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GRANITE FALLS BANK The ADVANTAGE NEWSLETTER Issue 4 quarter 3 2009 PHONE: 320-564-2111 FAX 320-564-2114 www.granitefallsbank.com 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 www.granitefallsbank.com 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 anyone. 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 errors. 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. lake. 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 email@example.com. 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. PRESORTED 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 www.granitefallsbank.com Our experience in working with many financial resources means we can find a solution when others may not.
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