If yourself or someone you know has opened a new checking account recently at a new bank they probably ran into a process called ChexSystems. ChexSystems is a service that became available to banks in 1971, letting financial institutions run reports on prospective customers to find out if they have had undesirable account history in the past.
The down side to this is if you have ever made an honest mistake with a bank account in the past you are marked by ChexSystems for five years. Most banks will not open a savings account for someone with a history on ChexSystems much less a checking account.
Since many people on ChexSystems did not open their accounts with that intention it can be like a 5 year punishment imposed by banks. If you do not have a bank account you are forced to pay to have your checks cashed, purchase money orders, and pay fees for prepaid Visa cards.
Central National Bank has a new account that can help the majority of people who have been turned down by ChexSystems in the past. New Opportunity Checking is a real checking account with a debit card, checks, and ability to have direct deposit to the account.
There are restrictions on the account like no overdraft protection and a monthly fee for the account. But the good news is that after 12 months of good account standing the customer is eligible for a regular Free Checking account with Central National Bank. There are other restrictions to the account that a Central National representative would be happy to discuss with a potential customer as well as see if they qualify for New Opportunity Checking.
Bad things happen to good people and Central National is recognizing the need to have products that can serve a wider population of customers. Please come in today and inquire about New Opportunity Checking at a branch near you or give us a call.
In one of the first blogs I wrote for this site I talked about simple ways to be more green. One way was collecting junk mail and taking it to recycle. This is much better than letting this unsolicited paper mail fill our landfills. On the Today Show this morning on NBC they featured a Website that’s message is let’s stop the catalogs from ever getting to our Mailbox. This site http://www.catalogchoice.org/ takes your name and address and you can select what catalogs you would like to stop receiving. If you are like me you bought one thing, one time on the internet, and now you get catalogs from that store a couple times a month. I don’t want my one time bargain to be hurting the earth so I’ve already signed up and cancelled two catalogs!! You do have to register on the site but they do not share your information with spammers. It also helps to have the magazines or catalogs with you when you opt out of getting them. Please go take a look at the site and if you thinks its helpful use their invite link to send the website to all your friends. Let’s save some Trees!!
Say goodbye to teller lines, drive-thrus, and bankers behind desks. A slow growing trend on the east coast will tell you that kind of banking is out of touch with high tech consumers.
Ascend Federal Credit Union in Nashville, TN feels more like a GAP than a bank when you first walk in. A greeter at the front desk can help direct you to the person you need or they can sell you an Ascend T-shirt or coffee mug.
Even the most loyal customer, one who even likes a bank’s logo, might wonder why they want to give money to the bank for a coffee mug. Well Ascend uses all the money sold from their merchandise to help charities. After learning that you might take two cups!
With floor to ceiling windows and all the bankers sharing the same identical offices this bank feels like the customer’s building where everyone is on even footing.
In other areas the retail trend takes a different shape. Instead of looking like a GAP your next bank could look and smell like a Starbucks! But you will get out a lot cheaper as the banks are giving away the coffee and scones in exchange for your business. These latte looking lounges also have computer terminals where one can check their on-line banking or pay bills on-line.
Banks like any other business are always evolving to try to attract new customers as well as be the best they can be for their existing clients. Will this new trend fit that bill? I think if you see this new retail style of banking in your neighborhood the answer is yes.
Check out some pictures of new age banks at
There are lots of people out there making a living off of tricking an honest consumer out of their money. Yet there are simple tips and precautions that can protect you. After all criminals look for the easy scam, if they were into hard work they would probably have real jobs!
Do not leave your wallet or purse in plain sight in an unattended vehicle. It takes less than a minute for a passing thief to break your window and snatch anything they want.
Never write your PIN on your debit or credit cards or have them written down close to where you keep your cards.
Buying products or services on-line must be done with care. Using reputable sites that have been around awhile is always encouraged. Sometimes when you authorize them to charge your card you are unknowingly signing up for a service as well. They might charge your card every month for a monthly e-newsletter or some other nonsense.
This is more a fact than a tip. Lately there has been an e-mail rumor going around saying if you are held up at the ATM and you put in your pin backwards the ATM will signal the police. THIS IS NOT TRUE! In fact most debit and credit cards have the option where the user can pick their own pin number. In that case if you pick 5555 as your pin there is no way the ATM could decipher what is forwards and what is backwards.
Thanks to Sherol Rumbagh for sharing these tips!
When I ask customers if they would like to try online bill pay some say they already pay their bills online, but they go through their providers’ websites. “Same thing right?”
Well not quite! You are paying your bills online, but you are doing it the hard way. Online bill pay from a bank gives you one stop shop to pay all your bills at the same time, instead of going to numerous websites to pay each bill individually. You enter in the name of the payee you want to pay, how much, and when. Just log in and take care of everything all at once.
You can process payments online to anyone, even if they do not have their own online payment system set up. The payments are processed on whatever day you choose. Some larger companies accept payments electronically aka ACH (Automated Clearing House) while others still require a check to be mailed. Either way this is a fast, convenient way to pay your bills. Anyone with a mailbox can get a payment from online bill pay!
At Central National Bank you can test drive bill pay for up to six months to see if you like the convenience. So forget the stamps, envelopes, and going to several websites to pay your bills!
I am proud to present the first installment of Central National Bank’s recipe corner! Where we are proud to present our favorite recipes with all our blog fans and friends.
The debut recipe is one of my all time favorites Cookie Salad! It is always a hit and despite the name it is more of a dessert
You can’t mess this one up and it is always a rave at potlucks. And one tip I have is right after you make it for yourself pass the instructions along to a friend with the extra of your buttermilk. If you are like me, I had no use for the rest of my buttermilk and didn’t want it to go bad, you’ve got about a week and a half before that happens.
Enjoy! And look for more recipes to come!
- 2 (3.4 ounce) packages instant vanilla pudding mix
- 2 cups buttermilk
- 12 ounces frozen whipped topping, thawed
- 1 (20 ounce) can pineapple chunks, drained
- 2 (11 ounce) cans mandarin oranges, drained
- 1/2 (11.5 ounce) package fudge stripe cookies
In a large bowl, mix together the pudding mix and the buttermilk. Fold in the whipped topping. Mix in the pineapple chunks and mandarin oranges. Chill until ready to serve. Crush cookies and mix in just before serving. You can also freeze it and make a frozen treat out of it for hot summer days.
I admit when I left home and went to college, I was not the most financially savvy high-school graduate. Now at the ripe old age of 27 I wish I knew then what I know now, at least when it comes to my credit report.
I’m still not sure why I thought it would be a good idea to apply for seven credit cards in one day to get free one-size-fits-all t-shirts that sat in the back of my closet until finally making their way to the trash. Mind you, I never actually used any of those credit cards, so my credit report was safe, right? Wrong.
Why didn’t somebody tell me that was a sure-fire way to lower my credit score instantly? Maybe because I didn’t even know what a credit score was or why it was important.
Oh, and don’t get me started on student loans. You mean I actually have to pay those back someday? With interest? And who ever thought it was a good idea to offer me more loan money than I needed for tuition? Yet I gladly accepted it.
Well, I’m a little bit older and a little bit wiser, especially after I had the opportunity to attend a financial literacy seminar offered by my bank. Now I plan to make it my goal to spare the young and credit-naive the pain of learning from bad experiences. I recently had the honor of coaching a group of young adults who are enthusiastic about building a strong credit history for themselves. Maybe I can live vicariously through them as I watch them avoid the mistakes I wish I didn’t make!
So ever since I read a “Green” issue of a favorite magazine I’ve been trying to be conscious about what I could be doing to help the Earth. I know I take a lot of things for granted but after reading about how many forests are cut down to make toilet paper I was depressed! It seems like everything I do thru the day has a harmful side effect on the world, so what is one to do who wants to help?
At first I started freaking out thinking I’m going to walk everywhere and never buy a piece of plastic again. That lasted all of five minutes before I decided I needed to drive to the store for some sandwich baggies because I was fresh out. L Hmmm this was going to be tougher than I thought.
Made a quick note to self: Self- be more realistic and change small things constantly until your lifestyle changes.
My change for this week is to get some bills and my bank statements e-mailed to me (uses less paper), and make a recycle pile for my junk mail. I’ve only been collecting my junk mail for a few days and have already filled a shoebox!
Plus almost anything I can think of has a recycled version. Its nuts, I’m a knitter and there is even recycled yarn, or bamboo yarn that is made from a renewable source. I had no idea that the acrylic yarn I was using to make mittens is more from an oil Derek than a Ewe! I encourage you to change something small and make yourself a little greener! The World appreciates our efforts! J
Check out this link but make sure you are sitting down!
As soon as I graduated college I knew that I wanted to buy my own place. I had rented for four years, done the math of how much I had paid someone else, and was ready to start paying myself! Plus my family was done hauling my stuff to a new place every year.
I figured out my gross income from my first full time job and thought, “I’m ready to buy a house and some patio furniture!”
I went thru the process the blind way. Got pre-approved on one program, didn’t ask enough questions and got a lot of surprises at closing time. I tried researching on the internet and it was a great place to start, but should have sat down with a mortgage professional to clarify things for me.
Fees, insurance, and taxes were all things I could have gotten a better grasp on before starting the process but I had no idea how many mortgage options were available to me! I took the first mortgage that was presented to me, not cool considering I looked at thirty houses before making an offer. Just like houses, there are several mortgage programs on the market as well. There are 100% financed programs and no PMI insurance programs just to name a few.
So these are not your parents 20% down 30-year mortgage days. And mostly the unbelievable rates on the internet and radio are too good to be true. Always ask about fees, its not just interest-rates you are shopping! And see where your mortgage will be serviced. A lot of places sell it to another company you’ve never heard of as soon as you walk out the door.
It helps to talk to a real-live person, tell them you are a first time home buyer, and ask them tons of questions. They don’t mind! They want to help you get the home and will show you responsible ways of getting the funds.
So now I have a house, more information for next time, and still no patio furniture!!