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Blackhawk Talk eNewsletter

Check out our monthly eNewsletter for need-to-know tips and other great info. The 'OUCH' Technology article is especially valuable for anyone who's active online or has gadgets connected to the Internet. Enjoy!
 

2020

New Look Coming for Online & Mobile Banking: May 15th-18th | Keeping Your Stimulus Check In-Check | How to Use Digital Wallets | 5 Ways to Manage Small Business Coronavirus Concerns When Employees Can't Work from Home | 10 Home Improvement Ideas Under $100 | 'OUCH': Password Managers
 
Online & Mobile Banking | What to Know About Coronavirus Cybersecurity Scams | The Federal Reserve & Mortgage Rates | Tax Day is Now July 15 | IL Governor Files for Administration Loans for Small Businesses | 'OUCH': Digital Spring Cleaning
 
Meet Blackhawk Bank's Spirit Award Winner | How Your Credit Score Affects Your Ability to Buy a Home | Fraud Alerts & Credit Freezes: What's the Difference? | 'OUCH': Social Media Privacy  
 
Financial Fitness | How to Recognize a Fake Check Scam | What is Employee Relationship Management? | 'OUCH': Digital Inheritance
 

2019

Happy Holidays! | Blackhawk Bank Welcomes Matt McDonnell as CFO | Windows 7 End of Life: Protect Yourself Against Security Threats | 4 Practical New Year Resolutions for Your Small Business | Get Your Money on Track in 2020 | 'OUCH': Messaging/Smishing Attacks
 
Happy Thanksgiving | 7 Ways to Avoid Holiday Financial Stress | Spotlight on Community Banking | 8 Tips to Help Protect Yourself Against Holiday Identity Theft | 'OUCH': Shopping Online Securely  
 
Happy Veterans Day | Blackhawk Bank Hosts Cybersecurity Seminar | Why Manufacturing Companies Need to Up Their Cybersecurity Game | 'OUCH': Four Simple Steps to Staying Secure
 
Jim Reynolds Earns New Designation | Economic Insight from Blackhawk Bank | Why Fall May Be the Best Time to Buy a Home | Venmo User's Transaction Information Up for Grabs | 'OUCH': Scamming You Through Social Media
 
Happy Labor Day | Phil Whitehead Earns New Designation | Identity Theft: An Overview on Staying Safe | Mortgage Originator Openings | Losing Lean Religion | 'OUCH': Got Backups? 
 
Why Cybersecurity Matters to Your Business | Mobile App Privacy Issues | Getting a Fair Appraisal for Your Home | 'OUCH': Virtual Private Networks (VPNs)
 
Happy 4th of July | What to Do When the Real Estate Market Has Low Inventory | What's the Next Big Challenge Facing Manufacturer's in the Stateline Area? | 'OUCH': Dark Web
 
Happy Memorial Day | Blackhawk Bank to Host Two Blood Drives | How Much Can Home Staging Boost Your Sale Price? | Build a Good Relationship With Suppliers | 'OUCH': A Career in Cybersecurity
 
The Power of Local Mortgage Servicing | How to Spend Your Tax Refund Money Wisely | Five Ways Smart Companies Maintain Growth & Profitability: Part 3 | 'OUCH': Making Passwords Simple
 
Illinois Governor Signs Bill Raising the Statewide Minimum Wage to $15 Per Hour | Bullet-Proof Your Homeowners Insurance | Five Ways Smart Companies Maintain Growth & Profitability: Part 2 | 'OUCH': Disposing of Your Mobile Device
 
Customer Appreciation Open House in Roscoe | Blackhawk Bank Recognizes Top Mortgage Producers | Five Ways Smart Companies Maintain Growth & Profitability: Part 1 | 'OUCH': Personalized Scams
 
Shopping for a Competent Tax Preparer | CFOs: Recession Possible in 2019 | Get Financially Fit This Year | 'OUCH': Search Yourself Online 

2018

December
Happy Holidays | McGovern Joins Blackhawk Bank as SVP & CFO 
Should I Sell My Home Now or Wait Until Spring | 'OUCH': Yes, You Are a Target
November
Happy Thanksgiving | Blackhawk Bancorp, Inc. Acquires First McHenry Corp.
Switching Accounting Methods Can Provide Instant Tax Savings for Manufacturers
Tips to Get Your House Ready for Winter | 'OUCH': Am I Hacked?
October
October is National Cybersecurity Awareness Month | 5 Easy Ways to Protect Yourself Online 
iPhone Users Beware | 'OUCH': Email Oops & How to Avoid Them
September
Blackhawk Bank Welcomes Tracy Girardi | Fee-Free Credit Freezes
Home Market Value vs. Assessed Value | 'OUCH': CEO Fraud/Business Email Compromise
August 
Celebrating Labor Day | Dry Up Your Wet Basement for Good! | Why are Vacations So Important
'OUCH': What are Smart Home Devices?
July
Temporary Extended Hours | Local Mortgage Servicing | What Rocks | Rick Bastian to Retire
The New Tax Plan: What You Need to Know | 'OUCH': Phone Call Attacks & Scams
June
The Power of 'And' | 10 Tips for a Smooth Closing | Interviewing Well | 'OUCH': Stop That Malware
May
Felony Lane Gang Returns to Southern Wisconsin | The Home Appraisal Process 
Strategic Workforce Planning Program: A Critical First Step of Workforce Optimization
What the Best Mentors Do | 'OUCH': GDPR
April
Preparing to Buy a Home: How to Raise Your Credit Score Fast
Part III: What the Heck is Bitcoin and How Does it Work? | Virtual Assistant Cortana is Helping Hackers
How to Ask for a Raise | 'OUCH': Stop that Phish
March
Blackhawk Bank Roscoe Office on the Move | Part II: What the Heck is Bitcoin and How Does it Work?Blackawk Bank Sponsors Quick Response Office Cells Workshop | 'OUCH': Using Social Media Securely
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Blackhawk Bank News

Keep up-to-date with all things Blackhawk Bank.

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Banking Basics

A common question bank account holders have is, “What do banks do with my money?” Since banks operate like a for profit business, they put the money loaned to them by their customers to work. Generally, banks make investments or loans using the money collected or borrowed from customers. For the privilege of using those dollars, the bank then pays an annual percentage yield (rate of return), or interest, to the deposit account holders. Most banks are insured by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency created by Congress and run by the government to maintain stability and public confidence in the U.S. financial system. Since its inception, no depositor has ever lost a penny of FDIC-insured funds. Coverage is automatic. The FDIC insures deposits up to $250,000 per depositor, per insured bank. Banks which are Members of the FDIC are undergo rigid operational safety and soundness audits and are examined for compliance with consumer protection laws on a frequent basis. So, if your bank is a Member of FDIC, you can rest assured that your funds are insured up to $250,000 per depositor, per insured bank. Learn all the details of FDIC Insurance here.

 

How do Checking Accounts Work?

A checking account holds your money, similar to a typical savings account. With a checking account, you can access the money for your everyday expenses like food, clothes, and other needs. Most checking account holders access their checking account fund through a debit card, ATM card, digital solutions or paper checks. The APY on checking accounts is lower than a savings account because this money doesn’t stay in place as long as savings. Customers are more likely to take this money out of their account sooner than a savings account in order to pay their bills or for daily life costs. If you want to learn more about different types of checking accounts, you can research several options here.

 

Savings Account Basics

A savings account holds the money you don’t plan to touch for a while. It can be money you intend to use to buy a high-ticket item, like a car, or simply money that you want to let sit in the bank and collect interest. Most Savings, Money Market Accounts and Certificates of Deposit produce an APY and they all vary in their terms and benefits. It’s best to consult with a banker about which type of account can help you reach your goals the best, but here is the difference in general terms.


Personal Savings Account Basics

A personal savings account is a standard account that lets you deposit your money for safe keeping. Regular deposits to a savings account pave the way to a solid financial future while putting your money to work in the meantime. Money deposited into your savings can be used by the bank to make investments and loans. Since you can withdraw the money at any time, the interest you make on your savings is relatively low. Generally speaking, the longer you keep your money deposited, the more interest you can earn.


Money Market Saving Information

Money Market Savings accounts allow you to make deposits anytime, for any amount. You typically can earn a higher APY and some money market accounts allow you to write checks right from your account. Money Market accounts have a higher minimum balance to open than a regular savings account, but keeps your money liquid, guarantees returns, is FDIC insured and is a convenient way to transfer funds to and from your checking account. Interest rates and annual percentage yields are variable and may change at any time. Federal law requires that an account holder make no more than six (6) transfers or withdrawals during any statement cycle.


Certificate of Deposit Basics

Certificates of Deposit (CD) accounts work a little differently. They offer interest rates based on the amount of time you leave your money in the bank. The longer the CD terms (ex- 7 months, 22 months, 35 months, etc.), the higher the interest rate you can earn. However, you must leave the money untouched until the term agreement is up. If you withdraw the money before the term expires, there is usually an early withdrawal penalty. CDs are intended for those with a saving goal in mind.


Blackhawk Bank offers reliable services and a range of account options that can fit any banking needs. To learn more about the account services we offer, contact us today for more information.

 


Locate a Blackhawk Bank location near you.

 

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