Ask A Banker Videos
See our bankers in action as they talk about specific products and services offered by Waukesha State Bank!
What is a HELOC? How can I use it?
Presented by: Gerry Benton, Bank Manager - Meadowbrook Rd. Office, NMLS #1151292
Video Transcript:
Your home is an investment. A Home Equity Line of Credit allows you to access those funds for literally anything you might need. Some examples are a home remodeling project, a new car, or education expenses. HELOCs are great for when you don't know how much you're going to need, when you don't want to take out of savings, or for emergencies, like when your water heater or furnace breaks down. Much like a credit card, you can use it, pay it down and use it again. We offer competitive rates because your home is a great source of collateral. Take advantage of your investment today.
What is an ACH?
Presented by: Matthew Fischer, Bank Manager - Sussex Office, NMLS #2137050
Video Transcript:
When it comes to banking, ACH stands for Automated Clearing House, which is a network that coordinates electronic payments and automated money transfers. ACH processing is the electronic payment method used to transfer funds between savings and checking accounts.
Some examples of ACH transactions you might be aware of are:
- Vendor payments made by businesses
- Bank-to-bank transfers
- Recurring bill payments
- Direct deposits from your employer
What Would I Keep in a Safe Deposit Box and Why?
Presented by: Lorena Graterol-Jordan, Personal Banker - Waukesha - Downtown Waukesha Office, NMLS# 2052541
Video Transcript: Renting a Safe Deposit Box can give you peace of mind when it comes to keeping your items protected as they are a secure, private and cost effective way to store essential records, documents or other valuables that would be difficult or expensive to replace. A Safe Deposit Box is a contained metal box that is stored in the most secure area of the bank, and is essential for storing items like birth and death certificates, social security cards, passports, legal documents, wills, and much more. We have many sizes to accommodate your items and specific needs at various locations throughout Waukesha County. Call or visit your local office today to find out more!
What is a Bridge Loan?
Presented by: Scott Hart, Senior Sales Manager, NMLS #: 526247
Video Transcript: A bridge loan simply liquidates the equity of your current home to use as a down payment towards the purchase or construction of your next home. Although not all bridge loans are created equal. At Waukesha State Bank, we have structured our program to tap into 90% of the appraised value of your home. And then after closing, you’ll make interest-only payments, making the transition into your next home much easier on your monthly budget.
What is the difference between a pre-qualification and a pre-approval?
Presented by: Craig Mariani, Mortgage Consultant, NMLS #: 282092
Video Transcript: One question I get asked a lot is, “What is the difference between a pre-qualification and a pre-approval?” Well, pre-qualification is an opinion made by a loan originator, such as myself, based on conversations had with borrowers. Often credit is pulled, sometimes documentation is reviewed, but for the most part the information provided by the borrower is verbal.
What is a pre-approval? On the other hand, a pre-approval is a credit decision made by an underwriter that can only be contingent upon a few items, such as the sale of a current home, appraisal, and no changes to the borrower’s situation. To get a verified pre-approval from Waukesha State Bank, a credit report, along with income and asset documentation, are submitted to an underwriter, who then verifies that that information is both accurate and adequate to approve an individual for a mortgage loan on any given property. A verified pre-approval gives a level of certainty that can help get accepted offers in this competitive real-estate market.
Why Waukesha State Bank? Here at Waukesha State Bank, we have all the standard agency and government loan products, but we also have a vast array of innovative portfolio loan products as well. And our on-staff, professional underwriters are experts in all of them. You can rest assured that a verified pre-approval from Waukesha State Bank will not be substandard or flimsy in any way. Your success is our success.
What is Treasury Management?
Presented by: Claire Bessette, Vice President - Commercial Banking Officer
Video Transcript: Treasury Management consists of additional services that a bank offers to its business customers in the banking relationship. It can be divided into three different areas that have payment, collection and protection. Under the payment portion, we would offer services such as ACH, which is a way to make payments electronically while paying employees or vendor payments. Under the collection portion, we would use a service such as Remote Deposit Capture. This is a way to get your payments that you’re receiving into the bank quickly and safely. Under the protection piece, we offer services such as Positive Pay, which is a way to protect your checking account from fraud. Waukesha State Bank will review your accounts with you, along with the processes that you currently have in place. At that point, we would make recommendations to improve efficiency, save your company money, and to provide protection from fraud on your banking accounts. Our goal is to help you do what you do best, which is to run your business and let the bank do the rest.