Monthly Archives: October 2015

Preparing for Winter Expenses

It never hurts to be prepared for the winter in Iowa. These tips help you save money during the coldest part of the year.

Even though the fall season didn’t officially begin until the end of September, it is already time to start thinking about saving money on common winter expenses. When you live in the upper Midwest, you need to be ready for Mother Nature to throw you a curve ball at any time.

Iowa State Bank & Trust Company agrees with you. We wish the cold winter winds, snow and ice would stay away, but we think it’s important that you’re prepared. There are steps you can take now to make sure you don’t have to spend a lot of money during the winter months, when it will cost you more. Taking a proactive approach now will save you money later.

Winterize Your Home & Vehicles

If you live in Iowa, you’ve likely experienced the frustration when your car doesn’t start in the morning due to cold weather. The cold can damage your vehicle in a lot of ways, from draining the battery to freezing fuel lines. Before winter sets in, make an appointment with your mechanic to make sure your car is ready for winter. If there are any repairs that need to be made, it will likely be cheaper than fixing them later when the cold has made everything worse.

The cold can also leave your home vulnerable. Obviously, you can expect your heating bill to go up during the winter months, so you should make sure you have enough saved to cover the larger bill. You also should take steps to stop the cold from freezing your pipes, which can be very expensive to fix. Cover pipes in unheated areas with blankets and make sure valves are closed off to prevent freezing.

Holiday Cheer

Not everything about preparing for winter has to be expensive. In fact, there are steps you can take to make sure you’re prepared for the holiday season. Iowa State Bank & Trust Company offers Christmas Club Savings Accounts that allow you to save for the holidays throughout the year. While it’s too late to take advantage of the savings for this year, you can open your Christmas Club Account to make sure you have money to buy presents for your loved ones next year.

The winter can be an expensive time if you are not prepared for it. To make sure you have money saved for unexpected winter expenses, open a savings account at Iowa State Bank & Trust Company.

Financial Crime Prevention Tips

These tips will help you reduce your risk for being a victim of financial crime.

You work hard for the money you earn, and Iowa State Bank & Trust Company offers several savings accounts and checking accounts to give you a place to store your money. Unfortunately, there are individuals out there who are also working hard, but they’re not working hard at saving their own money; they’re working hard at trying to take your money.

In observance of October as Financial Crime Prevention Month, Iowa State Bank & Trust Company is here to offer you tips to help keep your money safe.

Switch to E-Statements

E-Statements are a great way to keep track of your savings and checking accounts, showing you how your money was spent each month. Unlike paper statements, which are mailed to your home, e-statements are delivered to you via a secure email and can only be accessed through a password of your choosing. This makes it much less likely that your financial information can be taken away.

Be Aware of Scams

The fact of the matter is this: criminals are getting smarter and constantly thinking of new ways to try and steal your money. Among the newest trends in financial crimes are people impersonating banks or credit card companies.

These people will pretend to be calling or emailing to let you know of a problem with your account, and that you need to verify your account. They will then ask you to submit your account information. You should NEVER give out your account information to people you do not know, whether it’s over the phone, through email or in person.

If you believe your accounts may have been compromised, or that you may be at risk for identity theft, there are steps you can take to help restore your money. First, contact Iowa State Bank & Trust to let us know of any problems you are noticing. Next, notify the local police so they can begin investigating the crime.

For more information about how you can protect yourself from fraud, visit the Iowa State Bank & Trust Company website.

Breast Cancer Charity Donation Tips

Use these tips to make sure you are donating your money to a well-respected charity that will help the people you’re looking to help.

Whether you’re seeing pink ribbons around your community or you notice your favorite National Football League players wearing pink socks and gloves on Sundays, you’re likely well aware of the fact that October is Breast Cancer Awareness Month across the country.

Iowa State Bank & Trust Company believes in supporting causes that help raise awareness and funds for breast cancer research, but we want to make sure you know that there are steps you can take to make sure the money you’re donating is going to help the people who need it most.

Research The Charity

Before writing your check, take some time to go online and research the charity that is seeking your donation. That fact is, billions of dollars are donated toward charitable causes each year in the United States, and people will look to take advantage of your generosity. There are scam artists out there who will set up fake charities and collect money that will never go toward research or aiding individuals with breast cancer.

View the Charities Expenses

Once you’ve verified that the charity is authentic, ask for a breakdown of how the charity uses its donations. The Better Business Bureau recommends charities spend about 65 percent of its donated funds on program expenses, which allows for up to 35 percent of money brought in through fundraising to be put toward research. You can use tools like Charity Navigator to research expenses. Unfortunately, there are many charities across the country that will see their program expenses go well above the 65 percent threshold, which means they are putting more money into running the charity than helping people. Remember, the less the charity spends on itself, the more it’s spending on the cause you donated to in the first place.

Iowa State Bank & Trust Company believes in donating to causes that support breast cancer research and helping people fight the disease. To make sure you have enough money to donate to a well-researched charity, consider opening a savings account at Iowa State Bank & Trust.