When did you start your banking career?
Tom: I’ve been in lending with Merchants Bank since December 1988. I started at the Winona location and worked there for two years. Then I moved to La Crescent in January of 1991 and have been here ever since.
What one piece of advice would you give someone looking to apply for a HELOC?
Tom: Do your homework. A HELOC is basically a big credit card with a lot better rate, but the rate can change and some customers don’t understand that. It’s also good to have a firm dollar amount that you’re going to need for your home improvements.
What’s one thing your mom or dad taught you about money?
Tom: Simply, don’t spend what you don’t have. Don’t overextend yourself. Borrow responsibly.
If you won the Powerball what’s the first thing you would do?
Tom: I’d set a charitable foundation up. I know that sounds kind of funny, but it’s truly what I’d do. It would be a nice opportunity to give back.
Besides money, what’s your favorite green thing?
Tom: The grass at Target Field. I love baseball.
If you could start a home remodeling project right now, what would it be and why?
Tom: A sunroom….it would be somewhere to relax.
Contact Tom today to start the application process for your Home Equity Line of Credit. For more information on HELOC options at Merchants Bank, visit our website.