Archive for the ‘ Banking ’ Category

Debit Card Tips For Travel

Citizens Bank Minnesota MasterCardDebit Cards can be used anywhere!

Fraud Monitoring: Safety and security of your accounts is our priority.  On occasion, you may receive a text, email or phone call from our after-hour fraud service, or a bank representative, asking you to verify transactions.  A temporary hold may be placed on your card until you respond and verify that the transactions in question were authorized by you.

Note: Fraud service representatives only ask that you verify transactions not account numbers. Scam calls often try to obtain account numbers and specific information in regards to your identity, which when given compromises your accounts.

In the event your Citizens MasterCard Debit Card has been lost or stolen please contact Citizens Bank Minnesota immediately at (507) 354-3165 or after hours  888-297-3416.

Gas Station Purchases outside Minnesota: when purchasing at a Gas station outside of Minnesota you must select ‘Debit’ as the method of payment, always using your PIN. Due to fraud trends Credit or Signature method of payment will decline in certain areas.

International Purchases and Travel: If you are purchasing from a company that is based International, or traveling outside of the United States, please notify Citizens Connection department in advance at 1-800-549-0194 or (507) 354-3165 and we will open your card for use.  Citizens does not assess foreign transaction fees, however the merchant or ATM you are using may do so.

Need an ATM on the go?  Visit http://www.moneypass.com to identify thousands of ATM’s free for you to use nationwide.

Thank you so much for choosing to bank with us and best wishes on your next travel adventure!

Hoffman Promoted to Branch Manager

Citizens Bank Minnesota, Lafayette Branch, is pleased to announce that Colin Hoffman has been promoted to Branch Manager. Hoffman joined Citizens as an Intern in the summer of 2018, where he shadowed every department within the bank. In 2019, he accepted a position as a Client Service Representative in Lakeville and was promoted to Loan Processor/Administrative Assistant in 2020. He graduated from the University of Minnesota, Duluth, earning a Bachelor of Business Administration Degree in Finance. Outside of banking, Colin has been an active member in the operation of his family farm the past 10+ years and will be a member of the Tomahawk Amateur Baseball League.

Anderson Promoted to Branch Manager

Citizens Bank Minnesota is pleased to announce Nicole Anderson has been promoted to Branch Manager for their newly acquired Ormsby Branch. Anderson joined Citizens, La Salle Branch, in 2011 as a Client Service Representative. She later took the position for Loan Processor/Administrative Assistant in 2016. In 2019, she completed Personal Banker training and graduated from Citizens Leadership Academy, a two-year internal program focused on personal and professional growth. Outside of the bank, Nicole helps out with the St. James Dance Team program as Assistant Coach and is a current member of the Women’s Forum. Nicole and her husband Tom live south of St. James on the family farm.

A Glance Back and an Exciting Look Ahead at Citizens Bank Minnesota

Hello everyone!

2020…wow…probably one of the strangest, most unpredictable years in many of our lifetimes. Some of the past years unfortunate events will carry over to 2021, but I am optimistic the future is brighter. 

Even with all of the distractions brought upon us, Citizens Bank Minnesota had a very good year. The acquisition of Farmers State Bank of Watkins and Farmers State Agency of Watkins occurred in April, adding another location with highly qualified staff members to assist with any of your banking needs. Our mortgage department has been very busy assisting clients with purchases and mortgage refinances, and our commercial lenders have been working diligently in administering loans through the Small Business Association Paycheck Protection Program (SBA-PPP).

2021 is going to be another year of growth for the bank – WooHoo! Growth continues to be a high priority for Citizens. As we were extremely excited to welcome the very talented staff from Farmers State Bank of Watkins, we were equally excited to welcome the new staff from the State Bank of Ormsby on January 25th! We continue to be committed to you by increasing locations to serve you, expand staff in key areas to deliver the ‘Ultimate Experience’ and by giving back to our communities through volunteering and donations. The second round of the SBA-PPP loan program was approved a few weeks ago and we encourage all of our commercial and agricultural clients to look into this program and to contact one of our lenders for assistance. Our mission is to help our communities!

The strong bank performance last year and continuing into 2021 could not have happened without the hard work and effort put forth by our staff. This group of employees is extremely talented and have demonstrated their talents this past year more than ever. I truly believe the incredible guidance from our Board of Directors, combined with our staff, insures 2021 will be a great year!

I wish all of you a safe and prosperous year. I hope we all can get out and support our local restaurants and entertainment businesses as things possibly return to a new normal. Thank you for your continued support.

Take care ~ Mark Denn, President/CEO

Citizens Bank Minnesota Graduates 17 Leadership Course Participants

Citizens Bank Minnesota is pleased to announce that seventeen staff members have completed Citizens leadership programs. The programs consist of two internal programs, Citizens Leadership Academy, a two-year program and Citizens Leadership Accelerated Module, a one-year program, both were developed to prepare staff to take on leadership roles within the organization as opportunities arise.  The Bank looks for individuals who have a commitment, as well as a desire to achieve extraordinary accomplishments throughout their career with Citizens.

The four employees who have recently completed the Citizens Leadership Program, a two-year program include: Melissa Lambrecht, Mortgage Loan Processor, New Ulm, employed 5 years with the Bank; Kristin Marlowe, Sr. Client Service Representative, New Ulm, employed 7 years with the Bank; Amber Portner, Citizens Connection Representative, New Ulm, employed 3 years with the Bank; and Brooke Wilfahrt, Loan Processor, New Ulm, employed 3 years with the Bank.

The Citizens Leadership Accelerated Module is a fast track program developed for mid-level officers who already experience leadership roles within their positions. Thirteen staff members have recently completed this one-year program in three different modules:

Individual Contributor Module: Lynn Fink, AVP, Compliance Officer, New Ulm, employed 17 years with the Bank; Judy Johnson, Assistant Financial Officer, New Ulm, employed 14 years with the Bank; Julie Mathiowetz, Assistant Director of Client Services, New Ulm, employed 21 years with the Bank; and Stacy Merkel, AVP, Auditor, New Ulm, employed 17 years with the Bank.

Lender Module: Nick Peterson, AVP, Ag Lending, Lafayette, employed 6 years with the Bank; Kyle Potswald, AVP, Lending, Lakeville, employed 2 years with the Bank; Lisa Schneider, AVP, Mortgage Lending, New Ulm, employed 19 years with the Bank; and Laura Scholtz, Ag Lending Officer, La Salle, employed 1 year with the Bank.

Manager Module: Maria Anderson, AVP, Mortgage Lending, New Ulm, employed 34 years with the Bank; Sara Bode, AVP, HR Director, New Ulm, employed 10 years with the Bank; Nick Hage, AVP, Insurance Agency Manager, New Ulm, employed 12 years with the Bank; Scott Tauer, VP, Branch Manager, La Salle, employed 10 years with the Bank; and Missy Visser, Marketing and Culture Officer, New Ulm, employed 20 years with the Bank.

Jacob Holm & Kyle Marti Appointed to Citizens Bancorporation of New Ulm, Inc. Board of Directors

Citizens Bancorporation of New Ulm, Inc, parent company of Citizens Bank Minnesota, is pleased to announce the appointment of Jacob Holm and Kyle Marti to the Board of Directors of both companies.

Jacob Holm is a Certified Public Accountant and Partner at CarlsonSV LLP, a full-service accounting firm in New Ulm, MN, with his main focus being cooperatives and other Ag-related entities.  Jacob earned his accounting degree from Minnesota State University – Mankato and his CPA license from the Minnesota Board of Accountancy.  He is a member of the Minnesota Society of CPA’s, the American Institute of Certified Public Accountants, and the National Society of Accountants for Cooperatives.  Jacob joined CarlsonSV LLP in 2005. Holm lives in New Ulm with his wife, Ra’e, and their three children; Parker, Vynnsyn and Aggy.  He is an active member of the community; he is a member of the New Ulm Jaycees and sits on the board of the ISD #88 Foundation.

Kyle Marti, alongside Ted, Jodi, Jace, and Franz Marti, are 5th and 6th generation owners of the August Schell Brewing Company in New Ulm, MN.  Marti has worked at the brewery for longer than he can legally say, spending his summers working in the bottle house and other jobs before moving into his administrative role in 2015.  He was appointed to VP of Operations at Schell’s Brewery in 2018 and elected to the board of directors in 2020.  He is an active member of the community: previously serving on the New Ulm CVB board, is a current member of Projekt Neu Ulm, and traces his lineage to the famed Junior Pioneers of New Ulm.  

Holm and Marti join Dustan Cross, Mark Denn, Lou Geistfeld, Walt Luneburg, Bryon Christenson, Alan Holm, and Tim Hoscheit on the Bank’s Boards.

Citizens Bank Minnesota has offices in New Ulm, Lafayette, La Salle, Lakeville and Watkins, Minnesota.

Harvest 2020

As an eventful, and often times stressful, 2020 crop season comes to an end with the pandemic and Covid-19 occurring in our world, it appears the harvest season is going extremely well with excellent harvest conditions.

  • Farm Safety
    • Please check to make sure all safety equipment (i.e. safety shields, fire extinguishers, etc.), are in place and in working order.
    • Be especially careful and diligent around any moving equipment and/or parts. Don’t assume anything as things happen faster than we expect.
    • Make sure to use your flashers and be aware of your surroundings.
    • Wear protective and reflective clothing.
    • When working around and in grain bins, use appropriate safety equipment and if at all possible, have a second person around in case of an emergency.
  • Crop Insurance
    • Be aware of your crop insurance coverage and contact your agent as quickly as possible after harvest to turn in yields in case of a claim.
    • Crop insurance yield claims need to be filed within 10 days of harvest completion.
    • Please keep load records of your yields for each farm and mark your bins if you are comingling production from several farm units.
  • Farm Finances
    • Did you have a marketing plan built into your 2020 cash flow projection and are you adhering to it?
    • Do you remember/know your break-even commodity prices from the cash flow completed this past year with your lender?
    • Should you be meeting with your lender to review your spring cash flow plan to see how it relates to current marketing opportunities?
    • Have you signed up for round 2 of the Coronavirus Food Assistance Program (C-FAP 2) which had a beginning signup date of September 21, 2020 and runs through December 11, 2020? Note, C-FAP 2 has expanded coverage for additional agricultural commodities so make sure and review C-FAP 2.
    • USDA has announced that dairy margin coverage program enrollment for 2021 opened up as of October 13, 2020. (DMC program).
    • USDA has announced that October 30, 2020 is the deadline to sign up for the WHIP+ program which stands for Wildfire and Hurricane Indemnity Program as a result from the 2018 and 2019 losses due to hurricanes, floods, snow storms, tornados, typhoons and excessive moistures that occurred during those calendar years.
    • If you utilize an operating line of credit, does your 2020 line of credit have enough availability to cover your expected fall expenses.
    • If there are expected 2020 prepaid expenses being purchased as part of your year end, do you have a 2020 operating line of credit in place?
    • If you are expecting to seal your grain and potentially utilize the FSA CCC loan program, please notify and consult with your operating lender prior to doing so.
    • Do you have a capital replacement plan or budget?
    • Do you, as a farm business, have scheduled anticipated capital improvements and purchases built into your cash flow?

2020 has been an interesting and challenging year considering the Coronavirus that has taken the world by storm. To date, we have had outstanding fall harvesting conditions which has accelerated harvest with the number of farm units completing harvest at this time with average to above yields and improved prices.

From all of us at Citizens Bank Minnesota, we wish you a continued safe and prosperous harvest!

By: Duane J. Laffrenzen, Vice President

Member FDIC/Equal Housing Lender

INVESTMENT AND INSURANCE PRODUCTS: Are not insured by the FDIC or any other federal government agency • Are not deposits of or guaranteed by a Bank or any Bank Affiliate • May Lose Value

Fitbit Pay & Garmin Pay – Now Available!

Fitbit Pay

Just add your debit or credit card to your Fitbit watch and you’re ready to go! You’ll get the same rewards, points, miles and other perks with Fitbit Pay that you’d receive with your physical card. Fitbit uses industry-standard tokenization to help keep each transaction private.For more information and details about compatible devices, go to: https://www.fitbit.com/us/technology/fitbit-pay(Opens in a new Window)

Garmin Pay

Garmin Pay is easily accessible from your compatible Garmin Watch. Enter your passcode, select the card you want to use from your virtual wallet, and then hold your wrist near the card reader. Your card number is not stored on your device and Garmin Pay protects you by using watch-specific card numbers and transaction codes every time you make a purchase.For more information and details about compatible devices, go to: https://explore.garmin.com/en-US/garmin-pay/

CARES Act Loans Program Update

Citizens Bank Minnesota continues to process Paycheck Protection Program (PPP) loans for those businesses that qualify and have not yet taken advantage of the program. So far Citizens has helped over 250 businesses with PPP loans to help their employees. Click HERE to visit our website for additional information on applying.

Also, the Small Business Association’s (SBA) Economic Injury Disaster Loan (EIDL) has re-opened, with funds currently available only to agriculture businesses with 500 employees or less.

Those interested may apply for a loan of up to $2 million, and at the end of the application form, applicants can request an advance of up to $10,000 ($1,000 per employee). The advance will be provided just days after the application has been submitted. The advance amount received doesn’t have to be repaid, even if you ultimately don’t qualify or decide to withdraw your EIDL application.

One important note is the amount of any EIDL advance received will be subtracted from the forgivable portion of PPP funds provided to the same applicant.
Unlike applying for the Paycheck Protection Program (PPP), which requires applicants to work with their lender, clients must directly apply for an EIDL through the SBA.To learn more or apply for an EIDL, visit the SBA website at: sba.gov/disaster .

New Ulm Economic Development Authority Approves $2500.00 Business Grants

The New Ulm Economic Development Authority has pledged grant money to widen the relief efforts of area businesses affected by COVID-19. Businesses that were directly impacted by Governor Walz’s Executive Orders 20-04 and 20-08 may now apply for $2500 grants per business affected. These funds are to help small business owners weather the storm until major funding can be distributed.

The business applicant must reside in the city of New Ulm, must have a commercial address (no home addresses or home businesses are eligible) and the applicant must be the business owner. Funds to the program are limited and applications will be processed on a first come, first served basis. Business owners are encouraged to apply promptly.

The Chamber of Commerce would also like to remind individuals that supporting local is very important during this crisis. Direct payments to individuals through the Federal Stimulus package would be best spent in New Ulm. The Chamber understands that all needs might not be met in New Ulm but encourages all citizens to spend as much locally as possible. Please help keep the local business community intact during COVID-19. Be New Ulm Strong. For more information on take-out and delivery from local restaurants, visit newulm.com.

Applications can be found online at NewUlm.com under the COVID-19 Resources Page or the City of New Ulm at ci.new-ulm.mn.us under their COVID-19 Information Page. Applicants that have questions about the application can direct inquires to Audra Shaneman at 507-233-2113 or email her at AundraS@newulmmn.gov.

Source: New Ulm Chamber of Commerce

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