the Hangout

Forward Bank’s Charitable Money Market Account Reaches Over $1 Million in Donations January 17, 2020

Local charities are a key component in keeping our communities strong. They fill unique and important niches in helping us all with the educational, spiritual, cultural, social and health aspects of our lives. To provide a consistent donation stream for our local charities on behalf of our customers, Forward Bank created the Charitable Money Market Account (CMMA). This month over $160,000 was donated back to over 278 worthwhile organizations participating in the program, bringing the grand total to over $1 million since the program launched.

“2019 has been a year of milestones – we celebrated our 100 year anniversary, grew to $500 million in assets and now we’ve reached over $1 million in donations through the Charitable Money Market Account program,” said Bill Sennholz, CEO/President at Forward Bank. “The donations from the CMMAs continue to grow each year because of the thoughtfulness of our customers and the relationships we’ve built in our communities.”


CMMA 2019 Donation - Marshfield Hockey AssociationCMMA 2019 Donation - School District of Owen-Withee


To open and maintain a CMMA, all the customer needs to do is open the account, designate a participating non-profit organization, school, or church, and keep a balance in their account throughout the year. At the end of the calendar year, Forward Bank will make a donation to the designated charity on behalf of the customer based on their average account balance. 33 organizations received donations over $1,000 this year thanks to customers who designated them as their charity of choice!


Open a CMMA today to start saving for YOURSELF and your favorite CHARITY!

GET – Checking Account with these features:

    • No minimum deposit to open
    • No monthly fee
    • No minimum to earn interest
    • Free online banking
    • Fee debit/ATM card
    • Free direct deposit
    • Free bill pay


SAVE Earn interest at a competitive rate similar to a savings account with the convenience of a checking account.

                Check out current rates.


GIVE Forward will make a donation to a charity on your behalf based on your average balance – no money is taken from your account.


Open your CMMA at a location near you or open it online!

Or log into your Online Banking account to get started.


Forward Bank Pledges $24,000 to Pirate Ship Productions in Gilman January 14, 2020

Forward Bank recently pledged $24,000 toward the Gilman School District Pirate Ship Productions for the purchase of two plasma CNC machines. The balance of the $32,000 needed for the equipment is being requested from community members and businesses likely to benefit from the newly trained students.

Pirate Ship Productions logo

In 2019, Pirate Ship Productions was established at Gilman High School. The purpose of this student-run business is to establish manufacturing skills through wood working and metal working. Together, tech ed and business classes are working together to learn all aspects of running a small business. Students develop, produce, market, and sell hand-crafted products to individuals and businesses in Gilman and the surrounding areas. The items we designed and sold include cutting boards, etched glass, etc.

Also, in 2019, Pirate Ship Productions partnered with Artisans in Glen Flora, WI. The school received donated equipment that will allow them to create, market, and sell apparel.

All profits earned by Pirate Ship Productions will be given back to the students in the form of scholarships. Students will not be paid directly for their contributions to these classes. They will receive school credit and will be eligible to receive a scholarship if profits warrant. We have a goal of providing 15 scholarships of $10,000 annually to junior and senior high school students.

“Supporting programs through our schools that build our future workforce is vital to the ongoing success of our communities,” commented Bill Sennholz, President & CEO of Forward Bank. “Pirate Ship Productions not only develops hands on skills helpful for joining local companies, it fosters business proficiencies that are extremely helpful regardless of the industry students move in to.”


Forward Employees Surpass Previous Years to Reach $25,000 For the Annual United Way Campaign January 13, 2020

Forward Bank presents $25,000 to United Way

Left to Right: Angie Domine, Dave Clark, Vicky Peterson, Holly Zopfi, Dave Krause, Marisa Steinbach, Ashley Winch, Chris Damerell, Krystal Bowman

The Forward Bank, Investment and Insurance team was proud to present the Marshfield Area United Way with a check for $25,000. The donation is the largest gathered by the employees of Forward, and it includes the proceeds of the annual employee drive and the company match.

“I’m proud to watch all of the employees at Forward challenge one another to surpass the previous year’s giving to the United Way,” said Bill Sennholz, President & CEO of Forward Bank. “The annual internal fundraising campaign demonstrates the creativity and drive for teamwork that all of our colleagues possess. We all understand the important role that the United Way plays in healthy and strong communities, and many of our staff show that by volunteering their time for ongoing projects as well.”

Additional efforts to support area United Way initiatives are still ongoing. On February 8, the Forward team is hosting a 9-hole Snowshoe race in Withee in support of the Clark County United Way. Click here to be directed to the Facebook event for more details.

The Value of Annuity Tax Deferral January 8, 2020

One of the major benefits of choosing a fixed annuity as a retirement savings vehicle is tax deferral, but do you know what that means? Let’s review this concept in more detail.

Tax deferral is the means by which the payment of taxes on certain assets can be delayed until some future date. Tax-deferred assets grow untaxed, meaning interest compounds until the money is withdrawn.

Compounding is the process by which the money you earn from an investment can be reinvested to make more money. As a hypothetical example, let’s say you invest $10,000, and it earns interest of 10% per year. In the first year, you will earn $1,000 in interest.

Senior grandfather and a small girl sledging on a winter day.

In the second year, you will earn $1,100 in interest. Why? Because both your initial investment of $10,000 and the additional $1,000 you earned in the first year earn interest ($11,000 total). Each year, you keep earning more: $1,210 in the third year, $1,331 in the fourth year. By the end of the fifth year, your $10,000 will have grown to $16,105.

Tax deferral is important for two reasons. First, because your investment returns aren’t reduced by income taxes every year, you experience potentially higher overall returns during your annuity’s accumulation phase. Second, it is possible that you may experience a lower tax rate when you withdraw the assets. Since you probably will not withdraw the assets you are accumulating in your annuity until later in life, when you could be in a lower tax bracket, you could minimize the taxes you have to pay on withdrawals. That is not true for everyone, but it is true for many.

There are also other tax-deferred investment vehicles. Which one is right for you? Forward Investment Services can help you decide if a fixed annuity is a good tax-deferred investment vehicle for your financial portfolio. Contact us for more information.

Fender Bender? Take These Key Steps After an Accident December 26, 2019

woman looking at car tire on snow covered road

Even the best drivers are at risk of fender benders. With so many variables on the road, accidents happen. In the U.S. alone, an average of 6 million accidents occur each year. If you’re among this number, it’s important to know the next steps to take. If you find yourself in a car crunch, follow these procedures:
Safety first: If possible, pull your vehicle to the side, out of traffic, but in a safe, public place. Use caution when engaging the other driver if you suspect road rage is involved.
Damage assessment: Find out if anyone is hurt and call 911 if medical assistance is needed. After personal injuries are taken care of, assess the damage to the vehicles. Take pictures to document any damage.
Information gathering: Record the names of everyone involved. Try to get witness information if possible. Include in your records the car registration, insurance, car make and model, and license information for all drivers. If you hit a parked car, don’t leave the scene before finding the owner. If you can’t locate the owner, record the details of the accident and leave a note with your contact information.
Police notification: Contact law enforcement to alert them of the accident. Document the names and badge numbers of the officers involved and find out how you can get a copy of the accident report. If officers don’t come to the scene, go to the nearest police station to file a report. You may also be able to do this online.
Claim process: Notify your insurance carrier as soon as possible to start the claim process. By following the procedures above, you will have all the information and documentation you need to make this a smooth process.

Blog Archive

Follow Us on FacebookIcon For: Facebook Widget