Does Your Child Need a Checking Account?

student-go-anywhere-checkingOpen a Student Checking or Go Anywhere Checking by the end of June for a Chance to Win!

Whether your child just has extra birthday money you’d like to save or they’re heading to college in the fall, it’s a smart move to open an account specifically for them that they can begin to learn money management skills. For those ages 14-17, we offer a Student Checking. This free account requires an adult co-signer and allows access to the account through online or mobile banking. A lower limit debit card is provided as well for everyday purchases and ATM access. If your child is 18 or older, we recommend the Go Anywhere Checking Account, which offers FREE unlimited ATM access so they don’t have to worry about ATM fees when trying to access their account when away from home. The minimum balance requirement is waived for those ages 18-23 and the account comes with online and mobile banking, as well as a Visa debit card and the ability to apply for a Visa credit card which is helpful for larger purchases.

Now through the end of June anyone who opens a Student or Go Anywhere account will be automatically entered to win one of two $50 iTunes or Google Play gift cards. Stop by any CNB office today to get started!

– See more at: www.cnbohio.com/AboutUs/CNBNews/family-financial-news/default.aspx

DocuSign – a Recent Phishing Scam

phishing computer data stealDocuSign, a reputable firm known for being the industry-leader in online documentation distribution and signing, was recently a victim of a phishing attack. During the week of May 8 and again the week of May 15, DocuSign detected an increase in phishing emails sent to some of its customers and users. The emails “spoofed” the DocuSign brand in an attempt to trick recipients into opening an attached Word document that, when clicked, installs malicious software. The emails may come from dse@docusgn.com or something similar and Subject Lines may reference a completed wire transfer or complete accounting invoice. The company was able to determine a third party had gained temporary access to their non-core system which allowed them access to email addresses for customers with DocuSign accounts. The good news is no names, physical addresses, passwords, social security numbers, credit card data or other information was accessed. The bad news is for those who received the spoofed emails, clicked on the link to open the Word document and allowed the macro to run. Their computers are now infected, limiting access to their information or they may even be asked to pay money to unlock access to their computer files.

This case once again highlights the importance of being wary of opening emails and especially clicking hyperlinks from within emails that you aren’t familiar with or weren’t expecting. Be sure to educate your family and employees about the possible consequences of clicking on the wrong link and encourage them to thoroughly review the email account it comes from, type the url for a link into a browser if possible vs. clicking on a link within an email and not opening attachments from sources they weren’t expecting to receive.

If you have a DocuSign account and would like to keep informed about the progress of the investigation, follow them on Twitter @askdocusign, or check out https://trust.docusign.com.

– See more at: www.cnbohio.com/AboutUs/CNBNews/security-bulletin/default.aspx

 

Belief from the Beginning…

A unique business idea turned into a booming business for Mark Bayus of M&M RV Electronics. He credits Citizens National Bank and his banker Pat Ryan for making his dream a reality. “He believed in me from the beginning. He shared my dream and that’s how I got to be where I’m at now.”

Have you ever wondered: “Am I really saving enough for retirement?”

Do you wonder how your retirement savings compare with others your age?

The average person in their twenties has around $16,000 in retirement savings.
The average person in their thirties has saved about $45,000.
Americans in their forties have median retirement savings of around $63,000.
Americans in their fifties have median retirement savings of about $117,000.
Americans in their sixties have median retirement savings of approximately $172,000.

Senior couple relaxing outsideYou may have saved much more – but have you really saved enough?

You may need to save more for retirement than you realize. It is very common for people to underestimate their retirement savings and retirement income needs. Whether you are 5 years or 35 years away from retiring, you need to be confident that you are doing the right things for your financial future – saving enough, investing what you save in a way that is appropriate for you, and managing risks to your savings.

Now is a great time to check and see if you are on track toward your retirement savings goal. Ask about setting an appointment with one of our Citizens Wealth Management financial advisors at any of our CNB offices so that we may quickly review how you are doing so far. If anything about your retirement saving or investing strategy needs adjusting, it is better to plan those adjustments now than to regret not making them later. Call 419-358-8060 ext. 153 or email cwmg@lpl.com to make an appointment.

Securities offered through LPL Financial, member FINRA/SIPC. Insurance products offered through LPL Financial or its licensed affiliates. The investment products sold through LPL Financial are not insured Citizens National Bank of Bluffton deposits and are not FDIC insured. These products are not obligations of Citizens National Bank of Bluffton and are not endorsed, recommended or guaranteed by Citizens National Bank of Bluffton or any government agency. The value of the investment may fluctuate, the return on the investment is not guaranteed, and loss of principal is possible.

– See more at: www.cnbohio.com/AboutUs/CNBNews/CNBConnection/Default.aspx

Recipe – Chicken Salad with a Twist

Chicken Salad

No bread needed.

6 ounce package corkscrew macaroni
½ cup Italian dressing
3 tablespoons lemon juice
1 medium onion, chopped
1 cup diced cucumber
salt and pepper to taste
3 cups cooked chicken
1½ cups mayonnaise
1 tablespoon prepared mustard
¾ cup ripe olive wedges
1 cup diced celery

Cook macaroni as directed on the package. Mix cooked chicken and Italian dressing with hot macaroni. Set aside to cool. Blend mayonnaise, lemon juice, mustard, onion, olives, cucumber, celery, and salt and pepper to taste. Add to cooled macaroni mixture. Mix well. Chill 2 hours or longer to blend flavors. Serves 4-8 people.

Recipe was submitted by Diane M. from our “Cooking It Up with CNB” recipe contest.

– See more at: www.cnbohio.com/AboutUs/CNBNews/CNBConnection/Default.aspx

 

Ask The Lender – Bridge Loans

Brent Kohn

Brent Kohn VP Loan Originator NMLS #554361

Spring is upon us and so is the search for that new home.

  • Are you tired of finding the perfect home for you and your family only to see it slip away at the last second because you need to sell your current home first?
  • Perhaps you are just dreaming about upgrading or even downsizing your current home but don’t think it is possible to buy a new home without selling your current home first?

If so, I want to let you know that your dreams can come true here at Citizens National Bank by taking advantage of a bridge loan. A bridge loan is a temporary note taken out against the equity in your current home. You are able to convert your home’s equity into cash to use for the down payment and closing costs of the new home you are trying to purchase.

Typically the bridge loan is written for a short period of time, usually 10-12 months. It is designed to “bridge” the gap between buying your new home and selling your current home. Often times you are required to pay interest only on the bridge loan on a monthly basis. Once your existing home sells, the bridge loan is paid off and any remaining proceeds from the sale are distributed to you. You can even use the bridge loan to pay off your existing first mortgage loan to get rid of that higher monthly obligation. This would allow you to temporarily keep your monthly obligations as low as possible on your current home while taking out a traditional mortgage and principal and interest payments on the new home.

Factors to consider when looking into a bridge loan are:

  • Are you willing to take on the additional monthly obligation on both homes? Even though the payment is just interest only and is relatively small in comparison to a traditional loan, are you willing to make those payments on both homes?
  • Can you qualify to make both payments on both homes with your current income?
  • Do you have enough equity in your current home to take out a bridge loan? Typically lenders want to see that you have at least 20-25% equity left after you take out a bridge loan.
  • Are you willing to pay the costs of an appraisal, title search, recording fee, etc for a temporary bridge loan? How important is it to you to not lose out on the purchase of the new home?
  • How quickly are homes selling in your area? You don’t want to take out a temporary bridge loan and not have your home sell in 10 months. If this happens then you are faced with the additional cost of “renewing” your bridge loan for an additional term.

A bridge loan is a great product to use to help make your dreams come true, but it may not be for everybody. Consult with your Citizens National Bank loan officer to find out if a bridge loan is right for you.

Health Care Costs in Retirement – Free Seminar

Medicare_Header_0417Deborah Boisselle, VP Investments of Citizens Wealth Management Group, Featured Speaker

With health care spending projected to grow 5.8% annually, health care costs remain the largest threat to retirement savings. Deborah Boisselle, VP Investments of Citizens Wealth Management Group will present a free seminar to the public in order to help gain a better understanding of:

  • Coverage options including Medicare
  • Health care costs in retirement
  • Steps you can take to develop a plan with your financial advisor.

Seminars will be held at the following locations. Refreshments will be served at each.

  • Tuesday, May 16, 6:00 pm, Holiday Inn Express, 941 Interstate Dr, Findlay
  • Wednesday, May 17, 6:00 pm, Holiday Inn & Suites, 803 S. Leonard Ave, Lima
  • Thursday, May 18, 6:00 pm, Stone Ridge Golf Club, 1553 Muirfield, Dr., Bowling Green

Ms. Boisselle has worked in the financial services industry since 1985 and has worked for LPL Financial since 1996. LPL Financial is one of the leading financial services companies and the largest independent broker/dealer in the nation. Citizens National Bank partners with them to offer wealth management and investment services to its clients.

Registration is free, however RSVP is required. Call 419-358-0937 or email kimberly.swank@lpl.com by May 12.

To learn more, visit https://cnbohio.com/investments/.