Financial Education

Embarking on the journey to homeownership is an exciting milestone, but it's crucial to approach it with careful consideration and foresight. As you prepare to take this significant step, there are several key questions you should ask yourself to ensure you're financially ready for the responsibilities that come with owning a home. 1. How much money do you have saved up? Begin by conducting a thorough assessment of your financial health. Determine the amount of savings you have...

Mail fraud poses a significant threat to both consumers and businesses with the potential to cause financial losses and compromise sensitive information. As the popularity of these crimes continues to grow, safeguarding against this type of fraud is as crucial as ever. In this article, we'll explore essential tips to help you protect yourself from falling victim to mail fraud, ensuring your financial well-being and peace of mind. 1. Retrieve Mail Promptly: Promptly retrieving your mail...

In the dynamic landscape of today's business world, the importance of safeguarding your financial assets cannot be overstated. Small businesses, often the lifeblood of communities, are increasingly becoming targets for various fraudulent activities. Understanding the lurking dangers and implementing preventive measures is crucial for the prosperity and longevity of your business. In this article, we’ll highlight common scams that target small businesses and offer tips on protecting your...

‘Tis the season to be wary of deals that are too good to be true, emails that want to know too much about you, and fake charities that want your money too. While the holidays are a great time for giving, crooks target them for taking - whether it’s your personal information or your money. Here are some tips for avoiding common holiday scams: Beware of online deals that seem too good to be true. If little-known sites are showing prices far below normal or if they claim to have...

Many people dream about retiring early, but it requires diligent financial planning. To determine if you're on the right track to achieve this goal, you'll need to do some careful calculations. In this article, we'll guide you through the process of assessing your readiness for early retirement. Step 1: Calculate Your Expenses First, you need to determine your expected annual expenses during retirement. Consider all your essential costs, such as housing, groceries, utilities,...

When buying a product online or in a store, you might be offered the option to ‘buy now, pay later.’ The question is, ‘What is it and how does it work?’ Buy now, pay later – or BNPL – lets you purchase a product by paying a certain percentage of the cost at checkout, then paying the rest in fixed amounts over a period of time, generally a few weeks or months. Those payments can be linked to your debit card, an account at your financial institution, or possibly your credit...

October is Cybersecurity Awareness Month, a time to educate ourselves about the ever-evolving landscape of online threats and reinforce good cybersecurity practices. In today's digital age, our personal and professional lives are increasingly intertwined with the internet, making it crucial to protect our online presence. This article offers 7 essential tips and additional resources to help keep you safe while online. Use Strong Passwords Create complex passwords using a mix of...

While credit cards and digital payments are becoming more popular, paper checks continue to be a common payment method for many consumers and businesses. However, with a rise in check fraud attempts, it’s important to be alert when accepting or choosing to pay with a paper check. According to the American Bankers Association, attempted check fraud at U.S. banks totaled $15 billion in 2018. Before depositing a check you weren’t expecting or mailing a check to an unknown recipient, here...

Most of us carry at least two pieces of plastic to pay for things – a debit card and a credit card. But what’s the difference between the two? To begin with, think of it this way: With a credit card, you’re borrowing someone else’s money to make a purchase, but you’ll have to pay it back. With a debit card you’re pulling money directly from your own bank account. It’s the difference between taking out a short-term loan or spending only what you have. So which one is...

Should you buy or rent a home? The answer often depends on your finances and plans. What’s the best way to spend your money? How long are you planning to stay in your home? Are you changing jobs or possibly moving? Below are a few factors to consider when deciding if you should rent or own. Perks of Home Ownership: Your payments build equity. You may enjoy tax benefits. You build credit. Overall, most home values increase over time, which...

Buying a home is one of the biggest financial decisions that most people will make. While it is possible to pay for a home outright, many people opt to finance their purchase with a loan. There are many different types of loans available, so it will pay to work closely with a mortgage professional to see which option is best for you. Here are a few of the most common options available today: One set of choices includes conventional vs. government-insured loans. Conventional loans...

When you visit a branch or our website, you’ve probably seen the signs that say: “Each depositor insured to at least $250,000.” Have you ever thought about what that sign really means? The Federal Deposit Insurance Corporation was formed to protect the money deposited into accounts at banks covered by FDIC insurance. So your money is protected up to $250,000 per depositor, per insured bank, for each account category. FDIC coverage separates insured accounts into different...