Learn how to set up alerts in our online banking demo.
Learn how to set up alerts in our online banking demo.
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Please contact a member of the Wealth Management Department if you have any questions about this information.
Rich Gartelmann CFP® – (630) 844-5730 rgartelmann@oldsecond.com
Jean Van Keppel CFA® – (630) 906-5489 jvankeppel@oldsecond.com
Brad Johnson CFA®, CFP® – (630) 906-5545 bjohnson@oldsecond.com
Joel Binder, SVP – (630) 844-6767 jbinder@oldsecond.com
Jacqueline Runnberg CFP® – (630) 966-2462 jrunnberg@oldsecond.com
Tamara Wiley, CFP® – (630) 844-3222 twiley@oldsecond.com
Ed Gorenz, VP – (630) 906-5467 ejgorenz@oldsecond.com
Visit Old Second Wealth Management
Non-deposit investment products are not insured by the FDIC; not a deposit of, or guaranteed by, the bank; may lose value.
Old Second Bank wants to make sure you have a worry-free home buying experience. We do that by being there to assist you through every step of the home buying process. Watch the video below to learn more!
Julie Perez, Vice President—Operations
Bryan Handell, Investigator—Aurora Police Department
As the banking industry continues to work to keep your accounts safe from would-befraudsters and scammers, here are nine tips we put together, with help from Investigator Bryan Handell of the Aurora Police
Department, to aid in protecting your personal information and financial accounts.
1. Monitor your accounts. Too many people never even open their bank or credit card statements to review activity in their accounts. The sooner you catch fraudulent activity, the sooner we can shut it down.
2. Look over your shoulder. Whenever providing information to a salesclerk or customer service representative or when keying it into an ATM, be wary of shoulder-surfers lurking nearby.
3. Carry only what you need. It’s rare that you would need to have your Social Security card in your wallet. If necessary, carry a photocopy with the last four digits blacked out.
4. Keep your eye on cash. In crowds, men are advised to keep their wallets in their front pockets. In bars and restaurants, women should resist the urge to sling their purses over the backs of chairs.
5. Be a good Samaritan, just not a naïve one. It’s natural to want to help, but it can be an intentional distraction to divert your attention away from a pickpocket taking advantage of the crowds at a concert, sporting event or any other busy event. Help, but stay aware.
6. Verify before you trust. It’s okay to provide personal information when you’ve called your credit card company or bank or logged on to their secure site. It’s not okay when the contact is unsolicited. Even a caller I.D. number can be manipulated—verify such calls independently.
7. Take your password protection seriously. Use a strong password, and don’t use it for everything or base it on information easily inferred from looking at your Facebook or LinkedIn pages.
8. Don’t toss—shred instead. Dumpster diving is a real thing, especially in areas with alleys or where garbage bins are left unsecure. Also, keep your papers, passwords and files out of sight. Financial fraud is often committed by those closest to us—a family member or friend who sees an opportunity and goes for it.
9. Educate your children. From naïve sources of personal information to easy targets for fast-money counterfeit check scams, kids and young adults can unintentionally sabotage their financial well-being and yours. Foster a greater sense of awareness and skepticism to help keep both their information and money safe as well as yours.
“The thing to remember is that criminals look for easy targets. By being aware and taking a few defensive moves, you can appear not to be worth the trouble,” advises Investigator Handell.
For more tips, check our website.
U.S. and World News
Markets
Economic Data
Fact of the Week
Please contact a member of the Wealth Management Department if you have any questions about this information.
Rich Gartelmann CFP® – (630) 844-5730 rgartelmann@oldsecond.com
Jean Van Keppel CFA® – (630) 906-5489 jvankeppel@oldsecond.com
Brad Johnson CFA®, CFP® – (630) 906-5545 bjohnson@oldsecond.com
Joel Binder, SVP – (630) 844-6767 jbinder@oldsecond.com
Jacqueline Runnberg CFP® – (630) 966-2462 jrunnberg@oldsecond.com
Tamara Wiley, CFP® – (630) 844-3222 twiley@oldsecond.com
Ed Gorenz, VP – (630) 906-5467 ejgorenz@oldsecond.com
Visit Old Second Wealth Management
Non-deposit investment products are not insured by the FDIC; not a deposit of, or guaranteed by, the bank; may lose value.
Learn how to transfer funds in our online banking demo.
U.S. and World News
Markets
Economic Data
Fact of the Week
Please contact a member of the Wealth Management Department if you have any questions about this information.
Rich Gartelmann CFP® – (630) 844-5730 rgartelmann@oldsecond.com
Jean Van Keppel CFA® – (630) 906-5489 jvankeppel@oldsecond.com
Brad Johnson CFA®, CFP® – (630) 906-5545 bjohnson@oldsecond.com
Joel Binder, SVP – (630) 844-6767 jbinder@oldsecond.com
Jacqueline Runnberg CFP® – (630) 966-2462 jrunnberg@oldsecond.com
Tamara Wiley, CFP® – (630) 844-3222 twiley@oldsecond.com
Ed Gorenz, VP – (630) 906-5467 ejgorenz@oldsecond.com
Visit Old Second Wealth Management
Non-deposit investment products are not insured by the FDIC; not a deposit of, or guaranteed by, the bank; may lose value.
Interest rates are at historical lows—you’ve probably heard this before. It’s still true, but sources indicate not for much longer. Even the U.S. Federal Reserve, which influences the direction of interest rates, has indicated rates will be going up.
If you are thinking about purchasing a home, buying before rates rise could lower your overall cost of ownership. Being able to lock in a low rate of interest lowers the amount of your monthly payment.
The current real estate environment has also created another factor those considering making the move to homeownership should be aware of—in some of the markets our bank serves, the selection of homes for purchase is much better than the selection of rental units.
Most homeowners are also able to deduct their mortgage interest on that home. There are no comparable deductions available to renters. Having access to this deductibility can significantly lower the after-tax costs of homeownership by lowering your income tax bill each year.
An additional advantage for home ownership is the opportunity it offers to build equity. You spend money on rent, but a mortgage payment represents both an expense (interest) and an investment in your asset (home equity). As equity builds, so does your personal wealth.
While the aspect of financial benefit figures significantly in the decision to buy instead of renting, homeownership also offers the ability to create a space of one’s own, to customize it to your liking and needs. And, it can provide stability, as well as a place you and your family can refer to as home for years to come.
If you do decide to take advantage of the current interest rate environment, it’s a good idea to “know” before you “go.” Visit your lender first to determine how much house you can afford so that you are only shown options in your price range. It helps make your decision and your home-buying experience go more smoothly.