Archive for the ‘ Personal Finance ’ 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!

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

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/

Don't Let Your Banking Be Disrupted! Citizens Is Here For You!

Our lobbies may be temporarily closed, but we are all still here for you! We have employees working at all of our locations and can see you by appointment. Just give us a call to set one up!

  • New Ulm: 800-549-0194
  • Lafayette: 800-459-7563
  • La Salle: 877-308-9546
  • Lakeville: 952-469-1919

And don’t forget – our drive-up and walk-up services in New Ulm and Lakeville are open with regular hours.

  • New Ulm: Monday – Friday, 7:30 AM – 5:00 PM. Saturday – 8:00 AM – Noon.
  • Lakeville: Monday – Friday, 8:30 AM – 5:00 PM. Saturday – 9:00 AM – Noon.

We have the tools that allow you to bank from home!

Online & Mobile Banking: You can do your banking anytime and from anywhere! Click here to learn more about Online Banking, and here to learn more about Mobile Banking.

ATM Deposits: Our ATMs in New Ulm and Lakeville are very user-friendly and have some great features!

  • Accepts cash AND check deposits
  • Deposits after 2:30 PM will be posted next day
  • Open 24/7!

Telephone Banking: With our CitizensOn-Call Telephone Banking Service, your accounts are accessible anytime, day or night. All you need is a telephone. Click here for more information about this service.

WooHoo! Text Club: Want to stay up-to-date on the latest notices, event information, updates, alerts and announcements from Citizens? Simply text CITIZENSMN to 474747 and fill out the form to opt in!  ZERO spam and NEVER shared! *Message and data rates may apply. Text STOP to cancel at any time.

Please remember: Banks are the safest place to keep your money. We may have temporarily closed our lobbies, but your deposits remain safe at our bank, as does your access to your funds. You can find more information regarding this here.

For the most up-to-date information regarding Citizens and COVID-19, please visit our website at: https://www.citizensmn.bank/ask-us/covid-19-information

Important Information Regarding COVID-19

Effective Tuesday, March 17, 2020, at 4:00 PM, our New Ulm and Lakeville lobbies will be closed until further notice. Admittance will be by appointment only. Drive-up and walk-up services will operate with normal hours.

New Ulm – 800-549-0194

Drive-Up hours: Monday – Friday: 7:30 AM – 5:00 PM. Saturday: 8:00 AM – Noon

Lakeville – 952-469-1919

Drive-Up hours: Monday – Friday: 8:00 AM – 5:00 PM. Saturday: 9:00 AM – Noon.

Lafayette & La Salle offices will have limited lobby services. Please call for an appointment.

Lafayette – 800-459-7563

La Salle – 877-308-9546

Amid ongoing concerns about the Coronavirus COVID-19, Citizens Bank Minnesota is closely monitoring the latest reports from the Centers of Disease Control (CDC) and the Minnesota Department of Health. We wanted to reach out and share a few of the ways we are here to serve you, our customer, during this time.
Putting our Customers First: As always, our focus is the safety and well-being of our customers, employees and the communities we serve. Our thoughts are with those who have been impacted. We stand ready to work with those experiencing financial difficulty as a result, and we are taking the necessary steps to avoid potential disruptions of service to our customers.
Precautions: We are working diligently to take precautionary measures to reduce the spread of the COVID-19 virus. With that in mind, Citizens has enhanced precautions to help promote customer and staff safety:

  1. Consulting our Business Continuity Plan and following pre-planned procedures. Our critical systems and staff that are essential to day-to-day operations are set-up to work remotely and securely in the event on any facility changes. Many non-essential, non-customer facing bank employees are also being asked to work from home.
  2. We are asking customers who desire personal or specific banker services to set up office appointments.
  3. Customers facing financial hardships as a result of COVID-19 should contact us to discuss their individual situation.
  4. Notifying staff that if they have participated in high-risk travel activities in the past seven days or are scheduled for high-risk travel, to communicate with Human Resources to work though necessary precautions.
  5. Canceling all planned staff business travel to non-essential conferences or meetings.

The Citizens Team: We will continue to monitor the situation and take actions to protect our staff while allowing business to be conducted safely at our locations.
To stay up-to-date, enroll in our text club by texting CITIZENSMN to 474747 or visit our Facebook page.
Alternative Banking Options: For your convenience and protection, we encourage you to access your account from home using our digital and telebanking services. We offer Online BankingMobile BankingMobile Deposit, and Telephone Banking. You can also drop off payments in our night deposit boxes.
The United States maintains a world-class payments system. Customers are encouraged to take advantage of their debit and credit cards when making purchases.
Don’t forget – our ATM locations take cash and check deposits.
If you have any questions or concerns, please contact us at 1-800-549-0194 or email us at customerservice@citizensmn.com .

National Cybersecurity Awareness Month

Held every October, National Cybersecurity Awareness Month (NCSAM) is a collaborative effort between government and industry to raise awareness about the importance of cybersecurity and to ensure that all Americans have the resources they need to be safer and more secure online.

Citizens Bank Minnesota has a ‘Trending Security Topics’ page on our website that gets updated monthly with new articles about cybercrime, scams and fraud. Be sure to visit the page often to get the latest news and resources to keep yourself safer online!
http://bit.ly/securitytopics

Harvest 2019

As an eventful and often times stressful 2019 crop season comes to an end with harvest approaching, we would encourage all farmers to consider the following:

  • Farm Safety
    • Please check to make sure all safety equipment (I.E. – safety shields, fire extinguishers, etc.) is 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/in grain bins, use all appropriate safety equipment and if at all possible have a 2nd person around in case of emergency.
  • Crop Insurance
    • Be aware of your crop insurance coverage as area yields are expected to be highly variable and the chances you will have a claim have increased.
    • If you notice that your yields are potentially near or below your insurance guarantees, contact your crop insurance agent immediately to file a claim.
    • Crop Insurance Claims need to be filed within 10 days of harvest completion.
    • Please keep load records of yields from each farm and mark your bins if you are co-mingling production from several farm units.
    • If you are co-mingling 2019 crop with 2018 crop inventory, you need to request a measurement of the 2018 crop on hand.
    • We recommend reporting your yields as quickly as possible post-harvest while the data is still readily available.
    • New for this year, RMA has extended the premium due date to be postmarked no later than Nov. 30th.  Please keep this in mind as should the bill not be postmarked by the Nov. 30th deadline, all interest will be retroactive to Oct. 1st.  
  • Farm Finances
    • Do you have a marketing plan built into your 2019 cash-flow projection and are you adhering to it? Do you know/remember your break-even commodity prices?  Should we end up with a short crop this fall, you may have opportunities for selling crop during and/or after harvest and you need to stay aware of potential opportunities the market may give you.
    • Have you signed up for the 2019 MFP program payment? The deadline to do so is Dec. 6th. Have you thought about how this payment affects your cash flow?
    • Have you signed up for either the ARC or PLC program? The deadline to do so is Mar. 15th.
    • If you utilize an operating line of credit, does your 2019 line have enough availability to cover your expected fall expenses? If there are expected 2020 prepaid expenses being purchased prior to year-end, do you have a 2020 operating line of credit in place?
    • If you are expecting to seal your grain and potentially utilize FSA’s CCC loan program, please notify and consult your operating lender prior to doing so.
  • Capital Replacement Plan
    • Do you have a capital replacement plan?
    • As producers we often evaluate and consider our equipment needs during fall harvest while spending time in the cabs. Is there a year potential year end purchase you are considering?
    • Have you considered Citizens Bank Minnesota for financing these potential needs? We offer very competitive interest rates and flexible repayment terms.

2019 has been a challenging and stressful year when considering trade wars, low commodity prices, wet spring planting weather, and the unknown of what fall harvest will bring.  If you or someone you know needs or wants to talk to someone, please remember that the MN Extension’s Farm and Rural Helpline is available by contacting them at 1-833-600-2670 ext. 1.  From all of us at Citizens Bank Minnesota, we wish you a safe and prosperous harvest!

**Save the Date! Join us on January 16, 2020, from 8:00 AM – 11:00 AM at the New Ulm Event Center for our Ag Seminar, featuring Frayne Olson, PhD – Crops Economist/Marketing Specialist and Director – Quentin Burdick Center for Cooperatives at North Dakota State University. To learn more about Dr. Olson, visit: https://www.agweek.com/business/agriculture/4463910-agweek-market-extra-frayne-olson-north-dakota-state-university

By: Justin Gode, Vice President/Lender

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

Alexa – Pay My Bills!

Introducing Alexa Voice Bill Pay!

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What is Voice Bill Pay?

A Voice Bill Pay skill, like iPay QuickPay, is a voice-driven capability that enables you to access certain information about your Citizens Bank Minnesota bill pay account on your Alexa-enabled device.

Once you’ve enabled the skill, you can ask Alexa to make a payment, provide payment history and check scheduled payments!

Who can I pay with iPay QuickPay?

  • You are able to make a payment to eligible payees you’ve added to your bill pay account
  • You can ask Alexa to list your payees if you are unsure of which payees you’ve added to your account

For more information on how you can get started with iPay QuickPay, please visit our website at: https://www.citizensmn.bank/personal/online-services

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