Of the $700 billion bail out plan, so far more than $150 billion of it has gone into the banking system. But only 21 banking companies in the nation get this money.

So what does that mean for you and banks in the Chippewa Valley?

Dean Olson, President of Charter Bank in Eau Claire, says the bail out is designed to boost the banking system back to normal, so banks can stay steady and consumers can get reasonable rates.

"If they're comfortable with the direction their bank is heading, should help increase the normal flow of credit coming out of the bigger banks," Olson says.

No major, commercial banks would talk on camera, but both US Bank and Wells Fargo say they're open for business -- Wells Fargo describing themselves as "well-funded."

But they say that doesn't mean they're giving out more loans.

"The economy really is too fragile to increase your risk level and drop your under writing standards," says Olson.

As for the local banks -- they can apply for the money, but most of them don't want it because of the strings attached.

Here's three of the main trouble makers:

First, the company accepting the money has to expand the flow of credit.

Second, the company has to use some of the money to strengthen the housing market.

And third, the company has to comply with any changes made to the agreement after the signing date.

"There's the fact that the government is your partner for like 10 years. Even after you pay this off, they still have the rights to come in and buy your stock,” Olson says. “And because of the rights to buy your stock, they still dictate some of these other things like compensation."

But despite the negatives, Olson says he believes the overall bail out plan really will boost the economy.

"It can give consumers faith that the banks will get back to normal operations," he says.

Olson says our state is "well capitalized," meaning there's enough money on reserve to help banks survive. So although some may be struggling, they're still sound.