Challenge Yourself To Save As Much As You Spend On Holidays

The Holiday Savings Challenge

 This holiday season, America Saves is challenging you to not only to be smart in the way you budget, but to save one dollar ($1) for every dollar you spend. It isn’t as crazy as it sounds –

1. Make your list and check it twice. Develop a list for your upcoming holiday, and be as honest about the dollar amount as possible. Include any costs for gift-giving to family, friends, and colleagues, travel, food, or entertainment that might be associated. Do you give a little extra tip to your babysitter, hair stylist, or favorite barista? We often forget to include these gifts in our budgets, so be sure to add them, too.
2. Prioritize and negotiate. What do you need to make it a happy and successful holiday? Divvy up your list into needs versus wants. You need to pay for travel to your holiday destination, but maybe you can pack some food from the pantry rather than buying a meal along the way. The goal here isn’t necessarily to shorten the length of your list (although doing so will help, too), but rather to negotiate the dollar amounts for your list down.
3. Tally it up and set your savings goal. Add up the sum total of your holiday list, and don’t be shy about negotiating it down some more. Once you’re at a number (and a list) that is both realistic and manageable, take that final amount and set it as your savings goal for the season. Those who make a commitment to themselves and their family to save usually save more than those who don’t.
4. Make it automatic. Every time you cross an item off the spending plan, set up a transfer from your checking account into a savings account. This isn’t necessarily something that you can set on autopilot, but rather can establish as an automatic habit. Starting this process as early as possible can also help you to renegotiate your spending plan if you find that you are having a hard time matching.                                                             

You don’t have to let holidays break the bank. Join the ranks of those opting to reduce spending and prioritize savings this holiday season. You, too, can reduce spending and save money. To learn more about spending and saving during the holidays and take the America Saves pledge, visit AmericaSaves.org.

                                                                                                                       

Tammy Greynolds works for America Saves, managed by the nonprofit Consumer Federation of America (CFA), which seeks to motivate, encourage, and support low- to moderate-income households to save money, reduce debt, and build wealth. Learn more at AmericaSaves.org.

Visit ILUVMYBANK and tell us why you love your community bank - RELIABANK!

You could win!

Smithback Elected to Board of Directors

David W Johnson, CEO of Reliabank, announces the elections of Robert Smithback to the Reliabank Board of Directors.


“Our bank started over 90 years ago as one serving agriculture and ag families and we have a wealth of talent on the board with backgrounds in agriculture. We were looking for someone like Robert who knows and understands, commercial real estate in Sioux Falls and area towns like Tea and Hartford. We feel that he has a great knowledge of the commercial real estate market in the Sioux Falls area. This will be beneficial to Reliabank as we continue to grow our southern branches,” states CEO Johnson.

Smithback is owner of RES Construction, LLC, in Sioux Falls, SD. He and his wife Nancy have three children and eight grandchildren. As a long time member of Faith United Presbyterian Church of Brandon, he has served as an Elder and Sunday school teacher. Smithback also works with youth related activities and received the YMCA Service to Youth Award in 2001.

RES Construction, LLC is a long time member of the Home Builders Association of the Sioux Empire.

Scholarships Available Now!

Scholarship Application

Reliabank announces scholarship applications are now available to high school seniors who will be graduating in 2013. Visit our website at the above link, or visit with your school counselor for more details.

Good luck Class of 2013!

Community Banking = Hometown Investment

Don’t Be Spooked: Switching To Your Local Community Bank
Is a Hometown Investment You Can Be Proud of—Not Scared of!

As Halloween approaches, the Independent Community Bankers of America (ICBA) and RELIABANK are once again reminding America’s consumers that their local community bank is a safe haven from scary bank practices that can leave many banking customers spooked. With more than 7,000 community banks across the nation, banking with your local community bank is a hometown investment you can be proud of—not scared of.

“As local small businesses themselves, community banks only thrive when their customers and communities do the same, so taking care of our customers and looking out for the best interest of our community is just the way they do business—no tricks about it,” said Jeff Gerhart, chairman of ICBA.

This Halloween season, savvy consumers should treat themselves to what a community like Reliabank offers:

• Sweet Service. Community banks such as RELIABANK are relationship lenders that focus on the needs of local families, businesses and farmers. Because they know their customers and their customers know them, they are able to provide superior, personal customer service. When consumers call their local community bank, they’ll be reassured to know that they won’t be talking to someone halfway across the globe. Instead, they will be talking with their community banker who lives and works in the same community they do.

• Deposits. Community banks lend locally where their depositors live and work, keeping local communities vibrant and growing. By choosing a community bank, you’ll be putting money where it belongs—back into the community you call home. And since community banks pay federal, state and local taxes, they are also a key supporter of their community’s local infrastructure, making it a better place for all residents to reside. Some tax-subsidized credit unions masquerade as community banks but do not pay any taxes to support their local communities.

• Expertise. Because community bankers live and work in the same communities as their local customers, they understand their local marketplace and the ups and downs of economic cycles in their community. This is especially helpful in allowing them to serve the needs of their small business customers who rely on them as strategic partners in their small business endeavors. Community banks rely on the health of the local marketplace so they stick with their customers through good times and bad.

• Local Decision-Making. Instead of being headquartered hundreds of miles away, community bankers are accessible to their customers on site, where they can talk to a real human being—not a robot. Since many community banks are willing to consider character, family history and discretionary spending, they are often able to be more nimble in their decision-making when it comes to loan needs and qualification and in the selection of financial products and services.

• Trust, not Tricks. Community banks offer relationships you can bank on for years to come. Because many community banks have been around for over 100 years and are often family-owned and -operated, you’ll know that the financial needs of you and your family are being met by local residents running the financial institution that has your best interest in mind. They wouldn’t be in business if they didn’t.

• Civic Loyalty. Community bankers are typically deeply involved and committed to making their local communities a better place to live. In fact, many community banks across the country donate service hours and money to important local causes.

Whether located in small towns, suburbia or big-city neighborhoods, community banks improve America’s communities. In fact, community banks under $10 billion provide nearly 60 percent of small business loans between $100,000 and $1 million. Representing more than 24,000 locations nationwide and employing nearly 300,000 Americans, ICBA members hold more than $1.2 trillion in assets, $1 trillion in deposits and nearly $750 billion in loans to consumers, small businesses and the agricultural community.

“At RELIABANK we’re dedicated to offering our customers the best banking experience we possibly can,” David W Johnson, CEO said. “By going local and banking with us, you’ll realize the vast benefits that come from working with a community bank. You’ll also feel good about keeping your money in the community where it will be put to work and used to better the lives of your friends and neighbors and the small business owners that serve in and around communities of Watertown, Estelline, Hayti, Hazel, Tea, Hartford and Humboldt.”

We invite you to see what a community bank like RELIABANK has to offer you and your family. Stop in or visit us online to learn more!

Happy Halloween!!!


The Independent Community Bankers of America®, the nation’s voice for more than 7,000 community banks of all sizes and charter types, is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education and high-quality products and services. For more information, visit www.icba.org.

What to Keep in Your Safe Deposit Box

If you think there isn't much to using a safe deposit box beyond putting keys in locks, you're in for a surprise. The safe deposit service may be tucked down in the basement or far corner of your bank, but in its own quiet way it is among the bank's most important offerings.

While millions of Americans rent a safe deposit box, few pay attention to questions such as who could or should have access to a safe deposit box (especially in an emergency) and how the contents of the box are protected. About the only time people ever consider these issues is when there's a problem, and then it may be too late to prevent a loss.

To help you decide whether to use a safe deposit box, and how to use one wisely, FDIC Consumer News has put together what should and shouldn't be kept in your box.

A safe deposit box is a convenient place to store important items that would be difficult or impossible to replace. The box also offers privacy (only you know what's inside) and security. Although many people like to keep valuables close by in a closet, safe or file cabinet at home or in the office, these places probably are not as resistant to fire, water or theft. Also, some insurance companies charge lower insurance premiums on valuables kept in a bank's box instead of at home.

What items should go into a safe deposit box?

Any personal items that would cause you to say, "If I lose this, I'm in deep trouble." Important papers to consider putting into your box: originals of your insurance policies; family records such as birth, marriage and death certificates; original deeds, titles, mortgages, leases and other contracts; stocks, bonds and certificates of deposit (CDs). Other valuables worthy of a spot in your safe deposit box include special jewels, medals, rare stamps and other collectibles, negatives for irreplaceable photos, and videos or pictures of your home's contents for insurance purposes (in case of theft or damage).

OK, what should NOT go in a box?

Anything you might need in an emergency, in case your bank is closed for the night, the weekend or a holiday. Possible examples: originals of a "power of attorney" (your written authorization for another person to transact business on your behalf), passports (in case of an emergency trip), medical-care directives if you become ill and incapacitated, and funeral or burial instructions you make. Consider giving the originals to your attorney, and making copies to go in your safe deposit box or to give a close friend or relative.

The safe deposit box is, in fact, the safest place you have — it’s free of risk from at-home fires and also from tampering.

Popmoney is Here!

Need to split the check for lunch, throw in for the office party, or send a cash birthday gift? Popmoney is a simple, convenient and secure way to send and receive money using your Reliabank accounts.

Popmoney is a person-to-person payments service offered by Reliabank allowing you to send secure electronic payment to anyone no matter where your recipient banks. You can access Popmoney directly from the security and convenience of Reliabank's online banking. Send money directly from any of your Reliabank accounts to anyone using his or her email address, mobile phone number or bank account information. Similarly, you can receive money from others to your Reliabank accounts.

Popmoney works in 4 easy steps:

1. Log In: to your Reliabank online banking. Then select "Bill Pay" from the services menu. Once in Bill Pay simply click  "Popmoney" on the menu

2. Send Money: provide the email address, mobile phone number or bank account information of the recipient. Then, just tell us from which of your Reliabank checking or savings accounts to withdraw the funds, how much to send, and when to send the payment.

3. Notify Recipient: if you sent the money using an email address or mobile phone number, the recipient will recieve a message via email or text message with instructions on how to deposit the payment. If you sent the payment to a recipient bank account, the money will be directly deposited into the recipient's account.

4. Deposit Payment: There are two ways to deposit a payment. If the recipient's bank offers Popmoney, the recipient can deposit the payment directly through their online bank service. If the recipient's bank does not offer Popmoney, the recipient can deposit the payment directly into his/her bank account by following the simple steps at www.Popmoney.com.

Plus you can easily include an Egreeting to your recipient for a Thank You, Birthday, Congratulations or any other occasion.

Each transaction costs just $.50 - the price of a stamp to mail a check to someone. Plus it arrives much faster in their account!

Keeping Track of Your Balances is a Must

Many people still struggle to keep track of their checking account balance. Thanks to online banking, mobile apps and text banking, we have even more ways to keep in touch with our money. Therefore, you may think, who needs to record every purchase when you can check your available funds using your phone, right? Wrong.

We still need to use the basics of the checks and balance system in order to stay away from costly (not to mention embarrassing) overdraft fees

1) Record your purchases & withdrawals (especially when using debit cards)

Keeping up on your checking account balance is recording how much you’ve spent, that is where your check register comes in handy. Glancing at your available balance on the Reliabank mobile app isn’t enough. Here’s one reason: checks don't come in in the order you write them. By looking at your balance and seeing that check number 2501 came in and your balance is $200 doesn't mean you still have $200 to spend, look to see if the other check numbers around it have come in also. Perhaps #2499 hasn't come in yet that your wrote for $75, therefore you really only have $125 left in your account. Also, many times people forget to write down their debit card purchases because oftentimes receipts get put in the wallet or purse never to be seen again. Make sure you record every debit card purchase.
2) Record deposits

Tracking your deposits is equally important because otherwise it’s impossible to keep an ongoing, accurate picture of your cash flow. It’s also important to know when deposits clear. Suppose you’re at the mall when you suddenly come across a shirt you've been wanting and it's on SALE! You deposited a check the day before, but you can’t remember when it will clear. Time to log into the Reliabank eMobile Banking app or contact Reliabank and make sure you can make the purchase. If the check hasn’t cleared, at least you’ve saved yourself some embarrassment at the checkout counter.

3) Calculate your balance

The final step is to calculate your balance by subtracting outstanding expenses – anything that hasn’t cleared yet – from your account balance. If the bank says you have $750 in checking but your rent check and credit card bill are still out there, your effective balance is actually lower. Consider using Online Bill Pay to schedule these types of payments so you know exactly when they’ll be taken out of your account.

Take Us With You Anytime, Anywhere!

First there was telebank, then online banking, then eMobile banking, and now we are happy to announce that we have a phone app to make it even easier to keep in touch with your finances - no matter where you may be!

This app is available when you download the Reliabank Touch Banking app for your iPhone, Android or BlackBerry. It takes all the great features from Online Banking and puts them into an easy-to-use tool that offers a high level of security to keep you safe.

Transfer money, check your account balances, pay bills and find Reliabank ATM locations all right at your fingertips.

It's easy! All you need to do is log in to your Reliabank online banking account, click on Services, and eMobile Banking.

• If you have not previously signed up for eMobile Banking you will need to follow the instructions on screen.
• If you are already signed up for eMobile Banking simply select Manage Devices and Change my Mobile Services and select the downloadable application.

You will receive a text message with a link to download the App and one to activate and launch the App. NOTE: The App is called Touch Banking.

Requirements: To use the Touch Banking downloadable application, your mobile device must have an operating system that supports application downloads and may require a data service plan. You download the Touch Banking application using the link sent by SMS text message during the enrollment process.

We highly encourage you to visit our online demo that offers step by step video instructions on how to load this app to your phone. View Demo Here

Reliabank Offers iHELP Student Loans

iHELP is an affordable student loan program sponsored and funded by local independent community banks such as Reliabank.

iHELP student loans are the easiest and most affordable way to cover your child's cost of education. It is designed for the "gap" between the cost of education and the amount you can borrow under the federal programs. The iHELP® program provides private student loans designed to supplement, but not replace scholarships, grants and other financial aid including Federal Student Loans currently offered on college campuses.

iHELP's online pre-approval process allows a student and family to quickly and easily determine if they will qualify for a private student loan.

• The pre-approval response is free and immediate
• The pre-approval can be used at any iHELP eligible school
• It's easy! 

Plus, on iHELP's pre-approval site the student will find a link to apply for one of their $1,000 College Challenge Scholarships.

Visit iHELPloan.com to learn more. Offer expires August 31.

Our VISA Goes Where You Go

Reliabank VISA® Card - A Great Value Right Here At Home

We focus on the needs of our customers and our community. That's why we provide you with the quality service you deserve and expect. So, carry a little bit of home with you, wherever you go.

 

What do you need from a credit card? Low rates? Travel benefits and other incentives?

 

Did you know Reliabank offers Visa® Credit Cards for personal use?
Our credit cards offer the following features:

• The perfect card for all of your purchasing needs.
• Our VISA® Platinum or ScoreCard VISA® gives you the ability to buy needed items now
• 0% APR introductory rate for the first six billing cycles after the account is opened
• Worldwide acceptance
• No Annual Fee
• Obtain Cash at over 700,000 ATM's worldwide
• $1,000,000 Travel Accident Insurance coverage
• Auto Rental Insurance

View your account online at http://www.mycardstatement.com/

 

Visa® ScoreCard earns you 1 point for every $1 in qualifying purchases. Visit http://www.scorecardrewards.com/ for your reward options.

Stop by any Reliabank location for more details or apply online. It's easy! Click here for application

 

 

NOTICE: Reliabank is not responsible for and has no control over the subject matter, content, information or graphics of websites linked to Reliabank.com.

 

Planning Ahead Can Help You Keep Your Money Safe

It's the kickoff of summer, and with many Americans planning to hit the road or the skies for their much-anticipated summer vacation, Reliabank and the Independent Community Bankers of America (ICBA) want consumers to have the information they need before they leave home to keep their money safe.


“Whether your summer vacation takes you to the other side of the globe or just to the nearest beach, it’s always important to protect your money while you travel,” said Jeff Gerhart, ICBA chairman and chairman of Bank of Newman Grove, Neb. “Relationship-focused community bankers can work one-on-one with their customers to prepare them for all kinds of emergencies, from a lost wallet to identity theft.”

Financial professionals agree that the safest and most convenient way to travel with your money is to take a small amount of cash with you. It’s also a good idea to carry a debit, credit or ATM card. These cards are convenient while traveling because they are easy to carry, easy to use and often offer the lowest fees and the best exchange rates. Reliabank's debit card and credit card are both free to customers. As a member of the MoneyPass network, our customers can use their debit cards to withdraw cash free of charge at MoneyPass ATM's nationwide.

However, travelers still need to plan ahead to be prepared. To help, Reliabank offers these tips to consumers about what they need to take care of before they take off:

• Let us know when and where you will be traveling to avoid account holds or transaction rejections when out-of-the-ordinary transactions are presented for processing or posted.

• If you're traveling overseas, keep in mind that ATMs in many countries only accept four-digit personal identification numbers (PINs) and some countries have keyboards with numbers only, while others do not acknowledge zeros. Ask us if you should create a new PIN for your account before you take your trip.

• Carry a back-up card that you keep in a separate place. Families or couples may get even greater back-up coverage if each person takes a different card.

• Make copies of all the cards you’ll be carrying. Be sure to copy the front and back of the card. Take a copy with you and give a copy to someone you trust back home. Be sure to also include the security code for the card and the customer service phone number.

• Set up transaction alerts for credit and debit cards. This will allow you to be informed much faster of any transactions that occur on your cards and shut down fraudulent activity.

• Bring a list of emergency phone numbers, but remember, 800 numbers can only be used in the United States and Canada.
• Many credit cards provide travel accident insurance and traveler’s assistance. Ask us what special services are available through your card.

• Check your balance before you leave. Know the limits on how much you can withdraw. Save all your receipts.

• Thoroughly check any ATMs that you use; fraudsters are increasingly altering the facades of ATMs in an effort to capture card data. Ensure the card reader does not look tampered with and pull on it to ensure it’s not a layover.

“Remember, in the event that something unfortunate does happen, community bankers are always just a phone call away, ready and able to help their customers,” said Gerhart.

For more information about what to do if you your card is lost or stolen or if you need additional help, visit http://usa.visa.com/personal/using_visa/travel_with_visa.html or http://www.mastercard.us/support/lost-card.html.

To learn more about ICBA, visit http://www.icba.org/. To find a community bank or download our free community bank locator mobile apps for your iPhone, Android or BlackBerry, visit http://www.banklocally.org/.

Wild Month at Reliabank

It has most definitely been a wild and crazy month here at Reliabank!

Poker Alice Band plays to a crowd during our 15th Anniversary party

Kids gathered around Reliabank's Duck Pond during Rodeo Days festivities

On June 14th we held our 15th Anniversary party in Watertown during the Thursday Night Light event. Our employees served up sirloin sandwiches to over 500 people and The Poker Alice Band played for everyone's entertainment. A beautiful evening was icing on the cake!

We then moved on to celebrate Rodeo Days in Estelline, Jamboree Days in Hartford, and Tea Pot Days in Tea this past weekend. Great turnouts at all these community events and we thank everyone that attended the parades and stopped by our booths to check us out.

Today we gear up for our annual Hot Dog Days in Hayti where our employees will be grilling out and serving up some fun! If you're in the area, come join us at the fire hall from 11am-1pm. Tomorrow we fire up the grill in Hazel from 11am-1pm. Stop by so we can say "Hello!"

Saturday tops off the busy month of June with our Super Eagles Kids Club Zoo Day. We'll see many of our little super savers enjoying pizza and touring the Bramble Park Zoo in Watertown. A great day for family!

And don't forget our summer SMART BANK SMART PHONE promotion where you could win one of seven smartphones! Click Here to Learn More!

Win With Reliabank!

Looking for a high interest checking account with no minimum balance? Then you will want to check out our Smart Bank Smart Phone summer promotion!

It's simple. Open an Ultimate Checking account between June 6 - August 15 and your name will automatically go in a drawing for one of seven SMARTPHONES! Click Here for details.

A free checking account with no minimum balance, no monthly service charge, and several other features to make your banking better - our Ultimate Checking offers you the highest interest rate around on checking plus FREE ATM/CheckCard (1), FREE ONLINE banking, FREE Bill Pay and eMobile Banking, FREE withdrawals at any MoneyPass® ATM, and convenient account access at thousands of ATMs.

Stop in at any Reliabank location today and open your new Ultimate Checking account for your chance to WIN!



(1) Fees may apply at non-Reliabank ATM's. Parent/guardian co-sign required for those under age. Promotion
offer good June 6-August 15, 2012. Smartphone prize given in form of $250 credit to phone store. No purchase necessary. Stop in at any Reliabank location for an entry form. See bank for more details.

What's Happening?

School is out, families are planning gatherings,
and here at Reliabank we are celebrating Summer!

June 1 - 99 Days of Summer with KXLG radio in Watertown. Reliabank is the $5,000 cash sponsor of this event. So put your sticker on your car, get ticketed, and you could be in the running for $$$ on September 6. 

June 8 - Kicking off our Smart Bank * Smart Phone promotion! Watch & listen for more details coming soon!

June 14 - Thursday Night Live, uptown Watertown. Join us from 6pm-9pm as we celebrate our 15th anniversary as YOUR community bank in Watertown! Poker Alice Band will be perfoming so bring a lawn chair and enjoy the evening.

June 15/16 - Estelline Rodeo Days, Tea Teapot Days, Hartford Jamboree Days. Reliabank will be out and about celebrating with our local towns!

June 21 - It's that time again! Join us at the Hayti Fire Hall from 11am-1pm for our annual HOT DOG DAY cookout. Enjoy grilled hot dogs, salad and beverages while visiting with friends

June 22 - It's that time again! Join us at the Hazel Community Center from 11am-1pm for our annual HOT DOG DAY cookout. Enjoy grilled hot dogs, potato salad and beverages while visiting with friends

June 23 - Kids Day at the Zoo in Watertown. All our little Super Eagles Club members are invited to join us for a pizza party and stroll through the Zoo. Contact Lisa at 873.2261 for more details or to sign up.

July 4 - Happy Independence Day! All our Reliabank locations will be closed in observance and so that our employees may enjoy the day with family and friends.

Your Wallet Contains a Wealth of Information

Consider this: Your wallet is stolen. You immediately call your bank and credit card company to report the problem, close old accounts and open new ones. You even remember to call the Social Security Administration to notify them that you had your Social Security card in your wallet. At the end of the day, you feel fairly confident that the incident is behind you.

But weeks later you receive past-due notices on bills for merchandise you never purchased, and a few months later your application for an auto loan gets rejected because someone has used your name and Social Security number to open new accounts and run up thousands of dollars in debt. The good news: Your actual liability for these unauthorized purchases is limited by law or industry standards. The bad news: It’s likely that you’ll spend many frustrating hours trying to clear your name and straighten out your credit history.

Here are safety tips from FDIC Consumer News that can greatly reduce the chances of becoming a victim.

Limit the amount of confidential information in your wallet. Only carry the identification, checks, credit cards or debit/ATM cards you really need. The rest, including bank account numbers, personal identification numbers (PINs), passwords, and most importantly, Social Security cards, are best kept elsewhere in a safe place. Likewise, don’t pre-print your Social Security number or driver’s license number on your checks, because either one could help a thief apply for a loan, credit card or bank account in your name.

Keep good backup information about your bank and credit card accounts, just in case your wallet is lost or stolen. You'll want account numbers and phone numbers that can be used to report your losses or request new cards. "Some people make copies of the front and back of all the cards or important notes in their wallet to help jog their memory," said FDIC Regional Ombudsman Janet Kincaid. Keep these in a safe place such as a safe deposit box.

Review your credit card bills and your checking account statements as soon as they arrive. Make sure that no fraudulent activity is taking place.

Periodically request your credit reports. Look for signs that someone may have obtained loans or tried to commit other fraud in your name. By federal law, you are entitled to one free copy of your credit report every 12 months from each of the three nationwide credit bureaus — Equifax, Experian and TransUnion. Go to www.AnnualCreditReport.com or call toll-free 1-877-322-8228 to order your free credit reports.

Experts often suggest that, to maximize your monitoring capability, you spread out your requests and receive a report from each of the three credit reporting agencies at separate times rather than all at once.

An addtional step to take is to have ID TheftSmart Protection. Reliabank offers this service free to primary Ultimate Checking holders, and also available to all other signers for $2/month per person. If your identity is ever stolen, ID TheftSmart Protection provides full-service restoration, which means experienced, licensed investigators do the bulk of the work on your behalf. And, since one, dedicated investigator is assigned to your case, you won't have to explain your situation over and over again, saving you much hassle, time and money. He or she will take care of the majority of paperwork and hours of legwork required to reclaim your identity to pre–theft status and regain your financial standing—including areas most people don't even think of as being affected by identity theft. Contact any Reliabank location for more details.

To learn more about avoiding identity theft, including steps you can take if your wallet has been lost or stolen, visit www.ftc.gov/idtheft. We also encourage you to visit our Online Education Center to learn more.

Higher Education, Lower Debt: Ways to Minimize the Borrowing Costs for College

The average annual cost of higher education has increased dramatically in the last decade. And with education debt continuing to rise along with the increase in costs, many people face a tough financial situation. FDIC Consumer News offers these tips to help students and their families avoid debt overload as they plan for — and pay for — college, graduate school or other education.

Start saving early to reduce the amount you may need to borrow. In particular, Section 529 college investment plans, which are mostly offered by individual state governments, are a helpful tool for building a savings fund. One type of 529 plan gives you the right to lock in future tuition at today’s prices. The other allows you to place funds in an investment or deposit account and receive tax benefits. Our Raymond James Financial Services Dept. can help answer any questions you may have on the 529 plan. Give them a call at 605-882-4280.

U.S. Savings Bonds are another way to save for the future and, for qualified taxpayers, to benefit from a tax exclusion if the money is used for education expenses. To learn about Savings Bonds, start at www.treasurydirect.gov/indiv/indiv.htm. For information about the tax exclusion, go to www.treasurydirect.gov/indiv/planning/plan_education.htm.

Find ways to cut costs. High school students who take advanced courses or pass special college-level exams can earn college credits before they set foot on campus. “It’s never too early or too late to start saving on future tuition expenses and reduce the amount you’ll need to borrow for college,” said Denise Waters, an FDIC Consumer Affairs Specialist.

Other ways to save include going to a nearby school and living at home; choosing a college regarded as both high-quality and low-cost; and attending a community college for a few semesters before transferring to a more expensive, four-year institution.

If you must take out a loan, understand the different options. Federal student loans usually have lower interest rates and more flexible repayment options than private loans from non-government lenders such as banks and credit unions. Under current law, all federal student loans are obtained through the Federal Direct Loan Program administered by the U.S. Department of Education. The easiest way to apply for a federal loan, as well as federal student aid and most state and college aid, is online at http://www.fafsa.gov/. And, to learn more about federal student loans, start at http://federalstudentaid.ed.gov/students.html.

iHELP student loans are the easiest and most affordable way to cover your cost of education. Designed for the "gap" between the cost of education and the amount you can borrow under the federal programs. The iHELP® program provides private student loans designed to supplement, but not replace scholarships, grants and other financial aid including Federal Student Loans currently offered on college campuses. Please find out about all your Federal Student Aid options. Then if you still have a college financing gap, the iHELP® student loan is a great low interest way to pay for all your remaining college costs.

iHELP™ loans are provided through the Independent Community Banks of America (ICBA) and are originated and serviced by Student Loan Finance Corporation (SLFC). Visit iHelp to learn more.

Private loans are available for expenses not covered by savings, financial aid or federal loans, but do your homework before borrowing. “Many private student loans have interest rates that may change periodically, which could increase your monthly payments,” said Heather St. Germain, an FDIC Consumer Affairs Specialist. “It also is difficult to find a private lender that provides repayment options as attractive as those offered by the federal government.”

“Some private loans can carry high interest rates that may be difficult to repay on the salary of the typical recent college graduate,” added Evelyn Manley, a Senior Consumer Affairs Specialist at the FDIC.

Choose the best repayment plan. For federal student loans, a monthly, fixed payment over a standard, 10-year term is the most cost-effective arrangement and minimizes the total amount of interest you’ll have to pay. However, there are alternatives, including repayment periods up to 25 years, graduated repayment plans that start low and increase every year or two, and monthly payments that increase or decrease based on your annual income (for certain loans). For guidance on whether income-based repayment may be right for you, visit http://studentaid.ed.gov/ibr.

Securities offered through RAYMOND JAMES FINANCIAL SERVICES, INC. Member FINRA / SIPC •NOT FDIC Insured •NOT GUARANTEED by the bank •Subject to risk and may lose value •Not a deposit •Not insured by any government agency •Raymond James is not affiliated with the financial institution Reliabank.

A Reminder - Internet Safety

Let's talk passwords. Chances are it has been a while since you've thought about changing your passwords to the various sites you visit online. We all know we should do it, yet most people don't. But changing passwords addresses only part of the problem: There's not much point in switching to new passwords if they're not good ones, or if you're using the same one for every account. A realistic concern is that, when a large website you use gets hacked, an opportunistic criminal could take the leaked information - your username, email, and password - and try it out on other sites.

So what should you do? The solution is simple: change your password, often. You shouldn't keep the same email password for more than three months, at the longest, and of course, you should be using strong passwords (upper- and lower-case letters, not using words from the dictionary, using special characters like &$^#$, etc).

 Here’s what you don’t want your password to be:

■A family member’s name

■The last 4 digits of your social security number

■Password- yes, really. According to PCWorld.com, it’s the second most popular password in the list. And using “passw0rd” and substituting the zero for the “o” is just as easy to guess.

■Your date of birth or the birthday of anyone in your immediate family

■123456

Here's what you do want your password to be:

If the password field says that you need to have 6 characters, make yours 8. The more characters, the less likely it is to be guessed.
■Don’t store your many logins and passwords as a Word document on your computer. If your computer is stolen, think of what a treasure trove of information that document becomes!

■Set an automatic calendar reminder to change your passwords every three months.

■Use a combination of letters, numbers, and symbols. For example, if your password is your favorite food (pizza) and your birthday (October 17), instead of it reading Pizza1017, change it to: p$zzAten17. A combination of capital letters combined with symbols, letters, and numbers is much harder to guess!

Keep in mind, no strategy is foolproof, but no strategy is foolish.

April is Community Banking Month

April is Community Banking Month and South Dakota’s community banks are taking this opportunity to express their appreciation to their customers for banking locally and to encourage others to consider banking with their local community bank.
Reliabank joins community bankers nationwide, during April, to celebrate Community banking Month. David W. Johnson, CEO of Reliabank states, “As a local independent community bank, we are the backbone of our smaller communities. Reliabank provides jobs to local residents, ag and industrial loans to help our local famers and small businesses, and funding to area schools. Our scholarship program has grown over the years to help many high school seniors achieve their college dreams.”

Small businesses are the economic engine that drive local economies and help them flourish by putting money directly back into the neighborhoods they serve and by employing local residents. Community banks are small businesses, themselves, and they are small business lenders – nearly 60% of small business loans are lent by community banks. Community banks only thrive when their customers and communities thrive. Taking care of their customers and looking out for their best interest is the way community banks conduct business each and every day.

Community banks are known for their local-decision making, doing what’s in the best interest of their customer and standing by their customers through good times and in bad. In celebration of April being community banking month, Reliabank would like to say “thank you” to community banking customers and encourage people to consider “banking locally” in addition to doing their shopping and dining in their local community.

Stop in to see what separates Reliabank, your hometown community bank, from other financial institutions. Reliabank is located in Tea, Hartford, Humboldt, Estelline, Hayti, Hazel, and Watertown.

Get on the Bus!

Join us on a fun filled day to Target Center where we'll watch the Mn Twins take on the Detroit Tigers.

Cost: $90/golden connection member
         $105/non-member

We will have pick ups in Sioux Falls, Brookings and Watertown

A full itinerary will be sent to all who sign up. Please get your seats reserved by April 27. Payment must be received at time of sign up.

                                                      Spring is coming!