Elgin State Bank Blog

Visit Cedarburg, Wisconsin with The Elgin Experience

The weather looks great for Saturday…

As we travel to scenic Cedarburg, Wisconsin to the Wine & Harvest Festival.

There will be arts, crafters, food, music, speciality shops…experience the first blush of fall.

We will do the driving, we want you to sit back and enjoy the scenery as we travel to Cedarburg on the motor coach.

Take in the day as you stroll the Harvest Festival…don’t worry we will have plenty of room to pack your purchases for the journey home.

Hope you can join us on Saturday September 20, 2008!  There are a few seats left.

Please call 847-888-7979 for reservations.

Posted by Kimberly Knes on September 16th, 2008 in Elgin Experience.

Tags: Cedarburg, The Elgin Experience, Wisconsin

Are You Taking Advantage of the Available FDIC Insurance Coverage for your Deposit Accounts?

I’m sure you have been thinking about the safety and soundness of your bank as well as wondering whether your deposit accounts are properly structured to take advantage of all the FDIC insurance coverage available. You’re not alone.

The entire country has been subjected to the news of recent bank failures in addition to irresponsible press reports stating that 50% of all banks in the U.S. would fail this year.

Let’s get the facts straight. Yes, it is true we will see a number of banks fail this year because the management teams of these banks made some very poor decisions. As usual greed was the underlying motivation.

Let me assure you, this is not the case at Elgin State Bank. Since 1973, we have managed our bank in a safe, sound, and prudent manner. We have no subprime home loans or speculative real estate loans. We have never engaged in making these loans, nor will we ever make these risky loans.

Here are the facts.

MYTH: All community banks are involved in problems with subprime mortgage lending.

FACT: Elgin State Bank is not and never has been involved in subprime lending. There is no subprime crisis at Elgin State Bank because we are well run, highly capitalized, tightly regulated and much more risk averse than big banks. 

MYTH: Your money is safer in big banks.

FACT: No one has ever lost a penny of FDIC-insured deposits held in community banks. Elgin State Bank focuses on the needs of local families and businesses and our top executives are available on site to answer your questions directly and make timely decisions. Most of the nation’s large banks are structured to serve large corporations and have CEOs headquartered in office suites, not local banks.

MYTH: Community Banks are under-capitalized.

FACT: The vast majority of our nation’s banks, especially community banks, are strong, safe, and stable. Community bankers are common sense lenders that don’t engage in high-risk activities, Instead, we stick to the longstanding fundamentals of responsible banking, and always seek to serve the long-term interest of our customers and communities.

In a recent press release, FDIC Chairman Sheila C. Blair stated, “The overehelming majority of banks in this country are safe and sound.” We understand that our business is built on public trust. We understand that the deposits you place in our bank are your money, not the bank’s money. Our primary goal at Elgin State Bank is to always protect your deposits. This is the foundation upon which the banking industry has traditionally lived and breathed, and yet some greed driven banks that see their customers as commodities rather than real people with real needs have tarnished the rest of the banking industry’s reputation by speculating with their depositor’s money. This is not how we do business, now or ever.

Will Rogers once stated, “The return OF my money is always more imprtant to me than the return ON my money.” This rings home so true today. Do you have money on deposit at different banks and/or investment brokers? Do you know whether the FDIC insures those funds? If this is your situation, NOW is the time to consolidate all those bank accounts and come back home to Elgin State Bank.

Bring in all your other bank statements and let our experienced bankers show you how to get the most insurance allowed by the FDIC. We will also give you some great advise on how to ensure you always have funds available to take advantage of rising interest rates.

Our goal is and always has been to create a wonderful experience for you that you NEVER consider any other bank for your financial needs. It is also very important to me that I always address any concerns you have in a factual and honest manner. It is the only way we conduct business at Elgin State Bank.

Should you have any questions please feel free to call me directly. My direct office number is (847)888-7957. My goal as President is to always be accessible to you when you need me the most.

Posted by Deborah Szmurlo on September 15th, 2008 in Consumer Alerts, Customer Care, Elgin Experience, Technology Updates.

Tags: FDIC, Insured Deposits

The Elgin Experience Wine & Cheese Tasting

The Elgin Experienceis hosting a wine and cheese tasting on Wednesday, September 24, 2008 from 4:30pm - 6:30pm.  This will be held at our Randall at Bowes Branch, 1001 S. Randall Road.  We will be featuring Ron Beckstrom, a dealer member of the American Numismatic Association, to appraise coins for FREE.  Look through your coins and bring those special coins, that you always wondered about.

Appointments will be on a first-come, first-serve basis, at the time of the event on 9/24/08.

Please contact Denise Schramm at 847-888-7978 for reservations!

                                                             Kindly respond by 9/18/08

Posted by Kimberly Knes on September 9th, 2008 in Elgin Experience.

Tags: Ron Beckstrom, The Elgin Experience

The Elgin Experience Movie Meeting for September 9, 2008

The monthly movie meeting is on Tuesday September 9, 2008 - Marcus Theater 111 S. Randall Rd. Elgin, IL

$2.00 Per Person

Doors open at 9:30am - Meeting begins at 10:00am

We will feature - Sherman Hospital Animal-Assisted Therapy Program

The movies that will be shown at the movie meeting are:

• Bangkok Dangerous - Rated R
• Vicky Cristina Barcelona - Rated PG-13

Accepting donations for the following:

Bethesda Church of God - Canned foods and paper products.

Membership is not required, bring a friend!

Posted by Kimberly Knes on September 5th, 2008 in Elgin Experience.

Tags: Monthly Movie Meeting, The Elgin Experience