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Financial education for teenagers often focuses on the basic mechanics of managing money. Foundational skills like how to open a bank account or track expenses are necessary, but effective financial education needs to go further. Navigating the complexities of the modern economy means going beyond basic bookkeeping and budgeting to a concept of financial resilience. This is an ability to withstand, adapt to and recover from financial shocks. It requires a shift away from mere accumulation to...

Do you want to save money this summer, but don't want to resign yourself to staying at home with your feet in the kids' blow-up plastic wading pool? Just because you are a thrifty, penny-pinching parent doesn't mean you can't have fun while the kids are on their summer vacation from school. There are all sorts of summer savings to be had if you are creative in your approach to financial responsibility. Consider the following summer savings suggestions if you want to make the most of summer...

Fraud Alert: Protect Yourself from Scam Calls Impersonating Our Fraud Department We want to make our members aware of an important and ongoing scam targeting financial institution customers. Recently, some individuals have reported receiving phone calls from people claiming to be from our “Fraud Department” regarding suspicious activity on their online banking accounts. While these calls may sound convincing, they are not legitimate and are part of a fraud attempt. How the Scam...

Budgeting plays a crucial role in financial success. This article discusses four habits that can hinder your ability to budget and how to change them. 1. Eating Out Every now and then, we all deserve a treat. Maybe you had a busy day at work and need to grab a quick meal, or perhaps you're itching for a night out with your partner. Eating out in moderation is fine, but it can quickly get out of control. The fix: One of the easiest ways to save money is to shop for groceries and...

Why do so many people trust banks to hold onto their money safely? Today, most banking customers understand that their money is fully protected in the event of a bank failure, but this was not always the case. Fortunately, the vast majority of banks, both online and brick-and-mortar institutions, carry FDIC insurance that protects all of their depositing customers. What is FDIC Insurance? FDIC stands for Federal Deposit Insurance Corporation. It is an independent group that was...

Most financial experts will tell you that you need three to six months of expenses saved for emergencies. For the average American household, that's anywhere from $10,000 to $20,000 sitting in the bank. If you're living paycheck to paycheck, that number probably makes you want to close this article right now. Don't. Here's the truth that most financial gurus won't tell you: the hardest part about building an emergency fund isn't saving thousands of dollars. It's saving the first...

Debt Management Strategies: How to Get Out of Debt and Stay Debt-Free If you want to keep your personal finances in shape, you have to keep on top of debt. A debt burden can easily overwhelm any plans you might have, financial or otherwise. With the right strategies, however, you can manage debt effectively, put it to work when appropriate, avoid it when you should, and reduce it when you need to. Understanding debt management and consolidation, and approaches like the snowball and...

Money Saving Tips for Back to School Shoppers If you are a parent, the most expensive time of the year is fast approaching. With the summer nearly over and autumn close on its heels, the kids will soon be heading off to school, and that means hundreds of dollars in new back to school clothes, expensive school supplies and other necessary gear. If that were not bad enough, by the time back to school season is over, the holidays will be fast approaching. If you do not manage your back to...

The Federal Bureau of Investigation is warning consumers about a banking scam that begins with a text message regarding a fictitious transfer of funds. In this SMSishing attack, the criminal sends a text that looks like a real fraud alert. The message asks the recipient to confirm that he or she used a banking app to transfer funds from an account. If the recipient responds with a "no," the criminal calls the target posing as a bank rep to discuss reversing the transfer. In reality, the...

What is Spoofing? A unique type of technology now enables fraudsters to fake the number they are calling from by making a false number appear on your caller ID. It’s extremely effective, because the number displayed appears to be your bank’s correct contact number. This scam is called number spoofing, and here’s how it works: criminals clone the actual telephone number of an organization they want to impersonate. Using specialized technology, the number appears on the victim's...

You consider yourself a tech savvy user. You know your way around the computer, you can install your own software with ease and you even know how a virtual private network (VPN) works. Being a smart and savvy tech user is important, of course, but even the well educated and sophisticated can make some critical mistakes. Here are five dangerous cyber security blunders that can trip up even the most advanced user. #1. Locking Your Phone with Your Banking PIN Setting a PIN code may...

At this point, most people know what "phishing" means - the creation of fake "spoofed" emails in order to trick people out of personal and banking details. A variant, however, is becoming more and more common. So-called "spear phishing" is a growing problem affecting more companies every year, and it requires a bit of specific knowledge to deal with. What is "Spear Phishing?" In normal phishing attacks, the hackers spread a wide net. They may even send the fake emails to people who...