We do our best to serve our communities the best we can!

Providing quality banking services to members of the communities we serve and live in is at the heart of everything we do at Lincoln Savings Bank. As a true community bank that serves 15 different communities in Iowa, we value the people and the areas we serve, and work to better them directly through our financial services, as well as through community support and outreach. 

April is Community Banking Month, so we would like to take this chance to look at the communities we serve, as well as make you aware of how you can celebrate the month and possibly win a prize!

What kind of communities does Lincoln Savings Bank serve? Ones of all shapes and sizes! From smaller towns like Reinbeck, Greene and Tama to midsize towns like Waverly and Mason City to larger metro areas like Cedar Falls, Waterloo and Des Moines, we provide banking services to people of all economic backgrounds and businesses of all types.

We are especially invested in the places we serve as we often have our neighbors and friends as customers.  This allows us to bank on a more personal level, giving us a better look into your unique situation and how we can help. It’s what a community bank is all about: a better customer experience.

If you’ve had a great experience with us, then you have a chance not only to tell everyone about it, but also possibly win a prize. As part of Community Banking Month, the Independent Community Bankers of America (ICBA) has set up a way to share your great experience and be eligible for a $500 gift card! The process is easy, so learn more about it by visiting http://www.ILuvMyCommunityBank.com/.

We are ready and willing to help you at any time, come by or contact our location nearest you to start your experience with Lincoln Savings Bank today! 

IRAs are great tools for preparing for retirement.

Individual retirement accounts (IRAs) are a great way to save for your future so you can live comfortably after you retire. With tax season ending soon, we wanted to share a few IRA tips and inform you of a change in contribution limits for your IRA.

It’s not too late to make a contribution to your IRA and have it count for the 2012 tax year!  This kind of contribution, called a carryback contribution, allows you to add money to the balance of your IRA during the first part of 2013 and designate it as a contribution from 2012. The deadline to make a carryback contribution to your traditional or Roth IRA is April 15, 2013. This allows you to make extra tax-deductible contributions if you have a traditional IRA that you can claim for 2012.

Other big news for your IRA(s) is that the maximum contributions have changed. For 2013, the maximum amount you can contribute to all of your traditional or Roth IRAs is the smaller of $5,500 ($6,500 if you’re age 50 or over) or your taxable compensation for the year. The 2012 limits were $5,000, and $6,000 if age 50 or over.

We would also like to remind you to check your beneficiary designation for your IRA. Significant life changes such as marriages, divorces or death of family members may change who you want to benefit from your IRA.

Finally, we encourage you to simplify your finances when it comes to your old employer retirement plans by consolidating them with Lincoln Savings Bank. This will give you one centralized location for your IRA funds, making it much easier to manage. We employ IRA Specialists that can help you make the right decision for your financial future.

Call or stop in today to see how you we can help you successfully plan so that you can live the lifestyle you want without outliving your money in retirement. 

You're never too young or too old to get your finances in order.

Money affects everyone’s decision making, whether you’re just out of college, just had your first kid, or looking at retirement. When we have a want or a need many of us look immediately to how much it is going to cost. This can leave you with the feeling of needing to get your finances in order.

The experts at Lincoln Savings Bank put together a few ideas about how you can stabilize your financial life and how we can help!

Create a Rainy Day Fund- there’s no doubt you’ve heard this before, but there’s a reason for that. If you lose your job or have sudden medical expenses, how are you going to pay for them? Your Rainy Day Fund should be a savings account you have immediate access to, and should ideally contain six to nine months of living expenses. For those that haven’t started, it’s as easy as opening a savings account with Lincoln Savings Bank and depositing 10 percent of each paycheck.

No Snowballs- by this we mean don’t carry balances on credit cards over to the next month. Pay the full balance on your card(s) before it gets too big. If you’re already in a tough situation with credit card debt, it may mean making financial sacrifices for a short time to get it paid off.

Free Money? Yes, Please!- do you have a 401(k), 403(b) or other work benefits that are essentially “free money?” Take advantage of them! If your company matches your contributions, you can easily add to your 401(k) balance without having to put a bunch of money into it.

Track Your Finances- if you have financial goals you need to know where your money is going. Blindly writing checks or playing your finances by ear can mean spending more than you need to. The Personal Financial Management tool available through LSB’s Online Banking gives you a visual representation of your expenses to allow you to budget smarter.

Pay What You Can, But Save Too- let’s say you are still trying to pay off your student loans. You have your balance down to $1,500, so why not just pay it off in one larger payment? For one, it will get your budget out of whack, and two, paying it off over time only gives you a better payment history when it comes to debt and your credit score.

Be Patient, and Don’t Forget to Live- gaining solid financial footing doesn’t happen overnight; it takes time and discipline. Pay attention to your finances, but don’t forget that you can also treat yourself every once in a while. Just be sure to keep it within reason.

You don’t have to go it alone when it comes to getting your finances in order. Lincoln Savings Bank is ready and willing to help you in any way possible, so contact or come by one of our branches today!

Online Banking provides easier access to your banking features.

Between your work, your kids, and everything else you have to do, you live a busy life. We realize that you can’t always take the time to make it into one of our branches to do your banking. For your convenience, Lincoln Savings Bank offers Online Banking that allows you to bank from your home, office or wherever you have an internet connection. 

Some of you may be skeptical about having your financial information online, or you may think it’s too difficult to get started. Your account information is protected with an extra layer of security, and getting started is easy with our How-To’s and video demonstrations. In fact, all aspects of our Online Banking are easy to work through, so let’s take a look at some of the various features you will find:

Account Access- you can access your personal and/or business accounts to check your account balances. You can also link directly from your LSB account to your Quicken software, as well as set up alerts for certain banking transactions, account balances and more.

Transfers- move money between your checking and savings accounts, make person-to-person payments with only an email address, or move funds between your LSB accounts and accounts at other banks or financial institutions.

Mobile Banking- using the MyLSB App, you can bank right from your smart phone! You can see account balances, transfer funds between accounts and much more from the palm of your hand!

Financial Management and Bill Pay- Personal Financial Management is a great tool for budgeting and managing your household’s finances. Online Bill Pay allows you to quickly and securely bay your recurring bills directly from your LSB account. No more spending money on postage or hoping your check makes it on time.

With an Online Banking Account from Lincoln Savings Bank you can bring ease and simplicity to your financial management. Visit our Online Banking page to learn more and get started today!

An understanding of you and your spouse's finances is key to financial success.

You have said your “I do’s” and have promised for richer or poorer, now it is time to make another important decision: do you keep individual checking accounts or join your funds into a joint checking account?  This decision still remains an individual one and there is no “one size fits all” approach to money management. Each couple is different and needs to discuss which would work best for them. 

There are many things to consider when making this decision:

Each spouse has the same access to the joint money.  You are pooling your income together and making decisions together.  A couple needs to be able to talk openly about their income, expenses, financial goals, and everything associated with running their financial household.  There are also advantages to pooling your income into one account.

You may incur lower fees for higher balances and you may earn interest you may not in a lower balance account.  Having a joint checking account also makes bill paying easier. Since the money is all pooled into one account bills are paid out of one account, you don’t have to spend time deciding who is responsible for which bill. The most important thing in deciding to have a joint checking account is that you need to be open with your partner and be able to designate who is responsible for balancing the account and paying the bills.

Committing to spending your life with someone is a big decision, along with that is deciding if you want to keep your money separate or joint.  When having a joint account there is no privacy, your partner sees exactly where the money is being spent, and you may lose the feeling of having your own money.  In an individual account you have the freedom of managing your money.  The downfall to individual accounts is that you will have to discuss with your partner how you are going to divvy out the joint expenses, whether its split 50-50 or based on your income.   

If you think both types of accounts sound like a good idea, you could take the His, Hers and Ours approach: each spouse  has an individual  account along with one joint account.  This would give the individual the privacy they are looking for but make it easier to pay those joint bills or save for those big ticket items, like a dream vacation. 

The key to having successful money management in your marriage is to remember to be flexible and to communicate with your partner.  There is no one right answer. You may have to try different ways to manage your money until you find the one that works for both of you.  Remember, continued communication, trust and willingness to compromise are keys to finding happy marital money management. Contact any of our branches to see how Lincoln Savings Bank can help!

From an early age, most of us are given a visual of the American Dream: a nice home in the suburbs with a white-picket fence surrounding the front yard. While our individual home dreams may require some space in the country or eliminating the fence, owning your own home is still a huge step in life that signifies that you’ve “made it.”

This weekend, we will have a booth at the Home Builders Association of Greater Des Moines’ Home & Remodeling Show at the Iowa State Fairgrounds. Not only are we there to support the HBA, but also to help answer questions or concerns regarding buying a new home or the financial requirements for remodels. Here are a few topics our mortgage and home lending team can help you better understand when it comes to homes:

• Considerations before buying a home- the home buying process can be complicated and, if you’re not prepared, difficult. From how much you should have saved up to what kind of mortgage best suits your financial status, our team can provide a better perspective as to the financial implications of purchasing a home.
• Home loans- this is a tricky topic, especially for first-time home buyers. Fixed-rate, hybrid, adjustable rate – which mortgage is right for you? Also, we can help clarify how your credit score and other factors impact your interest rate and life of the loan.
• Loans for home remodeling- if you’re looking to simply enhance your current home (and many people are) our mortgage team can also help with that. After looking at your remodeling plans and financial information and needs, we can recommend a loan that suits your specific needs.

Your home is as much a part of you as anything you will ever own. When looking to purchase your home, contact the experts at LSB Mortgage for helpful guidance. Also, be sure to visit our booth at the HBA of Greater Des Moines’ Home & Remodeling Show this weekend at the Iowa State Fairgrounds!

Examining your tax strategy could mean more money in your pocket.

Filing your tax return is a once-a-year event, and by using all the best filing practices and claiming every deduction you have earned, you can effectively reduce your tax bill. But managing what you pay in taxes throughout the year may help you have an even smaller tax burden. 

Here are a few strategies from Lincoln Savings Bank to help you see a smaller tax bill come April 15.  Consult your tax professional to determine if these strategies might benefit you!

Get a Raise…From Yourself- a big tax refund is nice, but it may also mean that you’re having too much of your hard earned money taken out of every paycheck you get. Recalculate your withholding and fill out a new W-4 with your employer to get more of your money when you earn it.

Start an IRA- if you haven’t already. For the upcoming year you can contribute $5,500 to your IRA ($6,500 if you are 50 or over), so why not take advantage of it? Contributions can be made up to April 15^th.

Give Your Retirement Savings a Boost- you can reduce your tax bill by reducing your taxable income. Stash some of your money into your 401(k) or similar retirement savings plan because it is not included in your taxable income. For 2013, you can contribute up to $17,500 to your 401(k).

Switch to a Roth 401(k)- while you don’t get the tax break for contributions made to a Roth 401(k) like you do for a traditional 401(k), any money taken out of the Roth is tax-free. Taking money out of a regular 401(k) is taxed in your top bracket.

Go for a health tax break- if your employer offers a flex plan, use it. It allows you to put away part of your paycheck for future medical expenses. However, it also allows you to avoid income and Social Security tax on that money, saving you 20-35 percent when compared to spending after tax money.

Pay child care bills with pre-tax money- use a child care reimbursement account if your work offers one. It allows you to pay child care bills with pre-tax dollars, saving you up to one-third the cost because you avoid Social Security and income tax.

These are just a few ways to help lower your tax bill over the year.  Consult your tax professional to find out if these strategies will have a benefit to you.  The financial professionals at LincolnSavings Bank are also available to answer your financial questions, whether you are just out of college, starting a family or working toward retirement. Call or come by any of our branch locations to see how we can help you today!

In a world where more and more things are taking up blocks of time during your day, you don’t always have time to run to the bank before it closes. Fortunately, Lincoln Savings Bank has the technological tools to allow you to bank from your own kitchen or sofa. Our Online Banking system allows you to have total control over your checking and savings accounts from your personal computer or laptop.

One engaging tool available to our customers enrolled in Online Banking is Budget Plus. This free tool is integrated with Online Banking, allowing you to link your various accounts and making it a great tool for managing your household’s finances and budget.

The ability to help you track your spending is perhaps the greatest benefit of the Budget Plus. While some of your monthly expenses, such as your home payment, car loan, insurance and others stay relatively the same, other expenses fluctuate.

By giving you a visual representation of your spending, it helps you see where you can save, as well as places where you may need to allocate a little more money. You can also ensure that you have some “wiggle room” for certain fluctuating expenses such as groceries, gas for your car or utilities for the month. All in all, this Personal Finance Management program gives you the ability to see your financial life as a whole and make well-informed decisions to keep yourself on the right financial path.

You can make this system a part of your fiscal life by opening an account with LSB and then enrolling for online banking. With BudgetPlus, you can ensure that your family will be able to live comfortably, and that you will be on the right path for your future monetary goals.