Celebrating 115 Years

We opened our doors in Luxemburg, Wisconsin, 115 years ago on October 6th. In that time, we’ve seen banking trends come and go, but our commitment to serving you and being a part of the community and your life, is as strong today as it was in 1903.

We are thrilled to be celebrating 115 years of banking with you. We’re still here and with you through all stages of life!

To mark our 115th year in business, stop by any one of our locations for a cupcake to help celebrate.

Thank you for your business and support throughout the years! We look forward to being your advisor, partner, and neighbor for decades to come.

115 Anniversary

Pete Roland Joins Bank of Luxemburg Board of Directors

Starting this October, Peter Roland will be the newest member of Bank of Luxemburg’s board of directors. A partner at Bay Lakes Commercial Real Estate for 10 years,

RolaPete Rolandnd brings a total of 18 years of commercial real estate experience to his role on the board. Roland will specialize in commercial real estate evaluations.

“We’re excited to welcome Pete to our board of directors,” shared Bank of Luxemburg President/CEO Tim Treml. “His expertise will provide great value to the board as we continue our mission to have a positive impact on people’s lives!”

Financial Literacy

The Pew Charitable Trusts has a great article about financial literacy.

Credit card logos are posted to the door of a business in Atlanta. U.S. household debt reached $13.2 trillion in the first quarter of this year, the 15th consecutive quarter increase.

When Kentucky state Treasurer Allison Ball and a colleague talked with high school seniors last year about credit cards and other pieces of the personal finance puzzle, something wasn’t right.

“We kept using the word ‘interest’ and we kept getting blank stares,” Ball recalled. Finally, she asked the students who knew what interest is. No one did.

“Here they were, about to be adults, two weeks before graduation — and they had no idea about interest on credit card payments,” said Ball, a former bankruptcy attorney. “That’s exactly how you get into trouble.”

Kentucky is the 44th most financially literate state, according to a WalletHub analysis based on 15 metrics, including the availability of high school financial literacy classes and the share of adults with rainy day funds. And the state has the eighth-highest personal bankruptcy rate, with 345 bankruptcy filings per 100,000 residents. But this year Kentucky launched a two-part initiative to help its residents better live within their means.

Beginning with ninth graders in 2020, Kentucky will require a financial literacy course before high school graduation. And assuming the courts allow its work-for-Medicaid plan to proceed, the state will offer financial literacy instruction to some Medicaid recipients who are required to work.

Kentucky’s focus on requiring financial education reflects a budding consensus among policymakers, academics, the finance industry and parents that states need to do more to ensure that students — and adults — learn how to manage credit, craft a budget, borrow for large purchases and save for retirement.

Three other states — Arizona, Iowa and Louisiana — also added financial literacy course requirements for high school graduation this year, according to the National Conference of State Legislatures.

New Mexico, which already requires a high school personal finance course be offered, will study how to provide financial literacy training to foster care children and help them manage checking and savings accounts. Kansas, which does not require a course, passed a law this year requiring financial assistance for individuals receiving compensation for wrongful convictions.

Until this year, only 17 states required a personal finance course for high school graduation, according to the Council for Economic Education’s 2018 Survey of the States.

Deeper in Debt

The uptick in activity this year comes as Americans sink deeper in debt. U.S. household debt reached $13.2 trillion in the first quarter of 2018, the 15th consecutive quarter increase. That’s higher than in the third quarter of 2008 during the financial crisis. Student loan debt reached a record $1.5 trillion in the first quarter of 2018.

As students have taken on more debt, more state and private universities have started to offer them financial literacy workshops and counseling.

But Stacey Abrams — a Democrat running for governor of Georgia, and the former minority leader of the Georgia House of Representatives —  knows firsthand that a top-notch education and a high-paying job are no guarantee against personal debt.

Owing more than $200,000 in credit card debt, student loan debt and federal back taxes, Abrams has a repayment plan with the IRS.

“I am in debt, but I am not alone. Debt is a millstone that weighs down more than three-quarters of Americans,” she wrote in an op-ed in Fortune, arguing that her indebtedness should not keep her from becoming governor.

“I had racked up student loans, and throughout college and beyond, I’d swiftly turned every credit card application into those magical slivers of plastic that allowed me to pay for daily necessities,” she wrote.

Even when she finished Yale Law School in 1999 and landed a job paying $95,000 a year — three times more than her parents ever made combined, she said — Abrams remained mired in debt because family members needed her help. She used her credit cards again.

If elected, Abrams says she will start a Georgia FinLit Initiative with instruction for kids in elementary school.

For states, pressing forward on financial education means a raft of questions and answers that are likely to anger one group or another. Do we make financial literacy a condition of graduation? Will it be a stand-alone class or covered with other subjects? And, of course, how will we pay for it?

In Kentucky, policymakers tried and failed for at least six years before enacting the financial literacy measure into law.

“The answer to fixing this crisis long-term begins in childhood,” Ball, a Republican who has made financial literacy a priority, wrote in an op-ed endorsing the measure. “The best time to learn basic principles of saving and money management is before a person graduates from high school and enters the workforce.”

Kentucky’s work-for-Medicaid plan is currently on hold. On June 29, a federal judge stopped the rollout scheduled for July 1 and sent the plan back to the federal government, which granted the waiver that allowed Kentucky to add the requirements. The state hopes the plan will be reapproved by fall, said Adam Meier, secretary of Kentucky’s Cabinet for Health and Family Services.

If Kentucky proceeds, Medicaid recipients who fail to meet the work requirements will be offered a choice of online health or financial literacy classes. Members also will be able to take the classes to build credits toward dental or other benefits not included in their benefits package. They will learn such things as how to budget, open a bank account, balance a checkbook and deal with credit.

Nearly a third of Kentuckians receive Medicaid.

“Financial literacy is an issue across the board, but it’s particularly acute with low-income people, who are often unbanked and more vulnerable to payday lenders,” said Meier.

Does It Work?

Meanwhile, the Kentucky Department of Education is drawing up standards for the high school financial literacy requirement. School districts will have wide latitude in deciding how to satisfy the requirement, Ball said. No statewide test is likely, nor is there a budget for the new requirement. She said she plans to form a public-private foundation to cover costs.

There’s no shortage of educational materials by financial institutions and other organizations, and some are free. But there’s a complication.

“People cannot find results that financial literacy education works,” said Lauren Willis, a professor at Loyola Law School in Los Angeles and a prominent critic of financial literacy education.

While it’s possible to test someone’s knowledge of financial concepts like compound interest or inflation, there’s no way to know whether he or she remembers and acts on the concepts over a lifetime.

“It used to be, the way credit was managed, if the bank gave you a loan, you knew you were credit-worthy,” Willis said, because banks wouldn’t make risky loans. “Now you have to decide for yourself whether to take a loan and what kind.”

Willis works with the FoolProof Foundation, a nonprofit based in Florida that provides resources to help students and adults become more skeptical consumers.

Some studies have failed to show much effect of financial literacy education even in the short term. Annamaria Lusardi, academic director of the Global Financial Literacy Excellence Center at George Washington University, said that’s likely because the programs were poorly structured and funded.

“Too few states consider financial literacy essential or rigorous or a scientific topic,” she said. “We see states that don’t require the student to pass the course, or they don’t train the teachers, or it’s an unfunded mandate.”

Other countries do better. The United States ranked 14th in the world for financial literacy in Standard & Poor’s 2014 Global Financial Literacy Survey of more than 140 countries. Only 57 percent of American adults were found to be financially literate.

Ideally, every state would require a financial literacy class with an exam for high school graduation, said Laura Levine, president of the JumpStart Coalition for Personal Financial Literacy, a nonprofit based in Washington, D.C. That’s not likely anytime soon, so the coalition has a more modest aim.

The coalition, which has more than a hundred national organizations as members as well as affiliates in every state, launched Project Groundswell in April. The goal: to increase by a quarter the number of elementary, middle and high school students receiving “effective classroom-based financial education” by 2025. The coalition is working on specific goals and standards for effective programs.

Groundswell hopes to inspire more parents like Daniel Nestel in Montgomery County, Maryland, and grandparents to get involved.

Nestel, whose background is in financial education, was surprised when his 10th-grade daughter said she was learning about credit scores in her Advanced Placement government class.

“It seemed completely out of context,” said Nestel. “It’s too important to be taught at the end of the class at the end of the school year.”

Nestel started reaching out to local and state school officials and to financial literacy experts. He learned the Maryland Board of Education set financial literacy standards for grades 3 to 12 in 2011, but left implementing them up to each school district.

He wants a semester course on financial literacy with exams in high school.

“I’m trying to start the conversation,” he said. “Tell me what course is more important than personal finance? It touches every student.”


June Dairy Month

Bank of Luxemburg is proud of our local farmers! The amount of hard work and dedication that goes into running a farm does not go unnoticed. At Bank of Luxemburg we offer a variety of financial services to help farms of all shapes and sizes to grow and prosper for generations to come.June Dairy Month

We strive to have a positive impact on people’s lives whether that mean saving you time with our business checking accounts or a line of credit to purchase cattle or to purchase that 40 acre parcel across the street. Our convenient branches make dropping off a deposit or signing paperwork a trouble-free experience.

Our commitment to the communities we serve shines through to our community involvement and local decision making. Bank of Luxemburg has locations in Kewaunee, Door and Brown counties.

Luxemburg Bancshares, Inc Declares Dividend

Luxemburg Bancshares, Inc., parent company of Bank of Luxemburg held it’s annual meeting on May 15, 2018 and announced a semi-annual dividend of $.63 per share, payable on June 15, 2018, to shareholders of record as of June 1, 2018. The current dividend is an increase of $0.03, compared to the June 2017 dividend of $0.60 per share paid on June 15, 2017.

The shareholders elected Lynie J. Vincent to the Board of Directors of Luxemburg Bancshares, Inc. Mr. Vincent is the Vice President and co-owner of N.E.W. Plastics Corp. located in Luxemburg. He is also a managing partner of Fulcrum Container in Twin Cities, MN. The Shareholders re-elected Raymond J. Balza, David S. Rueckl, and Robert G. Van Drisse. Mr. Raymond Balza is the Controller for America’s Logistics, LLC in Green Bay. Mr. Rueckl is the owner and operator of Rueckl Oil, a northeast Wisconsin fuel oil distributor.  Mr. Van Drisse recently retired as the president and co-owner of Van Drisse Insurance Agency, Inc., an independent insurance agency with offices in Green Bay and Luxemburg.

President Tim Treml noted, “Continued dividends are one example of the solid financial position of Luxemburg Bancshares, Inc. and Bank of Luxemburg. The company has a 35 year history of paying and increasing dividends on an annual basis. The bank is expecting to maintain profitable operations through 2018 and beyond with substantial deposit and loan growth.”

Luxemburg Bancshares, Inc. and Bank of Luxemburg have banking offices in Luxemburg, Green Bay, Kewaunee, Dyckesville, Casco, Algoma and Sturgeon Bay. For more information about Luxemburg Bancshares, Inc. contact Tim Treml at 920.845.2345.

April is Community Banking Month

Where you choose to bank matters.

Your choice of bank is your vote on where your money goes. Are your hard-earned deposits reinvested back into our local community? Or are they sent off to a banking hub in another state or halfway around the world?

As more consumers realize the benefits of keeping their money local, we encourage you to think about how banking locally can go a long way in helping the communities we serve thrive. We have eight locations in Brown, Door and Kewaunee Counties to meet your needs!

For example, when you deposit funds into a community bank, you can trust that your money is being redistributed back into the community in the form of loans to fellow residents and entrepreneurs.

At Bank of Luxemburg, we have the privilege of serving local residents and their families by making loans that help them buy a home, pay for a vehicle, or send a child to college—whatever it is, we’re there and happy to lend a hand. We also have the honor of serving many of our town’s small businesses through loans to help them get started, grow and succeed.

We’ve also served many of the local farms and agricultural enterprises that have been part of our community for generations. We are working with the next generation of entrepreneurs to help launch their exciting ideas and bring our community into the future. This is local money at work—a symbiotic relationship between bank and community that makes sense.

We encourage you to think about where you bank and how your money has the power to make a meaningful impact on our community. From local farms to craftsmen to startups, banking locally with a community bank connects you to your community and your neighbors and gives everyone a stake in its financial success. Here are a few reasons why:

  • Community banks respect the communities we serve by doing right by their customers and community. Community banks and local communities have symbiotic relationships—one cannot thrive without the other.
  • Community banks are relationship lenders. They know their customers and understand their financial needs, unlike larger institutions that take a transaction-based approach to banking.
  • Community banks understand and celebrate local economies. As small businesses themselves, community banks are an unequivocal resource for entrepreneurs looking to launch a local small business. A study from seven Federal Reserve Banks found that small businesses that apply for loans with community banks are the most successful and most satisfied.
  • Community banks give back. Serving local communities is second nature to community banks. At Bank of Luxemburg, we take pride in making our community stronger through various service projects. Recently, we organized the annual Easter Egg Hunt in Luxemburg. The bank also hosts The Big Read for kids to learn more about how to save money. These are just a few of the things we do in our community to have a positive impact on people’s lives.

Making our community better and stronger is something that we all have a stake in. We hope you will join us in continuing to make the areas we serve thrive and prosper for years to come! Learn more at http://www.bankofluxemburg.com.

Lynie Vincent New Board of Director

Lynnie VincentBank of Luxemburg is pleased to announce that effective January 23, 2018, Lynie Vincent has been added to their board of directors. Mr. Vincent has strong ties in the community where he is an owner and vice president of sales and marketing at N.E.W. Plastics Corp., co-owner and managing partner at Fulcrum Container, Inc. and a co-owner of other varied area businesses.

A graduate of St. Norbert College, Mr. Vincent is following in the footsteps of his father who was previously chairman of Bank of Luxemburg’s board of directors. According to Mr. Vincent, “I’m excited to join the Bank of Luxemburg Board, where I’ll have the opportunity to offer my knowledge and expertise to help the bank grow and thrive. I’m also looking forward to working with the other board members. They are a fantastic group and I’m sure I will learn a lot from them.”

Member FDIC

Lending Staff Promotions

Effective January 1, Bank of Luxemburg promoted Garrett Jesko to vice president of commercial lending. Garrett began his career with Bank of Luxemburg in 2009.HGarrett_Jeskoe has been instrumental in Bank of Luxemburg’s growth, especially in the Green Bay Market. Jesko has developed and manages the largest loan portfolio at the Bank. Jesko holds a finance degree from University of Wisconsin–Whitewater. He worked for four years as a credit analyst prior to coming to Bank of Luxemburg. “I look forward to continuing to grow Bank of Luxemburg’s presence in the Green Bay market.”

Also effective January 1, Jake Dittmann was named commercial loan sales officer. Jake joined the Bank as a loan sales officer in April 2015 and has been active in numerous committees throughout the bank. He recently participated in Leadership DevelopmeJake Dittman Professionalnt and Process Improvement Training. Dittmann holds an economics degree from University of Wisconsin – Green Bay. He worked for five years as an assistant vice president/office manager and for two years as a home mortgage consultant at two financial institutions prior to coming to Bank of Luxemburg. Dittmann is an Army Veteran and was deployed to Iraq in support of Operation Iraqi Freedom. “In my 10 years as a lender, I’ve always enjoyed developing trusting relationships with new and existing customers and I look forward to doing the same in my new role as commercial loan sales officer.”

Garrett will continue working at the Bellevue Branch and Jake relocated to the main branch in Luxemburg.

Offering full-service personal and business financial solutions since 1903, Luxemburg Bancshares, Inc. and Bank of Luxemburg have banking offices in Luxemburg, Green Bay, Dyckesville, Casco, Algoma, Kewaunee and Sturgeon Bay. For more information about Luxemburg Bancshares, Inc., visit www.bankofluxemburg.com. Member FDIC

Dillon Voltz Portfolio Manager

Dillon R. Voltz has recently been promoted to portfolio manager. Voltz, who grew up in a farming family, will focus part of his efforts on the agricultural lending segment in addition to more general business lending.

A graduate of UW-River Falls Voltz holds a bachelor’s degree in business administration wDillon Voltzith an emphasis in finance. This promotion is the result of a job well done, as he has served as a credit analyst at the bank for the past year. “I’m excited to work with local farms and businesses—to help them grow or start up into the Agricultural Industry—while at the same time helping those customers and the bank with responsible lending structures and tactics.” said Voltz.

 Voltz lives in Green Bay and in his free time he enjoys doing many outdoor activities, including hunting and fishing, in addition to lifting weights.

 Offering full-service personal and business financial solutions since 1903, Luxemburg Bancshares, Inc. and Bank of Luxemburg has banking offices in Luxemburg, Green Bay, Dyckesville, Casco, Algoma, Kewaunee and Sturgeon Bay. For more information about Luxemburg Bancshares, Inc., visit www.bankofluxemburg.com.


Bank of Luxemburg Recap


Happy holidays from your friends and neighbors at Bank of Luxemburg! At this time of year we would like to take a moment to thank all our customers for the trust you put in us throughout 2017.

We’re proud to be a community bank, celebrating and supporting our hometowns all year long. From our annual Easter egg hunt to summer cookouts… from marching in local parades to sprinting through fun runs…from toy drives and much, much more… Bank of Luxemburg is honored to take part in so many worthwhile and fun events.

    • Kewaunee Cookout – benefiting Kewaunee School District, raising $1,225
    • Algoma Cookout – benefitting the Algoma Library FriendsIMG_5422 – Book Corner, raising $1,055
    • Dyckesville Cookout – benefiting Dyckesville Lions, raising $815.50
    • Bellevue Cookout – benefiting the Brown County K-9 Unit, raising $1,081
    • Luxemburg Cookout – benefiting Kewaunee K-9 Unit, raising $1,255
    • Sturgeon Bay Cookout – benefiting Door County K-9 Unit, raising $750
    • School Supply Drive – Kewaunee County locations were drop off sites for the Kewaunee County School Supply Drive
    • Dairy Dash – the bank team helped raise funds benefitting the Violence Intervention Project
    • Easter Egg Hunt—the bank donated, organized and volunteered for the event at the Community Center in Luxemburg
    • Big Read—as part of Money Smart Week, we read Just Saving My MonDyckesville Check Presentationey, created a Little Critter Puppet, gave out coloring books and copies of the book and served milk and cookies to local children
    • Minute 2 Win It—the bank team helped raise money for Door Kewaunee Business Education Partnership
    • Floats in the Algoma, Luxemburg, Dyckesville, Kewaunee, Casco and Sturgeon Bay Parades
    • Toys for Tots Drive


Employees of Bank of Luxemburg also raised funds by paying $25 a quarter to wear jeans on Fridays. Quarterly, the money is given to different organizations :

  • 2017 First Quarter CP Telethon – $1,325
  • 2017 Second Quarter Ribbon of Hope – $1,558
  • 2017 Third Quarter Feeding America – raised $1,733. The Kewaunee County Feeding America Event will take place on May 12, 2018.
  • 2017 Fourth Quarter Giving Tree – Several families in Kewaunee, Door and Brown Counties are given presents as well as much needed items for their families for the holidays. The Giving Tree includes Bank of Luxemburg employee donations as well as donations from others within the communities we live and serve.
  • No Shave November – Employees who participated donated $10. Money raised was donated to the American Cancer Society. Employees raised $150!

Thanks to our incredible customers, it’s been a great year for Bank of Luxemburg and the communities we serve. We’d like to wish you and yours a warm, safe and merry holiday season and a very happy 2018!