Tuesday, January 17, 2017

Wasting Less with E-Statements

Is one of your New Year's Resolutions to help out our environment this year? To stop wasting so much and "reduce, reuse, recycle"?

Start by switching to E-Statements. Right now, we use over 37,000 sheets of paper each month (that doesn't even include envelopes) just for printing statements. Sometimes we wonder, how many people even open them and use them? We know there are many customers who keep up with their account online, so they don't even bother looking at the paper statements.

If that sounds like you, here's an easy way to help our beautiful earth!

Just log into your online banking, and click the drop-down next to 'Welcome'. Select 'All Services & Settings'.

Now, select 'View Statements'. This should bring you to the following screen, where you can view your monthly statements, checks, and Opt In to receive E-Statements vs. paper. To Opt In, simply click 'Electronic Only Statement Delivery' and follow the on-screen prompts.

Switching to E-Statements can be more convenient if you're already using online banking to watch your accounts. You don't have to wait for the mail to watch what's coming in and out of your account. Plus, you are helping us go green, one sheet of paper at a time.

Wednesday, January 4, 2017

Using Automatic Transfers to Build Your Savings

So, is one of your New Year's Resolutions to save more this year?  Many experts recommend having an emergency fund with enough to cover 3-6 months.  It's never to young to start saving towards retirement. Or, maybe you want to save up for a vacation or down payment on a house.

Start with a Goal. 

How much extra do you want to have saved by the end of 2017? Next, determine how many pay periods you will have in 2017. If you're paid each week, you'll have 52. If ever other week,  26. You get the idea. Divide the amount you want to save by your number of pay periods.

Here's an example: Susie wants to save $5000 extra this year towards retirement. She's paid on the 15th of each month. So, her automatic transfer should be $417 on the 16th.

Is your amount realistic?

Log into your online banking  and set up an automatic transfer right now! That way, each pay period a part of your check will go into savings and you won't even have to think about it. Have a savings account set up just for your goal.

If the amount isn't realistic, you'll have to dig a little deeper. Set up the automatic transfer for as much as you can afford, then come up with a list of ways to earn extra income. For example, maybe in January you could shovel a few sidewalks. In February, offer babysitting over Valentine's Day. March, go through your things and try selling online. In April, sell the remaining stuff at a garage sale. And so on. Have a plan for the WHOLE YEAR so that you don't just phase out of it. Everything extra you earn goes into the savings account.

If you get stuck and can't think of enough ways to earn extra money, try a month of less expenses. For example, June could be no eating out, August no new clothes, October no paid entertainment.  (put the extra money into your savings account)

Stick with it!

Whatever your savings goal, the most important thing is to stick with it! Automatic Transfers can help you do that.

For help setting up transfers with online banking, watch the second video on this page. Or, just call us: 800-280-1074.