What is a Mutual Bank?
Don’t feel bad if you don’t know. A recent survey by the American Bankers Association’s Banking Journal and Morning Consult found that only 5% of U.S. adults are familiar with mutual banks. 18% said they were somewhat familiar, and more than 75% were mostly or completely unfamiliar with the concept. A mutual bank has a […]
Social Distancing leading to Social Engineering
Washing your hands and social distancing are top of mind for all of us, but in addition to ensuring we have healthy habits over the next few weeks or months, we also need to ensure we stay secure and limit our risk of exposure to the growing number of social engineering and phishing scams. The […]
Credit Unions Don’t Pay Taxes?
That’s right, credit unions don’t pay taxes. When I tell people that, they are almost always surprised. I find it interesting that it continues to be such an unknown fact. As President and CEO of Jarrettsville Federal, a true community bank, it is incredible to me that credit unions have been allowed to not only […]
The Right Way to Approach Overdraft Protection
Based on data released by the FDIC, the 10 largest banks in America collected $11.45 billion in overdraft and NSF fees from American consumers in 2017. What’s more, a recent survey by Moebs Services reveals that consumers paid a whopping $34.3 billion in overdraft fees in 2017 (this includes overdraft fees from big banks, smaller banks, […]
Passwords – The Lock or The Key?
Did you know that the average business person has 191 passwords. Those 191 credentials are the gateway to personal and financial information. According to a report by LastPass, 81% of confirmed data breaches are due to passwords. Yet 61% of people continue to use the same or a similar password everywhere, despite knowing that it is not […]