Peoples Bank gives $25,000 to Lenoir-Rhyne College

Peoples Bank has donated $25,000 in support of the Mauney-Schaeffer project. In recognition of this gift, the Career Center Interview Room will bear the Peoples Bank name. In addition to the Alex Lee Career Center, Mauney-Schaeffer will house the Charles M. Snipes School of Business, School of Social and Behavioral Sciences, School of Computing Sciences and Mathematics and Conference Hall.

An independent bank based in Newton, Peoples Bank is dedicated to making a positive impact on the quality of life in the community through education.

President and CEO, Tony Wolfe, a 1970 Lenoir-Rhyne business graduate, said: “From the example set by my professors at Lenoir-Rhyne, I learned how to mentor and manage employees. That knowledge has been invaluable to me in the banking business, so I wanted to support a project that would help succeeding generations of students achieve success in their careers as well.”

Dr. Wayne Powell, president of Lenoir-Rhyne, said: “We are very appreciative of this generous gift from People’s Bank. Their support of the Mauney-Schaeffer project and fellow banker Charles Snipes is typical of the commitment they have to higher education and Lenoir-Rhyne.”

Peoples Bank will become the first commercial bank in the state to open a branch in Charlotte specifically for Latinos this month. Banco de la Gente will be the first branch of Peoples to open in Mecklenburg County. Peoples Bank has 15 offices in Catawba, Lincoln and Alexander counties.

Peoples Bank also supported Lenoir-Rhyne’s Centennial Renewal Campaign. The bank is a charter member of the college’s Business Council and the Piedmont Educational Foundation. Wolfe is a former board member of the PEF. Peoples Bank is also a member of the college’s Founders Society.

What are people saying about mortgages today:

Rates on 30-year mortgages edged down last week to a seven-month low. Mortgage-giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages fell to 6.3 percent, down slightly from 6.31 percent two weeks ago. It put rates at the lowest level since they were at 6.24 percent the first week of March.

Bank of Hawaii, Central Pacific Bank, Territorial Savings Bank and Wells Fargo Home Mortgages all cut their 30-year mortgage rates to 5.75 percent this week.

Most people think of a mortgage as a means to an end. After all, you buy a house, not a home loan. But a mortgage is much more than the path to homeownership. It is a financial instrument that must be managed, just like any other financial investment.