Sunday, March 18, 2012: Bank of Ann Arbor's President & CEO Tim Marshall announces that during the week of March 19-24 all Bank of Ann Arbor offices will collect financial donations (cash and checks) for the American Red Cross of Washtenaw County to be directed to support relief efforts in Dexter. Bank of Ann Arbor is helping with a contribution of $5,000. To learn how Washtenaw Country American Red Cross is helping, visit their web site at www.wc-redcross.org.

Nashville, Tenn. (March 14, 2012)—The Independent Community Bankers of America (ICBA) today honored three community banks that have demonstrated outstanding customer service with the 2012 ICBA National Community Bank Service Awards. The three community bank award recipients were announced during ICBA’s 2012 National Convention and Techworld® in Nashville, Tenn. The ICBA National Community Bank Service Awards bring national recognition to the unparalleled contributions community banks make to help build sustainable communities. The awards are given annually to community banks that show longstanding commitments to community outreach and development.

“ICBA founded the National Community Bank Service Awards program to help celebrate the outstanding volunteer efforts of the nation’s community banks, which exist to serve the needs of their customers and communities each and every day,” said incoming ICBA Chairman Jeffrey L. Gerhart, chairman of Bank of Newman Grove, Newman Grove, Neb. “This year’s award recipients exemplify what community bank service is all about. We commend them for giving their time, expertise and resources to better their communities and the lives of local residents.”

ICBA is pleased to honor the following community banks with the 2012 ICBA National Community Bank Service Awards:

Grand National Award:

• Wyoming Bank & Trust in Cheyenne, Wyo.

National Award:

• For banks with assets over $500 million: Bank of Ann Arbor in Ann Arbor, Mich.
• For banks with assets under $500 million: Bryant State Bank in Bryant, S.D.

Honorable Mentions:

• The Bank of Oswego in Lake Oswego, Ore.
• Northeast Community Bank in White Plains, N.Y.
• First State Bank of Joplin in Joplin, Mo.
• Bankers Trust in Des Moines, Iowa.
• Village Bank in Midlothian, Va.
• Katahdin Trust Company in Houlton, Maine.

As the Grand National award recipient, Wyoming Bank & Trust is being recognized for its “Honor Flight Wyoming” program, which was launched in 2008 for the purpose of getting local World War II veterans to Washington, D.C., so they could see the new World War II memorial. The organization has had six flights from Wyoming and raised more than $626,000 from private donors, which has resulted in flying 679 World War II veterans and 358 Guardians and staff to Washington, D.C. Tom Bass, president of the Wyoming Bank & Trust, is a vice president of the Honor Flight Wyoming organization and one of its founding board members. Wyoming Bank & Trust also participates in several other community service projects throughout the year, including lining the streets of Cheyenne with American flags during the fourth of July and sponsoring an annual coat drive called “Warm Up Wyoming.”

Bank of Ann Arbor was named as a National Award recipient in recognition of its “Sweet 15” social media charity campaign. To commemorate the bank’s 15th birthday, “Sweet 15” mobilized the power of social media by attracting 17,000 people to direct $75,000 of the bank’s money to 15 local nonprofit organizations. During the campaign, the bank’s Facebook page gained over 16,000 new “likes” and created over 3.5 million impressions, which created significant awareness for local nonprofits. President and CEO Timothy Marshall threw his wholehearted support into the effort, encouraging all employees and friends to join the campaign. The enthusiasm and passion displayed by the community for the local nonprofits was overwhelming and benefited local nonprofits, such as Humane Society of Huron Valley, Down Syndrome Support Team, Friends of Fiddlers Restrung, the Neutral Zone and many more.

Bryant State Bank was named as a National Award recipient in recognition of its community development program. As Bryant, S.D.’s largest full-time employer, WW Tire, a tire retail, wholesale and recapping manufacturing company, faced a dilemma: the company had outgrown its facilities and needed to expand, but there were no suitable building sites in the community that had both the space and the infrastructure to meet the needs of the expanding business. The business began to explore options of moving the expansion to a larger community outside the area, which would have a devastating impact on the community. This is when President Jeff Davis, President and Chairman Lee Jacobson, of Bryant State Bank stepped in. Instead of letting opportunities go elsewhere, Bryant State Bank’s donation of more than 200 hours and over 40 percent staff involvement expanded job opportunities, increased public funds and enhanced the community for generations to come. In addition, the project facilitated future growth opportunities for another business, and building plans are underway.

Learn more about these banks’ unparalleled acts of community service and the ICBA National Community Bank Service Awards at www.icba.org.

Bank of Ann Arbor's "Non-local banks think" advertising campaign is featured on The Financial Brand, a web site that reaches 40,000 financial marketing professionals across the country. Read the story here.

Each year millions of senior citizens are victimized by financial fraud or theft of money, property or valuable personal information. Often, an adult child or other relative is responsible. Other situations may involve trusted individuals such as caregivers, legal guardians, investment advisors or new “friends.” And because the types of abuse may differ widely, it’s important to take a variety of precautions. Here are suggestions for protecting yourself and your loved ones:

Choose an advisor carefully. If you’re considering hiring a new broker, attorney, accountant or other professional, even someone recommended by a friend or relative, it’s best to independently look into that person’s background and reputation before investing money or paying for services. For example, you can confirm that this person is properly registered or licensed and has a clean record with regulators and other consumers. When in doubt about how to research this information, ask your state Attorney General’s office or local consumer protection agency for guidance.

Make sure you not only understand the role an advisor will be playing, but trust that this individual will do what’s best for you and your finances. Don’t be afraid to ask questions or say no. After all, it’s your money!

Be careful with powers of attorney. At some point, you may want to have a power of attorney, a legal document that authorizes another person to transact business on your behalf. While powers of attorney can be very helpful, be careful who you name as your representative. “Powers of attorney can be easily misused because they allow the appointed person to step into your shoes and do everything you can do, including taking money from your account and borrowing money in your name,” warned Debi Hodes, an FDIC Consumer Affairs Specialist. “This is a matter to discuss with a lawyer who should prepare or review the document for you.”

Protect your personal financial information. Never give out your bank account numbers, Social Security numbers, PINs (personal identification numbers), passwords or other sensitive information unless you initiate the contact. These requests may come from an unsolicited phone caller, letter writer, e-mailer or a person who shows up at your door. Be especially wary of someone who congratulates you about winning a (bogus) prize or lottery but first demands payment for taxes or other fees.

Also, keep your checkbook, account statements, and other sensitive information in a safe place. And shred paper documents containing sensitive information that is no longer needed.

Closely monitor your credit card and bank account activity. Review your account statements as soon as you receive them and look for unauthorized or suspicious transactions, which should be reported to your bank immediately.

Take your time when deciding on a major financial decision or investment. Make sure you understand the transaction and ask questions if you don’t. If you need to, ask a lawyer or financial advisor to help you understand the documents and discuss what’s best for you. “Walk away from anyone who says you must make a decision or otherwise do something right now,” said Hodes.

Be aware of scams involving reverse mortgages. These loans enable homeowners age 62 or older to borrow money from the equity in their homes. However, reverse mortgages can be complex products with a variety of risks and costs, and there are many reports of schemes by unscrupulous individuals using deceptive offers and high-pressure tactics to steer senior citizens into using the funds from a reverse mortgage for inappropriate or costly loans or investments. For guidance on the responsible use of a reverse mortgage, including how to locate a lender or a housing counselor approved by the U.S. Department of Housing and Urban Development’s Federal Housing Administration, start at www.hud.gov/offices/hsg/sfh/hecm/rmtopten.cfm or call 1-800-569-4287.

Finally, here are additional tips:

• Beware of callers asking for money or information. If you’d like to reduce the number of telemarketing calls you receive, consider signing up for the national Do Not Call Registry (call 1-888-382-1222 or visit www.donotcall.gov). If you are on this list, be suspicious of calls from any company or organization that you have reason to believe is not eligible to contact you under the registry’s rules.
• Don’t comply with requests from strangers to deposit a check into your account (perhaps as part of an Internet sale) and wire some or all of it back. “If you send the money and the check is counterfeit, you may be held responsible by your financial institution for the losses,” said Michael Benardo, Chief of the FDIC’s Cyber-Fraud and Financial Crimes Section.
• If you use social media, many security experts advise against posting the names of relatives and anyone’s home address, full date of birth and daily activities because those can be valuable to a thief. “A scam on the rise involves con artists who look for personal information on the Internet that they can use to call or e-mail an elderly person and pretend to be a relative in distress — such as a grandchild being injured, in jail or lost in a foreign country — and needing money sent fast, without telling anyone else in the family,” added Benardo. “They may also represent themselves as a lawyer or law enforcement agent needing money to help your relative.”

To learn more about common frauds targeting seniors, start at the FBI’s Web page at www.fbi.gov/scams-safety/fraud/seniors. For more guidance on protecting against a variety of schemes, see back issues of FDIC Consumer News (online at www.fdic.gov/consumernews) and visit www.mymoney.gov/category/topics/scams/-fraud.html. 

This article from FDIC's Winter 2012 Consumer News.