Merchants Capital Resources, Inc. Changes Name to Merchants Bank Equipment Finance

BrolsmaBrad

Bradley Brolsma, President

Merchants Capital Resources, Inc. has changed its name to Merchants Bank Equipment Finance as of January 1, according to President Bradley R. Brolsma.

“Our new name better describes what we do best, and that is financing the equipment needs of our customers,” Brolsma said of the company, founded in 1988.

Merchants Bank Equipment Finance primarily provides equipment financing options to businesses located throughout the central U.S. and also partners with other finance companies in equipment finance transactions outside of their marketing footprint.  The company finances tangible assets over terms of 2 to 10 years, on equipment with values generally ranging from $50,000 to over $10 million.

Merchants Bank Equipment Finance tailors equipment financing options to best meet the needs of its customers across many industries, including construction, transportation, healthcare, manufacturing and food and agriculture. Brolsma pointed out the name change will not change the positive experience of current and prospective customers.

“Our same knowledgeable staff will be ready to help current and new customers with their equipment financing needs,” Brolsma said. “We’re looking forward to this next chapter in our growth.”

The name change also more closely aligns Merchants Bank Equipment Finance with the brand of its parent company, Merchants Bank, N.A., which is a business banking leader in southeastern Minnesota and west-central Wisconsin. Merchants Bank Equipment Finance will now operate as a division of the Merchants Bank parent organization, as opposed to a wholly owned subsidiary.

Merchants Bank was founded in 1875 in Winona, Minnesota, where it remains headquartered. Merchants Bank is a member FDIC and equal housing lender. Financing is subject to approval.

Prevent Fraudulent Charges to Your Business

Merchants Bank's Positive Pay

The 2015 True Cost of Fraud survey by Lexus Nexus estimates that every $100 of fraud actually costs businesses $223.* So how can you prevent fraud from costing your business its reputation and money? Use a service like Merchants Bank’s Positive Pay to detect fraud on a daily basis.

What is Positive Pay?
Positive Pay is a service that helps you detect fraudulent checks that are presented on your account. Only checks that match a pre-approved list, which you provide to the bank, are automatically paid. All other checks presented for payment must receive authorization or may be rejected by you.

How does it work?
Each day, you provide the bank with an electronic inventory of the checks you have issued. When the checks presented on your account each day are processed, Positive Pay matches your account number, check number and dollar amount of each check presented for payment against a list of checks previously authorized and issued by your business. All three components of the check must match exactly. When a check is reviewed that isn’t a match in the file, it becomes an “exception item”. The business reviews the image and can instruct the bank to pay or return the check.

Why should my business use it?
With Positive Pay, you can essentially eliminate the possibility of fraudulent checks being posted to your business account. Plus, in addition to the money you’ll save by preventing fraud, there is no need to purchase additional equipment to use Positive Pay.

How can I start using Positive Pay?
Contact one of our Cash Management specialists today.

*http://www.lexisnexis.com/risk/insights/true-cost-fraud-infographic.aspx

Welcome to New Staff

KunshierHaleyHaley Kunshier has joined Merchants Bank as a Teller in Hastings. Haley is currently attending Inver Hills Community College for an Associate’s Degree in Arts with an emphasis in Biology. Her hobbies include fishing, hunting, playing guitar and hanging out with her friends and family. She also enjoys photography and traveling.

 

 

MidtlienAbbyAbby Midtlien has joined Merchants Bank as a Teller in Onalaska. Abby previously worked at Festival Foods and Five Star Telecom. She is a Junior at UW-La Crosse where she is studying Accounting. Outside of school, she enjoys being active, running and playing sports. During the summer, Abby spends most of her time on the river with friends and family. She is also an aunt to two boys and two girls and spends a lot of time with them.

 

PalubickiCindyCindy Palubicki has joined Merchants Bank as a Teller in Winona. Cindy previously worked at Kwik Trip for 18 years and before that worked at Merchants Bank in Customer Service. Cindy and her husband, Duane, live in Goodview and have 5 daughters, Keelyn, Morgan, Alecia, Aubrey and Addysen. They love to play fast pitch softball and basketball as a family.

Tax Scammers Target Might Target You: Here’s What to Do

Tax Scam Awareness

It’s that time of year — tax time. It’s also a great time to get up to speed on tax-related scams. Here are two ways tax scammers might target you and what you can do about it:

Tax Identity Theft
This kind of identity theft happens when someone files a fake tax return using your personal information — like your Social Security number — to get a tax refund. Tax identity theft also happens when someone uses your Social Security number to get a job. You find out about it when you get a letter from the IRS saying:

  • More than one tax return was filed in your name, or
  • IRS records show wages from an employer you don’t know

If you get a letter like this, contact the IRS Identity Protection Specialized Unit at 800-908-4490. You can find more about tax identity theft at ftc.gov/taxidtheft and irs.gov/identitytheft.

IRS Imposter Scams
This time scammers aren’t pretending to be you — they’re posing as the IRS. They call you up saying you owe taxes, and threaten to arrest you if you don’t pay right away. They might know all or part of your Social Security number, and they can rig caller ID to make it look like the call is coming from Washington, DC – when it could be coming from anywhere. Leaving you no time to think, they tell you to put the money on a prepaid debit card and tell them the card number right away.

The real IRS won’t ask you to pay with prepaid debit cards or wire transfers, and won’t ask for a credit card number over the phone. When the IRS contacts people about unpaid taxes, they usually do it by mail. You can report IRS imposter scams to the Treasury Inspector General for Tax Administration (TIGTA) online or at 800-366-4484, and to the FTC at ftc.gov/complaint.

Visit IdentityTheft.gov
IdentityTheft.gov is the federal government’s one-stop resource to help you report and recover from identity theft. You can report identity theft, get step-by-step advice, sample letters, and your FTC Identity Theft Affidavit. These resources will help you fix problems caused by the identity theft.

Shawn Sackman Named Senior Lending Officer for Merchants Bank’s Southeast Region

Shawn Sackman, Senior Lending Officer

Shawn Sackman, Senior Lending Officer and Senior Vice President

Shawn Sackman has been promoted to Senior Lending Officer and Senior Vice President for Merchants Bank’s Southeast Region, according to Southeast Regional President Jay Friedl.

“This is an excellent opportunity for Shawn, and one that he has earned and deserves,” Friedl said. “The people who will benefit the most from this are our other commercial bankers in the region, who will learn from him, and all of our customers throughout the area, who benefit from his dedication to serving their needs.”

Sackman will work as senior lending officer for Merchants locations in Rushford, Lanesboro, Spring Grove, Caledonia, La Crescent and Onalaska, where he has worked as a Commercial Banker and Vice President since 2011, when he joined the Merchants organization.

“This position allows me to help our commercial bankers to continue to build long-term relationships with our existing customers and meet the needs of new customers,” Sackman said. “My knowledge will help our team to be responsive to our customer lending and cash management needs. It’s a great team, and I look forward to mentoring and coaching them.”

Before joining Merchants, Sackman had worked as a Senior Business Relationship Manager in the area for a large national bank from 2000 to 2011. He’s a native of Montana and a graduate of Viterbo University in La Crosse. He is very involved volunteering in the area and was awarded the 2015 Volunteer Award by the Great Rivers United Way.

Visit our website for more information on our commercial and business loans, cash management tools and other business accounts.

Subject to approval. Equal Housing Lender.

“10 Days of Giving” Ends at 231,233 Pounds

10 Days of Giving

Final tallies put the 2015 “10 Days of Giving” at 231,233 pounds of food, the third highest total in the food drive’s 27-year history.

The total breaks down to $99,208 in cash and 32,817 pounds of food. For the purposes of the total, two pounds of food are counted for each dollar. The 27-year total for pounds of food collected now stands at 2,839,415. The most food collected was in 2013, with just over 280,000 pounds.

“I believe through the work of everyone in the community we have gone a long way toward our goal of making sure no one in Winona County goes hungry this winter,” said Jennifer Welch, who is co-chair of the food drive. “So many of our employees worked to support and facilitate the drive. I know they are pleased with the outcome.”

More than 30 area schools and child-care centers and more than 120 businesses participated in this year’s drive. You can find a listing of this year’s participating schools and businesses here.