Waldo State Bank Blog

Banking Updates

Banking Updates

As we continue to monitor daily changes to the market and laws mandated by the state and federal government, we want you to know that you are our priority. To keep you updated, we are compiling the most current, reliable information here as it becomes available to us. Please check back to get the latest news and to see how we can serve your financial needs during this time.

Bank Hours & Appointments

Drive-thru service is open Monday-Friday from 8:30 a.m.–5:00 p.m. and Saturday from 8:30 a.m.–12 p.m.

Night deposit, ATM, debit cards, mobile and online banking, remote deposit, and phone banking will continue to be available.

Our bank is fully staffed, and appointments can be made as needed to open accounts or meet with a loan officer. Please call us at (920) 528-8385 or email WaldoSB@waldostatebank.com to schedule an appointment on Monday-Friday from 8:30 a.m.–5 p.m.

UPDATE: MARCH 27 – “SAFER AT HOME” ORDER | THE CARES ACT | FDIC INSURANCE | LENDING OPTIONS FOR EXISTING LOANS | PRIOR YEAR CONTRIBUTIONS

“Safer at Home” Order
Waldo State Banks wants to assure you that we are still open for business under the “Safer at Home” Order, issued by Governor Evers that went into effect on March 25. Waldo State Bank is considered an “essential business” and therefore is able to remain open and serve you.

The CARES Act
To find out more about what the $2 trillion government stimulus package could mean for you, read this excerpt concerning consumers from the Wisconsin Bankers Association article. To read The CARES Act in its’ entirety, you can view it here on the Congress website.

FDIC Insurance
Did you know that Waldo State Bank is a member of the FDIC? This means your money is safe, even during uncertain financial times. Find out more here about what this means in light of current financial upsets due to the Coronavirus.

Lending Options for Existing Loans
With many of our customers experiencing uncertainty and temporary financial upsets, we want you to know that we are here to help. We will work on an individual basis to review all of your options and come up with the best one for your specific needs and situation. If you have questions about how Waldo State Bank can help you during this time, please email our loan department.

Resources for Small Business Owners
The Sheboygan County Economic Development Corporation has compiled a list of resources and financial programs for small business owners.

Prior Year Contributions
Just a reminder that the deadline for prior-year contributions to your HSA and IRA are will still be July 15, per the IRA.

Update: March 23 – The Reality of Mortgage Rates

With a constantly fluctuating market and shifting mortgage rates, there are currently some misconceptions about where mortgage rates lie. Though rates dropped to an all-time low last Monday, they currently sit a lot higher than people anticipate. Learn more and how you can take action if rates lower again in the article, What The Fed’s Emergency Rate Cut Means For Mortgage Rates.

Update: March 20 – The Value of Deposit Insurance

Despite the shifting stock market, you can feel assured that your money is safe and secure in the bank. The FDIC instituted deposit insurance in 1933 to protect the money depositors place into banks. The FDIC insures all deposit accounts, including checking accounts, savings accounts, money markets, and certificates of deposit. This insurance covers $250,000 per depositor per insured bank. Learn more about FDIC insurance.

Additionally, the FDIC is working with federal and state banking agencies to assist customers affected by COVID-19. Learn more about the FDIC’s steps and read frequently asked questions for bank customers.

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