Phishing is a type of online scam designed to get valuable personal data from you – like your Social Security number, credit card numbers, passwords, account data and other personal identifying information. Every day, scammers send out millions of fraudulent e-mails that claim to come from Web sites you likely trust, like a bank or credit card company, and then request your personal information. They then steal your personal information, leaving you the victim of a phishing scam. Watch out for these phrases that help identify fraudulent e-mails: “Verify your account.” - Any legitimate business will not ask you to send passwords, login names, Social Security numbers or any other personal information via e-mail. “If you don’t respond within 48 hours, your account will be closed.” - They are attempting to create a sense of urgency, so you feel like you don’t have time to verify their information through the proper channels. “Dear Valued Customer.” - Phishing messages are generally sent out as mass e-mails and aren’t personalized “Click the link below to gain access to your account.” - The Web site address looks real, but if you hold your cursor over it, you’ll see a new Web site address pop up that looks nothing like the original. This is the “real” Web site you are going to. Protect yourself. The FTC recommends the following tips: Do not hit “reply” Contact the company or agency cited in the e-mail directly by telephone or visit their Web site. Be cautious about e-mailing your personal information A padlock icon at the bottom of the browser window or “https” in the Web site address means your information should be secure. Review statements ASAP Review your credit card and account statements for invalid charges. If the statement is noticeably late, call your credit card company or MountainCommunity to confirm billing address and account balances. Report “phishy” e-mails to the FTC Forward suspicious e-mails touce@ftc.gov. If you believe you are a victim of an e-mail scam, file a complaint with the FTC atwww.ftc.gov/idtheftand click on the “File a Complaint” button at the top. If you ever suspect any type of suspicious activity, report it to the proper authorities immediately. Contact the actual bank, company or government agency to confirm whether the e-mail or Web site is legitimate. ABOUT CENTURY BANK AND TRUST: Century Bank and Trust was founded in 1890,as an independent community bank. Over 120 years later, Century Bank and Trust continues to provide a comprehensive range of corporate, trust and retail products and services throughBranch, St. Joseph and Hillsdale counties. To learn more about Century Bank and Trust visitCenturyBankandTrust.comor call Toll Free (866) 680-2265. ...read more
By Century Bank and Trust July 25, 2011
With interest rates at historic lows, you may be wondering if this is the time to refinance your home loan. While it’s hard to say “no” to super low rates, refinancing may not always be in your best interest. Here are some things to consider when deciding whether or not to refinance: ·How low is the rate?When you factor in closing costs and fees, a fractional rate reduction may not save you any money. Your mortgage lender can crunch the numbers and help you determine if refinancing makes sense for you based on today’s rates and the rate you’re currently paying. ·How long do you have left on your current loan?If you are in the “home stretch” and only have a few years left on your mortgage, you probably won’t want to refinance to another 30-year loan. ·Are you planning to sell?If your plans include selling your home in a year or less, refinancing probably doesn’t make much sense. Typically, it pays to refinance only if you will be in the home long enough for the amount you save in interest to cover the cost of refinancing. ·What will it cost to refinance?If you’re hoping to ease your financial obligations by refinancing, you should consider the associated costs. Appraisal fees, title fees, underwriting fees, application fees, pre-paid escrow costs and other costs need to be paid by you at closing. Refinancing might not make sense if these fees would further stress your finances. With the right combination of rates and terms, refinancing could save you big money over the life of your loan. Contact Century Bank and Trust to help you determine if refinancing is right for you. ABOUT CENTURY BANK AND TRUST: Century Bank and Trust was founded in 1890,as an independent community bank. Over 120 years later, Century Bank and Trust continues to provide a comprehensive range of corporate, trust and retail products and services throughBranch, St. Joseph and Hillsdale counties. To learn more about Century Bank and Trust visitCenturyBankandTrust.comor call Toll Free (866) 680-2265. Equal Housing Lender Member FDIC ...read more
By Century Bank and Trust July 25, 2011
When the economy tanked in the early 2000s most people began to worry about the state of their bank's health. At the present time, however, banks are beginning to stabilize and hire more workers as they iron out the remaining wrinkles in their business. Those interested in banking should have a wide r... ...read more
Banks and credit unions have been in the news a lot lately for many reasons. This has led many people to wonder if there are any difference between a bank and a credit union and have started to compare banks with credit unions. The two has similarities, but then they also have many differences as well... ...read more