It seems we hear all too often about some form of fraud - whether it be identity theft through an email scam, debit card/credit card hackers using your card number to make purchases, or so-called businesses calling people at home and asking for their bank information. As consumers, we all need to be aware of these scams and know how to protect ourselves from them.
Please keep in mind that a bank will never contact you for personal information, always make sure to tell the person on the phone that you do not give out that type of information, immediately hang up, and then contact your bank to let them know what happened. The easiest way for ID theft to happen is by scammers obtaining your bank account number or social security number - NEVER, EVER give that information out over the phone or via an email. No legitimate company will ask you for that.
Another thing to be aware of is ATM fraud. As I was listening to the radio last night, the announcers were discussing a new scam that muggers are attempting. Here is what happens; the mugger will watch someone use an ATM, wait for them to go to their car, and then they knock on the car window with a $20 bill in their handing claiming it was left it at the machine. When they get that person to open their door or roll down their window, that is when they rob them.
It may seem scary, but nowdays we all just need to be extra cautious of our surroundings, especially while using an outdoor ATM that you walk up to. Safety should always be your first concern when making a withdrawal at an ATM. Following are some good tips to keep in mind:
Pay attention to your surroundings. Consider taking a friend with you if you use an ATM at night or in a deserted area.
Park in a well-lit area close to the ATM, and prepare your transactions before approaching the ATM.
Close the entry door completely upon entering an ATM facility equipped with a door.
Do not permit any unknown person(s) to enter an ATM facility with you after regular banking hours.
If you notice something suspicious or feel uncomfortable, cancel your transaction and leave the ATM immediately.
Report all crimes immediately to the operator of the automated teller machine or to local law enforcement.
When using an ATM or point-of-sale (POS) terminal, shield the keypad while entering your PIN number. Whenever possible, use your body as a shield.
Put your cash in your handbag or pocket immediately; wait to count it until you get home or are safely in your car (with the doors locked).
Memorize your PIN number. Do not write your PIN number on your card and never give your PIN number to anyone. The bank will not call you to request the information
Always remember to protect your ATM card as you would cash, checks, or credit cards. Report lost or stolen cards immediately.
ATM/Debit cards are a safe and convenient way to instantly access your cash, offer worldwide acceptance, and the funds come directly out of your checking account. And because purchases and ATM withdrawals are listed on your monthly statement you can track your spending, and can notice immediately if there are unauthorized charges being made. You simply need to be vigilant in your efforts to protect your card and your personal information. We encourage you to visit our online education center at http://www.reliabank.com/. There you will find a wealth of information about avoiding ID theft and fraud.
Tuesday, March 31, 2009
Wednesday, March 25, 2009
Kids and Money
Yesterday David and I spent an hour with the Estelline High School seniors in their finance class discussing everything from loans, balancing a checkbook, the economy, credit cards, and any other questions they wanted to ask. It was a good learning experience for them as they prepare to head out into the "real world". We engaged the group by giving them gift certificates whenever someone answered a question correctly or asked a question and contributed to the discussion. This certainly perked everyone's interest!
So how can you help your kids understand financial management? In a nut shell, you need to prepare them at an early age and continue teaching them through their teen years.
Kids as young as three are capable of understanding what money is and how to save to buy things at a later date. For small children, have them save for short term things such as a toy; a year is too far out for small children to comprehend, have them save for a couple months and they will celebrate the success when they see what they have accomplished. Our Super Eagles Kids Club (ages 12 and under) helps with this accomplishment by offering the child a special prize when they reach savings goals. It's a great way for them to have fun while developing good saving habits.
Pre-teens and teenagers need to understand the concept of saving money and not buying every "want" that comes their way. Distinguishing between a want (something you think you have to have) and a need (something that is necessary to survive, such as food) is important as well as having some sort of simple budget in place to understand money coming in and money going out. Balancing a checkbook is essential to good financial management also. By keeping track of deposits and what checks and debit card transactions are taken out of the account each month, the better chance of staying away from the dreaded overdraft charges. Remember; just because you have check blanks, doesn't necessarily mean you have money in your account! Online banking is a great way to keep on top of your accounts and its available to you 24/7.
Kids learn by watching how adults handle their money. Be a good teacher and talk to your kids about good money management. These lessons will stay with them long after they've left the nest.
Lisa, Marketing
So how can you help your kids understand financial management? In a nut shell, you need to prepare them at an early age and continue teaching them through their teen years.
Kids as young as three are capable of understanding what money is and how to save to buy things at a later date. For small children, have them save for short term things such as a toy; a year is too far out for small children to comprehend, have them save for a couple months and they will celebrate the success when they see what they have accomplished. Our Super Eagles Kids Club (ages 12 and under) helps with this accomplishment by offering the child a special prize when they reach savings goals. It's a great way for them to have fun while developing good saving habits.
Pre-teens and teenagers need to understand the concept of saving money and not buying every "want" that comes their way. Distinguishing between a want (something you think you have to have) and a need (something that is necessary to survive, such as food) is important as well as having some sort of simple budget in place to understand money coming in and money going out. Balancing a checkbook is essential to good financial management also. By keeping track of deposits and what checks and debit card transactions are taken out of the account each month, the better chance of staying away from the dreaded overdraft charges. Remember; just because you have check blanks, doesn't necessarily mean you have money in your account! Online banking is a great way to keep on top of your accounts and its available to you 24/7.
Kids learn by watching how adults handle their money. Be a good teacher and talk to your kids about good money management. These lessons will stay with them long after they've left the nest.
Lisa, Marketing
Friday, March 20, 2009
Reliabank Home Show Winners
Thanks to everyone who stopped by our booth during the Watertown Home Show held March 6-8. We had many people stop by to visit, and sign up for our prize drawings CONGRATULATIONS to our winners!
Travis Torgerson, Mortgage Lender, presents Ron Bergan
with his new Patio Fire Pit
Willis DeWitt, VP, presents Brianna Johnson with her new bike!
Travis Torgerson, Mortgage Lender, presents Ron Bergan
with his new Patio Fire Pit
Willis DeWitt, VP, presents Brianna Johnson with her new bike!
Thursday, March 19, 2009
Estelline Today
The Estelline Horizons group has started a new service for the citizens of the Estelline Community. This service - called Estelline Today - is a telephone bulletin board that is updated daily with local news and activities of general interest to keep the community informed in a timely manner.
If you live in or around the city of Estelline, simply call 873-4EST (873-4378) for up to date community information!
If you live in or around the city of Estelline, simply call 873-4EST (873-4378) for up to date community information!
Wednesday, March 18, 2009
Scholarships Available at Reliabank
If you are a high school senior, chances are you've been fairly busy trying to figure out what you want to do with your life after graduation. Finding the perfect college, and applying for student loans and scholarships can leave your head spinning!
When it comes to scholarship money, as you know, there are many resourses out there for you. At Reliabank we offer various scholarships to 4-year colleges/universities, and 2-year tech schools both in-state and out of state. To apply, simply click the link below to take you directly to our scholarship, where you can print out a pdf of the application. Keep in mind, these need to be turned in by April 1st.
Good luck!!
http://www.reliabank.com/documents/2009scholorship.pdf
When it comes to scholarship money, as you know, there are many resourses out there for you. At Reliabank we offer various scholarships to 4-year colleges/universities, and 2-year tech schools both in-state and out of state. To apply, simply click the link below to take you directly to our scholarship, where you can print out a pdf of the application. Keep in mind, these need to be turned in by April 1st.
Good luck!!
http://www.reliabank.com/documents/2009scholorship.pdf
Thursday, March 5, 2009
Home buying or refinancing? Visit us!
Spring will be here before you know it, and with mortgage rates at an all time low, you may be looking to buy a new home. If you are considering refinancing your current home, or moving to a new place, our loan specialists are here to help you. We offer a variety of products for purchasing your first home, moving to a larger home or refinancing your existing mortgage. Our experienced loan staff can answer all your questions before and after loan completion as well as helping you with other financial needs in the future.
As a reminder - you may qualify for the 1st time homebuyers tax credit!
http://www.hbasiouxempire.com/site/publisher/files/2009%20HS%20Seminar%20Schedule(6).PDF
As a reminder - you may qualify for the 1st time homebuyers tax credit!
Tax credit is for first-time home buyer only
The tax credit does not have to be repaid
The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000
The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009
Single taxpayer with income up to $75k and married couple with incomes up to $150k qualify for the full tax credit
On a sidenote, if you're looking for something to do this weekend:
Friday, March 6, marks the opening day of the Watertown Home Show. Many of you will be venturing to the Extension building this weekend to view all the new home products and services available in our area. While you're at it, make sure you stop by our Reliabank booth and sign up for great prizes!
Friday also begins the 50th Annual Sioux Falls Home Show at the Convention Center. Everything from the latest new home construction techniques, remodeling ideas, appliances, cabinets, plumbing, financing and much more will be on display.http://www.hbasiouxempire.com/site/publisher/files/2009%20HS%20Seminar%20Schedule(6).PDF
Monday, March 2, 2009
A Savings State of Mind
March has come in like a lamb, and rightfully so. With the winter we have endured this past season - we all deserve a break! Have you noticed how a bit of sun can perk up even the grumpiest of people? However, as the old saying goes "in like a lamb, out like a lion" - lets all hope that this does not hold true in 2009.
Speaking of getting a break, we know everyone is feeling the pinch of the economy, so its no surprise that we've had many customers asking how they can save during these difficult times. What do we tell people? Start saving now and stick with it. Just by making a few changes to the way you shop and save can make a huge difference.
First, set a few short-term and long-term financial goals to work towards, like a down payment on a car or home. Include the dollar amount and a time frame for achieving the goal. It's much more motivating to save when you know what you're saving for.
Set up a separate savings account. If you mingle your savings with your regular checking account, you'll almost certainly dip into your savings and may never pay them back.
If you don't already have a written budget that includes tracking your expenses each month, begin one now. Writing a budget will allow you to get a handle on overspending. No matter how much money you make in a year, you need a budget. If your expenses exceed your income, it's time to cut back! Make a list of things you can live without - and start weeding out these items. Do you really need three different magazine subscriptions? When going window shopping - don't take any cash with you, why be tempted? Skip going to the movies and rent one instead. Do you eat lunch out everyday? Try bringing a sack lunch a couple days a week. Walk to work instead of driving - good for you, and your pocketbook! How about skipping your daily specialty coffee at over $4 and make your own coffee at home? Buy generic on household products instead of name brands. The money you can save on "wants" will really add up over time.
If possible, have your employer deduct a set amount from your paycheck each pay period and deposit it into your savings account automatically. This is an easy way to increases your chance of success with automatic deposits or transfers.
Whenever unexpected money comes your way, put all or most of it into your savings account. Bonuses, salary increases, tax refunds, rebates, overtime pay, income from hobbies or yard sales can add to your savings account nicely without requiring additional cutbacks.
Following a few of these tips will leave you with a substantial chunk of change - just stay in the savings state of mind!
Speaking of getting a break, we know everyone is feeling the pinch of the economy, so its no surprise that we've had many customers asking how they can save during these difficult times. What do we tell people? Start saving now and stick with it. Just by making a few changes to the way you shop and save can make a huge difference.
First, set a few short-term and long-term financial goals to work towards, like a down payment on a car or home. Include the dollar amount and a time frame for achieving the goal. It's much more motivating to save when you know what you're saving for.
Set up a separate savings account. If you mingle your savings with your regular checking account, you'll almost certainly dip into your savings and may never pay them back.
If you don't already have a written budget that includes tracking your expenses each month, begin one now. Writing a budget will allow you to get a handle on overspending. No matter how much money you make in a year, you need a budget. If your expenses exceed your income, it's time to cut back! Make a list of things you can live without - and start weeding out these items. Do you really need three different magazine subscriptions? When going window shopping - don't take any cash with you, why be tempted? Skip going to the movies and rent one instead. Do you eat lunch out everyday? Try bringing a sack lunch a couple days a week. Walk to work instead of driving - good for you, and your pocketbook! How about skipping your daily specialty coffee at over $4 and make your own coffee at home? Buy generic on household products instead of name brands. The money you can save on "wants" will really add up over time.
If possible, have your employer deduct a set amount from your paycheck each pay period and deposit it into your savings account automatically. This is an easy way to increases your chance of success with automatic deposits or transfers.
Whenever unexpected money comes your way, put all or most of it into your savings account. Bonuses, salary increases, tax refunds, rebates, overtime pay, income from hobbies or yard sales can add to your savings account nicely without requiring additional cutbacks.
Following a few of these tips will leave you with a substantial chunk of change - just stay in the savings state of mind!
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