Bank News & Financial Literacy

I’m sure many of you reading this have merrily (or otherwise) begun your annual holiday shopping adventure. By the time you read this, Black Friday will have come but not gone, as of course it’s no longer one day and is not limited to showing up with a mob of shoppers at a bricks and mortar store. You now can conveniently become cyber-frustrated as well, especially when what shows up on your doorstep isn’t remotely what you thought you ordered.

Don't let scammers steal your holiday cheer! As we dive into the festive season, it's important to stay vigilant against scams that tend to increase during this time of year. Here’s what to watch for this holiday season.

The holiday season is a wonderful time to embrace the spirit of giving, and Giving Tuesday (December 2) offers the perfect opportunity to do just that. This special day is dedicated to generosity, collaboration, and celebrating acts of kindness. It’s a heartfelt reminder that the true essence of the holidays lies in fostering community, building connections, and making a meaningful impact.

The penny has been in our pockets for more than 100 years. Now, the little copper coin is rolling out of production. Earlier this year, the U.S. Treasury announced that it will halt the making of new pennies once the current supply runs out, which is expected by early 2026. The main reason for the directive is cost. It currently costs nearly four cents to mint a single penny, far more than its face value. Countries like Canada, Australia, and New Zealand have already eliminated their lowest-denomination coins with little disruption, and the U.S. is preparing to follow suit.

Presenting a vision of what the future might look like has been an obsession for creative minds in science, literature, and popular culture for centuries. In recent years, an endless string of movies has been produced by Hollywood depicting various forms of the apocalypse, whether in the form of a natural disaster, an alien invasion, worldwide epidemic, or just about anything else you can imagine. My personal favorite is the classic “The Terminator”. In the highly unlikely event you haven’t seen it, the plot centers on the premise that an artificial intelligence (AI) system named Skynet becomes “self-aware” and on its own initiates a nuclear holocaust.

Thanksgiving is a time for gratitude, family, and of course, a delicious meal. However, with food costs on the rise, hosting a traditional feast can put a strain on your wallet. The good news is you don't have to sacrifice tradition to stick to a budget. With some smart planning, you can create a memorable dinner that everyone will love without overspending.

October 16 is Get Smart About Credit Day—a perfect time to learn how credit works and why it matters for your financial well-being. Here’s what goes into your score, why it’s important, and how you can build healthy credit. While the exact formulas are unknown, credit scoring models like FICO and VantageScore generally focus on five main areas: payment history, amounts owed, length of credit history, credit mix, and new credit.

Presenting a vision of what the future might look like has been an obsession for creative minds in science, literature, and popular culture for centuries. In recent years, an endless string of movies has been produced by Hollywood depicting various forms of the apocalypse, whether in the form of a natural disaster, an alien invasion, worldwide epidemic, or just about anything else you can imagine. My personal favorite is the classic “The Terminator”. In the highly unlikely event you haven’t seen it, the plot centers on the premise that an artificial intelligence (AI) system named Skynet becomes “self-aware” and on its own initiates a nuclear holocaust.

A Home Equity Line of Credit, or HELOC, lets you borrow money using the equity in your home as collateral. Unlike a traditional loan with a lump sum, a HELOC works like a credit card: you’re approved for a set limit, and you can draw funds as needed during a “draw period,” such as 10 years. During this time, you often only pay the interest.

Bank-related scams are on the rise in Wisconsin, prompting the Wisconsin Bankers Association (WBA) to issue a warning to consumers. These fraud schemes, often carried out by criminals pretending to be legitimate banks, are becoming more advanced, employing tactics like phone number spoofing. Phone number spoofing is when fraudsters will try to manipulate Caller ID to make it appear as if the call is coming from a trusted bank.

The end of summer always comes with both great football memories and lots of anticipation for the upcoming season. My subconscious mind knows when all levels of training camp start, without so much as a glance at the calendar. Football becomes a regular focus of conversation whether you’re at work, with friends, or even amongst strangers. This can be true even for those who might not consider themselves football fans—frankly, no one can escape it.

Every year on August 14, we celebrate National Financial Awareness Day – a day dedicated to understanding the importance of financial literacy. More than just numbers and spreadsheets, financial awareness affects nearly every aspect of our lives. Yet, too many people struggle to manage money effectively, leading to stress and long-term financial instability. Improving your finances doesn’t have to be overwhelming. Small, consistent actions can lead to significant changes over time. Below are some practical steps to help you get started:

Selling a timeshare can be challenging, and scammers often exploit this difficulty. These fraudsters pose as legitimate resellers or real estate agents, claiming to have buyers or guaranteeing a sale at a great price. They use fake credentials, websites, and documents to appear credible, sometimes even having prior knowledge about the timeshare. Once they hook you, scammers request upfront payments for fees like closing costs or taxes—typically via untraceable methods like wire transfers. Once paid, they may demand additional funds for unforeseen expenses, ultimately leaving victims with no sale and having lost hundreds or thousands of dollars.

There was a time when a “business” was almost exclusively a bricks and mortar structure—a place where employees were required to be physically present every day, and somewhere customers needed to personally visit to access the goods or services they sought. While this does not seem too long ago for the more “experienced” among us, there are now entire generations that would find that kind of world not only quite strange but also very inconvenient. Regardless of age, however, I’d venture to say that most consumers today would generally agree with that statement—at least on the convenience front.

Helping your child transition to financial independence in college is a significant step. For many students, this is their first experience managing money, and the learning curve can be steep. With the right tools, guidance, and encouragement, you can set them up for success. Here are some practical tips to get started.

When it comes to expanding or launching a business, one of the pivotal decisions to make is whether to buy an existing commercial property or build a new one from scratch. Both options have their own set of advantages and considerations. Below, we explore the key factors to help you make the right choice for your business.

Wisconsin Bankers Association Recognizes New Richmond Banker Tom Mews for Board Service. Tom Mews, president of FNC Bank, New Richmond, was recently recognized by the Wisconsin Bankers Association (WBA) for his service to the industry.

It’s easy to assume that everyone has some sort of banking institution they use to handle their finances. Truth be told, there are about 5.6 million households (4.2%) that don’t have a bank account or access to banking services, according to the Federal Deposit Insurance Corporation (FDIC).

Undoubtedly, you’ve been in a class, attended an informational gathering, or participated in an orientation meeting where the presenter requests that you ask any questions you may have while learning about the new subject or process. Invariably, you are given the assurance that “there are no dumb questions”. While I’ve proven that statement wrong on occasion, what I have found is that other folks in the room almost always do have the same question(s) you’d like to ask.

June is National Homeownership Month, the perfect time to reflect on how owning a home can shape your future in more ways than one. If you're weighing the pros and cons of buying versus renting, here are a few key benefits to keep in mind.