All Bank of Ann Arbor offices will close at 5:00pm on Friday, December 31, 2010.  Offices will be closed on Saturday, January 1, 2011.  All will reopen on Monday, January 3 at their usual hours.

Happy New Year!

Michigan is a vibrant venue for business opportunity and innovation, and the Accelerate Michigan Innovation Competition has proven that. The Accelerate Michigan Innovation Competition is the largest business plan competition in the world. Designed to fuel entrepreneurial innovation-based business growth in our state by awarding companies and students more than $1 million in cash and in-kind services, software, and staffing, the competition received over 600 entries in total. Today, Dec. 9, marks the first of a three day conference that culminates on Saturday, Dec. 11 with a keynote address by Governor Elect Rick Snyder and the announcement of the top company winners.

The best and brightest new business concepts from local and global entrepreneurs will be presented at the three day conference, exposing those opportunities to potential investment capital and fostering their growth here in Michigan. The competition targets mid-to-late-stage business start-ups with potential to generate an immediate impact on our state's economy, as well as student concepts with longer-term business viability.

Bank of Ann Arbor is proud to sponsor this competition. Bank of Ann Arbor's Technology Industry Group helps new tech businesses in their efforts to become successful tech companies The Technology Industry Group is one of only a handful of banking groups across the country focused on providing loans and cash management services to small and mid-sized innovation based businesses. Its products and services are helping new economy businesses grow and create jobs for Michigan’s future. For more information, give Michael Cole or Mark Holtz a call at 734-662-1600.

On Saturday, December 4, 2010, Bank of Ann Arbor will be Rockin’ for the Hungry with Ann Arbor’s 107one.   If you’re a listener on 107.1fm you’ll be hearing some familiar BOAA voices talking about our part in this important food drive to stock the shelves of Food Gatherers.  A recent survey on hunger in Washtenaw County projects those who need food assistance will increase by 138% this year.  We would love to have you stop by Kroger on South Maple, next to the Westgate Shopping Center in Ann Arbor on Saturday, December 4 with a donation of nonperishable food items or money. Every contribution helps.

Linda Brewer #1

Linda Brewer #2

Michael Cole #1

Michael Cole #2

Patti Judson #1

Patti Judson #2

Rhonda Foxworth

The IC3 receives a high volume of complaints from victims of payday loan telephone collection scams. In these scams, a caller claims that the victim is delinquent in a payday loan and must repay the loan to avoid legal consequences. The callers purport to be representatives of the FBI, Federal Legislative Department, various law firms, or other legitimate-sounding agencies. They claim to be collecting debts for companies such as United Cash Advance, U.S. Cash Advance, U.S. Cash Net, and other internet check cashing services.

One of the most insidious aspects of this scam is that the callers have accurate information about the victims, including social security numbers, dates of birth, addresses, employer information, bank account numbers, names and telephone numbers of relatives and friends. The method by which the fraudsters obtained the personal information is unclear, but victims often relay that they had completed online applications for other loans or credit cards before the calls began.

The fraudsters relentlessly call the victim's home, cell phone, and place of employment. They refuse to provide to the victims any details of the alleged payday loans and become abusive when questioned. The callers threaten victims with legal actions, arrests, and in some cases physical violence if they refuse to pay. In many cases, the callers even resort to harassment of the victim's relatives, friends, and employers.

Some fraudsters instruct victims to fax a statement agreeing to pay a certain dollar amount, on a specific date, via prepaid visa card. The statement further declares that the victim would never dispute the debt.

These telephone calls are an attempt to obtain payment by instilling fear in the victims. Do not follow the instuctions of the caller.

If you receive telephone calls such as these, you should:

• Contact your banking institutions;
• Contact the three major credit bureaus and request an alert be put on your file;
• Contact your local law enforcement agencies if you feel you are in immediate danger;
• File a complaint at www.IC3.gov.