The original column appeared in the Tribune-Democrat, written by Eric Renner, CEO and President of 1ST SUMMIT BANK. Click here to see original column. Last week, the Federal Reserve announced that interest rates will likely increase starting in March in an effort to tame the economy’s elevated inflation, which currently remains well above the Fed’s goal. To the average consumer, […]

Financing a college education with the least amount of debt involves putting together a variety of resources in the most favorable way for your family. It requires planning, savings discipline, an understanding of financial aid, smart college research, and good decision making at college time. Your College Fund Your savings are the cornerstone of any successful college financing plan. It’s […]

As families grow in size and overall wealth, a desire to “give back” often becomes a priority. Cultivating philanthropic values can help foster responsibility and a sense of purpose among both young and old alike, while providing financial benefits. Charitable donations may be eligible for income tax deductions (if you itemize) and can help reduce capital gains and estate taxes. […]

Banks Never Ask That Did you know that consumers lost $3.3 billion to phishing scams and other fraud in 2020? Every day, thousands of people in the U.S. fall for fraudulent emails, texts, and calls from scammers pretending to be a bank. Victims of phishing attacks can lose hundreds, even thousands of dollars, and the pandemic has only increased the […]

Do you ever wonder where your money goes each month? Does it seem like you’re never able to get ahead? If so, you may want to establish a budget to help you keep track of how you spend your money and help you reach your financial goals. Examine your financial goals Before you establish a budget, you should examine your […]