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									                                         GRANITE FALLS BANK
                                           The ADVANTAGE
 Issue 4 quarter 3 2009       PHONE: 320-564-2111              FAX 320-564-2114

By now you probably know the Granite Falls Bank has not been affected by the financial crisis in the general
economy. The message I would like to bring is we are a safe place for your deposits and we have money to
lend. The American Bankers Association recently gave testimony to the House of Agriculture Committee.
Some of the information they related is as follows:
    The overwhelming majority of agricultural banks are highly capitalized, sound, and profitable.
    The past decade has been one of the longest periods of financial prosperity for farmers in history.
    There are some big challenges as well: Shrinking global demand, falling commodity prices, and higher
    production costs have trimmed farm profits.
    Banks provide more credit to farmers and ranchers than any other industry. Since the
    collapse of the ag economy in the 1980’s, the banking industry has provided the majority
    of ag credit to farmers and ranchers. While other lenders greatly shrank their portfolios
    or exited the business altogether, banks expanded their ag lending.
We will continue to provide credit on a consistent basis during good times and not so good
times to farms, businesses, and families. We are financially strong and we are grateful for
the opportunity to be a primary financial resource for the people in our community.          John Virnig, President

                                                                                    New Drive-Up Lane
The new Safety Deposit Boxes are in and finishing work has                          In late August, the Granite Falls
begun! If you need a place to keep your documents or valuables, or                  Bank added a second drive-up lane
are considering switching to new larger sized box, please call Lindsey              to provide consumers an even
Conboy at 320-564-2111. We are able to set up an Automatic                                          faster opportunity
Payment for your rent, due each January, which withdraws lock box                                   to have       their
rent from your account. If you are interested in this payment option,                               banking needs met!
just stop by and sign up! Thank you to all of our customers for your                                This lane can ac-
patience during this long process; please feel free to stop in and take a                           commodate larger
look! We would like to say thank you to our local contractors for                   vehicles like trucks, vans, and
their work in this project ~ Steve Laraby, Oakridge Cabinet
                                                                                    SUVs. We would like to extend a
Company; Mike Aus, Aus Flooring & More; Alan Zempel, Zempel
Decorating; and Billie Weinhold, Bill’s Electric.                                   special thank you to the local
                                                                                    contractors who worked on this
                          Want to Go GREEN….                                        project ~ Gary Swanson, Swanson
                                                                                    Construction; Billie Weinhold,
 If you are receiving a Newsletter via US Postal mail, but prefer to go green you
                                                                                    Bill’s Electric, Mike Richter, The
              can receive the newsletter via email or view it Online at
                                                  Sawmill, Inc; and Alan Zempel,
                                                                                    Zempel Decorating.
 To make changes ~ Please contact Jennifer Kattevold 320-564-2111 xtn. 117
Page 2

                           Each check order contains a number of security features to help deter check fraud.
                         Your account information is secure. We will not sell your account information to
                 We guarantee the documents will process efficiently - ensuring accurate posting to your account.
         If you purchase checks from a direct check printer you may be responsible if they don’t meet accepted
         industry standards.
         Each order offers assistance if your checks are ever lost or stolen.
         We take care of the work for you; just let us know you need more checks and we will get them to you.

                                                         YOU AND YOUR CREDIT
                                         Having and maintaining good credit makes life much easier when
                                         opening a checking account, applying for a car loan, even buying your
                                         first home. Generally speaking, there are three steps you can take to
                                         ensure your credit. The American Bankers Association provides some
Pennies ~ Pennies ~ Pennies
                                         guidance on managing your credit ~ Correct, Improve, and Monitor.
   The composition of the
                                             Correct your Credit Report when it is in error. The three major
   penny is 97.5 percent zinc                credit reporting agencies, TransUnion, Experian, & Equifax,
   and 2.5 percent copper                    provide a history of how you’ve paid your debts and other bills.
                                             Federal law requires them to investigate any complaint you bring to
   There have been 11
                                             them, in writing, sending you a prompt response and correcting any
   different designs featured
   on the penny
                                             You can even Improve your credit score. Some hints: pay bills on
   The US Mint produces                      time, keep credit card balances low, consider closing unused
   more than 13 billion                      accounts, and payoff your debit rather than moving from card to
   pennies annually.                         card. It will improve your chances of being offered credit and at a
                                             better rate.
   The average penny lasts
                                             Visit the Credit Reporting agencies annually for your free report.
   25 years
                                             This will help you Monitor your credit year-round by ordering a
                                             report from each of the three once every four months.
                                                                                                                                 Page 3

                                           Employee Profile
     17 years: Michelle Lund             Most Known for: a happy, boisterous
                                         attitude, having fun, and a personal in-
Michelle and her family, husband Steve
                                         terest in her customers’ lives
and children, Nicholas and Charlynn
live in Granite Falls. Her husband
Steve is employed at Marr Valve Com- Most Memorable Moment at the
pany and her children attend the YME Bank: When Steve and Mary Jane
School district. Michelle is most recog- Lindholm purchased the bank in Sep-
nized for her friendly greeting as the tember 1996 and working out of the old
bank’s Receptionist, but after so many King’s Department Store while the
years she can service any customer need bank was being remodeled
from Notary Services to servicing loan
customers; occasionally stepping in the A recent family Vacation: I’m not           Favorite Meal: medium rare grilled
teller window to assist customers, one to take big vacation trips but in the        Sirloin Steak with a baked potato
including Saturday drive-up responsi- summer my vacation is spent relaxing at       loaded with cheese, sour cream, and
bilities.                                Lake Shetek, where my family rents a       bacon
                                         seasonal campsite at Edgewater Bay
Favorite Past Time: time with family Campground. In the winter we spend a           A Famous Person to have Dinner
and friends; our Dachshunds, Toodles family weekend in a hotel with a water         with: Jon Bon Jovi
and Maddie; and at my weekends at the park.

In these economic times families 2. Don't lower your home insur-                         Contact Steve Virnig to schedule an
are looking at every possibility for     ance for the wrong reason.                  informational review at 320-564-2111
cutting back expenses; insurance         The price of your coverage is               or email
coverage is one area. In the last        based on the c os t of
newsletter, we reviewed the pros         rebuilding. Too often, people
and cons of Car Insurance cover-         wrongly believe they can lower
                                         their coverage because the
age; the first in a three part series in
                                         value of their home has
saving money without reducing            declined .
one’s insurance policies.
                                 3. Review any riders. You may
The second part in the series will  have asked for additional
review the pros and cons of Home    coverage for jewelry,
Owners Insurance.                   silverware or artwork when you
                                    set up the policy. If you no
                                    longer own those items,
1. Take advantage of improve-
                                    remove the riders.
   ments that you have made. If
   you have modernized your 4. Consider raising your deducti-
   home, you may get a break. If    ble. You should also ask about
   you haven't made any recent      discounts. For example, if you                  *Insurance and Investment products are not a deposit
   changes, consider upgrading      are 55 or older and retired, you                or other obligation, or guaranteed by the bank or its
                                                                                    affiliates. Insurance and annuity investments are not
   electrical, plumbing and         may qualify for a discount,                     insured by the FDIC or any other Federal Government
   heating systems. They improve    says the Insurance Information                  Agency of the U.S., the bank, or any of its affiliates.
                                                                                    Insurance investment products may lose value. F&M
   safety and wi ll reduc e         Institute.                                      Insurance Agency is an affiliate of the Granite Falls
   premiums.                                                                        Bank.
             Granite Falls Bank                   STANDARD
                                              U.S.POSTAGE PAID
             PO Box 8
                                                MARSHALL, MN
             702 Prentice Street
                                               PERMIT NO. 86
             Granite Falls MN 56241

             Phone: 320-564-2111
             Fax: 320-564-2114

Our experience in working with many financial resources
means we can find a solution when others may not.

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