Let's all make 2023 a year that we evaluate and improve our financial health.

Step 1: Request your annual free credit report from annualcreditreport.com. If you need assistance understanding items that appear, please reach out and we will help.

Step 2: Start contributing to a retirement savings plan or increase your current contribution level. If your employer doesn’t offer a retirement plan, consider opening an Individual retirement account (IRA).

Step 3: Set aside money from your pay each pay period into savings. Check with your employer to see if they have an automatic deduction option and you will be more apt to follow your savings plan. Pay yourself first!

Step 4: Ensure that your tax withholding levels are appropriate for your current earnings and life situation. After your tax return is complete for 2022, calculate your appropriate withholding rate for the coming year.

Step 5: Evaluate your monthly membership and/or service fees to see if any can be reduced or eliminated. Review items that post to your bank account automatically through our mobile app or internet banking.

Step 6: Prepare a budget and monitor your adherence to it. Our money management tool can help with this by providing colorful charts and graphs that track spending habits.

Step 7: Plan for vacation expenses by opening an adventure fund account with us. You can contribute weekly, and we will pay out your balance plus interest right before summer vacation season. Set up an automatic transfer or payroll deduction so you do not have to remember to save.

2022 was a great year for Calhoun Banks. We were able to assist folks in our communities with the purchase of new homes, vehicles, tractors, etc. through new loans which totaled over $37 million. The majority of this money was spent locally which benefited and strengthened our local economy. We were also able to retain the historically largest amount of earnings into our organization which ensures its strength and stability. We have been serving this community since 1901, and we are still going strong!

- Martha Haymaker; President/CEO