Coulee Courier

In today’s world, enhancing our business practices means giving you exceptional customer service and up-to-date product offerings. Our teams of professionals in every department are constantly improving and evolving to find thoughtful solutions to the ever-changing financial landscape. As the communities we serve change, it is in our DNA to continue to find ways to support local charitable organizations, business owners, and homeowners.

To continue to grow and support our customers and communities, we will reflect on our past and express gratitude for the milestones we have achieved. While we are grateful for these milestones, our story goes beyond the numbers. Each hundred-million-dollar achievement means we have met new people who trust us to help get their business across the finish line. Without our customers’ success, we would not be able to thrive as an organization.

Thank you for your continued support as we make the trek through 2024.

~Dirk Gasterland, CEO

Highlight Your Home’s Best Features



Declutter each room to make it more appealing to buyers

Highlighting your home’s finest features is essential for getting top dollar when ready to sell. The only way to highlight those features is by decluttering your home.

Why Should I Declutter?

“Clutter is overwhelming for potential buyers,” says Deon Oden, Mortgage Loan Officer (NMLS #7789) at Coulee Bank. House hunters may get the impression that the home isn’t well-maintained or feel storage space is inadequate. If buyers get a negative impression of the home, it can also negatively impact the price of your home.

Take the time to go room by room and clear the clutter. Once you start the organization process, you can either find a place to store items or remove unnecessary items from your home. Many donation centers can take your unwanted items thus making your move that much easier. By removing clutter, the buyer’s first impression will be positive.

Clear the Clutter

Oden says, “First impressions matter, so start in the front entryway.” Remove multiple coats, gloves, hats, and shoes. Store them in a closet in an organized fashion. If you need to buy storage bins to house off-season items, go buy them.

Foyer or Entryway

If you have a small desk or table for mail, go through all the mail and toss it or file it away. Oden believes it’s beneficial to throw away items that aren’t serving you. If you have old greeting cards, notes, or old bills, get rid of them. Pro tip: if you have a glass storm door, take glass cleaner and some paper towels to alleviate dusty, streaked glass doors.

Kitchen

After the entryway is free of clutter and clean, move to the kitchen. Other than the bathroom, this is one of the most important rooms in the house. This room needs to be spotless. Start by removing magnets hanging on the fridge as well as any family photos. Potential buyers are trying to visualize being in the home.

Next, remove any old or expired food. Go through the cabinets and drawers. Oden recommends allowing about 15 minutes per drawer and cabinet so you can wipe dust or old food spills and drips. Make sure to take out the trash, so there aren’t old sour food smells. Pro tip: Take this time to eliminate any unwanted pots, pans, and other dishes.

Bathroom

The bathroom is also one of the most important rooms to clean. Go through all the drawers and bathroom closets and remove unwanted make-up, toiletries, and expired medication. Remove all shampoo bottles and soap from the shower and clean the shower. Make sure to scrub the vanity and the toilet. Pro tip: clean the mirror and light fixture; light fixtures get dusty.

Living Room

This is a well-used area that collects a lot of unwanted toys, magazines, shoes, and various items. It’s time to clear off coffee tables and side tables and get rid of outdated magazines collecting dust. “For added appeal, strategically place throw pillows and blankets to make the room look stylish,” says Oden. Pro tip: Have your children help with toy removal. Show them how to put toys into a toy box or storage crate and encourage them to keep their room tidy.

Bedrooms

Clear off the nightstands and dressers. No more books, magazines, and lotion bottles in sight. Fold and put away clean clothes, then fill the laundry basket with dirty clothes and put it in the laundry room. Organize the closet and think about what to keep, donate, or throw away.

To declutter your home, use minimalism as your goal. When a potential buyer arrives in your home, you want to make a great first impression, so you can get top dollar for your property. 

Opportunities Are Endless With the Creation of Small Businesses



They shape our local community and the economy

Small businesses fuel innovation, create jobs, and serve their communities. They play a vital role in shaping society and offer opportunity and growth for their employees and the economy.

What Is a Small Business?

The Department of State describes a “small business” either in terms of the average number of employees over 12 months or average annual receipts. It is also noted that a small business:

• Is organized for profit
• Has a place of business in the U.S.
• Operates primarily within the U.S. or makes a significant contribution to the U.S. economy through payment of taxes

“Small businesses are all around us,” says Jodi Ehrenberger, SVP, Business Banking Officer at Coulee Bank in La Crosse. “We can help you determine where your business would fit within the parameters of a small business classification.”

Why Are Small Businesses Important?

“Communities thrive on small businesses,” says Ehrenberger. Many small towns have locally owned restaurants, grocery stores, co-ops, and other retail stores. If you live in a rural area and one of the major employers goes out of business, it hurts the community. People lose their jobs and may be forced to travel greater distances to work. Those people may not have adequate transportation to travel to jobs in a different community. Property values can also decline if many businesses close.

Ehrenberger says, “The majority of businesses start small. While many businesses start small some grow into vital contributors within their community. Interestingly, small businesses are the basis of ingenuity and ideas. It’s exciting to watch those businesses grow and thrive.”

Are There Resources for Starting Your Small Business?

If you are ready to put your ideas into action, Ehrenberger recommends small business development centers. These are most often found on college campuses and can help you write your business plan, put together projections, and assist with financials. This step is essential for financial success and helpful for applying for loans and grants.

Another resource is SCORE. This organization offers business mentors. It’s a free service offered to any aspiring or established owners of U.S.-based businesses. Many of the mentors are volunteers who own businesses and can help you along your journey. Ehrenberger states, “When customers come to me to talk about starting a business, we talk about the different resources to help create action items to fund a business and build a network of people.”

How Do I Fund My Business?

Ehrenberger says you have a couple of options to help fund your business. You can apply for a small business loan (SBA Loan), get capital from investors, or apply for grants. Some small businesses have little overhead, so they don’t require loans or grants, however, some businesses need a significant amount of capital before they can start their business. If your business needs this additional capital to get started, you can take your idea, the business plan, and the financials and come to Coulee Bank to apply for an SBA loan.

Is Owning a Small Business Right for You?       

Having a passion for what you are doing drives the business. If you are passionate, you will do everything possible to make the business succeed. However, any entrepreneurial journey has many challenges. One challenge you may face is the significant time commitment. If you have small children or a family, the business may take you away from them. Some business owners struggle with wearing many hats. Ehrenberger says, “If you are offering a creative or technical specialty, you may struggle with the behind-the-scenes work like accounting, marketing, time management, hiring employees, and building a customer base. At Coulee Bank, we connect you with partners who may be beneficial to your success like accountants, lawyers, bankers, and marketing professionals.”

Before you start, talk with other business owners. Ask them about the benefits and challenges and weigh the options before you jump headfirst into a new endeavor.

Resources:

Create a Financial Game Plan During Your Wealth-Building Years



These core competencies will help create a successful path in your career

As college students gear up to enter the workforce, we have some practical tips to help put a solid game plan in place. As a new graduate, consider your finances, develop emotional intelligence, add value to your work team, and dress for success.

Establish a Financial Plan Early

Colleen Umnus, Universal Banker at Coulee Bank in La Crosse says, “When I first entered the workforce and started receiving steady paychecks, I wanted to spend my money on all things fun. I didn’t want to buy responsible things.” She quickly learned that creating a budget was the only path that would set her up for success, especially when she needed to start paying back student loans. She says having a budget is like a blueprint for how to live your life financially. “I cannot imagine living without that blueprint!”

Umnus says not having a budget makes giving in to impulse purchases way too easy. While impulse purchases are fine, you need to prepare for those. “Set aside $10-$20 per week for impulse purchases.” While it may sound counterintuitive to plan for an impulse purchase, you want to have a buffer with your finances to buy an extra cup of coffee at the end of the week. If your budget is too strict, you won’t want to stick to it.” More budget tips can be found here.

Before buying an item stick to the “To Buy or Not Buy” motto. Umnus says, “Ask yourself several questions before you purchase an item especially if the item is over ten dollars.” How many hours do I have to work to pay for the item? Have I thought about the item for at least two weeks? Can I rent or borrow the item instead of buying it? Review the infographic included with this article.

An Emergency Fund is Essential

Umnus says, “A rule of thumb is to have six months of money available to you if you encounter an emergency. If you lose your job, break your leg, or get involved in a car accident, you want money to live on.” She says as you're starting in the workforce, you probably won’t have a six-month cushion and that’s okay. The point is to start the fund. Set aside twenty dollars per week. In one year, you will have a little over one thousand dollars. For more information about the importance of an emergency fund and how to build one click here.

A Strategy for Paying Student Loan Debt

Typically, there is a six-month grace period before you start making payments. Depending on incurred debt, it can take decades to repay, so set yourself up for success. Umnus says, “Pretend your grace period is only five months and build in a one-month buffer.” Having a buffer gives you breathing room if something unexpected comes up in the future. You are already one month ahead.

If possible, pay more than the minimum amount. This helps reduce the debt faster while saving you money on interest. The sooner your debts are paid off, the sooner you can save for your retirement.

Invest in a 401(k) When You Start Working

A 401(k) is a type of qualified retirement plan offered by many employers that allows an employee to deposit pre-tax dollars from each paycheck into a retirement account. There are varying contributions depending on the employer. For example, an employer may match one hundred percent of the employee's contribution up to four percent.

While it is difficult to envision life decades down the road, you want to be prepared with a retirement account above and beyond Social Security. The earlier you start, the more time you have to build a nest egg. Plus, the interest compounds making you even more money.

Umnus says, “In terms of investing, don’t put all your eggs in one basket.” Even though money goes into Social Security each paycheck, it will likely be one of a three-prong approach to retirement. When you retire, you may want your 401(k), Social Security, and any side investments like real estate, stocks, bonds, mutual funds, etc.”

Skills to Take into the Workforce

Emotional Intelligence is another key piece to finding success in the workplace. “Develop new skills every week. Set aside time to learn something new even if it’s something small. You want to become so good you are irreplaceable.” Being irreplaceable means taking on new job duties, becoming an effective communicator, learning to work well in a team environment, and being empathetic to those around you.

The last tip is to dress for success. This may not seem like an obvious skill to take into the workforce, but dressing for success makes a great first impression. Dressing well also gives you confidence. That confidence leads to more creativity and better productivity.

“You don’t have to spend a lot of money on a new wardrobe. Second-hand stores are offering office-ready clothing,” says Umnus.

The Bottom Line

Heading into the workforce is a major milestone and the perfect time to set yourself up for financial success. Develop good habits early on, stay prepared for the unexpected, and keep growing in your career. 

Tips from IT

Lured Into a Phishing Scam?

Here's what to look for and how to fix the issue  

Did you get lured into a phishing scam? Don’t panic! Let’s discuss what to look for and how to fix it if you took the bait.

What To Look For

Phishing attacks trick the recipient into revealing financial information, system login credentials, or other sensitive information. You may receive an email, text message, phone call, or another form of communication. Essentially, hackers use a variety of ways to get information. Here are the details for phishing scams:

• Email phishing - an email scam used to steal money or launch other attacks usually sent to thousands of victims.
• Spear phishing - a highly personalized attack designed to deceive an individual or organization into revealing sensitive information.
• Quishing - phishing using a QR Code instead of a URL.
• Smishing - phishing via text message.
• Vishing- the fraudulent practice of making phone calls or leaving voice messages claiming to be from reputable companies to coax individuals to reveal personal information, such as bank details and credit card numbers.
• Clone phishing - an attacker creates a replica of an actual message sent between an employer and employee in hopes of tricking the victim into thinking it’s real. The message resembles the address of the legitimate sender along with the body of text which matches a prior message in terms of style and substance.
• Whaling-highly targeted phishing attack aimed at senior executives attempting to initiate a wire transfer of funds.

How to Fix the Issue

While you may have heard of these scams, attackers continually evolve and become sneakier. Here are post-click actions you can do to protect yourself:

• Change your passwords immediately and create passwords that are 25 characters long. Many times, an autogenerated password is the best. Use different passwords for each account.
• Use a password manager for your passwords. You can store your passwords in places like 1Password, RoboForm, or Keeper.
• Use antimalware software to perform a primary check for malicious code.
• Use multi-factor authentication (MFA). Once you sign into an account, you receive a text message on your phone with a one-time code that needs to be entered to access the account.

Remember to stay vigilant and keep those cyber sharks at bay! 

Coulee in the Community

Coulee Bank is dedicated to excellence in the workplace while fostering growth and support in the neighborhoods we call home. We volunteer because we have the power to make a difference! 

Employees in the La Crosse Area Supported Boys & Girls Clubs at PutterFest

Coulee Bank teed off for a great cause at PutterFest in La Crosse, Wisconsin! Thanks to a couple of our team members who created a putting hole for this event! We were thrilled to support the Boys & Girls Clubs of Greater La Crosse. Shoutout to Balduzzi's for hosting a fantastic event with over 250 participants – talk about a hole-in-one success!

Employees Supported Local Charities With a Food and Toiletries Drive

Way to go Team Coulee Bank! We are thrilled to announce that our recent food and toiletries drive was a huge success! With the support of our generous employees and community members, we were able to collect essential items for WAFER Food Pantry in La Crosse, Rochester Women's Shelter, and Interfaith Action in St. Paul. But that's not all - we also raised $1800 in monetary donations during our Jeans Day fundraiser! Thank you to everyone who contributed - your kindness is truly making a difference in the lives of local families in need.

Employee Spotlight

Meet one of our long-time employees, Tammy Larson, Chief Risk Officer. Tammy has served Coulee Bank for the past 25 years, and we are grateful she has given us her dedication and time.

Tammy began her journey as a credit analyst. In this position, she helped lenders understand the financials of a business. Job duties included reviewing income statements, balance sheets, and trends in a business’s income. Essentially, a credit analyst looks for red flags for lenders.

Within a couple of years, Tammy’s mental acuity and work ethic did not go unnoticed. She was promoted to Compliance Officer, and later Chief Risk Officer.

As Chief Risk Officer she is responsible for identifying, analyzing, and mitigating internal and external risk. This position is constantly evolving as technologies and business practices change. Tammy says that is the best part about her job. “I love learning new things, investigating fraud, gathering data for audits, and providing feedback for things that need improvement.”

She also earned a position on the leadership team at Coulee Bank and believes this is the best team she has had the pleasure of working with. She truly enjoys working with all her colleagues. Being a Chief Risk Officer allows Tammy to work independently. She has excellent time management skills, and she is trusted to do her job and do it well. And that is exactly what she does.

While Tammy didn’t plan on going into banking, it’s been a wonderful opportunity. Her advice to anyone who wants to be in banking is to ask questions! There is never a question you shouldn't ask. It’s also important to know that banking is ever-changing, especially in the technology sector. There are many different opportunities within the banking industry. If a position interests you, ask your supervisor to job shadow someone. Be engaged and build your knowledge base. Educational opportunities are always available in the banking industry.

Happy Birthday!

Let's give a BIG shoutout to all our amazing colleagues with May birthdays! We hope your special day is filled with joy, laughter, and lots of cake! Cheers to another year of creating awesome memories. Happy birthday!

Happy Work-i-versary!

Let's give a big round of applause to the incredible Coulee Bank employees celebrating their work-i-versary! They're absolutely crushing it and we couldn't be more proud of their hard work and dedication.

Customer Spotlight

Thank you to our AMAZING customers for choosing us for all your banking needs! We are grateful for your loyalty, support, and trust in our products and services. Here's to many more years of building a strong relationship together!

Nicole Kannel, Sugar Coated

Meet Nicole Kannel, owner of Sugar Coated bakery in La Crosse.

Over the last four years, Sugar Coated has grown and evolved. The business was born from a love of desserts, now mostly focused on gourmet cupcakes and cheesecakes. Weddings are a big part of the business, and Sugar Coated offers a variety of ways for couples to make their special day even sweeter.

Kannel says, "In high school, my Home Economics teacher (who was a retired pastry chef) really took me under her wing and helped me realize my full potential." Her teacher helped her develop baking skills, enroll in state-wide baking competitions, and find incredible job shadow opportunities with amazing pastry chefs.

Once she figured out what direction to take her business, she visited the Wisconsin Small Business Development Center at UW La Crosse. They helped her create and develop a business plan. She says, "They’re a great resource for anyone looking to start a small business."

Once she had her business plan, she started researching the banks in the area. "I really liked what I read about Coulee Bank and what they do to help small businesses. I've really enjoyed working with Jodi Ehrenberger, she has helped me so much with my business and walked me through every step. I always knew she was there for me every step of the way," says Kannel.

Her mother is her inspiration. She encouraged Kannel to pursue her passion and dreams of owning her own bakery. "Now, my mom is everything behind the scenes with my business," says Kannel.

Her advice to anyone with a desire to own their own business is to "Just do it!"  She says, "If you have a passion for something and it’s calling you, there is no better time than the present. Do your research, use your resources, and do not be afraid of the word 'No.'"

Customer Testimonials

"I have banked with many different banks over the years, but Coulee is by far my favorite. I make a point of going in because I really appreciate their employees so much. Mark, Debbie, and Josh make banking a pleasure at Coulee. They are helpful, courteous, answer my questions and I usually hang out for another 10-15 minutes just talking with them. They are a small local branch who really care about their customers. It's like being a part of a family. I give them 10s on all customer service questions. I have no suggestions for the bank, other than just keep on giving exceptional genuine service."

~Ariel

"I have personal accounts with Coulee Bank, so it made sense to do my other business with them as well. The girl who helped me was efficient, courteous and quick. There was no wait time at all. I find the bank easy to work with and very convenient. I have no suggestions on ways they might improve their services or products they should offer. The thing I like best about Coulee is their customer service. It is excellent."

~Justin

Disclaimer - All content contained in this newsletter is for informational purposes only and should not be relied upon to make any financial, accounting, tax, legal or other related decisions. Each person must consider his or her objectives, risk tolerances and level of comfort when making financial decisions and should consult a competent professional advisor prior to making any such decisions. Any opinions expressed through the content in this newsletter are the opinions of the particular author only.