Setting Financial New Year’s Resolutions with Peoples Bank

Home Blog Setting Financial New Year’s Resolutions with Peoples Bank

Posted On: January 1, 2025 by Peoples Bank of Kankakee County in: Budget Seasonal

As the new year approaches, many of us take time to reflect on our goals and aspirations. Whether you’re dreaming of buying a home, starting a business, or simply building a stronger financial foundation, setting clear financial resolutions can help you achieve your objectives!

At Peoples Bank, we’re here to support you on your journey, offering the tools, resources, and personalized guidance to turn your resolutions into reality.

Why Financial Resolutions Matter

Financial New Year’s resolutions are more than just promises—they’re commitments to improving your life and securing your future. By setting specific, achievable goals, you can gain control over your finances, reduce stress, and create opportunities for growth.

5 Financial Resolutions to Consider for 2025

1. Build a Budget You Can Stick To

A budget is the cornerstone of financial success. Start by tracking your income and expenses to identify spending patterns. Create a realistic plan that includes savings, necessities, and some room for fun.

How Peoples Bank Can Help:
Our Personal Checking and Savings Accounts make it easy to manage your finances, with tools like online banking and mobile apps to manage spending and meet savings goals.

2. Start or Grow Your Emergency Fund

Life is unpredictable, and an emergency fund can provide peace of mind. Aim to save three to six months’ worth of living expenses to prepare for unexpected situations.

How Peoples Bank Can Help:
Our Savings Accounts, higher interest Money Market Accounts, and Flex CD’s offer competitive interest rates, so your money can grow while it’s safely set aside for emergencies.

3. Pay Down Debt

Make 2025 the year you tackle debt. Whether it’s credit card balances, student loans, or medical bills, focus on paying off high-interest debt first to free up more income for other goals.

How Peoples Bank Can Help:
Explore a FlexLine Home Equity to consolidate high-interest debt into a manageable, single monthly payment.

4. Plan for Major Life Goals

Thinking about buying a home, starting a family, or launching a business? Set specific financial goals tied to these milestones and create a plan to achieve them.

How Peoples Bank Can Help:
Our Mortgage Services, Business Banking Solutions, and Retirement Planning resources are designed to help you prepare for life’s biggest steps.

5. Invest in Your Future

Saving for retirement or other long-term goals is critical. Even small, consistent contributions to a retirement account can grow significantly over time.

How Peoples Bank Can Help:
We offer a range of investment and savings options, including IRAs and CDs, to help you plan for a secure future.

Staying on Track with Your Resolutions

Setting financial resolutions is just the beginning. The key to success is consistency and accountability. Regularly review your progress, adjust your goals as needed, and celebrate milestones along the way.

At Peoples Bank, we’re committed to helping you stay on track. With personalized service, innovative banking tools, and a team that truly cares about your success, we’re here to make your 2025 resolutions achievable and rewarding.

Let’s Make 2025 Your Year of Financial Success

No matter what your financial goals are, Peoples Bank is here to support you. Start the new year with confidence, knowing you have a trusted partner by your side.

Ready to begin? Reach out today or stop by your local branch to learn more about how we can help you achieve your financial resolutions!

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in two different ways:

We have standard overdraft practices that are available after your account has been open for 30 days and as long as you maintain your account in good standing.
We also offer an overdraft protection plan, Overdraft Protection Sweep, a link to a savings account. It may be less expensive than our standard overdraft practices. To learn more, ask us about this plan.

This notice explains our standard overdraft practices.

What are the standard overdraft practices that come with my account?

After your account has been open for 30 days and as long as you maintain your account in good standing, we do authorize and pay overdrafts for the following types of transactions:

Checks and other transactions made using your checking account number
Automatic bill payments

We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):

ATM transactions
Everyday debit card transactions

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.

If we do not authorize and pay an overdraft, your transaction will be declined.

What fees will I be charged if Peoples Bank of Kankakee County pays my overdraft?

Under our standard overdraft practices:

We will charge you a fee of up to $30 each time we pay an overdraft.
The maximum daily overdraft fee per presentment or item paid using the Overdraft Reserve Program is $150.00 per day.
No per item handling fee will be charged on de minimis overdrafts. De minimis overdraft for this policy means transactions that overdraw your account by $30 or less.
There is an overdraft fee of $5 per day that will be charged beginning the 4th consecutive business day your account is overdrawn.

Nonsufficient funds (NSF) fees - if an item drafted by you (such as a check) or a transaction you set up (such as a preauthorized transfer) is presented for payment in an amount that is more than the amount of money in your account and we decide not to pay the item or transaction, you agree that we can charge you an NSF fee for returning the payment. Be aware that such an item or payment may be presented multiple times by the merchant or other payee until it is paid, and that we do not monitor or control the number of times a transaction is presented for payment. You agree that we may charge you an NSF fee each time a payment is presented if the amount of money in your account is not sufficient to cover the payment, regardless of the number of times the payment is presented.

PAYMENT ORDER OF ITEMS - The law permits us to pay items drawn on your account in any order (for purposes of this section "items" means checks, orders and electronic transactions). To assist you in handling your account with us, we are providing you with the following information regarding how we process those items. When processing checks and orders drawn on your account our policy is to pay lower numbered checks and orders in numerical sequence, but electronic transactions are paid first in the order received. The order in which items are paid is important if there is not enough money in your account to pay all of the items that are presented. There is no policy that is favorable in every instance. If the smallest items are paid first, you may have fewer NSF or overdraft fees, but the largest, and perhaps more important items (such as rent or mortgage payments) might not be paid. However, if the largest items are paid first, your most important items might be paid but it may increase the overdraft or NSF fees if funds are not available to pay all of the items. We think our policy attains a reasonable balance between minimizing additional costs to you and paying your more important items. We encourage you to make careful records and practice good account management. This will help you to avoid creating items without sufficient funds and incurring the resulting fees.

What if I want Peoples Bank of Kankakee County to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions after your account has been open for 30 days, you may opt in.

You have an ongoing right to change this consent at any time. If your overdraft privilege has been revoked for any reason, the opt-in or opt-out selection may not apply. Please contact your nearest office for more information.

Alternate ways to Opt In/Out or make changes:

By Phone. Our Customer Care Representatives can be reached at 815-936-7600.
By Mail. Peoples Bank of Kankakee County, 333 E. Court Street, Kankakee, IL 60901
In Person. Please visit your local office and ask a representative to help you decide which plan is best for you.