The holiday season often means shopping for gifts. Here are some tips to keep in mind when shopping online.
Banking 101: Simple and Compound Interest Explained
Interest is what a financial institution may pay when you deposit money in a savings account or certificate of deposit (CD) and what you pay to a lender when borrowing money or using a credit card. There are two common types of interest calculations used in banking – simple interest and compound interest.
Considering a Mortgage? Think Beyond the Rate to Avoid Surprises
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.
Banking 101: Credit Card Basics
A credit card is a plastic or metal card that lets you pay for goods or services using the credit card issuer’s funds with the promise that you will pay the card issuer later.
Banking 101: What is a Notary Public?
A notary public is a public official appointed by state government who verifies the authenticity of important transactions and serves as a witness to the signing of important documents.
Why Would Your Business Want a Banking Relationship?
Businesses require bank accounts of course, however, there are reasons why maintaining a true banking relationship has critical value to a business.
Glossary of Business Loan Terms
Brush up on business loan terminology with this glossary of terms.
Building Password Strength
A strong password is one of the best ways to defend your accounts and private information from hackers.
MassHousing Mortgage Programs FAQs
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.
Common Phone Scams on the Increase
Since the beginning of 2022, there has been a substantial increase in scams targeting unsuspecting victims through fake phone calls, text messages or emails.
Banking 101: What is FDIC Insurance?
FDIC Insurance protects bank depositors against the loss of their insured deposits in the event that an FDIC-insured bank or savings association fails.
Banking 101: What is a Money Market Account?
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.
Banking 101: What is a Safe Deposit Box?
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.
Banking 101: What are Overdraft and NSF Fees?
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.
Banking 101: What is a CD?
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.
Banking 101: What is a Joint Account?
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.
MassDREAMS is Available to Eligible First-time Homebuyers!
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.
Banking 101: What is a Checking Account?
A checking account is a common type of financial institution account designed for everyday use to deposit finds, make purchases, and pay bills.
Banking 101: Glossary of Banking Terms
Brush up on your Banking terminology with this glossary of terms.
Important Info Regarding Zelle® Payment Scams
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.
Protect Your Business Against Email Compromise
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.
What are Basis Points?
The term “basis points” comes up in discussions about interest rates. Here is a definition of what it is and why it is important.
What is a HELOC?
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.
Mortgages: What's a Point?
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.
What Financial Environmental Factors Affect Mortgage Rates?
The Fed Funds Rate, the Prime Rate, and the 10-Year Treasury Bond Yield play a role in the overall mortgage rate environment.
Speed Account Reconcilements with eStatements
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.
What Exactly is a Small Business?
The term is popular, but what exactly is considered a “small business”?
What is the ONE Mortgage program?
The ONE Mortgage affordable homeownership lending program offers an affordable program for first-time buyers through Massachusetts Housing Partnership.
Stay Alert for a Popular Phone Call/Text Scam
Scammers continue to develop ways to try and cheat you out of your money over the phone via calls or text messages.
What is Social Engineering?
Social engineering is the general term given to attempts by fraudsters to manipulate a victim into performing actions or divulging confidential information.
Glossary of Insurance Terms
Brush up on business insurance terminology with this glossary of terms.
What is Multi-Factor Authentication?
Multi-factor Authentication (MFA) refers to adding an extra step to the login process and is becoming more important for protecting systems.
Glossary of Cash Management Terms
Brush up on your cash management terminology with this glossary of terms.
What is a Business Line of Credit?
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.
What is Cash Management?
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.
What Types of US Small Business Administration Loans are there?
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.
What is an SBA Loan?
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.
DIY Financial Checkup
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).
Tips to Prevent Losses to Your Company Due to Electronic Transfer Fraud
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.
T-Mobile Data Breach – Steps to Take
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.
Tips to Protect Your Information, Accounts, and Devices
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.
Financial Life After the Loss of a Spouse
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.
Retirement Planning: Compounding and Saving for the Long Term
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.
Three Reasons You Need a Wealth Manager in the Digital Age
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.
You've Sent a Wire Transfer. Now What?
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.
5 Steps to Help Protect Your Business Accounts from Cyber Criminals
Cyber criminals are targeting businesses of all sizes with increasingly sophisticated attacks. At a minimum, consider these recommendations to help protect your business.
Women: 5 Ways to Protect and Grow Your Wealth
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.
Protect Your Business from Costly Email Scams
Email scams can have devastating consequences for your business, including loss of funds.
How to Reduce Fraud with Cash Management Banking Tools
There are a variety of Cash Management Account tools that can help protect your business against fraud.
Protect Your Business Accounts from Cyber Criminals
There are steps you can take to protect your business accounts from cyber criminals
Protect Your Business from Ransomware
Ransomware attacks have become more frequent. Protect your business.
How Will the Election Affect Your Investments?
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.
What is a Construction to Permanent Loan?
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.
Can My Mortgage Affect My Credit Score?
Once you have your mortgage, it becomes an important component of your credit history, credit report, and ultimately your credit score.
Can My Credit Score Affect My Ability to Get a Mortgage?
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 is a Credit History and How Do I Get One?
How Do I Improve my FICO® Credit Score?
Protecting Yourself from Unemployment Fraud
What should you do if you are the victim of Unemployment Fraud?
Social Media Safety Tips
Learn how to keep yourself safe on social media.
Fraud Awareness Tips
Learn how to keep yourself safe from online fraudsters.
Information About the FDIC
The Federal Deposit Insurance Corporation (FDIC) is a government organization that provides insurance on deposited funds in U.S. banks.
Who is Considered a First-Time Homebuyer?
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.