FNC Bank News
April is Community Banking Month -- a time to recognize the unique spirit and unwavering commitment which makes community banks the foundation of our cities and towns across the state.
What sets community banks apart?
- An independent community bank is a locally owned and operated bank, where bank loans and deposits help benefit local businesses and communities.
- Community banks are the primary source of lending for small businesses and farms, providing roughly 60% of all small business loans and more than 80% of agricultural loans.
- Community banks are preferred by small business lenders, with high customer satisfaction rates compared to large banks, finance companies, and online lenders. 81% of community bank loan applicants were satisfied, compared to 68% at large banks, and 48% at online lenders.
- Community banks contribute tax dollars that help maintain local municipalities.
- Research has shown average fees for checking accounts and other depository services are lower at community banks than at large, multi-state institutions.
- Community banks give back to the community by supporting local events, programs, and organizations.
- Community banks reinvest deposits almost exclusively within their local communities. Nearly 95% of the bank’s investment is put back in your community through residential mortgages, small business loans, agricultural and student loans.
- Because community banks are themselves small businesses, they understand the needs of small-business owners.
- Community banks’ boards of directors are made up of local citizens who want to advance the interests of the towns and cities where they live and where their banks do business.
Celebrate Community Banks With Us!
Thank you to everyone who took the time to complete our annual customer satisfaction online survey during the first quarter 2024.
We are excited to announce the results!
- 92% of survey respondents gave FNC Bank an overall rating of 7 or greater (on a scale of 0-10). Typically, a rating of 7 or greater is considered a satisfied to happy customer.
- 94% ranked their customer service experience as good to excellent
- 88% ranked our product offerings as good to excellent
- 83% ranked our online & mobile banking platforms as good to excellent
Survey results are calculated using a nationally-recognized scoring system (Net Promoter Score). FNC Bank had a score higher than our industry average, and classified as “excellent” by Bain & Co (the source of the NPS system).
FNC Bank truly values the feedback we received from this survey! We are currently reviewing all comments and recommendations to better understand what we do well and what areas may need improvement.
We appreciate every one of our customers and truly value your input!
Our Food Drive Success Story: A Community United Against Hunger
During the month of March, FNC Bank embarked on a mission to combat hunger through our annual Food Drive. We set a goal of collecting 500 non-perishable goods for those in need throughout our local communities. Not only did our customers, employees and community members rally in support of this noble cause, they exceeded expectations. The food drive successfully gathered a total of 914 non-perishable items, shattering our initial objective.
The overflowing boxes of canned soup, dried grains, cereal, and other essential items at each of our branch locations are testament to the kindness that permeates our town. Every can, every box represented a beacon of hope for the individuals and families facing food insecurity.
The goods are now being distributed to local food shelves, directly impacting those in need and reinforcing the importance of civic responsibility and collective action. However, the march against hunger does not end here; it is a continual endeavor. Still, for now, we celebrate the success of our recent food drive, a shining example of what we can achieve when we come together for the greater good.
New Online & Mobile Banking Coming Soon!
FNC Bank is excited to announce an upgrade to our online banking and mobile banking platforms effective July 25, 2023. This upgraded platform will provide an improved user experience, updated features & layout, and new tools & functionality. You’ll soon be able to take advantage of…
- Two-factor authentication for greater security. Users will now have two layers of security to protect their sensitive online and mobile banking data.
- Enhanced application tools including a search function by transaction description, remote deposit enrollment, ability to attach receipt images, and advanced card controls.
- Additional account setting options such as hide/show accounts and tagging & adding notes to transactions.
- Availability to set up external accounts for effortless account transfers between owned accounts at other financial institutions.
- Update user profile information including email or phone number, request change of address, and obtain forgotten username.
- Coming Soon! In-app conversations. Securely communicate with FNC Bank staff, tag accounts or transactions you have questions about, and share confidential data safely. In-app conversations provide greater security than communicating with FNC Bank via email or phone! Watch for this add-on in the coming months.
At FNC Bank, our priority is delivering an exceptional customer experience. That's why we're constantly investing in innovative tools to enhance your banking journey. Log in on 7/26/23 to discover our upgraded online banking and mobile banking services designed to provide you with a superior banking experience.
FNC Bank congratulates President Tom Mews on being chosen as BankBeat’s 2023 Rising Star in Banking.
BankBeat looks for bankers who have made outstanding contributions to their bank, industry and community, and who are poised to continue to make substantial contributions for years to come.
We are proud of Tom’s accomplishments and his unwavering dedication to FNC Bank and community banking as a whole. His contributions to our bank over the past 22 years is remarkable and we are honored to have him part of our team.
Congratulations on your achievement, Tom! Well deserved!!
Read more at https://bankbeat.biz/rising-stars-2023-tom-mews-first-national-community-bank/
FNC Bank's Community Shredding Events were a huge success!
What is a Reality Fair?
A reality fair is a simulation of an adult’s financial life that provides youth with an interactive experience for making real world financial decisions and managing money. Participants experience what it is like to have an account at a financial institution, decide how to use their money, obtain a loan, manage debt, and more. For students, a reality fair can be an eye-opening, exciting, and fun way to build financial knowledge and skills.
It is with great sadness that we announce the passing of John Soderberg on March 13, 2023. John will be greatly missed by his family, friends, colleagues, and community members.
A lifelong resident of New Richmond, John was an active member of many local organizations and contributed countless hours in support of the community that he called home. The fact of his generosity was well-known, but the great extent of it was not. Taking credit for anything was simply not in his nature. John will be remembered for his empathy and concern for those around him in the community that he loved. Thank you John, and farewell.
FNC Bank is proud to announce we have been named the FY2022 Wisconsin SBA Volume Lender Award for:
“Lender with Most Approved 7(a) Loans”
Asset size: > $200 million - $300 million
The U.S. Small Business Administration’s Wisconsin office is recognizing 14 lenders in 15 volume and specialty categories for FY2022, the twelve months ending Sept. 30, 2022. With total SBA-backed FY22 lending in Wisconsin reaching more than $789 million, community lenders again played a strong role with 12 of 15 awards going to Wisconsin-based lenders.
“SBA-backed lending in Wisconsin saw its second highest level in recent years with $789 million delivered to small business owners through SBA’s core lending programs in FY22. While a drop from the more than $1 billion in loans last year, lenders are still delivering much needed capital to Wisconsin’s startups and more seasoned entrepreneurs,” stated Eric Ness, SBA’s Wisconsin district director. “These high-volume lenders showcase the importance and continued availability of SBA-backed financing for small businesses at all stages of growth through Wisconsin’s many commercial and community banks, credit unions, CDC's, CDFI’s and other financing institutions.”
The SBA will recognize FNC Bank along with other volume lenders at the 2023 Wisconsin Lenders Conference hosted by UW-Stevens Point on May 18.
Your Checking Account Just Got Better
FNC Bank is happy to announce our checking accounts will now have access to the MoneyPass ATM network. The following are frequently asked questions.
What is MoneyPass?
MoneyPass is an ATM network allowing our debit cardholders access to 37,000 convenient surcharge-free ATMs nationwide.
Why did FNC Bank add MoneyPass?
Providing MoneyPass access further enhances our checking account options and allows for greater benefits to our customers. There is no charge to you for the addition of MoneyPass. FNC Bank has assumed these costs as an additional perk to our customers. Your surcharge-free ATM options just went from 4 (at each of our branches) to 37,000 nationwide.
How will this affect my checking account(s)?
MoneyPass is now available to all FNC Bank checking account cardholders.*
When will MoneyPass launch?
MoneyPass is live now so debit card customers can take advantage of these additional ATMs immediately.
How do I find MoneyPass ATMs?
You can locate MoneyPass ATMs at https://moneypass.com/atm-locator.html. You may also continue using our branch ATMs without charge.
FNC Bank hopes you enjoy your expanded ATM options! If you have any questions, please contact us.
*Does not include Health Savings Account (HSA) debit cardholders.
• $2,500 The Sharing Tree, Inc.
• $1,500 Kinship of Polk County
• $1,500 Friends of Osceola Library, Inc.
• $1,000 Somerset Elementary School
Effective February 2022, FNC Bank has moved to renewable energy sources to power each of its four branch buildings.
The bank partnered with New Richmond Utilities (serving its New Richmond branch), and Xcel Energy (serving its Hudson, Somerset and Dresser branches) to shift to 100% renewable energy sources. This approach meets sustainability goals using dedicated wind, solar and biogas resources, and achieves the bank’s goal of fully powering all FNC Bank buildings with 100% renewable energy. The decision to move to a cleaner power source is consistent with the bank’s commitment to social responsibility within the communities is it serves.
"FNC Bank is very proud to take full advantage of energy programs through the local utility companies to power our branches with 100% renewable energy. We feel that choosing this path is not only our responsibility in furthering the larger goal of energy sustainability, it also fits squarely with our 100+ year tradition of being community-minded in everything we do. These energy partnerships enable all of our buildings to be powered 100% by renewable energy."
The bank’s move to 100% renewable energy will result in the annual equivalent of 98 cars being taken off the road, 122.5 acres of trees planted, or 180 tons of coal not burned.FNC Bank was recently certified as a Family Friendly Workplace. Family Friendly Workplaces (FFW) is a non-profit organization partnering with businesses in St. Croix, Pierce, and Polk counties to promote family friendly policies and practices.
The Family Friendly Workplace Certification® recognizes workplaces with practices that directly support employee families as well as provide funding to family supporting programs. As part of the certification process, FFW conducted a thorough review of FNC Bank’s human resources policies and practices, awarding points for policies and practices which support families. FNC Bank received the highest Gold Level Family Friendly Workplace Certification for their dedication to employees and their families.
“FNC Bank is committed to supporting our employees, their families, and the communities we are so proud to serve,” said Scott Soderberg, CEO of FNC Bank. “Becoming a certified Family Friendly Workplace is directly in line with our values and practices, and we hope this encourages others in our communities to think about how they might work to help support families as well.”
As part of their commitment to supporting Family Friendly nonprofits, FNC Bank recently donated funds to Five Loaves Food Shelf in New Richmond through the FFW nonprofit conduit.
“We have made it a focus of ours to support organizations addressing food insecurity in our communities. This donation continues that effort, and we are proud to celebrate and empower those working to provide this critical assistance to those in need,” said Scott.
“FNC Bank’s certification is a natural fit, and we hope their leadership will encourage others to become certified,” said Neil Kline, Chief Evangelist for FFW.
FNC Bank is excited to announce the promotion of Sheri Soderquist to Chief Operating Officer. As FNC Bank’s first COO, Sheri will be responsible for overseeing daily branch operations including front-line staffing, facilities management, and bank security. She will use her skillset to develop and implement strategies for delivering a superior customer journey through efficient processes, enhanced security measures, adoption of a service culture, and expansion of account relationships.
Sheri has been with FNC Bank since 2012 and possesses a wealth of experience and knowledge vital in this new position. Her financial services career expands across consumer, commercial and mortgage areas giving her a firm understanding of financial products paired with exceptional business development and relationship management skills. As a Graduate School of Banking graduate, Sheri embodies an additional skillset to evaluate and execute operating plans, talent goals and other corporate growth objectives.
“We are excited to expand our relationship banking efforts with the addition of a COO role. This is a significant step for the bank, specifically designed to improve the way we do business” says Scott Soderberg, CEO of FNC Bank. “Sheri is uniquely qualified to do just that, based on her extensive hands-on experience at all levels of banking. We are confident in her abilities to develop strategies that will enhance the customer experience at FNC Bank.”
On a personal level, Sheri is a known leader in the communities we serve. She is an active member of the New Richmond Chamber having served on the Chamber Board since 2017 and as a Chamber Ambassador since 2012. Sheri also holds Treasurer roles for the Town of Richmond in St. Croix County since 2011 and on the board of directors at New Richmond Heritage Center since 2016.
In her most recent role of Vice President Commercial Lender at FNC Bank, Sheri will continue to serve her business customers until the bank has onboarded another Commercial Lender to assume those relationships. Her office will remain at the New Richmond branch; however, she will be frequenting the Somerset, Hudson, and Dresser locations to better serve our customers throughout western Wisconsin.