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!


Focus on the Fun with a Home Equity Line of Credit | It's Halloween (Planning) Season for Your Campground/RV Park | How Rising Interest Rates Are Impacting Homebuyers | What Are Contactless Cards and How Do They Work? | Teaching Your Teens About Money Management | The Common Element Among Unique and Successful Businesses | 'OUCH': Top Three Social Media Scams
Focus on the Fun with a Home Equity Line of Credit | Will Opening an IRA Help You Save Money on Taxes? | Utilizing Your Home's Equity | 4 Signs Your Identity May Have Been Stolen | Blackhawk Bank Welcomes Gale Price as Vice President Business Banking | 'OUCH': Learn a New Survival Skill:
Spotting Deepfakes
Are You Protecting Your Business From a Ransomware Attack? | What to Consider Before You Build Your Home | Focus on the Fun With a Home Equity Line of Credit (HELOC) | How to Protect Your Business From Check Fraud | Succession Planning | Use Your Blackhawk Bank Mastercard for a Chance to Win | 'OUCH': Anyone Can Start a Career in Cybersecurity 

What You Need to Know About Romance Scams | Enjoy Greater Peace of Mind With Watchdog Checking | Blackhawk Bank Welcomes Dan Garcia as Vice President Business Banking in the Kane County Market | Holiday Hours | Financial Advice to Help You Achieve Your Goals and Dreams | 'OUCH': Spot and Stop Messaging Attacks


Watch Out for Money Mule Scams | Give a Gift Card this Holiday Season! | Unfreezing Your Credit to Purchase a Home | Holiday Hours | 140th Anniversary are on Sale! | 'OUCH': Top Cybersecurity Tips for Vacations 

Blackhawk Bank Collects Over $17,000 During Annual Food Drive | 10 Ways to Help Create a Smooth Mortgage Closing | Top Tips for Avoiding Scams at the Holidays | Purchase a Gift Card for the Holidays | 'OUCH': Shopping Online Securely

Technology for the Future Workforce | 10 Ways to Help Create a Smooth Mortgage Closing | 15 Tips for Reducing Home Heating Costs | Blackhawk Bank Welcomes Jennifer Wagner | Blackhawk Bank Welcomes Kim Egger | 'OUCH': Avoid The Most Common Email Mistakes

Campground Ownership: 2021 & Beyond | Top Budgeting Myths | Blackhawk Bank Announces Partnership of Jared Fewell and Julia Fiorucci | Simplify Your Finances With Budgeting Tools |   'OUCH': One Simple Step to Securing Your Accounts

The State of Manufacturing | What First Time Homebuyers Need to Know About Down Payments | Zelle® at Blackhawk Bank | Brenten Witherby Joins Blackhawk Business Banking Team |
Josh Houghton Joins Blackhawk Business Banking Team | Closed for Labor Day | 'OUCH': Securely Using the Cloud
How Homebuyers Can Get a Winning Bid in a Competitive Market | Succession Planning for Local Businesses | Are You Using Digital Wallets? | 'OUCH': Securing Your Mobile Device 
Register for Pallet to Palate | Summer Camping Tips for Newbies | What Homeowners Need to Know About Solar Panels | We Will be Closed Monday, July 5th 2021 | 'OUCH': Securely Using Mobile Apps

What's the Difference Between Home Improvement Loans, Home Equity Loans and Home Equity Lines of Credit? | What is Treasury Management and How Can it Help my Business? | 'OUCH': Vishing - Phone Call Attacks and Scams

How to Build Positive Habits for Your Everyday Life | How to Teach Your Teens About Credit |
'OUCH': Privacy - Protecting Your Digital Footprint
140th Anniversary | Upcoming Webinar: 4 Steps to Building a Thriving Practice While Reducing Insurance Dependence | What Are Bridge Loans and How Do They Work | Budgeting for Soon-to-Be Parents | 'OUCH': Identity Theft - Protecting Yourself

What Buyers Need to Know About Home Appraisals | How Parents Can Keep Their Kids Safe Online | 'OUCH': I'm Hacked, Now What?

Announcing Treasury Management | Rachel Oracki Joins Blackhawk Bank's Mortgage Team | Building Patient Confidence During a Pandemic | New Year's Resolutions for Homebuyers |
'OUCH': Securing Wi-Fi at Home


Opting Out of Prescreen Offers | Importance of Cybersecurity Training for Employees | Be On the Lookout for Job Offer Scams | Happy Holidays! | 'OUCH': Securing the Generation Gap
How to Spot Unemployment Insurance Identity Theft | Holiday Budgeting & Spending | Protecting Your Business From a Ransomware Attack | Who Pays Closing Costs? | Customer Shout Out! | Happy Thanksgiving | 'OUCH': Social Engineering Attacks

Happy Veterans Day | Cybersecurity Awareness Month | Benefits of Applying for a Mortgage Through Blackhawk Bank | National Manufacturing Month | Preventing a New Kind of Burnout | Start Something Priceless - Stand Up to Cancer | 'OUCH': Fake News 

Tammy Fanning Joins Blackhawk Bank's Retail Team | Sara Reque Joins Blackhawk Bank's Mortgage Team | Watch Out for the COVID-19 Loan Relief Scam | Why Using a Local Lender Matters | Should Spouses Have Joint Checking Accounts | Online Learning Tips for a Successful School Year | 'OUCH': Online Security for Kids

Happy Labor Day | Is There a National Coin Shortage? | How Small Business Owners Can Avoid Burnout | What Homeowners Should Know About Property Taxes | Helping Parents Save for Their Child's College Education | Virtual Conferencing Safely & Securely
SBA PPP Loan Extension | safety Tips When Selling Your Home | 10 Reasons Why You Should Go Camping | 'OUCH': Ransomware

Happy 4th of July | What Can Community Banks Offer my Business That Others Can't? | Can I Still Buy a House In 2020? | New Hobbies, Quality Family Time, Zero Commutes: The Unexpected Benefits of Lockdown Life | 'OUCH': Creating a Cyber Secure Home 

4 Business Owners on How They're Reopening Their Businesses Post-Coronavirus | Buying a House Now vs. Later: Should You Wait? | 11 Ways to Instantly Become a More Positive Person | IRA vs. 401(k): Which One is Right for You? | 'OUCH': The Power of Updating

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


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 
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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 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. The Bank may require that an Account Holder make no more than six (6) transfers or withdrawals during any statement cycle from a Savings or Money Market Account.

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.


Mathew Reynolds
SVP Retail Banking

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