Terrece Fairgood-1st Source Bank
Terrece Fairgood has joined the 1st Source Bank Fort Wayne Team as the new Banking Center Manager Downtown & Community Development Officer. She manages the downtown branch at 200 E. Main St Suite 100, as well as the 1st Source Bank New Loan Production Office (LPO) in the Penta Center located at 2513 S. Calhoun St. The “satellite office” will be used additionally for Community Development, Financial Wellness, and Loan, Mortgage and Small Business Lending meetings. Terrece will work with various 1st Source Bank teams to staff the LPO and continue assisting the southeast community with their credit needs. She will also work closely with John Dortch and the businesses of The Penta Group, Inc. to schedule financial wellness presentations at the Loan Production Office.
Terrece is a native of Fort Wayne, IN and has served in the financial Industry for nearly 15 years. She has helped many community members, organizations, and local businesses with their financial needs; a passion that truly came into fruition from a personal health crisis she faced in 2014.
On a Friday afternoon Terrece became fatally ill with Lupus while at work and went home to rest. However, over that weekend her health declined and she was rushed to the emergency room with little hope of recovering. After hours of testing and waiting she would soon learn that her life of comfort and normalcy would change forever. She had to rely completely on family, friends, and her faith in God during this very difficult time. One week turned into one month, and one month turned into two months. By the middle of the second month her prayers were answered. The doctor informed her that she would be able to return back to work full-time without any restrictions.
Although she had worked in the financial industry for many years prior, it wasn't until her near death experience that she realized how important it was to really take control of getting her own financial affairs in order. Terrece shared, “It’s heartbreaking to see and hear about families having to endure pain and suffering from a crisis while also trying to figure out how they are going to maintain paying bills and other household responsibilities”. She encourages readers to take life seriously by making smart financial decisions NOW. Terrece is very passionate about financial education and wellness for all in the community, especially on the south side where she grew up. She is excited about sharing how to build wealth, use and review credit and help customers create stable financial plans and goals.
Terrece shares 3 important tips to ponder when developing your financial plan:
1. Value life more than money -Create a budget (live within your means) if you can’t afford it, tell yourself it has to wait and work to save up to 3-6 months to replace your income in the event of an emergency.
2. Make sure you have beneficiaries listed on your accounts including, bank accounts 401k-IRA plans insurance policies etc to prevent additional turmoil for your loved ones.
3. Let your money work for you - Review investment and stock options with a financial advisor especially if you are approaching retirement. Generational wealth happens when good money management habits are passed down generation to generation.
Terrece welcomes new clients. If you would like to meet for a financial consultation please call : 260-420-2427.