of these items, you have some decisions to make. You can do what you’ve been doing or put a solid action plan in place. Don’t miss this opportunity to make your money work hard for you. We have the tools to help. Connect with us.

 

Teddy Bear winners

Congratulations to our Christmas Coloring Contest winners! Top row (l-r): Jasera Tweten, Danika Mueller, Elia Atkins, and Brandi Nehls. Front row (l-r): Ryder Benzing, Gabe Danielson, Sawyer Zoulek, and Cayden Fritz. Not pictured: Lewis L. and Eloise L. Thanks to all the kiddos that participated in our coloring contest!

Picture of Muriel LenschDecember 26, 2017 – Decorah – Muriel Lensch is retiring from a 40-year career at Decorah Bank & Trust Co., most recently as a Home Mortgage Lender. Please join us for a retirement open house in honor of Muriel from 11 am – 2 pm on Friday, January 12, 2018, in the bank lobby.

“We are honored that Muriel spent her entire career with the Bank, and we congratulate her on her retirement,” said Home Mortgage EVP Joe Grimstad. Everyone is invited to stop by and enjoy this celebration of our friend and colleague.

To Muriel: Enjoy the new adventures of your future and savor the memories of the thousands of the people you helped during your career. We wish you all the best in your retirement.