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Laddering is one fundamental strategy to protect your assets and maximize returns in a rising inflationary market. Laddering involves buying securities, in this case – bank certificate of deposits that mature at varying intervals. With this strategy your CDs with short terms will have a slightly lower rate of return than the longer
Bank savings rates and lending rates moved in opposite directions over the past week. Short term bank savings rates were mostly held in check while longer term bank savings rates tumbled. Bank lending rates were higher on average while U.S. Treasury rates followed the bank savings rates, holding steady on the short end
A check you write is generally processed as just that, a check. In that case, check laws and regulations govern your rights. Some merchants, however, may use your check as a source of information to create an electronic fund transfer. When this happens, you must receive notice that your check may be
National certificate of deposit rates once again moved lower for the week ending July 16, 2010. According to the most recent survey of bank CD rates performed by Selectcdrates.com, CD interest rates were lower for three of the five CD maturities measured and remained unchanged for the remaining two terms.
The average of the top
A payment that has been made but not credited to the appropriate account.
Summaries that a mutual fund sends to its shareholders that discuss the fund’s performance over a certain period and identify the securities in the fund’s portfolio on a specific date.
It is a convenient place to store important items that would be difficult or impossible to replace. The safe deposit box also offers privacy, only you know what is inside, and security. Although many people like to keep valuables close by in a closet, safe or file cabinet at home or in the
Inflation is the rise in prices of goods and services which overtime will erode the purchasing power of money. With inflation, a dollar buys less and less over time. Historically, inflation has a significant and extremely unpredictable influence on interest rate levels. If prices increase, more money will be needed to buy
Universal Bank is a California bank headquartered in West Covina, California. The bank offers personal and commercial banking services that include a full range of financial services such as real estate investment loans, home loans, small business loans, money market accounts, certificates of deposits and other investment depository accounts.
Universal Bank was founded in 1954. Universal
Bank of Smithtown is a 98 year old community bank headquartered in Hauppauge, New York. The bank has 15 bank branches located along the north shore of Long Island. It is a full service commercial bank focused upon serving small business customers and consumers. The bank also offers insurance, trust and investment services. The bank
Mutual funds make saving and investing simple, accessible, and affordable. The advantages of mutual funds include professional management, diversification, variety, liquidity, affordability, convenience, ease of recordkeeping and strict government regulation, full disclosure and accountability.
There are three basic types of mutual funds, stock or equity funds, bond funds, and money market funds. These categories and their
Check 21 is the informal name for an act created by Congress in 2003 to help modernize the check processing system with the use of digital imaging. Many banks now clear checks with just digital images of the checks instead of the checks themselves. These reduces check processing costs for financial institutions and
When it comes to investing in mutual funds and money market mutual funds, investors have literally thousands of choices. Prior to an investor making a choice on an individual money market fund, an evaluation on whether the investment strategy and risks of the fund are a good fit should be concluded first. The first step
On Friday evening, February 6, 2009 the FDIC announced the closure of three more banks: FirstBank Financial Services of McDonough, GA; Alliance Bank of Culver City, CA and County Bank of Merced, CA. These bank failures make the seventh, eighth and ninth failure this year of a federally insured bank. 2008 was expected to be
Try to avoid the ancillary services provided by your bank that may be cheaper to get elsewhere. For instance, you may want to avoid getting your checks for your checking account through your bank. Banks know that it is convenient for you to order your checks through them when signing up for your new checking
Global financial market uncertainty has been the key force holding interest rates low as 2015 came to close and uncertainty continues to dominate the interest rate market as 2016 chugs along. Even an optimistic view by the Federal Reserve and the subsequent fed funds rate hike in December of 2015 has failed to push most
The collection of funds on an account which a bank charged off earlier.
The equity markets and interest rate markets have apparently absorbed recent world events and some level of normality has returned. Normal activity at this time is a rising stock market and mildly rising interest rates.
More good news for the economy was released last week with GDP revised upwards to 3.1% for the 4th quarter
Centric Bank is headquartered in south central Pennsylvania, offers business and personal banking services supported by high-touch expertise, mobile banking and high-tech Internet banking features. There is a wonderful quote by the president of the bank posted on their web site that states, “A community bank’s foundation is built around people, not protocol. We are
A trust created through specific instructions in a person’s Will.