Latest Financial News

Friday Links

Friday, September 19, 2014 4:15 pm

-

MutualBank Secure Login

MutualBank Online Banking

 

Have suggestions or topic requests? Let us know.

  • Keep Your Information Current

    Wednesday, April 24, 2013

    One of the most important things that bank customers can do to help prevent fraud is to keep their contact information current with their financial institutions and credit card providers.  Old email addresses and phone numbers can be used by fraudsters to pose as you in order to defraud you and your bank.  It’s very easy to change email addresses and mobile phone numbers which are used as a primary communication means by most people these days.  Your bank and credit card companies rely on this information to verify transactions to ensure that they are legitimate.  Don’t let outdated contact information enable you to be a fraud victim.

    Here are some tips on keeping your information current with your bank:

    • New address – Make sure you notify your bank as soon as you move in order to keep receiving mailed information such as bank statements.  Also make sure that that you request the US Postal Service to forward your mail from your
      old address.
    • Phone numbers – As mobile and smart phones replace traditional land line based house phones, it’s very important to make sure that your bank is informed if you change and or eliminate a phone number.  If you decide to change mobile phone providers make sure that you are aware you can take your number with you to your new provider.  This can help eliminate the hassle if you wish to retain your phone number.
    • Email Addresses – Email addresses are the easiest contact point to change.  However, this also makes it easier to use a discarded email address for fraud.  Make sure that you keep your email address updated with your bank to avoid missing communication especially if you utilize eStatements. 
    • At MutualBank you can update any of your contact information using Online Banking or calling Customer Support at 800-382-8031.
    • In order to protect you, we will verify all address, email address and phone number changes.
    • If you receive a confirmation of any contact information changes that you did not make, please call Customer Support immediately at 800-382-8031.

    Remember, you can call us anytime. Let us know if you have questions or concern for your bank accounts. Call 800-382-8031or email customersupport@bankwithmutual.com.

     

    This blog is brought to you by John Mickle of Risk Management and Compliance
    with MutualBank.

  • Just How Good Are You?

    Tuesday, April 16, 2013

    There are things we all know we should do or at least we’ve been told we should do them. But just how good are you at getting them all done? Here’s a quick test. How many of these can you answer “yes” to?

    • You have your teeth cleaned every six months.
    • You pay every bill on time and in full every month.
    • You hit the gym at least 5 days a week… and do a full exercise routine.
    • You visit your doctor for a full physical twice a year.
    • You keep track of your intake of calories, fats, and proteins… every day.
    • You drink eight glasses of water every day.
    • You take your car in for an oil change every 3000 miles… or 7000 miles.

    Did you do pretty well? How about this one?

    • You pay close attention to retirement plans you left behind at former employers by studying the investment choices and making rational changes in line with your long term needs.

    If I got you on that one, then you should consider a retirement plan rollover to a MutualWealth Management IRA.

    More and more of us work for multiple employers throughout our careers and we end up with multiple retirement plans left behind. Even if you only had one employer you may have several plans that were offered at different times throughout your career. You don’t have to be retired to do a rollover. If you have terminated employment any retirement plan at that employer is eligible to roll over to an IRA.

    The most important reason to roll over to a MutualWealth IRA is for our professional services including helping you to establish investment goals, management of the day-to-day investment decisions, ongoing monitoring, record-keeping and keeping you informed.

    There are a lot of other things to consider before doing a rollover. For instance, company stock held in a retirement plan such as an ESOP or 401(k) generally should not be rolled to an IRA because you may end up paying more tax on it than necessary.

    If you’re over age 55 but under 59 ½ when you retire you can access retirement plan assets without the 10% early withdrawal penalty. This isn’t available in an IRA.

    Another feature not available to IRAs is that if you work past age 70 ½ you can defer taxable required minimum distributions until you do retire (unless you own more than 5% of the company).

    On the other hand, a MutualWealth IRA has advantages in addition to our services that aren’t available in company retirement plans. The possible investment choices are much greater and include individual stocks and bonds; you can withdraw money prior to age 59 ½ for education expenses for you or a dependent without the 10% penalty; and an IRA can allow you to stretch the tax deferred growth of your assets out over generations of your heirs.

    Let’s face it. We just don’t do all the things we’re supposed to do. It’s too easy to put off complicated decisions like a retirement plan rollover. MutualWealth can help weigh the pros and cons so you make the right choice. That’s another way we help you live a better life.

    David Riggs is Vice President and Trust Investment Officer with
    MutualWealth Management Group.

  • A Few Potential Tax Savings Reminders

    Wednesday, April 10, 2013

    It is once again that dreaded yet unavoidable time of year…tax time. While many taxpayers have already filed their 2012 tax return, many more are still gathering information and preparing to submit their returns. As the deadline approaches, we at MutualBank would like to take an opportunity to send a couple of reminders and highlight some potential tax-saving efforts for which customers may be eligible.

    First of all, make sure you have received all of your important tax documents for the year. If you have a mortgage or consumer loan, an IRA or Health Savings Account, or an interest-bearing deposit account like a CD or Savings account, then you will most likely have a corresponding tax document for each of those accounts. In addition, review your tax documents for accuracy. We want to make sure that our records match your records to ensure error-free reporting. If you have any questions or concerns about the tax documents you have received, or if you think you should have received one and didn’t, our Customer Support team will be glad to help resolve these situations.

    This time of year also presents opportunities to maximize your tax return for the previous year. Customers who have an IRA or a Health Savings Account may still be able to make contributions to count towards last year’s taxes. The IRS allows this as a way to take advantage of maximum contribution limits and the potential tax-deductibility of many contributions. The tax-filing deadline (April 15) is also the deadline for these prior year contributions, so eligible customers wishing to make use of this opportunity should stop by their local Financial Center at the earliest convenience.

    If you are curious about your eligibility to make these types of contributions, or if you have any other tax-related questions, we strongly encourage you to seek tax advice from a CPA or other qualified tax professional. Though tax time can be hectic and frustrating, a little planning and preparation can alleviate much of the stress of filing your return. 

    For banking questions, please call or email Customer Support at 800-382-8031 or customersupport@bankwithmutual.com.

     

    Jared Matchette is MutualBank's Deposit Product Analyst.

     

MutualBank on Twitter

MutualBank on Facebook

 
 
MutualBank