Community State Bank
Dec. 20th, 2013
December 2013

From the President
Merry Christmas Everybody!

Scott Huedepohl

Banking the Old Fashioned Way

One of my all time favorite Christmas movies is “It’s a Wonderful Life” with Jimmy Stewart. I think it was 1985 when I first saw this movie. I was a young, impressionable banker, just starting my career…yearning to make my mark in the banking world.

And then I met George Bailey. As most of you remember, George was the president of the old Bailey Building and Loan – the community bank of
Bedford Falls. It was owned and run by people who lived in the community, cared about the community, and helped lead the community. The Building & Loan’s board of directors found ways to help local businesses and families succeed. George Bailey, as president and a person, cared deeply about his employees, customers, and the wellbeing and future of Bedford Falls. In the end, we learned that this fictional Bedford Falls would have been a totally different place without George and the Building & Loan.

I’ve only been here at Community State Bank for a few months. But I can already tell that Community State Bank is much like the Building and Loan in the movies. This bank cares about the needs of its customers, employees, shareholders and the community. Even though we ’re under more government regulations then I can count…you have my promise that we are working very hard everyday to find ways to take care of you and make it as easy as possible for you to take care of your finances.

And just like George and his Savings and Loan, this bank and I have made a commitment to work hard in your community. To find ways to better the lives of all of us – whether or not you bank here.

Please accept my best wishes for a great Christmas and holiday season. My hope is that you find time to be with, and enjoy your family and loved ones. Take some time to really appreciate this time of year…you’re worth it!

On behalf of the entire banking team here at Community State Bank, thank you for your business. We appreciate it and look forward to working with you in 2014!

As always, your comments and suggestions are welcome. My email address is My direct line is 262-878-3767.

Kindest Regards,

P.S. : The best compliment you can give us is to refer a friend or family member.

Investing in our Community.

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Good Cheer!
CSB Celebrates the Holiday Season with a Business After 5:00 Chamber Event

Business After 5


On Tuesday, December 3rd, 2013, Community State Bank kicked off the Holiday Season with a Business After 5 “Holiday Happy Hour”. Union Grove Area Chamber of Commerce members were invited to the Bank’s Union Grove office location to mingle with some of the top business leaders in the area, enjoy drinks and hors d’oeuvres and meet our new Bank President Scott Huedepohl.

Set against the backdrop of festive holiday decorations; over 100 local Business Leaders, Chamber Members and Bank Staff enjoyed a wonderful evening of conversation, networking and good cheer.

“It was a great opportunity to meet so many wonderful people from the area,” said Bank President Scott Huedepohl. “It was a chance to open our doors, introduce Community State Bank to some newer members of the business community, and catch up with our long-time friends and neighbors.”

The Bank plans on holding additional community events in many of the areas they serve throughout 2014.

Retail Store Cards & Credit Inquiries
Don’t Fall Into the Credit Inquiry Trap This Holiday Season
Credit Inquiries

Black Friday 2013 is behind us and Christmas is right around the corner.

This year holiday spending is projected to rise some 3.9% over the 2013 holiday shopping season. So while you’re trying to make your way through crowded malls be sure to not fall for one of the most dangerous credit related traps - the inquiry trap.

Not All Inquiries are Created Equal
An inquiry is a fairly benign entry on your credit report. It simply indicates that a company has accessed your credit report and on what date. Inquiries are worth 10% of the points in your FICO credit score and according to VantageScore Solutions inquiries are “Less Influential” to your VantageScore credit score.

So why all the focus on inquiries?
The focus is important because many retailers are offering between 10 and 20 percent discounts this holiday season if you open a new account with them. So if you spent $500 on Black Friday, and opened new retail store accounts to do so, then you probably saved about $50 on your purchases. Sounds good, right?

The problem is every time you took advantage of one of those offers you allowed a retail credit card issuer to access you credit report. This means they left behind a credit inquiry. And, retail card inquiries are among the most damaging of all inquires.

If you took advantage of several of those discount offers then you compounded the problem by adding several retail card inquiries to your credit report/s. But still, is this problematic? It certainly can be.

Credit card inquiries remain on your credit reports for two years and are considered by credit scoring systems for their first 12 months on your credit file.

That means if the inquiries are lowering your scores, they will do so until Black Friday 2014. And unless the inquiries were caused by fraud there’s no getting them off your credit reports.

Every Point Matters
This isn’t a problem for people who have very solid scores, 720+ on both the VantageScore and FICO score scales. But, for people who already have marginal credit scores (anything below 720) every point matters and the negative impact of the inquiry or inquiries can mean anything from a higher interest rate on a loan to an outright credit declination.

When you think of it in those terms saving a few bucks on your Christmas shopping starts to lose its luster. This is something you have to consider over the next 4 weeks as you’ll be getting non-stop offers from the cash register clerks to save money on purchases in exchange for applying for credit. And if you’re wondering why those offers become some much more aggressive and prevalent during the holiday season, the check out clerks are incentivized to push those offers.

Retailers also know that most of us will be spending more in the last 5 weeks of the year on credit cards than we spent in the previous 47. That kind of spending activity makes a 10-20 percent discount very enticing.

2014 is Right Around the Corner
So if you are in the market for any sort of loan in 2014, we highly suggest you not open new retail store cards this month. And, if you don’t have a loan in your 2014 plans, we still suggest that you think long and hard about opening new cards this month. You simply don’t know what you don’t know.

What if your car dies on you? What if you finally decide to buy a home or refinance an existing mortgage? What if you want to take out a personal loan to pay off expensive credit card debt?

What if you want to transfer the balances on your credit cards to one of those great “zero percent on balance transfers for 18 months” credit card deals that are all over the place right now? Each and every one of those credit maneuvers requires that you have solid credit reports and solid credit scores.

Loading up on retail credit card inquires certainly won’t help with any of those applications and can certainly lead to declinations and higher rates.

Source: MintLife

Community State Bank Notes
What's Happening at Community State Bank & in Our Communities.
Gift From the Heart   Go Local!
Gift from the Heart Last Minute Shopping? Go Local!

Community State Bank along with Children's Service Society of Wisconsin and Love Inc. are excited to announce that the 10th annual Gift from the Heart program was a tremendous success!

This year, the Gift from the Heart initiative provided donations and Christmas gifts to over 200 individuals and families in Racine and Kenosha counties.

"I'm amazed each and every year at the generosity of our communities and our staff when it comes to helping others in need", commented Community State Bank AVP of Marketing Jeff Nielsen. "The Children's Service Society of Wisconsin and Love Inc., are two incredible resources in our community, and I'm glad that Community State Bank is able to provide any assistance that we can."

If you are interested in making a charitable donation to either the CSSW or to Love Inc., or if you would like to volunteer please check out the links below.

Donate or Volunteer
Love Inc.

Children's Service Society of Wisconsin

Christmas is almost here, and maybe you have a couple of gift items you still need to check off of your list. But with Christmas so close, online shipping costs can go through the roof! So if you haven't done so yet this season, "Go Local!" for your holiday shopping.

Community State Bank is encouraging consumers to Go Local once again this holiday season by doing either a portion, or all of their shopping, at small, local businesses. By doing so, consumers will be putting money back to work in their communities, just like they do every time they dine at a local restaurant or choose to bank locally with a community bank.

“The holidays are all about giving, so it’s the perfect time to give back to your community by choosing to spend your dollars locally, where it will be used to help support the local small businesses, which drive jobs and vibrancy in your local community,” said Scott Huedepohl, President of Community State Bank. “So go ahead and spread some holiday cheer locally this year. Just think, you’ll be able to cross items off of your shopping list and make lots of folks happy—all the while reinvesting in your community—helping it prosper during the holidays and well into the New Year.”

Holiday Closing Schedule   MasterCard Gift Cards
Holiday Closing Schedule Easy to Get and Perfect to Give
Date Day Holiday
December 24th
(noon closing)
Tuesday Christmas Eve
December 25th Wednesday Christmas Day
January 1st Wednesday New Year's Day

Need to access your accounts when the office is closed? Here are a few convenient options:

Online Banking
• Dial Direct (Toll Free): (888) 958-1988

There may only be one week of shopping before Christmas, but that's still plenty of time to shop for even the most difficult person on your list. MasterCard® Gift Cards make wonderful gifts!

The MasterCard® Gift Card is a one-time prepaid card that can be used at millions of locations where MasterCard debit cards are accepted, including retail stores and online merchants. Plus, it offers all the protection and security features you've come to expect from MasterCard®. Gift Cards can even be replaced if lost or stolen.

Easy to get and perfect to give; MasterCard Gift Cards® are always in season!

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1500 Main Street | Union Grove |WI 53182 | Contact Us
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