Latest Financial News

Oil will tumble to $70 says new 'bond king'

Thursday, October 23, 2014 12:31 am

The meltdown in the oil market is not over yet.

MutualBank Secure Login

MutualBank Online Banking

 

Have suggestions or topic requests? Let us know.

  • Who's on First? Account Titles and Why It's Important.

    Wednesday, September 19, 2012

    What names are on your checking account? This sounds like a pretty simple question, but you would be surprised how many people are unclear about it. If you are married, perhaps you do not have both you and your spouse on the same account. There are many reasons why this may be the case. Maybe you and your spouse have separate accounts. Perhaps when you opened the account, the other person wasn't present or maybe you have had major life changes. There can be many reasons why.

    Think back to when you opened your account one, five, 15 or more years ago. Is everything the same as it was back then? Have you revisited your account set up to ensure your account reflects the stage of life you're in now? Let's discuss why it might be important to do a quick review of your accounts. It's something that may take you a few minutes, but can be very worthwhile.

    1. Access to your money- This is the most obvious reason, but very important. Anyone named as an "owner" on an account has access to the money within it. They can write checks (on checking accounts), withdraw money, or even close the account. It is important to ensure whoever is named an "owner" on your account is someone you trust and is supposed to have access to your money.
    2. Estate Planning- If you were to pass, do you have beneficiaries named on your account? Having a beneficiary named can help with the distribution of your funds should something happen to you. Also, you may consider having an additional owner that may be able to help with bills if you are unable to do so.
    3. FDIC Insurance- FDIC Insurance coverage can vary depending on how your account is titled. Please consult your MutualBanker to see what would benefit you the most.
    4. Peace of mind- Sometimes it helps us relax if we know that in the event of something happening, expected or unexpected, our accounts are in order. It can provide peace of mind knowing there will not be a burden left on those responsible for handling your estate.

    Account titling can be something that we would be glad to help you with at your local MutualBank Financial Center. You should have an account review on at least a yearly basis to make sure your present life situation is reflected in your bank accounts. This is very important as banking becomes more dependent on electronic banking, such as mobile banking, online banking, etc. Also, as an estate planning tool, you need to be sure that your assets pass to who you want them to go to in the event of an unexpected tragedy. This is important whether you are 18 or 80!

    Let us at MutualBank help you live a better life!

  • Have You Changed Your Online Banking Password Lately?

    Friday, April 20, 2012

    Yes, itís the familiar question many of us get in todayís world of technologyÖĎHave you changed your password lately?í  Recognizing that it can be challenging to change passwords often it is however something that is necessary to help prevent financial fraud.

    MutualBank is taking steps to help you protect your financial records accessible online.  In October of 2012 MutualBank Online Banking customers will be required to change their Online Banking passwords every 180 days.

    Please consider changing your password now in order to get used to this new process.  As you change your password we ask that you follow the guidelines listed below in crafting your new password.

    Online Banking Password Requirements

    • Passwords must be at least 8 characters long but less than 17.
    • Passwords must contain at least 1 number.
    • Passwords must contain at least 1 alpha character.
    • Consider using both upper and lower case alpha characters.
    • Consider using special characters such as Ď!, @, $, %, etc.í.
    • Do not use your name, date of birth, maiden name, motherís maiden name, address, dictionary words, or other easily guessable words for passwords.
    • Instead of writing a complete password down to remember it please consider only writing down a password hint that will help you remember and even then donít leave this paper laying out in plain view.

    If you need further assistance with changing your password please
    call us at 800-382-8031.

    Check out our Financial Education Center for more articles and calculators to help you live a better life!

  • Credit and Debit Card Fraud Prevention: It's More Than Knowing Where Your Card Is.

    Wednesday, March 14, 2012

    Years ago people had A credit card... one, uno.  Rarely did people carry around two, four, six, ten, twenty plus cards in their wallet or purse.  Today, people do carry that many cards and donít even realize it.  Take a look at all those card slots in your wallet. Theyíre full arenít they?  Debit cards, credit cards, discount cards, membership cards, rewards cards, gift cards, and access cards.  Iím sure there are others, but thatís just a quick look through my Card Cubby.  Yes, I said ĎCard Cubbyí. 

    I have an official organizer for all of my cards and oh yes, they are alphabetized.  Itís a great invention and I receive complements all the time on what a great idea it is.  Itís an easy way to track all of my cards and a quick way to find out if I have a gift card to a store or find my discount card in line at the supermarket.  (Everyone behind me in line probably doesn't want to wait for me to dig through my Mary Poppins purse to find that little 1x2 inch card so I can save a few dollars.) 

    Reviewing the transaction activity on your cards is just as important as knowing where your cards are.  Did you know that fraudsters can steal your card number and use it without actually having the card?  Logging into your online banking and credit card websites regularly, or at a minimum, reviewing your monthly statements can save you hundreds, if not thousands, of dollars in fraudulent charges. 

    If you carry a zero balance on your credit cards, itís still important to see if there has been any activity.  If you donít have a balance that means there is more spending money available for the fraudsters.  (If you donít recognize a merchant name, do a search online because it might be a parent company.)  It is important to contact the merchants where the fraudulent transactions are coming from and explain that they are fraudulent transactions.  Also, It is extremely important to contact your bank or credit card company to close your card.  Without closing your card and getting a replacement with a new number, fraudulent charges can continue to hit your account.

    I login to my online banking and credit card websites weekly.  Last month I had $4,000 in fraudulent charges in Texas on a credit card I rarely use and was in my possession.  WOW!  I contacted the merchants and called my credit card company right away.  Because I didnít wait to notify them, Iím not liable for the charges.  If I would have waited days, weeks, or months, I could have been liable for some or all of the $4,000.  When you notice fraud, donít wait to take action.  The longer you wait, the more time fraudsters have to take your money. (And the greater chance youíll have to pay for it.)

    Having and using these cards make our lives on-the-go easier and more convenient.  We donít have to worry about carrying cash; just swipe, earn rewards points, and go.  I couldnít live without my debit card and donít intend to stop using it any time in the future, especially with all the rewards points I earn.  And yes, I cash those points in for more gift cards to keep in my Card Cubby. 

     

    We're serious about doing all we can to protect you from debit card fraud. MutualBank customers can call 800-382-8031 to report any instances of fraud or suspicious calls.

MutualBank on Twitter

MutualBank on Facebook

 
 
MutualBank