When it comes time to pay for our groceries, gas, meals or other daily needs, you probably reach for a credit or debit card to take care of those expenses. In a 2022 Pew Research poll about what payment method Americans use to make their purchases, 41% of respondents said none of their purchases in a typical week were paid with cash, up 12% from the last survey four years prior. The convenience and security of credit and debit cards have made them a staple in our current financial state. While the card’s form has primarily stayed the same since its introduction to the mainstream, its interacti ..read more

The Federal Trade Commission (FTC) estimates that it can take approximately six months and 200 hours of work to recover from an identity theft. Being cautious with your personal identity information is your first line of defense. Read on for warning signs and prevention tips to keep your identity safe. The post Prevention Tips: Protecting Your Identitiy appeared first on Community Point Bank ..read more

As technology has changed every aspect of our daily lives, we have found ways to move traditional services, including banking, to a completely digital space. There has been a steady increase in mobile and online banking over the last decade. According to an FDIC survey, in 2021, 43.5% of respondents who used a bank used mobile banking regularly. This was a sharp increase from the percentage in 2017 at only 15.1% of bank customers.  Once known as a cornerstone of their communities, traditional banks see that many customers are now more likely to interact on a screen rather than walk in off ..read more

When working on your financial fitness, one of the first places experts say to look is your credit score. If you feel slightly lost when you hear the term, it’s okay; you’re not alone. A recent survey found that 31% of Americans don’t know their credit scores. Whether you’re looking for a new place to live, a job, or a new line of credit, those three little numbers that follow your name can feel mystifying. Your credit score can affect what opportunities are presented to you. If you’ve asked yourself or others about what your credit score is used for or what it does, stick with us to learn mor ..read more

  QR codes seem to be everywhere. You may have scanned one to see the menu at a restaurant or pay for public parking. You may have used one on your phone to get into a concert or sporting event or to board a flight. There are countless other ways to use them, which explains their popularity. Unfortunately, scammers hide harmful links in QR codes to steal personal information. Read more to learn how to prevent being a victim of quishing. The post Prevention Tips: Quishing, the New Phishing appeared first on Community Point Bank ..read more

As you wrap up this year and look toward the next, you can begin to dream about what the new year will hold. What do you want to accomplish next year? What are some of your biggest goals?  It feels like a chance to start fresh, which is why so many people create New Year’s resolutions. These pledges to do better in the new year are nothing new. Some scholars have traced these annual promises to ancient Babylonians, Romans and medieval knights. One New Year’s resolutions poll found that approximately one-third of Americans looked to improve heading into 2023. While improving health and fit ..read more

Whether you’re five weeks away from retirement or 50 years removed from getting your golden watch, you want to be completely prepared when you clock out for the final time. While you diligently plan, save and invest to be ready, hidden costs may lurk under your pristine retirement budget. At Community Point Bank, we want to help our customers and community tackle their financial goals, including saving for retirement. Stick with us to learn more about hidden retirement costs and what you can do to be prepared. What Is a Hidden Retirement Cost? Retirement planning can feel like a guessing game ..read more

As you map out your financial goals for the future, you may have come across the term “financial independence.” But what is financial independence? Fiscal freedom can look different for everyone. You can search high and low to answer the question “what is financial independence?” and not find the same explanation. However, one aspect is true for every situation: at the core of financial independence is having a say in how your money is used. Keep reading to learn more about financial independence and how much you need to achieve it. What Is Financial Independence? The concept of not feeling co ..read more

Developing attainable financial goals is one of the best ways to set yourself up for future success. Budgets and retirement savings are a few financial goals that can help you gain more control over your money. However, what are you supposed to do when your financial situation is out of your control? You can plan out several aspects of your financial life to achieve success, but substantial, unexpected costs can toss your best-laid plans out the window. If you’ve recently experienced a financial emergency and are dealing with the aftermath, please take a moment to keep reading. We’ll cover com ..read more

Saving money is top of mind for many of us. About 9 in 10 Americans save regularly, according to a NerdWallet survey. Of these savers, most said their top goal was building an emergency fund.  Saving for your goals can be more challenging than it sounds. Should you start saving more? If so, where do you begin, and how many savings accounts should you have? One savings strategy is to open multiple accounts and use each for a specific purpose.  Should you open a second or third savings account? Discover how this strategy could benefit you, especially if you have several financial goals ..read more