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Greetings!
Summer has finally arrived in Central Maine! Unfortunately, it was a little late for the 2011 River Fest in Skowhegan, but despite the rainy, damp weather we received throughout the weekend, the spirit and energy of the volunteers, attendees, vendors and musical talent was remarkable. I particularly enjoyed the Farmers Market and the local breads, cheeses and produce. If you haven't visited the market, I would encourage you to check it out on Saturday mornings or Wednesday afternoons at the Grist Mill Parking lot in downtown Skowhegan. Although the sun is shining brightly, the clouds remain over our economy, and if you watch too much news, you'd think we were in a constant storm. On the bright side, interest rates are at all time lows and Skowhegan Savings is in a great position to lend money, so if you have ever thought about buying that camp on a lake or putting an addition on your home, it's a great time to do so. If you're traveling this summer, check out our mobile banking services which allows you to keep track of your finances while you're on the go. Enjoy the summer, and if you're tempted to complain about the heat...think January! Sincerely, 
John C. Witherspoon President & CEO | |
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Paychex®: Affordable Payroll Solution
If you are a business owner, we know your time is very valuable, and frequently very limited. If you feel like you are spending too much time calculating employee paychecks or previously thought your business was too small to consider a payroll service, we are pleased to announce our partnership with Paychex payroll services. Paychex payroll services are easy to set-up, accurate, affordable and come with personalized customer service.
Paychex provides a full range of services like those of national payroll providers, but is backed by local Payroll Specialists, making the program both convenient and reliable.
A Paychex payroll package provides customers with the following features in a reasonably priced package:
- Payroll
- Taxpay
- Direct Deposit
- Check Signing
- Check Reconciliation
- Online Services
- Local Support & Processing
For more information about Paychex or any of our other business services, click here.
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Credit Cards: Read the Fine Print Before
You Sign Up
*Article adapted from the FDIC Consumer News, Spring 2011 Edition
Not all credit cards are alike. That's why it's important to carefully review a card's terms and costs before you sign up for it.
In general, if you expect to pay your card bill in full each month, your best bet is a card with no annual fee and with the kinds of rebates or rewards that fit your lifestyle. "You also want to make sure the creditor grants you a 'grace period' before incurring interest charges; not all card companies do that nowadays," said Karen Porter, a Senior Consumer Affairs Specialist at the FDIC. With cards that have no grace period, you always pay interest, starting from the date of purchase.
If you don't expect to pay off your card balance in full most months, go for a card with a lower Annual Percentage Rate (APR) and the right mix of rebates or rewards to justify any fees. Also, if the card has a low, introductory interest rate, be sure you know when the new, higher rate will take effect and what that rate will be. And, credit cards with offers of "zero-percent interest" on purchases for a certain amount of time could end up being more expensive if you don't pay the balance in full by the expiration date.
"When considering a balance transfer, make sure you know all the details and terms of the transfer," added Nancy Tillmon, an FDIC Consumer Affairs Specialist. "Online credit card calculators also can help you compare the terms of existing accounts against the details of the new card. Comparing card products could save you money."
Also, be cautious of all fees. For example, credit cards that offer generous "rewards" (such as points or cash back) may have high annual fees. "The terms and conditions of earning and using the rewards can be complicated," warned Porter. "Rewards cards may also cause you to overspend just to earn the points."
Other fees to think about include late fees, over-the-limit fees (for transactions that would put you over your credit limit), and balance transfer fees.
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8 Tips to Avoid Online Scams
*Source: OnguardOnline.gov
Every year throughout the world, people are manipulated by scam artists who steal not only sensitive financial information, but a sense of security and peace of mind, as well. Below are tips to help ensure you won't fall victim to any online scams:
Tips to Avoid Online Scams:
- Refrain from sending money to anyone you don't know personally.
- Make sure you don't divulge any financial or personal information via email.
- Realize wiring money is a permanent transaction.
- Monitor all statements and bills closely - both hard copy and online versions.
- During national disasters, donate to renowned, large charities.
- Understand investments are not guaranteed.
- Understand from where offers originate and who you will be working with.
- Communicate with health care providers before purchasing healthcare products.
Reporting Online Scams:
If an unfortunate event arises and you think you have encountered an online scam, file a complaint at ftc.gov, or outside of the United States at econsumer.gov. All complaints are included in the Consumer Sentinel Network database, used by law enforcement agencies all over the globe.
Visit ftc.gov/idtheft to take steps to minimize the risk of an online scam.
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| Skowhegan Savings, founded in 1869, is an independent mutual savings bank dedicated to strengthening the Maine families, businesses and communities it serves. Named as one of Maine's Best Places to Work in 2009 and 2010, Skowhegan Savings' team of friendly, committed employees takes pride in delivering personalized, competitive banking services with integrity and putting the needs of their customers first. An innovative and progressive approach to banking ensures their customers enjoy a banking experience that is quick, easy and convenient. Skowhegan Savings' ten Maine branches include two locations in Skowhegan, as well as locations in Belgrade, Bingham, Dexter, Fairfield, Jackman, Madison, Norridgewock, and Pittsfield. For more information, visit www.skowsavings.com or contact Customer Service at 800.303.9511. |
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