Fall 2013 FDIC Consumer News
Coming Soon: New Mortgage Rules Borrowers Should Know About Aimed at preventing payment problems and home foreclosures
Attention mortgage shoppers: Important new rules are taking effect soon that will protect consumers from risky mortgages and help borrowers better manage a home loan… Read more.
Protect Yourself From Mortgage Scams
Let’s say you are a homeowner in financial distress and at risk of losing your home. You may also have heard that the government is requiring mortgage servicers to mail offers of assistance to borrowers who are behind in their payments. Then, an official-looking letter arrives “guaranteeing” to save your home by accessing new kinds of “federal” loans… Read more.
For More About Mortgages
- The FDIC’s website has tips for picking a mortgage, FDIC Consumer News articles, and other information about home loans. Start at www.fdic.gov/consumers/loans.
- The Consumer Financial Protection Bureau answers commonly asked questions at www.consumerfinance.gov/askcfpb.
- Mymoney.gov has additional tips on home ownership and mortgages. Start at www.mymoney.gov.
You’ve Been Turned Down for a Checking or Savings Account. Now What?
You go to a financial institution to open a checking or savings account and a representative says you aren’t eligible. Why? Because a report shows that an institution previously closed your checking account, perhaps because of unpaid overdrafts… Read more.
Getting Social With Your Bank: Some tips for using financial institutions’ social networking sites
Many people connect with friends, meet new people and interact with businesses on “social media” sites such as Facebook, Google+ and Twitter. Banks are also using social media to advertise their products and services, obtain feedback from consumers, and, in some cases, provide a gateway for customers to access their accounts… Read more.
Community Bank And Yogurt Shop Give Back To Local Food Bank
In early September of this year, the employees of Liberty Bank decided to create a year round fundraiser to support North Kitsap Fishline. The idea was not your average collection of canned foods, but more of a focus on certain needs of Fishline and collecting something different every month. So far in September, the employees collected 54 jars of peanut butter and jelly and in October they’ve collected over 90 cans of soup and chili.
It is so exciting to see an idea take shape and then know as a group we are making a positive impact in our community
, stated Jennifer Carrier, AVP & Branch Manager of Liberty Bank.
This is something that everyone in the bank has supported and agreed to do all year round.
The banks idea was simple; request a certain item which will be easily remembered when shopping and that can be added to a grocery list multiple times throughout the month, and so far it seems to be working.
After seeing the banks display’s of canned soups, YO!G’s Frozen Yogurt of Poulsbo’s owner Jack George contacted Liberty Bank to team up in support of North Kitsap’s Fishline. So on Monday, November 4th, everyone is encouraged to bring canned fruits & vegetables to YO!G’s Frozen Yogurt of Poulsbo, and they will receive a $1.00 off of their purchase price. “This is a win, win for everyone”, stated Jennifer Carrier.
YO!G’s is located next to Game Stop and Payless Shoes Source and across from Walmart.
Liberty Bank Reports A Profitable 3rd Quarter
Liberty Bank reports a profitable 3rd quarter ending September 30th 2013.
Loans increased by 5.4% for the first 9 months of 2013. With loan totals of $ 44.0 million at September 30, 2013, Liberty Bank continues its commitment of providing loans to local businesses and individuals.
Liberty Bank is #1 in annual deposit growth, in the Poulsbo deposit market*. The bank which opened in 2009, reports total deposits of $ 54.1 million at September 30, 2013. Non-interest bearing checking deposits increased by 54.5% for the first 9 months of 2013. Business checking deposits increased by 67.5% for the first 9 months of 2013.
Capital ratios continue to be strong for Liberty Bank. The total risk-based capital ratio is 17.9% at September 30, 2013.
President & CEO Rick Darrow states
We are honored to serve our local family-owned and closely held businesses in Kitsap County. Our clients and neighbors recognize the value of having a community partner such as Liberty Bank. We are privileged with being the locally owned community bank in Kitsap County.
Give Soup!
October is canned soup and chili month!
Employees of Liberty Bank are donating in support of the NK Fishline food bank. Everyone is welcome to participate!
For more info: 360-779-4567.
Liberty Bank Collects Food To Support North Kitsap Fishline
In September, Liberty Bank employees collected 54 jars of Peanut Butter and Jelly in support of the NK Fishline food bank. To learn how you can help support the local food bank, call us at 360-779-4567 or stop by the office!
Congratulations to our very own Jennifer Carrier, one of this year’s winners of the 40 Under Forty Program!
What is the 40 Under Forty Program? Every year the Kitsap Peninsula Business Journal presents the opportunity to recognize outstanding young business leaders on the Kitsap Peninsula.
40 individuals will be recognized for the contributions they have made within their fields. These may range from starting a company to launching a new product or doing their job exceedingly well. They have spotted opportunities, sometimes problems and acted vigorously upon them — all before their fortieth birthdays.
Summer 2013 FDIC Consumer News
For Seniors: 15 Quick Tips for Protecting Your Finances
As many consumers get older, they often face issues such as how to maintain their lifestyle and pay for medical expenses on a fixed income for years into the future. Here are banking and other money-management tips for seniors to consider for their retirement years… Read more.
How Older Adults Can Steer Clear of Scam Artists
Anyone can be a victim of financial fraud, but older adults are particularly at risk. Among the reasons: Scam artists and thieves know that many senior citizens have accumulated money and other assets throughout the years. Those who commit elder fraud range from loved ones — family members, friends or caregivers — to complete strangers. Here are practical tips on how to protect yourself or someone else:… Read more.
Borrowing From Your Home in Retirement? Carefully Research the Benefits and Risks
For most homeowners, particularly retired Americans who have paid off or nearly paid off their mortgage, their house is a major part of their financial picture. Unfortunately, for retired homeowners who may have limited sources of income, the equity in their house may seem to be one of their only potential sources of additional money for everyday living expenses and healthcare… Read more.
Tips for Seniors Wanting to Help Relatives
Be on guard against phone calls from con artists who target seniors. A common scam involves an imposter pretending to be a relative in trouble. (“My wallet was stolen” or “I’m in jail.”) These callers do enough homework to mention the name of the relative or other people the senior citizen knows. And by “crying,” it is difficult to recognize the voice… Read more.
Key Facts About Your FDIC Insurance
Deposit insurance is especially important for older Americans who have worked hard over the years to accumulate savings. Here are some facts to remember.
Every depositor is protected for up to at least $250,000 if an FDIC-insured bank fails. The basic FDIC insurance coverage amount is $250,000 for each depositor at a bank; however, coverage may be higher based on how accounts are set up. For instance, at one bank, your combined deposits in single accounts (for one owner) are covered up to $250,000, and your share of any joint accounts (for two or more people) is separately protected up to an additional $250,000.
FDIC insurance protects only deposits. Insured deposits include all traditional bank accounts such as checking, savings and certificate of deposit (CD) accounts. While some non-deposit investment products — such as stocks, bonds, mutual funds, annuities (see For Seniors: 15 Quick Tips for Protecting Your Finances) and municipal securities — typically offer potentially greater returns than deposits, they are not FDIC-insured, even if they were sold through an insured bank. You may risk losing some or all of your investment.
The FDIC can answer all of your questions about deposit insurance coverage. For deposit insurance resources and more information about different ownership categories and qualifying for more than $250,000 in coverage, see For More Help or Information for Seniors and Families.
Liberty Bank Reports Profits, Strong Loan Growth
Liberty Bank reported a profitable third quarter ending Sept. 30.
We are extremely pleased with our earnings and honored by the positive response we have received from our local community,
President and CEO Rick Darrow said in a news release. Read more.
Liberty Bank Is One Of Safest In U.S.
Kitsap County’s newest community bank has made a national list for being one of the safest banks in the U.S. Poulsbo-based Liberty Bank, founded in 2009, is one of 359 banks in the country and one of three in Washington state least likely to fail, according to an article published by MSN Money. More than 400 banks have failed since 2008 — but Liberty Bank has actually grown. Read more.
The Best Small Business Banks In Seattle
A number of banks have been recognized as the best small business lenders in the country by BankingGrades, a website that provides grades for banks on their commitment to small business lending. Read more.