Financial Education

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...

Whether you have your taxes done by a professional or you do them yourself, it’s important to be organized and have all your important documents ready. When working with a tax preparer, be sure to ask about what information you will need, then organize it based on the professional’s advice. Here are some key documents to consider. Have information about your income sources, such as: W-2’s from employers. 1099 forms that show any investment or interest income. Social...

Watch out for suspicious text messages, emails, and phone calls claiming to be from your bank. These messages or calls may claim that there is an issue with your account needing immediate attention. Or, it may claim that you need to update your account, information, or password. What should you do? Start by being skeptical. It could very well be a scam to steal your money or your personal information. These scams are designed to trick you into divulging important information that...

‘Security’ is a strong word. And it’s at the core of our simple-to-download and easy-to-use mobile banking app. We want you to know that your accounts are protected behind multiple layers of security whenever and wherever you log in with our app. This powerful protection guards you against online fraud so you get safe, secure access to your accounts day or night. And while our mobile app is specially designed with your banking security in mind, experts advise that you...

Scammers are always looking for new victims, and older adults are on their list. These crooks use many ways to target your money or personal information. Here are some things to look for and some suggestions about what to do if you think you might be a victim. Don’t rush into financial decisions. If you’re unsure about anything, ask for an explanation or say you need more time to think about it. Don’t feel pressured to make snap decisions. Don’t give out personal...

If you’ve ever overdrawn your checking account, you’re aware it can be a costly hassle. That’s why it’s important to always keep track of how much you spend, whether it’s shopping with your debit card, using an ATM, or writing checks. An overdrawn account happens when you spend more money than you have, which can result in potentially costly overdraft or transaction fees. Here are a few tips to help you avoid overspending: Always keep track of your spending. With online...

As the threat of a cyberattack continues to be a growing concern for many business owners, now more than ever it’s important to have a plan in place to mitigate the risks of an attack and protect your business and customers. Here are 6 tips to help cyber secure your business: Educate your employees Create security practices for your employees, such as requiring strong passwords and 2-factor authentication. To protect your customers, establish rules on how you and your...

As a small business owner, enhancing your culture could be vital to retaining your employees. When a company has a strong culutre, it leads to happier employees who are more likely to enjoy work and be more engaged with your customers and business. So what is company culture? A company’s culture is a combination of multiple factors including work environment, values, behaviors, attitudes, company mission, leadership styles, communication, expectations, goals, and ethics. Here are 7...

The holiday season is a time of joy, celebration, and giving. However, it's also a time when overspending can easily creep in, leaving your bank account less jolly. To make sure you have a festive season without financial stress, it's essential to set a holiday shopping budget. In this article, we'll share seven practical tips to help you create a budget that keeps your spending in check. Start Early: One of the most effective ways to manage your holiday shopping budget is to start...

As a small business owner, being prepared for emergencies is crucial. Disasters like natural calamities, cyber attacks, and pandemics can occur at any time, affecting your business's revenue and reputation. Having a solid business emergency plan in place is essential. Here are some considerations when creating your business emergency plan: Identify Potential Risks and Threats Start by figuring out the risks that could impact your business. Every business faces different...