Loan Payment Crediting Notice

Our policy is to credit periodic loan payments on the business day it is received.  A periodic payment consists of principal, interest, and escrow (if applicable).  If we receive a payment that is less than the amount due for a periodic payment, the payment may be held in a suspense account.  When the full amount of the periodic payment is received the payment will be applied to your account. For determining the crediting of your payment, every day is a business day except Saturdays, Sundays, and federal holidays.   If your payment is received before closing on a business day that we are open, we will consider that day to be the day of your payment.  However, if you make a payment after closing or on a day we are not open, we will consider the payment was made on the next business day we are open.

In-person payments are accepted at the following Peoples Bank locations:

  • 837 N. Wisconsin Street; Elkhorn, WI  53121
  • W5109 Hwy A; Elkhorn, WI  53121
  • 29430 Silver Lake Road; Salem, WI  53168

Payments placed in the night depository at the above locations will be posted the same business day if the payment is received by 7:30 a.m.

Payments may be mailed to Peoples Bank at the following addresses:

  • 837 N. Wisconsin Street, Elkhorn, WI  53121
  • P.O. Box 700; Silver Lake, WI 53170

Payments made via Peoples Bank On-line banking will be credited the same business day if the payment is made by 6:00 p.m. Central Time