Your Chamber Board Chair, Tony Pulley announces First Federal Savings Bank of Wabash as the Business of the Year. "First Federal has been a part of our community for decades and has consistently been active in our community and in the Chamber of Commerce while adding stable employment and hometown service," stated Pulley.

In response to the honor of Business of the Year, President and CEO Nicholas George said, "We are extremely honored and proud to be chosen as Wabash Area Chamber of Commerce Business of the Year."

First Federal began business in Wabash in 1920 as Home Loan and Savings in response to a community needs survey conducted by the Chamber of Commerce. In 1968, the board granted permission for the establishment of a branch office in North Manchester. A Syracuse branch opened in 1977. In 1982, a branch office was built at 1205 North Cass Street, Wabash. It is currently the home office of the corporation. First Federal has 38 part and full time employees.

Due to the deregulation of banking in the early 80's, First Federal was allowed to enter all aspects of banking. Today they offer a complete line of services including checking accounts, consumer loans, commercial loans and home equity loans. Other special services include Certificates of Deposit, ATM cards and debit cards. Seeing the popularity of alternative investment products, George and the board of directors believed it necessary to offer investment services including life insurance, stocks, mutual funds, bonds and annuities.

When asked about the future, George stated, "Our future goals are to remain a community bank and meet or exceed the banking and financial needs of the communities we service. We are looking toward opportunities to expand or grow in business and services."

First Federal Savings Bank will be honored as the Business of the Year at the Wabash Area Chamber of Commerce Annual Dinner Meeting, Thursday, November 7, 1996.

Hopefully, you realize most of the opportunities Chamber membership affords you, your business and your employees. Some of those opportunities include exposure for your business via the BuyerŐs Guide and other directories; your listing on the World Wide Web through the ChamberŐs home page on the Internet; exhibiting at a BBH or Wabash Showcase - A Business Expo; referral service from the office (we refer Chamber member businesses when inquiries come in); and networking opportunities at all Chamber functions. Also, development opportunities for you and your employees are available through low cost seminars.

Some advantages you receive donŐt even take any effort on your part. For example, your Government Affairs Committee keeps a watchful eye on our elected officials and makes them aware of the business perspective on bills that may be introduced. Did you realize that the Wabash Area Chamber of Commerce is the only business organization in Wabash County that represents businessŐs interest in the Legislature?

There is another advantage that your Chamber membership affords you that requires a little effort on your part - a phone call. A little more than a year ago the Wabash area Chamber of Commerce joined AT&T in an agreement that gives Chamber members special discounts on a variety of domestic and international long-distance business services, including toll-free 800 Service and fax calls.

Many of you have already signed up for AT&TŐs Profit By Association program and are receiving your 5% "members-only" long distance discounts. Some of you may be AT&T customers anyway but may not be receiving your "Chamber member discount" simply because AT&T doesnŐt realize that you are a Chamber member.

Here is what you do to take advantage of this membership benefit: call 1-800-235-2738 and tell them that your business is a member of the Wabash Area Chamber of Commerce and you want to know more about the Profit By Association program. AT&T will explain the various long distance plans available to you and what the discounts are.

What have you got to lose? You have to have long distance service anyway, you might end up saving money! So, go ahead and make the call, its toll-free!

Home based businesses are on the rise! There are an estimated 15 million Americans who operate businesses from their homes.

Home based business gives you the flexibility you may need or desire in your life while reducing overhead and operating costs.

The following are some tips small businesses may need to consider:

1. Back up computer files and store them in another location in case of fire or theft. A new computer can be purchased, but you may never be able to replace clients data, vital statistics, or bookkeeping records.

2. Home owners insurance policies will not cover anything connected with your business. If a customer falls and breaks her leg coming to your home for business purposes; your home owners policy will not cover the costs incurred.

3. Small businesses should have a business phone line. You can not put an ad in the yellow pages without having a business line (there are options available in lieu of a direct line, discuss the possibilities with your phone company.)

4. If your business qualifies as a home based business under the IRS regulations, you may deduct a percentage of your rent, heat, electricity and other expenses to reduce your taxable income. (For more information on how to take the home-office deduction and what expenses qualify, you can contact the IRS office at 1-800-829-1040. Ask for Publication 587, Business Use of Your Home and Publication 334, Tax Guide for Small Business. These publications are available free of charge.)

5. If you are seeing clients in your home, make sure to make the environment as professional as possible (this may include keeping animals in another part of the house, make baby-sitting arrangements for your children and letting the answering machine handle any personal phone calls.)