Businesses require bank accounts of course, however, there are reasons why maintaining a true banking relationship has critical value to a business.

Brush up on business loan terminology with this glossary of terms.

A strong password is one of the best ways to defend your accounts and private information from hackers.

MassHousing is another name for the Massachusetts Housing Finance Agency, which is an independent, quasi-public agency created by the Massachusetts Legislature in 1966 to help provide financing for affordable housing in Massachusetts.

Since the beginning of 2022, there has been a substantial increase in scams targeting unsuspecting victims through fake phone calls, text messages or emails.

FDIC Insurance protects bank depositors against the loss of their insured deposits in the event that an FDIC-insured bank or savings association fails.

A Money Market Account (sometimes referred to as a Money Market Demand Account or MMDA) is an interest-bearing savings account which also has features of a checking account.

A safe deposit box (or safety deposit box) is an individual secure container, usually a metal box, that stays in the safe or vault of a federally insured bank or credit union.

The terms “overdraft fee” and “NSF fee” are sometimes used interchangeably, but they are different. The common element to both fees is a shortfall of money in the account.

The term “CD” is the short name for “Certificate of Deposit” and is a type of savings product with a fixed time period and interest rate.

Joint accounts are owned by two or more people and can be useful when people are sharing expenses such as household bills or saving for a common goal. With a joint account, deposits in the account or belong to all owners named on the account.

The MassDREAMS (Delivering Real Equity and Mortgage Stability) Program offers down payment and closing cost grants for first-time homebuyers in certain Massachusetts communities that were disproportionately impacted by the COVID-19 pandemic.

A checking account is a common type of financial institution account designed for everyday use to deposit finds, make purchases, and pay bills.

Brush up on your Banking terminology with this glossary of terms. 

Zelle® is a person-to-person (P2P) payment system that is a fast and easy way to send and receive money with people you know and trust using only an email address or phone number. Because Zelle® transfers are so quick and easy, there are a number of risks and scams that you need to be aware of when utilizing the app.

Business email compromise (BEC) exploits the fact that many individuals rely on email to conduct business, both personal and professional, and is one of the most financially damaging online crimes.

The term “basis points” comes up in discussions about interest rates. Here is a definition of what it is and why it is important.

A home equity line of credit (HELOC) is a mortgage on your home that allows you to access cash by borrowing against the equity in your home.

The term “points” comes up a lot in discussions about mortgage loans. Here is a definition of what they are and why you might want to use them.

Ever wonder what it means when a mortgage is referred to as fixed, variable, adjustable, or interest-only? Here are explanations of popular mortgage rate types.

The Fed Funds Rate, the Prime Rate, and the 10-Year Treasury Bond Yield play a role in the overall mortgage rate environment.

Regardless of the size of your company, eStatements can help make managing your business easier by saving time, helping to prevent fraud, and reducing paper clutter.

The term is popular, but what exactly is considered a “small business”?

The ONE Mortgage affordable homeownership lending program offers an affordable program for first-time buyers through Massachusetts Housing Partnership.  

Scammers continue to develop ways to try and cheat you out of your money over the phone via calls or text messages.

Social engineering is the general term given to attempts by fraudsters to manipulate a victim into performing actions or divulging confidential information.

Brush up on business insurance terminology with this glossary of terms.

Multi-factor Authentication (MFA) refers to adding an extra step to the login process and is becoming more important for protecting systems.

Brush up on your cash management terminology with this glossary of terms. 

A business line of credit provides access to short-term funding that can be used for business expenses as they arise and is often used to help with business cycles or seasonal cash flow fluctuations.

In the simplest terms, cash management is the process of collecting and managing cash flows and is a key component of a company's financial stability.

There are three loan programs available for small business borrowers through the United States Small Business Administration (SBA). Your lender will help determine the type of loan that is best suited for your business needs.

An SBA Loan is a business loan guaranteed by the United States Small Business Administration and offered through lenders, community development organizations, and micro-lending institutions.

With a small investment of time, you can give your personal finances a do-it-yourself checkup to help keep your financial goals organized and help you to focus on your priorities.

It’s important to periodically review the beneficiaries named on financial assets including your life insurance policy, IRA, or 401(k). 

In light of the recent news regarding businesses and municipalities losing money due to electronic transfers, here are some best practices for you to review with your company.

In August 2021, T-Mobile confirmed that they had a major data breach that potentially affects over 5 million customers. Here are some steps to take if you are worried your information has been leaked.

Hackers and scammers are continuously developing clever ways to defraud people of personal information and money. Following are tips to help you protect your personal information, accounts, and devices.

The loss of a spouse—whether due to death or divorce—is one of the most devastating experiences a person can face in life. While money cannot heal a broken heart, some planning and basic decisions can help spouses protect their financial interests and avoid short-term mistakes that can have long-term implications on their financial health.

When it comes to retirement planning, investing isn’t just about how much money you have to invest; it’s also about how much time you invest it. The earlier you start, the longer your money has the chance to grow.  

Enter the power of compound growth.

If you are trying to manage your money without a qualified financial advisor or wealth manager, you could be putting your money and your future at risk. Here are three reasons you need a financial advisor or wealth manager in the digital age.

When a wire transfer is initiated, the money is immediately withdrawn from the sender’s account and delivered to the receiving financial institution where it is deposited into the receiver’s account according to the instructions provided by the sender.

Cyber criminals are targeting businesses of all sizes with increasingly sophisticated attacks. At a minimum, consider these recommendations to help protect your business.

Today, more than ever, women have a vital role in the decision-making process about a family's wealth and finances, whether single or as part of a couple. From investing to financial management to retirement planning, here are five steps you can take to protect and grow your wealth—and better manage your financial future.

Email scams can have devastating consequences for your business, including loss of funds.

There are a variety of Cash Management Account tools that can help protect your business against fraud.

There are steps you can take to protect your business accounts from cyber criminals

Ransomware attacks have become more frequent. Protect your business.

Investors have already been on a wild ride in 2020 and are understandably bracing for the potential impact of the upcoming election on the stock market. If there is a dominant emotion on Wall Street around this election, its uncertainty.

The interest rate on your mortgage is an important consideration that has an impact on your monthly mortgage payment. Here are some other important factors to help you prepare to apply for a mortgage and avoid surprises.

A construction to permanent loan (sometimes also called a C to P loan) is designed to avoid the need for two separate loans when building a home.

Once you have your mortgage, it becomes an important component of your credit history, credit report, and ultimately your credit score.

Your credit score is an important factor used by lenders when you apply for a mortgage. Your credit score is a numerical value based on information in your credit report, which uses information from your credit history

What should you do if you are the victim of Unemployment Fraud? 

Learn how to keep yourself safe on social media. 

Learn how to keep yourself safe from online fraudsters. 

The Federal Deposit Insurance Corporation (FDIC) is a government organization that provides insurance on deposited funds in U.S. banks. 

The US Department of Housing and Urban Development (HUD) established criteria to help lenders identify first-time homebuyers for Federal Housing Administration (FHA) loan programs.

HEAT Loans are offered through Mass Save® and participating lenders, providing interest-free financing opportunities for energy-efficient home upgrades like heating and water heating equipment, insulation, central air conditioning, heat pumps, ENERGY STAR® qualified replacement windows, and more.