Bill Coffee - Coffee Talk

Coffee Talk – 1st Quarter 2020

Bill Coffee - Coffee Talk

Bill Coffee, Chief Executive Officer

When I started writing this blog a few weeks ago, we hadn’t heard much about COVID-19. Today, we shelter in place! Together, we will get through this health crisis and emerge with a renewed commitment to each other, our communities and our state. That’s why I believe it’s important we continue to celebrate achievements in our businesses, our local community organizations and neighborhoods.

I am so proud of our employees and their ongoing commitment to our customers and our company. In this edition of Coffee Talk, I look back at 2019, our continued growth and the many enhancements our team implemented to provide you with the best in banking services.

Convenient Banking

2019 was a year of growth and innovation for Stockman as we focused our efforts on building a better banking experience for our customers. After months of planning, we introduced a new online and mobile banking service last year that allows you to conveniently and easily manage your money all in one place.

Mobile Banking

Enhancing our technology services is part of our overall goal to give you the freedom to bank whenever and wherever it’s convenient. This option has become even more important as we work from home, attend school from home, and practice physical distancing to stop COVID-19. We continue to serve our customers through our drive-ups and by appointment because we believe that technology should enhance customer service, not replace it.

That is why we offer:

  • Banking online from home, work or out in the country from your laptop or tablet.
  • Banking from your mobile phone.

Our commitment to technology, convenience and state-of-the-art services is ongoing and new programs are currently under development.

Growth and Community Commitment

We continued to grow in 2019, opening our third branch in Missoula and welcoming more customers to the Stockman family. We remain the largest, family-owned, privately-held community bank, and the 4th largest bank in Montana.

Brooks

Our commitment to our communities continues to be strong. We donated more than $1.3 million and several thousand volunteer hours in 2019, helping to make our Montana communities better places to live and work. At Stockman, it is truly neighbors serving neighbors.

Glendive Homecomint

Local Leadership Matters

Our success over the past year is due to the dedication and hard work of our almost 800 executives, managers and employees who live and work in the communities they serve. Why is local leadership and service important? We believe it’s an integral part of being a community bank. Understanding and commitment is not learned in a book or briefly acquired by “transferring in.”

It’s different at Stockman. All of our executive leaders and board directors live and work in Montana. In fact, most were born and grew up here. They understand what it means to be a Montanan and the unique needs of our customers and communities. This extends to our bank management around the state who are active in our communities, responsive, and easy to reach. Most importantly, decisions are made locally. Our customers don’t have to wait for someone in another state to make a loan decision!

We Are Here For You
These are not just words to us. We live these ideals every day, providing the highest level of local service to you, our customer. We are all living through this changing time that only a few weeks ago didn’t seem possible. Know that we will continue to work with you personally and with your business. The cliché you often hear, “Your bank is your partner” is sincerely how we operate through good times and bad. We have weathered many storms in our 65+ years of operation. We will weather the Covid-19 pandemic as well.

If you are financially impacted and need our support, call your local Stockman Bank to make an appointment or you can contact Central Customer Service at 1 (877) 300-9369 from 7:30 AM – 5:30 PM, Monday through Friday, and 9:00 AM – 1:00 PM on Saturdays.

Stay home. Stay safe. Take care of yourselves and your loved ones.

Bill

Bank Disclosures

COVID:19 - Social Distancing

COVID-19 : Keep your hands to yourself!

We may have to Keep Our Hands to Ourselves for awhile, but that doesn’t mean it will be forever. We can still be social and keep our distance.

Pig on a treadmill

Building a Savings Account

Savings accounts are one of those things we never worry about until our car breaks down or our basement floods. The idea of taking money from an already tight budget feels like a pretty daunting task, but why does it have to be? Here is a simple list of tips to create a financial buffer.

Review your spending.

Our Money Management Tool makes setting a budget simple. The budget bubbles make it easy to see where your money is being spent. Identifying where you may be able to cut back makes budgeting feel less like jumping over a hurdle and more like frolicking through a meadow with Bambi.

Savings: Phone in Back Pocket - Money Management Tool

Cut back on nonessential purchases.

Now that you have a picture of what your finances look like, it’s easy to look at areas where you might be over spending and cut back (or cut out all together) where you can.

Some of these areas might include:

  • Getting coffee only on pay days instead of every day.
  • Going to lunch once a week rather than every day. Find out how much you could save with our Lunch Savings calculator.
  • Going out to dinner with your friends/significant other once a month rather than weekly.
  • Purchasing generic brand alternatives when grocery shopping rather than springing for name brand.
  • Cutting back on your phone bill – do you really need the unlimited data plan?

Consolidate your debt.

Save on interest payments by consolidating your credit cards and personal loans into one payment. We make it easy to calculate your savings with our Debt Consolidation calculator.

Set a series of small goals.

Once you have a better understanding of your financial picture, you can start to set goals. For example, if you want to save $1,000 by the end of the year, your small goal could be setting aside a small amount of money each day – let’s say $3.00 a day. That’s doable and look how it adds up!

  • In 1 month I will have saved $100
  • In 3 months I will have saved $250
  • In 6 months I will have saved $500
  • In 9 months I will have saved $750
  • In 12 months I will have save $1000

Savings: Pig on a treadmill

Be flexible.

Notice, each month you may not save a full $100. From month 1 until month 3, you are allowing yourself to have a $50 buffer between what you want to save and what might not be practical. If you end up saving $300 or more, great! This brings you ahead of your target for the month and it gets you closer to your year end goal.

Set up an automatic transfer to withdraw money on your pay days.

If you take money off the top of your pay check, you won’t even miss it. This makes your first priority saving money and it will make it easier to keep your savings goals on track.

Find another source of income.

If you have completed all of these steps and still find yourself pressed for cash, it might be worth your time to explore other options to keep your cash flow running.

Here are a few ideas:

  • Create a side hustle
  • Take on freelance work
  • Sell something
  • Pick up a part-time job

Are you ready?

If you haven’t already opened a savings account, we would love to talk to you about the options available. We are confident that there is the perfect account for your way of life and saving strategy! Call to schedule an appointment or visit your local branch today.

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