Each quarter we send out a newsletter to our customers, packed with great information. Here are the highlights from our latest issue, and a few previous editions. Enjoy!
Winter 2015 Edition:
- Your Financial New Year Resolutions
- Buying local can make a difference in our local economy
- Keeping your Online Banking accounts active
Do You Have Financial Will Power For the New Year?
Tips To Give Your Resolution a Boost
Self-improvement is a shared American value. According to some estimates, more than 40 percent of Americans make New Year’s resolutions. These can range from ever popular weight loss, to spending more time with loved ones, to another popular one: reducing debt and saving more money. Although we all have good intentions, University of Scranton research suggests only eight percent of us keep our resolutions!
The implied questions seem obvious: Why do so many of us fail at New Year’s goal-setting, and what are the secrets of those of us who succeed? To help understand the challenge, here are some tips to help you attain your New Year’s financial resolutions.
Keep it simple!
Many people use this resolution opportunity to make large bucket lists or attempt extreme makeovers, personal or professional. That’s a fine aspiration, but the reality is people have so many other competing priorities that extreme or complicated resolutions will inevitably lead to failure. It is better to keep your resolution list short and set attainable goals.
If you choose to set multiple goals, set a timetable that begins each goal at a different time during the year.
Learn how much you really spend. Writing a list of what you spend on basic categories such as groceries, utilities, entertainment, etc. is a step in the right direction. Keeping track of the little things can help keep the large goals in perspective, and it becomes easier to see what can be cut to reach those goals.
Make it Tangible.
Setting ambitious resolutions can be fun and inspiring, but the difficulty in achieving them can mean elation quickly giving way to frustration. Goals must have rational, achievable metrics. Being specific counts.
Prepare For the Future
Setting a goal to save for longer-term, yet anticipated expenses is a step in the right direction. As we all know, unexpected expenses creep up from time to time. But if you know you will have back-to-school expenses or need money for a vacation, start to save and prepare for those expenses now!
Make it Obvious.
Experts recommend charting goals. No single practical strategy works for everyone. What might work best for you? Some may find making a clear to-do list can be helpful. Others may choose a personal diary as helpful. Sharing your goals with friends and family is also a great tactic since it builds accountability.
Believe you can do it . . . No matter what!
Simply by setting a goal you significantly increase your chances of achieving that goal.
More often than not people who fail to keep their resolutions blame their own lack of willpower. Some believe that if they had more self-determination, they could overcome any hurdles and achieved their goals. Essentially, you have as much willpower as you think you have. If you also have a plan that works for you, your journey to meet your goal will have a happy ending.
The local ripple effect
Local buying means supporting local jobs. Chain stores may boast of hiring local workers in the hundreds, but studies show that they displace as many jobs as they create. Local stores, although they may hire fewer people, create local stability within their home community. Beyond hiring people for the retail sector, local businesses certainly hire local services. When chain stores expand, they usually do so with minimal use of local goods and services.
You CAN get it here!
A single local shop may carry a smaller selection than a big chain, but many local independent retailers together in one district provide local shoppers great diversity. When independent stores serve local tastes with each owner’s preferred product line, the result is demand for a wide variety of products, allowing small stores to customize their retail offerings to local demand.
The numbers tell the story
Spending $100.00 at an independent business is equivalent to $68.00 in local economic activity. Whereas, spending $100.00 at a big box retailer is equivalent to only $48.00 in local economic activity. Money spent at a local business generates three and a half times more wealth for the local economy compared to money spent at a chain-owned business.
Small businesses are the backbone of our community. Supporting them improves the lives of all of us who work and live in the Chippewa Valley.
Since eStatements have been used effectively in the banking industry for many years, the number of customers nationwide using eStatements continues to grow. With it we see a growing interest in the Chippewa Valley for receiving these electronic statements.
The four most attractive features of eStatements are:
· Available on the same date as your paper statements
· Conveniently delivered via your email
· Environmentally responsible
Log on your online banking account to sign up today. It’s simple! Even if you do not have online banking, you can still sign up to receive eStatements by visiting briefly with one our New Account Representatives.
We encourage you to Go Green with Charter Bank online banking and eStatements for all your current and future statements!
As of January 15, 2015, any new account opened at Charter Bank will automatically receive eStatements. If you would like to continue to receive a paper statement, there will be a per statement charge of two dollars per statement for consumers and five dollars per statement for business customers. If you already have had a Charter Bank account prior to January 15, 2015 and have been receiving paper statements, you will not be charged the new per-statement fee on those account statements.
Online Banking is a convenient and fast way to view balances, make transfers and much more. But did you know we have security measures in place to reduce the potential of fraud on online banking accounts that are not used for a period of time? Here are details:
If you do not log in to your online account for 90 days
· Your account will be marked as “dormant”.
· To prevent this, log into your account each month to view your information. Even if you do not make a transfer or use a feature in Online Banking, logging on to the system will keep your account active.
· If your account is dormant, call us at the bank, and speak with a Customer Service Representative to have your account reset.
If you do not log in to your online account for six months, it will be closed.
· To prevent this, log in to your account each month (or even every other month) to view your information. Even if you do not make a transfer or use a feature in Online Banking, logging on to the system will keep your account active.
· If your online account is closed, please call the bank to speak with a Customer Service Representative to discuss the next steps to establishing your online banking account again.
To help the process if you encounter a dormant or closed online banking account, please ensure we have your current email address on file at the bank. Having this information at the bank will help you sign up for Online Banking directly on our website.
By keeping your online banking account active you can retain your username and password and continue to receive eStatements without interruption.