Reverse Mortgages Now Available At EDSB by fionan


									Winter 200 5 - 06

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Reverse Mortgages Now Available At EDSB
EDSB is now offering Reverse Mortgages. Here’s what they are and how they can help you or someone you know, over age 62. What is a Reverse Mortgage? A reverse mortgage is a loan that enables homeowners, age 62 and older, to convert part of their home equity into tax-free* income without having to sell their home, give up title to it, or make monthly mortgage payments. The loan becomes due when the last borrower(s) permanently leaves the home.
*Consult Tax Advisor. Not all products available in all states.

The money is not considered income to you (the same as a conventional loan is not income) and will not affect Social Security or Medicare benefits. You can receive the money in one lump sum, in monthly installments, in a line of credit, or in a combination of these. You have the freedom and flexibility to spend the money any way you choose. You can never owe more than your home is worth. Your home can never be taken away from you by the reverse mortgage lender. The loan proceeds do not become due until the last borrower is no longer residing in the home. How much money can I get? The amount you can borrow depends on various factors, including but not limited to: your age, the type of reverse mortgage you select, current interest rates, the location of your home, the appraised value of your home, and FHA’s lending limits in your area. These are just a few of the most commonly asked questions. To get more detailed answers to any further questions you might have, such as the various types of reverse mortgage loans available, costs involved, etc., please call any one of our locations and we will connect you with someone who can answers all your questions.

Locations & Hours
3999 PENNSYLVANIA Dubuque, IA 52002 Phone: 563-588-9820 Fax: 563-588-2407 475 CEDAR CROSS Dubuque, IA 52003 Phone: 563-556-7700 Fax: 563-556-7705 242 WALL STREET East Dubuque, IL 61025 Phone: 815-747-3173 Fax: 815-747-6300 Lobby Hours Mon.–Thu. 8:30 - 5:00 Friday 8:30 - 6:00 9:00 -12:30 Saturday Drive-up Mon.–Thu. Friday Saturday

How does a Reverse Mortgage differ from a standard home equity loan? Both a reverse mortgage and a home equity loan use the equity built up in your home to provide you with readily available cash. They differ in that with a home equity loan, you must make regular monthly payments of principal and interest. With a reverse mortgage, you do not make any monthly mortgage payments for as long as you stay in the home. Also, there are no income, health or credit qualifications for obtaining a reverse mortgage. What are the advantages of a Reverse Mortgage? There are many, but here a few of the most significant: You remain in your home. You retain ownership. The title remains in your name and you are still responsible for payment of property taxes, utilities, maintenance, etc. No monthly mortgage payments.

8:00 - 5:30 8:00 - 6:00 9:00 -12:30

Telebank: 815-747-6800 Web Site:

Dates To Remember:
EDSB will be closed to enjoy the following holidays: Monday, January 2, 2006 New Year’s Day Monday, January 16, 2006 Martin Luther King Day Monday, February 20, 2006 Washington’s Birthday


Steve Bonnet

s 2005 has closed and 2006 has arrived, there are many events to reflect upon and be thankful for this past year. Our offices continue to see growth in customers, deposits and lending activity. It is such a true statement to say that ‘time flies’. We marked the first year of service from our Cedar Cross office, and the fifth year of business at our Pennsylvania Avenue office. Our Internet banking service has been a success as well. More customers are taking advantage of all our conveniences. I am personally thankful for the support of our Board of Directors, who guides us in our longterm planning and growth. Additionally, I am thankful for and proud of our nearly 50 employees who continue to work toward our collective goals and who show that “the bank with the personal touch” is far more than a slogan, but a way of doing business. Thank you, as always, for your continued support of our offices and the services we offer you for your banking, insurance and investment needs in your personal lives and your businesses. As we move forward in 2006, our challenges will be to earn the trust of our new customers, to stay flexible in times of war and economic change, and to continue our quest to develop the products and services our customers want.

EDSB Mission Statement
It is our mission to: > Provide friendly, personal service. > Provide quality financial products at a reasonable cost. > Provide shareholders with adequate return on their investment. > Attract and maintain professional employees. > Maintain a position of strength in our community. > Maintain commitment to our community.

Best wishes to you and yours in the New Year!

Sincerely, Steve Bonnet

Sign Up For Estate Planning Seminar
through First Community Trust
Did you know a majority of all Americans do not have proper estate planning at their death? And, on average, inherited assets are spent within 18 months without some guidance? What you don’t know can hurt you! You’ve worked hard to earn your money. Your family or a favorite charity is important to you. Make sure your will or trust is current and correct. Join EDSB & First Community Trust for a FREE SEMINAR to discuss how to make sure you won’t get hurt because of poor estate planning. Learn how to decide if you need a will or a trust. What are the recent changes in laws affecting you? If you have a trust, is it current and correct? Are your hard-earned assets properly invested?
The seminar will be held on Thursday, February 9th at 6:30 p.m. in the Community Room of EDSB’s Pennsylvania Avenue office. To register, contact any of our three locations:
Pennsylvania Avenue office, call Kim at 588-9820 Cedar Cross office, call Wendy at 556-7700 East Dubuque office, call Pam at 747-3173

Thank You for Giving
Thanks to everyone who participated in the Hillcrest Giving Tree program.

The motto of Hillcrest is “Help For Today. Hope For Tomorrow.” This short phrase has described the philosophy, goals and purposes of Hillcrest Family Services from its very beginning. They take pride in a long history (over 100 years) of service dedicated to strengthening the daily life of individuals and families, and providing them with the skills they will need for a brighter future. Thank you to all who participated.

Customer C O R N E R

In each quarterly issue, we highlight business customers who bank with EDSB. We’re proud of their success, and want to let you know about these Tri-state area businesses -- whom you might want to do business with some day.
and/or finishing of tile, wood, ceramic, and laminate flooring; attic, basement, garage and estate cleaning; removal of rubbish; handyman service; mold remediation; home and office cleaning; gutter cleaning; and garage and basement cement floor cleaning. In addition to these services they also have emergency services available for drain cleaning, leaky pipes, water and sewer damage clean-up, and fire and smoke damage clean-up. For more information on Kanndo and the services provided, you can go to their web site at or call 800/556-6168 or 563/556-6168. BIRCH HEARTH & HOME CENTER Bill & Tracy Birch have been in business since 1996. They and their 15 employees recently moved into their new “log cabin” style building at 565 Cedar Cross Road in early December. The beautiful showroom features 70 fireplace displays, patio furniture, lighting displays and heating and cooling equipment displays. They can assist customers through sales and service of heating and cooling systems, fireplace units, lighting for the home, and patio and outdoor furniture.

SPLINTER’S FLOWERS AND GIFTS Tonia Steiner (Christ) has been the owner and operator of Splinter’s Flowers and Gifts, 144 Sinsinawa, East Dubuque, Illinois, since 1997. Splinter’s is a full service florist delivering locally and also to Dubuque, Peosta, Hazel Green, Kieler, Galena, and surrounding areas. The store is a member of FTD, Teleflora, 1-800 Flowers and Floral Source, and is capable of delivery anywhere in the United States, Canada and overseas. Splinter’s can also decorate your home, decorate for weddings, including set-up at the ceremony and reception sites, or any other special occasion. Splinter’s is your florist for every “bloomin” occasion. Give them a call at 815-747-6860 or stop in to see the variety of product offered. KANNDO PROFESSIONAL SERVICES Tom Kann has been owner and operator of Kanndo Professional Services located at 950 Main Street, Dubuque, Iowa since 1988. Kanndo currently has 10 full-time employees and 5 part-time employees. They specialize in: carpet and upholstery cleaning; air ducts and dryer vent cleaning; cleaning

Employee News
Welcome to JANICE FULENWIDER, who joined EDSB as a Loan Administrator. Janice recently moved to Dubuque, and has over eight years of loan processing experience. She works in the Cedar Cross office. Welcome Janice! WENDY OHLOFF was promoted to Assistant Vice President/Office Manager. She oversees the operations of the Cedar Cross office.

PAM SCALES has been promoted to Lending Specialist. Pam will be training the next few months in consumer and mortgage lending. She will eventually be moving to the East Dubuque location and Tracy McDermott will be moving over to our Pennsylvania office. KAREN MEYER has been promoted to First Vice President of Lending. She will be the primary loan officer for fixed-rate lending as well as oversee compliance for the lending area. She works at the Pennsylvania office.

Congratulations to Wendy, Pam, and Karen!

Christmas Club Helps You Save N
ow that Christmas is over and it’s time to face the bills, we’d like to remind you about our Christmas Club. If you haven’t already started one, it’s not too late. You can open one anytime and start saving for Christmas 2006. You can even have the money taken directly out of your checking or savings account (so you won’t even miss it) and before you know it, you’ll have a nice little nest egg. The checks are sent out in October in plenty of time for Christmas shopping. By saving this money specifically for Christmas shopping, you can eliminate the “shock” of high credit card bills after Christmas. Stop in at any of our locations and open your 2006 Christmas Club account.


Is Convenient
If you haven’t already tried Internet banking with us, it’s never too late to sign up and take advantage of these conveniences: You can view your account detail and history whenever you want (this includes checking, savings, loans, CD’s, IRA’s). You can transfer funds between your accounts. You can download account information into personal accounting programs like Intuit Quicken or Microsoft Money. You can submit personal information changes such as address, phone, fax or last name change (if recently married). You have loan, retirement and savings calculators available for financial planning. You can change your passwords.

You can view stop payment records. You can order savings bonds. You can view and print your statements. You can reorder checks. You can set up personal reminders. You can e-mail messages to and from the bank. You can pay bills through Online Bill Pay. All of these services are available twenty-four hours a day, seven days a week at no cost to you. If you are interested in this time-saving, free service, please stop in, call one of our locations, or go to our website at to set up your account. You will have your financial information securely and safely at your fingertips 24 hours a day, 365 days a year without ever getting into your car!

Employee Fun
All work and no play? Not for our employees. Recently, they enjoyed each other’s company at our annual employee

bowling night, some of our Pennsylvania Avenue employees participated in the Chamber of Commerce Business PM at the Fairgrounds, and our offices got into the Halloween spirit by dressing up. Recognize any of these ‘ghouls’ and guys?

Employees Kevin Lutgen and Jim Knabel, along with Jim’s wife Laura, relax between frames at the employee bowling night

Pam Scales, Tanya Bottomley, Megan Tegeler and Kim Adams ‘sharpened’ their networking skills at the Chamber PM with their own guillotine.

Pennsylvania employees ‘clown around’ for Halloween

East Dubuque employees ‘lasso up’ some fun


Pam Timmerman, Editor

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