2nd Quarter 2018
Inside This Issue:
- New Additions to Our Team
- MobiMoney: It's Already Working
- Personal Finance 101: Get Organized
- If It Sounds Too Good to be True
- New ATM Coming to Spring Green
Over the course of the last year we’ve added some new faces to our team. These new employees enable us to be even more flexible as an organization and are helping us to deliver a customer-focused banking experience that starts with great customer service. We are thrilled to have them on our team!
Megan Hooker (Spring Green)
Megan joined us last summer to help round out our call center group. Her experience and overall approach to customer service has made her a wonderful addition. If you call the bank with a question or are looking for some help, there is a good chance that she’s on the other end of the phone. Megan and her fiancé, David Jones, make their home in Arena with their dog, Tilli.
Nicole Feiner (Plain & Spring Green)
Nicole joined us late last year as a customer service representative, splitting time between our Plain and Spring Green locations. She has worked in the Plain community for many years prior to joining us at the bank. Nicole and her daughter, Cecelia, reside in Plain along with their cat, Carrie.
It’s not all that unusual today to turn on the news and see a top story detailing the latest scam to hit consumers. This past tax season you’ve no doubt heard all about the various IRS-related scams to watch out for. However, as you know, fraud is not a new concept. It’s been around for ages, evolving with the times. Technology, while often the scapegoat for fraud, is also being used to combat these issues. It’s enabling faster communication and fraud detection.
MobiMoney, our debit card management tool which was released in February has already stymied one fraud attempt. A customer, using the MobiMoney app, was alerted, in real-time, to a transaction being charged to her debit card from a hotel in California. The charge was quickly identified by the customer as a fraud attempt. Through the app, she was able to turn her card off, thereby stopping the transaction from going through. She gave us a call and we were able to cancel her debit card and have a new one sent to her immediately. Thanks to MobiMoney she was able to avoid any hassle and received her new card without skipping a beat.
The consensus among economists is that there is room for improvement when it comes to Americans and our personal financial habits. Even the most fiscally sound individual out there can use a helpful reminder from time to time. There are numerous actions that you can take to get yourself on the right financial path, but a great first step is simply getting organized.
As the saying goes, “It’s hard to see the forest for the trees.” In much the same way, you can work toward saving each and every day, cutting back here and there, only to get to the end of the month to see that you’re no further ahead. Taking a step back and looking at your whole financial picture can help you locate the leaks in your monthly budget and enable you to take measures to patch them up.
Money Management, our free personal financial management tool, can help you get and stay organized. After a little work up front, Money Management’s smart technology does the heavy lifting. It can organize your spending into categories so that you know where every penny is being spent. Put a dollar amount on those random lunches during the week and see what they actually add up to by the end of the month. Money Management will even take your normal spending habits into consideration and build a budget for you based on those historical behaviors. From there, your budget can be easily adjusted to fit your financial goals. Money Management can also help keep you on track by sending you real-time alerts via text or email if you’ve exceeded or are projected to exceed your budget for the month. Sometimes all it takes is a reminder.
If you are working on paying down your debt, Money Management can help you organize and prioritize your debt payments by showing you which debt sources have the highest interest rate and are costing you the most. Put together a payment plan that enables you to pay off your most costly
Simply knowing where you stand financially can enable you to make smarter financial decisions. To put Money Management to work and to get your finances organized, log in to your online banking account or look for Money Management in our mobile app.
The old saying goes, “If it sounds too good to be true it probably is.” We’ve all heard that adage at one time or another in our lives. It’s generally applied to fraudsters and their efforts to run scams on unsuspecting individuals. Those “too good to be true” situations are fairly easy to detect. However, scam artists continue to get more and more sophisticated. In some instances, they’ve even posed as legitimate companies claiming that they can offer you needed computer services such as virus and malware protection.
We recently had a customer who fell victim to such a scam when he was led to believe that he was signing up for a computer protection service. He paid an upfront fee and was then billed on a monthly basis for the service. He gave the faux computer company remote access to his computer so that they could install what he was told was a virus protection software, which later turned out to be spyware. After a few months, the customer was contacted again and informed that the business was closing down and that he would be receiving a refund on a pro-rated basis for the remainder of that month’s service.
The scammers followed up with him again shortly thereafter to tell him that they had sent the refund to his account, but had made a mistake and sent too much. They were requesting that he send them back a check in the amount that they had overpaid. They even went as far as to take a screenshot of his online banking account and manipulated it to show a credit in the amount that they claimed to have overpaid.
This customer, noticing multiple red flags, contacted us. We were able to verify that no funds were actually credited to his account and that he should not send any more money to this phony company. As always, trust your gut feeling when it comes to situations like this. If something feels off don’t hesitate to ask a friend for a second opinion or do a little research on the “company” in question.
When we as a bank search for new and innovative products, services, and equipment, there are two key factors that we look for:
- Does it make banking more convenient for our customers?
- Does it improve the security of our customers and their data?
This summer we are installing a new ATM at our Spring Green location that meets both of those criteria. The new ATM will be able to accept deposits, 24 hours per day, 7 days per week, and it’s specifically engineered to deter fraud through the use of card skimmers. We will have more information on the new ATM as the installation date nears.