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Rockford bank sees more people looking to save money in pandemic

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ROCKFORD (WREX) — As people lose income during the pandemic, Rockford's Northwest Bank has seen more people looking to save money.

The bank says it's seen an increase in people asking for debt consolidation and refinancing to get lower monthly payments.

It also recommends people create a budget and pay attention to resources like the state's new emergency housing grant.

"Don't take it day-by-day because if you're taking it day-to-day you're just going to run into problems tomorrow," Michael Teleso, a personal banker at Northwest Bank, said. "Try to foresee the foreseeable future."

Teleso advised people to meet with your banker to figure out your finances to avoid running into problems.

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Jena Kleindl

Jena joined the WREX team in May 2020 as the Assignment Editor and News Producer. She was born and raised in Freeport. She received her Bachelor’s degree in Journalism and Media Studies from the University of Wisconsin – Milwaukee in 2020.

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