Blog: OUR two cents

We are pleased to announce the promotion of John Kakuk to Vice President - Senior Loan Officer, highlighting his extensive banking experience, trusted leadership, and dedication to serving both customers and the community.

Danielle Moon has earned the Certified Trust and Fiduciary Advisor (CTFA) designation from the American Bankers Association. Her dedication and expertise have also earned her a promotion to Trust Officer.

Conventional wisdom says that what goes up must come down. But even if you view market volatility as a normal occurrence, it can be tough to handle when your money is at stake. Though there's no foolproof way to handle the ups and downs of the stock market, the following coping strategies may help.

Are you leaving your job and considering whether to take a distribution from your 401(k), 403(b), or governmental 457(b) plan? if so, make sure you've considered all your options.

Birthdays may seem less important as you grow older. They may not offer the impact of watershed moments such as getting a driver's license at 16 and voting at 18, but beginning at age 50, there are several key birthdays that can affect your tax situation, health-care eligibility, and retirement benefits.

Terms like phishing and skimming aren’t only common in the ice shanty, they are also examples of cleaver methods scammers use to steal your personal information or your money. Understand these basics so you don’t end up left in the cold.

If you apply for a loan, your inbox, answering machine, and mailbox may fill up quickly with competing offers from other loan companies. It’s not The Stephenson National Bank & Trust that is selling or sharing your information. But there is a way you can stop the offers.

When you start asking the right questions and running the numbers you can more accurately figure out what house (or at least what home price) fits you best. But be forewarned – it could also lead you to question other things you’ve taken for granted, like what in the world did Kevin McCallister’s parents do in Home Alone to afford that house in Chicago? We may never get an answer to that last question, but let’s take a stab at the four big questions to answer before you buy a home.

Deciding when to retire may not be one decision but a series of decisions and calculations. For example, you'll need to estimate not only your anticipated expenses but also what sources of retirement income you'll have and how long you'll need your retirement savings to last. You'll need to take into account your life expectancy and health as well as when you want to start receiving Social Security or pension benefits, and when you'll start to tap your retirement savings. Each of these factors may affect the others as part of an overall retirement income plan.

The digital age has not eliminated check fraud, and the trend of check washing is resurging. Be aware and take steps to protect yourself with these important tips!

Every day, thousands of people fall victim to fraudulent emails, texts, and calls from scammers pretending to be their bank, government agencies, or other entities you would normally trust. The Federal Trade Commission’s report on fraud estimates that American consumers lost $5.8 billion to phishing scams and other fraud in 2021. So, the question becomes: how can you protect yourself?

There is no easy answer to this question. Both allow certain low and middle-income taxpayers to claim a partial tax credit for amounts contributed. But important differences exist between these two types of IRAs. In fact, the Roth IRA is in some ways the opposite of the traditional IRA.

The savings account is such a simple tool that we often forget it’s value. It cushions the blow during emergencies, provides security when tomorrow is uncertain, and holds those precious, hard-earned dollars while you work towards a big purchase. Building up that savings nest egg is the tricky part. Let’s look at 3 ways you can put money away while barely noticing it’s gone.

Despite the convenience of Debit Cards, there is a risk of fraud or theft. In fact, it’s just as important to protect your Debit Card as you would protect cash, credit cards, and checks. To avoid becoming a victim of Debit Card fraud, consider these tips:

The internet is a powerful resource that we depend on everyday for shopping, banking, and connecting with friends. Yet, for all its advantages, it can also make you vulnerable to fraud, identity theft, and other scams. 

An important step to finding a home, whether you’re renting or buying, is ensuring that you have a good credit history. The Stephenson National Bank & Trust suggests the following tips to improve your credit score.

Entrepreneurial ventures come well equipped with missteps, mishaps, and mistakes. No matter how prevalent your business is, you are bound to run into problems at some point.

Learn about debit card limits, the difference between PIN and Signature Based transactions and how to avoid overdrawing your account while using your ATM.

A quick synopsis to help small business owners as you prepare to apply for a loan.

Overdraft Consideration (OC) is for consumers who inadvertently overdraw their checking account. Rather than automatically returning the item(s) unpaid for nonsufficient funds, we will consider payment of the item(s) that overdrew the account. OC is provided as a courtesy to consumer accounts in good standing and is not intended to be used on a regular basis.