Peoples State Bank of Madison Lake



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We are aware of fraudulent e-mail scams and phone calls that ask you for your account information. Please be aware that we will never request account holder information via e-mail or over the phone phone.  Also, our debit card provider does not request account information via e-mail or over the phone.

What is phishing?
"Phishing" is a growing internet scam in which consumers receive emails that look like they from financial institutions or other legitimate companies asking for personal information such as name, account numbers, credit card numbers and passwords. These emails have links that direct you to a website to supply the requested information. The link you click may launch a program that infects your computer and the site it takes you to is designed to look like the official site but it is just trying to "phish" for your data.

Steps to identify and avoid becoming a victim of phishing:
  • Never provide your personal information in response to an unsolicited request, whether it is over the phone or over the Internet. Bank employees will never ask for your user ID, password, or any other personal information such as your social security number or account number.  E-mails and Internet pages created by phishers may look exactly like the real thing. They may even have a fake padlock icon that ordinarily is used to denote a secure site. If you did not initiate the communication, you should not provide any information.
  • If you believe the contact may be legitimate, please contact Peoples State Bank by calling 507-243-3511. Remember, you can also find phone numbers and websites on monthly statements, or you can look the company up in a phone book or on the Internet.
  • Never provide your password over the phone or in response to an unsolicited Internet request. Peoples State Bank would never ask you to verify your account information online. Thieves armed with this information and your account number can help themselves to your savings.
  • Check your credit card and bank account statements regularly and look for unauthorized transactions, even small ones. Some thieves hope small transactions will go unnoticed. Report discrepancies immediately.

What is vishing?

Vishing combines the techniques of "phishing," which uses e-mail, with "voice," which uses phone methods, to obtain sensitive information from customers.
We have been informed that Advantage cardholders have received calls stating that their debit cards have been compromised or have fraudulent activity happening. The calls are  automated recordings which prompt customers to enter their card numbers, expiration dates, and PINs. The phone numbers being called are primarily cell phones. The card processor does not maintain phone numbers, and these are fraudulent calls. Do not provide your confidential information if you receive such a call.

Steps to avoid phishing, vishing, and online fraud:
Federal Trade Commission Identity Theft Info
Department of Justice Identity Theft site
Identity Theft Help Us site
Federal Trade Commission Phishing Alerts

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By operation of federal law, effective January 1, 2013, noninterest-bearing transaction accounts no longer will be insured by the FDIC as a separate ownership category. Thereafter, NIBTA deposits at an IDI will be aggregated with any other deposits held by the same person in the same ownership category, with the total insured up to the standard maximum deposit insurance amount, which is currently $250,000.

The term “noninterest-bearing transaction account” includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It also includes Interest on Lawyers Trust Accounts (“IOLTAs”). It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts and money-market deposit accounts.

For more information about temporary FDIC insurance coverage of transaction accounts, visit

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