Blog: OUR two cents

We proudly took part in the Power of CommUNITY campaign sponsored by the Wisconsin Bankers Association (WBA), joining hundreds of banks across the state in demonstrating the banking industry's collective impact and commitment to the communities they serve. We recognized the Power of CommUNITY week by organizing a series of shopping spree events to support local food pantries, igniting enthusiasm and community spirit across the region.

Are you leaving your job and considering whether to take a distribution from your 401(k), 403(b), or governmental 457(b) plan? if so, make sure you've considered all your options.

Birthdays may seem less important as you grow older. They may not offer the impact of watershed moments such as getting a driver's license at 16 and voting at 18, but beginning at age 50, there are several key birthdays that can affect your tax situation, health-care eligibility, and retirement benefits.

We presented the Community Leadership Award to KK Integrated Logistics (KKIL) for its remarkable transformation and integral role in hosting the commissioning of the USS Marinette.

We are pleased to name Greg Salmen as our next president and CEO. He is only the eleventh person to serve as president since the bank was formed in 1874.

VanWinkle Family Chiropractic in Peshtigo, Wis was awarded a $25,000 grant through their partnership with The Stephenson National Bank & Trust on behalf of the Federal Home Loan Bank of Chicago (FHLBank Chicago) through its Community First^® Accelerate Grants for Small Business (Accelerate Grants).

Terms like phishing and skimming aren’t only common in the ice shanty, they are also examples of cleaver methods scammers use to steal your personal information or your money. Understand these basics so you don’t end up left in the cold.

If you apply for a loan, your inbox, answering machine, and mailbox may fill up quickly with competing offers from other loan companies. It’s not The Stephenson National Bank & Trust that is selling or sharing your information. But there is a way you can stop the offers.

After 35 years of dedicated service to SNBT, President & CEO Daniel J. Peterson will be retiring. To celebrate his legacy with SNBT, the bank will host an Open House on Friday, December 8 at the 1820 Hall Avenue, Marinette Office from 10:00 a.m. to 3:00 p.m.

When you start asking the right questions and running the numbers you can more accurately figure out what house (or at least what home price) fits you best. But be forewarned – it could also lead you to question other things you’ve taken for granted, like what in the world did Kevin McCallister’s parents do in Home Alone to afford that house in Chicago? We may never get an answer to that last question, but let’s take a stab at the four big questions to answer before you buy a home.

Deciding when to retire may not be one decision but a series of decisions and calculations. For example, you'll need to estimate not only your anticipated expenses but also what sources of retirement income you'll have and how long you'll need your retirement savings to last. You'll need to take into account your life expectancy and health as well as when you want to start receiving Social Security or pension benefits, and when you'll start to tap your retirement savings. Each of these factors may affect the others as part of an overall retirement income plan.

How much do you really know about your employer-sponsored retirement savings plan? If you're like many people, you have many ideas about how your plan works that may or may not be entirely accurate. Test your knowledge with this quiz!

The digital age has not eliminated check fraud, and the trend of check washing is resurging. Be aware and take steps to protect yourself with these important tips!

Choosing beneficiaries isn't always as straight-forward as it seems. Best practices vary when choosing beneficiaries for retirement benefits versus other assets, like life insurance. We've broken it down to give you a little more clarity on where to start. 

Every day, thousands of people fall victim to fraudulent emails, texts, and calls from scammers pretending to be their bank, government agencies, or other entities you would normally trust. The Federal Trade Commission’s report on fraud estimates that American consumers lost $5.8 billion to phishing scams and other fraud in 2021. So, the question becomes: how can you protect yourself?

If you're a decade or so away from retirement, you've probably spent at least some time thinking about this major life change. When you begin to ponder all the issues surrounding the transition, the process can seem downright daunting. However, thinking about a few key points now, while you still have years ahead, can help you focus your efforts and minimize the anxiety that often accompanies the shift.

There is no easy answer to this question. Both allow certain low and middle-income taxpayers to claim a partial tax credit for amounts contributed. But important differences exist between these two types of IRAs. In fact, the Roth IRA is in some ways the opposite of the traditional IRA.

The savings account is such a simple tool that we often forget it’s value. It cushions the blow during emergencies, provides security when tomorrow is uncertain, and holds those precious, hard-earned dollars while you work towards a big purchase. Building up that savings nest egg is the tricky part. Let’s look at 3 ways you can put money away while barely noticing it’s gone.

Despite the convenience of Debit Cards, there is a risk of fraud or theft. In fact, it’s just as important to protect your Debit Card as you would protect cash, credit cards, and checks. To avoid becoming a victim of Debit Card fraud, consider these tips:

The internet is a powerful resource that we depend on everyday for shopping, banking, and connecting with friends. Yet, for all its advantages, it can also make you vulnerable to fraud, identity theft, and other scams. 

An important step to finding a home, whether you’re renting or buying, is ensuring that you have a good credit history. The Stephenson National Bank & Trust suggests the following tips to improve your credit score.

Entrepreneurial ventures come well equipped with missteps, mishaps, and mistakes. No matter how prevalent your business is, you are bound to run into problems at some point.

Learn about debit card limits, the difference between PIN and Signature Based transactions and how to avoid overdrawing your account while using your ATM.

A quick synopsis to help small business owners as you prepare to apply for a loan.

Overdraft Consideration (OC) is for consumers who inadvertently overdraw their checking account. Rather than automatically returning the item(s) unpaid for nonsufficient funds, we will consider payment of the item(s) that overdrew the account. OC is provided as a courtesy to consumer accounts in good standing and is not intended to be used on a regular basis.

74% of workers reported they plan to work during retirement

Why?  They have little or no retirement savings, and many workers continue to be unaware of how much they need to save for retirement. Only 42% reported they’ve tried to calculate how much money they will need saved by the time they retire.
– 2011 Retirement Confidence Survey by Employee Benefit Research Institute

It’s a fact – the average person spends 20 years in retirement.

This means retirement nest eggs must stretch longer  to sustain those years. Read on to learn how you can create sustainable retirement income and minimize the likelihood of becoming one of these statistics...