If you receive a call or text from RCB Bank requesting information of any kind, hang up and call your local branch or a verified RCB Bank phone number. We will be closed on Monday, May 25th in honor of Memorial Day. Click here for a list of all holiday closings.
Fraud attempts are on the rise, and scammers are getting more creative every day. At RCB Bank, your security is our top priority. Below are some important reminders to help keep your personal and financial information safe.
We Will Never Call and Ask for Your Personal Information Scammers are posing as bad actors of legitimate companies. One recurring scam we have identified is an increase in individuals posing as RCB Bank representatives and informing customers of alleged fraudulent activity to obtain sensitive information, such as login credentials, granting unauthorized access to accounts.
If you receive a phone call asking for your Social Security Number, full debit card number or other sensitive information, it is not us. We already have your information on file and will never ask you to provide it over the phone.
If you’re unsure whether a call is legitimate, hang up and call us directly at 855-226-5722.
Do Not Click on Suspicious Links–Check the Communication Thoroughly Fraudsters often send emails or text messages with links that look legitimate but lead to fake websites. Clicking these links can expose your personal information or install malware on your device.
If you are not expecting a message or if when you hover over it, it looks unusual, do not click on it. Go directly to the company’s official website by typing the address into your browser.
Fraudulent emails and texts also often have subtle linguistic and formatting clues that can help you spot them. Excessive or unusual punctuation, poor grammar or awkward phrasing, urgent or threatening tones and inconsistent branding are all signs of fraudulent communications. Only click on links from sources that you can verify. If it feels wrong, it most likely is.
Debit Card Safety Your debit card is a direct link to your account. Keep it safe by doing the following:
Never share your PIN or card details with anyone.
Monitor your account regularly for unauthorized transactions.
Set up alerts for purchases and withdrawals.
Verify Websites Before You Enter Any Information When searching online for a company, take precautions in ensuring you are on their verified website. Scammers often create fake websites that look like the real thing.
Always check the web address (URL). Official sites typically start with “https://” and may end in trusted domains like “.gov” for government websites or “.bank” for financial institutions.
Avoid clicking on advertisements or sponsored links when searching—type the official site address directly or use bookmarks of verified sites.
Look for spelling errors or unusual layouts, which can be signs of a fake site.
Continue Education Fraud tactics change constantly. Stay informed by visiting our Security Center or by following updates from trusted sources like the Federal Trade Commission (FTC). The more you are aware of evolving fraud tactics, the safer you will be.
If something feels off, trust your instincts. Contact us immediately at 855-226-5722 if you suspect fraud or have questions about your account.
Prompt Reporting: If you feel you have fallen for a scam or suspect your accounts or identity have been compromised, report the incident immediately. RCB Bank customers can contact us at 855-226-5722 during business hours Monday – Friday 8:00 a.m. – 6:00 p.m. excluding Federal Holidays or visit the RCB Bank Security Center website for detailed information. Need to contact RCB Bank Fraud Department on the weekend? Contact us at 877-361-0814 Saturday 8:00 a.m. – 4:00 p.m. CST or Sunday 8:00 a.m. – 12:00 p.m. CST (excluding Federal Holidays).
Contact other reliable sources such as the FBI and file a complaint at ic3.gov to contribute to efforts against these fraudulent activities.
Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.
Toll tag text fraud is on the rise, targeting unsuspecting drivers across the United States. Scammers send fraudulent text messages claiming unpaid tolls and demanding immediate payment to avoid penalties. These messages often include links leading to phishing websites designed to steal personal and financial information, such as credit card details or driver’s license numbers. Authorities, including the FBI and Federal Trade Commission (FTC), have issued warnings about this deceptive practice, urging vigilance among consumers. [1] [2] [3]
The scam typically creates urgency, threatening late fees or legal consequences if payment isn’t made promptly. This tactic aims to pressure recipients into acting without verifying the legitimacy of the message. However, legitimate toll agencies like TxTag and PikePass confirm they do not use text messages for payment requests. Instead, they communicate through official channels such as email or their websites. [1] [4] [5]
To protect yourself, avoid clicking on suspicious links or sharing personal information via text. Verify any toll charges directly with your toll agency using trusted contact details. Additionally, report fraudulent texts to authorities, such as the FTC’s Report Fraud website or your local law enforcement agency. Deleting these messages after reporting is also recommended. [2] [5]
As toll scams continue to evolve, staying informed and cautious is essential. By recognizing red flags and following safety measures, you can safeguard your identity and finances against these increasingly common schemes. [1] [3] [6]
Prompt Reporting: If you feel you have fallen for a scam or suspect your accounts or identity have been compromised, report the incident immediately. RCB Bank customers can contact us at 855-226-5722 during business hours Monday – Friday 8:00 a.m. – 6:00 p.m. excluding Federal Holidays or visit the RCB Bank Security Center website for detailed information. Need to contact RCB Bank Fraud Department on the weekend? Contact us at 877-361-0814 Saturday 8:00 a.m. – 4:00 p.m. CST or Sunday 8:00 a.m. – 12:00 p.m. CST (excluding Federal Holidays).
Contact other reliable sources such as the FBI and file a complaint at ic3.gov to contribute to efforts against these fraudulent activities.
Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.
The increasing accessibility of artificial intelligence (AI) tools has made it easier for scammers to create deepfakes that are difficult to distinguish from genuine content. This poses a significant challenge for individuals and organizations trying to protect themselves from these sophisticated attacks. Deepfake technology is powered by AI and has become a significant threat for 2025, enabling scammers to create convincing fake videos and audio.
These scams target individuals and businesses, exploiting human vulnerabilities rather than technical flaws. Deepfakes have been used in a variety of scams, including impersonation attacks where criminals mimic executives or employees to authorize fraudulent transactions. In some cases, these scams have resulted in millions of dollars in losses. Similarly, romance scams and phishing schemes have adopted deepfake technology to manipulate victims into sharing sensitive information or transferring money.
To safeguard against deepfake scams, experts recommend several strategies.
First, limit the amount of personal information shared online, as this can be used to create convincing fake content.
Second, verify any suspicious communication through trusted channels, such as directly calling the person or organization involved before acting.
Third, use detection tools designed to identify manipulated audio or video content.
For businesses, investing in advanced cybersecurity measures like real-time AI detection systems and conducting employee training on spotting swindles is essential.
It is also recommended to use the “3A” approach: assess the message, analyze audio-visual elements for inconsistencies and authenticate the source.
As this technology continues to evolve, staying vigilant and informed is critical to protecting yourself from its misuse.
Prompt Reporting: If you feel you have fallen for a scam or suspect your accounts or identity have been compromised, report the incident immediately. RCB Bank customers can contact us at 855-226-5722 during business hours Monday – Friday 8:00 a.m. – 6:00 p.m. excluding Federal Holidays or visit the RCB Bank Security Center website for detailed information. Need to contact RCB Bank Fraud Department on the weekend? Contact us at 877-361-0814 Saturday 8:00 a.m. – 4:00 p.m. CST or Sunday 8:00 a.m. – 12:00 p.m. CST (excluding Federal Holidays).
Contact other reliable sources such as the FBI and file a complaint at ic3.gov to contribute to efforts against these fraudulent activities.
Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.
As the holiday season approaches, scammers are gearing up to exploit your generosity through charity fraud. Don’t let these Grinches steal your holiday spirit or your hard-earned money. Here’s how to protect yourself from charity scams this season.
First, be wary of high-pressure tactics. Legitimate charities won’t rush you to donate immediately. Take your time to research before giving. Use trusted resources like BBB’s Wise Giving Alliance or Charity Navigator to verify the organization’s legitimacy[1].
Pay attention to how they ask for donations. Red flags include requests for cash, wire transfers or gift cards[3]. These payment methods are hard to trace and favored by scammers[1].
Second, be cautious of charities with names similar to well-known organizations. Scammers often use this trick to appear credible. Double-check the charity’s name website and contact information carefully[3].
Don’t let emotions cloud your judgment. While heart-warming stories can be compelling, resist the urge to donate on the spot. Legitimate charities will appreciate your donation just as much tomorrow or next week[1].
Third, watch out for unsolicited emails or text messages claiming to be from delivery services about incoming or missed packages. These are often phishing attempts to steal your personal information[2].
Remember you can use the IRS Tax Exempt Organization Search tool to verify if an organization is a legitimate tax-exempt charity[3]. Never share personal information like your Social Security number with someone soliciting donations.
By staying vigilant and doing your homework you can ensure your generosity reaches those truly in need this holiday season. Don’t let scammers dampen your holiday spirit – give wisely and safely.
Prompt Reporting: If you feel you have fallen for a scam or suspect your accounts or identity have been compromised, report the incident immediately. RCB Bank customers can contact us at 855-226-5722 during business hours or visit RCB Bank Security Center website for detailed information. Need to contact RCB Bank Fraud Department on the weekend? Contact us at 877-361-0814 Saturday 8:00 a.m. – 4:00 p.m. CST or Sunday 8:00 a.m. – 12:00 p.m. CST (excluding Federal Holidays).
Contact other reliable sources such as the FBI and file a complaint at ic3.gov to contribute to efforts against these fraudulent activities.
Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.
Cryptocurrency, or “crypto,” has surged in popularity, with digital currencies like Bitcoin gaining widespread use. However, this popularity has also made it a target for scammers, leading to consumers losing over $1 billion to crypto scams in the first half of 2022, as reported by the Federal Trade Commission (FTC).
The appeal of crypto for scammers lies in its decentralized nature, the irreversible nature of transactions and the general lack of understanding among most people about how crypto operates. The absence of a centralized authority to flag suspicious transactions makes it an attractive playground for fraudsters.
Scammers employ various methods to initiate contact with potential victims, such as email phishing, SMS text messages (smishing), phone calls, packages and social media. They often use personal information to target victims or even imitate someone known to the victim. One common tactic is to promise unrealistically high returns on crypto investments.
The process involves instructing victims to convert US dollars into Bitcoin and send it to a specific digital address, frequently using Bitcoin ATMs for the transaction. Once the funds are transferred, the irreversible nature of crypto transactions leaves victims with no recourse.
To avoid falling victim to crypto scams, consumers are advised to exercise caution when dealing with cryptocurrency transactions. Running transactions through professionals like banks, CPAs or tax professionals can help verify legitimacy. Additionally, individuals should not send money on behalf of others and extra scrutiny is needed for checks received via non-USPS mail services.
If a situation seems suspicious, consulting trusted advisors is crucial. Scammers often employ tactics like repeated contact, harassment and pressure to prevent victims from seeking advice or reporting the situation to authorities.
In case you have already fallen victim to a scam, steps can be taken to mitigate further harm. Victims should contact the FBI through ic3.gov to report identity theft, reach out to the bank’s fraud department, and remain vigilant against future scam attempts.
Overall, the rise in crypto popularity has brought about a parallel surge in scams, making it imperative for consumers to educate themselves, exercise caution and seek professional advice before engaging in cryptocurrency transactions.
As winter approaches and holiday travel plans take center stage, winter wanderers must be on high alert for potential scams lurking in various forms. From deceptive emails to cunning calls and enticing social media posts, scammers are ramping up their efforts to exploit the joyous spirit of the season. Here’s how to navigate the winter wonderland of travel without falling prey to fraud.
Social Media
Social media, a hub for festive cheer, is also a breeding ground for travel scams. Criminals imitate well-known hotels and resorts online, but their sites include misleading information, such as fake hyperlinks and phone numbers. Eager holiday-goers may find themselves making payments for dream getaways that exist only in the virtual realm leaving them empty-handed and out of pocket.
Robocalls
Robocalls, often associated with automated holiday greetings, can also mask sinister intentions. If your phone rings with an automated message, especially regarding travel, the safest bet is to hang up promptly. Legitimate travel agencies steer clear of robocalls, making them a clear red flag for potential scams.
Allow your winter travel experiences to be filled with pleasure and amazement, rather of the traps of frauds. Stay vigilant, stay informed, and ensure your winter holidays are as magical as they should be.
Booking Sites Before booking winter travel offers, diligent research on the company is essential. While reviews and ratings provide insights, individual needs differ. Beware of seemingly irresistible deals, such as complimentary airline tickets, as scammers use these as bait to hook unsuspecting victims.
Cancellation Policies
Protect your winter escapades by always securing a receipt and understanding cancellation policies before confirming any reservations. Having these policies in writing serves as a crucial record should disputes arise later.
Wi-Fi Connections
As snow blankets landscapes, scammers attempt to cover their tracks with fraudulent schemes. Regularly monitor your financial accounts for any suspicious activity. Embrace the convenience of online banking but do your best to steer clear of public Wi-Fi networks that could compromise your security. Because they are vulnerable, public Wi-Fi networks present a serious threat. Visit RCB Bank Online Banking Tools here.
Planning a winter getaway? Alert your bank in advance. Provide details about your destinations and travel dates to ensure smooth financial transactions without unexpected disruptions.
Should the unfortunate happen and you find yourself entangled in a travel scam, swift action is imperative. Contact our RCB Bank support team at 1.855.226.5722 on weekdays between 8:00 a.m. and 6:00 p.m. CST. For weekend assistance, dial 1.877.361.0814 on Saturdays from 8:00 a.m. to 4:00 p.m. and Sundays from 8:00 a.m. to 12:00 p.m. (excluding Federal Holidays). Additionally, contribute to combating fraud by filing a complaint with the FBI at ic3.gov.
Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.
As the real estate market continues to evolve, prospective homebuyers are faced with various choices and decisions. One of the pivotal considerations in the homebuying process is understanding the distinction between Mortgage Pre-Approval and Pre-Qualification. To shed light on this often-confusing subject, experts weigh in to help homebuyers make informed decisions.
Mortgage pre-approval and pre-qualification are frequently used interchangeably, but they carry different implications and serve distinct purposes in the home financing journey. According to financial experts, the differences lie in how thoroughly each process is evaluated.
Mortgage Pre-Qualification
Mortgage pre-qualification is the preliminary step in the home loan process. It involves a basic assessment of an individual’s financial situation based on self-reported income, debts, and credit. Lenders use this data to provide a rough estimate of the loan amount a borrower might be eligible for. It’s a valuable starting point for those beginning their homebuying journey, offering a snapshot of their financial capacity.
Mortgage Pre-Approval
On the other hand, mortgage pre-approval is a more comprehensive and rigorous process. It requires potential homebuyers to submit detailed financial documentation, including income verification, credit history, and other relevant information. The lender then conducts a thorough analysis to determine the exact loan amount a buyer qualifies for. A pre-approval holds more weight in the eyes of sellers, as it signifies a buyer’s seriousness and financial capability. Experts emphasize the importance of obtaining a mortgage pre-approval before house hunting in today’s competitive real estate market. Pre-approval simplifies the homebuying process and gives buyers an edge in a seller’s market.
While both pre-qualification and pre-approval have their place in the home financing process, understanding the key differences empowers buyers to make informed decisions aligned with their unique circumstances. As the real estate landscape evolves, education remains a powerful tool for aspiring homeowners navigating the path to homeownership.
Schedule an appointment with an RCB Bank Mortgage representative today for more information while you search for your dream home.
Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. Offer available for most purchases and refinances. With approved credit on RCB Bank Mortgage secondary market loans locked between October 1, 2023 and December 31, 2023. Must meet minimum loan and program underwriting requirements. Lender credit must be used toward borrower closing costs. Not redeemable for cash or down payment funds. This offer is not valid with any other RCB Bank Mortgage incentives, promotions or discounts. OHFA Bond and 5/5 ARM products are not eligible for promotional credit. This offer is subject to change or terminate without notice. Other loan terms and restrictions apply. RCB Bank is an Equal Housing Lender. NMLS #798151 and Member FDIC
As we conclude October’s Cybersecurity Month, it is essential to reinforce the importance of safeguarding both yourself and your financial institution, such as RCB Bank, against the ever-present threat of phone-based social engineering. This form of cybercrime preys on trust and human vulnerability, making it crucial for individuals and institutions to stay vigilant.
Here are some final tips to keep in mind:
Verify Identities: When receiving phone calls requesting sensitive information, always take the time to verify the caller’s identity. Do not be hasty in sharing personal or financial details. To ensure that you are speaking with a legitimate representative, consider calling back using official contact details that you obtained independently from trusted sources.
Educate Yourself and Others: Knowledge is a powerful weapon against social engineering. Stay informed about common tactics employed by cybercriminals who aim to deceive you over the phone. Share this knowledge with friends and family to create a network of individuals who are equally vigilant. Protecting your circle can go a long way in thwarting potential threats.
Enable Multi-Factor Authentication (MFA): One of the most effective ways to enhance the security of your personal accounts is by enabling Multi-Factor Authentication (MFA). MFA adds an extra layer of protection by requiring more than just a password for access. Whenever possible, activate MFA on your accounts to make it significantly harder for cybercriminals to breach them.
Exercise Caution Online: Be cautious about sharing personal information on social media or other online platforms. Cyber attackers often exploit the information they collect from platforms such as Facebook, Instagram, LinkedIn, and others to craft convincing schemes. Protect your personal data online to make it more challenging for malicious individuals to target you.
Report Suspicious Calls: If you ever receive a suspicious phone call related to your RCB Bank account(s), it is imperative to report it promptly to RCB Bank. You can reach us at 855.226.5722. Timely reporting of such incidents can help the bank take action to protect your accounts and investigate potential threats.
Phone-based social engineering is a persistent threat that preys on trust and human vulnerability. By understanding the tactics used by attackers and remaining vigilant, you can protect both yourself and your financial institutions. Remember that skepticism is a valuable defense, and it is essential to prioritize your security over convenience when dealing with phone calls from unknown or suspicious sources. Cybersecurity is a shared responsibility and staying informed and cautious is key to defending against these threats.
Cybersecurity is a shared responsibility. By staying informed, you can enhance your digital defenses and protect yourself from the evolving landscape of cyber threats. Remember, vigilance is your greatest asset in the battle for digital security.
If you feel or think you detect fraud or are a victim of fraud call us at 855.226.5722 or visit our website RCBBank.Bank and click on Security Center for a variety of methods to keep you and your money safe and to stay up to date.
Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.
Our phones have evolved beyond mere communication devices, transforming into powerful tools for social engineering. Phone-based social engineering is a sophisticated threat that manipulates individuals into revealing confidential information or engaging in actions that compromise security. Recognizing the warning signs of these deceptive tactics is crucial to safeguard your personal and financial information.
Unsolicited Calls: One of the primary red flags is receiving unsolicited calls, especially from unknown numbers. These calls often involve requests for sensitive information or demands for immediate action. Scammers count on the element of surprise and pressure, making it essential to approach such calls with caution. Always verify the caller’s identity before sharing sensitive data or complying with their demands.
Urgency and Fear Tactics: Scammers are adept at creating a sense of urgency or fear, which puts their victims on the defensive. They aim to coerce individuals into making hasty decisions by inducing panic or stress. In these situations, taking a moment to pause and assess the call’s legitimacy is paramount. Legitimate organizations don’t resort to fear tactics to obtain your information.
Caller ID Spoofing: Another technique cybercriminals use is caller ID spoofing. Attackers can manipulate caller IDs to make it seem like they are calling from a trusted source, such as a bank or government agency. As such, never rely solely on caller ID information to determine the authenticity of a call. Always ask questions and verify the caller’s credentials independently.
Information Verification: Beware of callers who ask for personal or financial information over the phone, even if they claim to represent a legitimate organization. Legitimate institutions will typically offer alternative means of communication or verification. Only disclose your information over the phone if you know the caller’s identity.
Inconsistencies: Inconsistencies within the call, such as contradictory information or a caller who avoids answering direct questions, are often clear indicators of a scam. If something feels off during the conversation, trust your instincts. Cybercriminals rely on confusion and misdirection to achieve their goals.
Cybersecurity is a shared responsibility. By staying informed, you can enhance your digital defenses and protect yourself from the evolving landscape of cyber threats. Remember, vigilance is your greatest asset in the battle for digital security.
If you feel or think you detect fraud or are a victim of fraud call us at 877.361.0814 or visit our website RCBBank.Bank and click on Security Center for a variety of methods to keep you and your money safe and to stay up to date.
Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.
In the digital age, deception has evolved into an artform, and phone-based social engineering has emerged as one of its most cunning creations. Deceptive tactics employed by these attackers often involve the impersonation of trusted entities or individuals to gain the trust of their unsuspecting victims. Let’s take a deeper dive into the intricate web of deception that these cybercriminals create.
Phishing Calls: Scammers are masters at deception who frequently disguise themselves as legitimate institutions such as banks or government agencies. Armed with a persuasive tone and a knack for manipulation, they call individuals with the intention of extracting sensitive information like Social Security numbers and credit card details. These calls, seemingly benign at first, can lead to disastrous consequences, with personal finances hanging in the balance. Phishing – What is it?
Vishing (Voice Phishing): Vishing is the darker, vocal sibling of phishing. Criminals employ a range of tactics in this malicious endeavor. They might deploy pre-recorded messages that demand immediate action or pose as authoritative figures like IT support or even law enforcement. The intention is to confuse individuals into revealing personal information or coercing them into transferring their hard-earned money into the pockets of these unscrupulous characters.
Pretexting: For attackers, crafting convincing backstories or pretexts is second nature. Impersonating a coworker in need of information for a supposed work-related task, these criminals exploit human empathy and trust. The victims, never suspecting the deceit, end up divulging sensitive data that can be exploited to the attacker’s advantage.
Impersonation: Some of these fraudsters take their deception to the next level, going to great lengths to mimic voices, mannerisms, and emotional tones. They may pose as a distressed family member or a colleague urgently seeking assistance. These emotionally charged calls prey on the victim’s sense of responsibility and sympathy, leading them down a treacherous path of deception.
Spear Phishing: In targeted attacks, these cybercriminals invest time in researching their victims. Armed with an extensive dossier, they craft highly personalized messages or calls. These communications reference specific events, acquaintances or people in the victim’s life, making them appear incredibly legitimate. This personalized touch elevates the deception to an entirely new level.
The world of phone-based social engineering is fraught with danger, where trust is leveraged as a weapon and deception reigns supreme. It’s imperative for individuals to remain cautious and verify the authenticity of callers before divulging any sensitive information, for the art of deception knows no bounds in the digital realm. A Word of Caution About Fraud
Cybersecurity is a shared responsibility. By staying informed, you can enhance your digital defenses and protect yourself from the evolving landscape of cyber threats. Remember, vigilance is your greatest asset in the battle for digital security.
If you feel or think you detect fraud or are a victim of fraud call us at 877.361.0814 or visit our website RCBBank.Bank and click on Security Center for a variety of methods to keep you and your money safe and to stay up to date.
Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.
In today’s digital age, the term “cybersecurity” has become synonymous with safeguarding our digital lives. It’s the shield that guards our critical systems and sensitive information from the relentless onslaught of digital threats. Cybersecurity is the practice of protecting critical systems and sensitive information from digital attacks. These attacks can take many forms, ranging from identity theft to sophisticated scams. Understanding these threats is the first step in fortifying your digital fortress.
One of the most horrendous forms of cyberattacks is identity theft. This occurs when someone wrongfully obtains and uses your personal information, often for financial gain. Criminals may make unauthorized credit card transactions, apply for loans in your name and social security number or commit other fraudulent activities. To shield yourself from these threats, consider the following precautions:
Be vigilant: Never share personal information with unknown callers, texters, or email Verify the legitimacy of any organization before disclosing sensitive data.
Strong passwords: Avoid easily guessable passwords, such as family names or pet names. Opt for complex combinations of letters, numbers, and symbols. Refrain from writing down or storing passwords electronically, as lost devices could compromise your security.
Social media caution: Beware of oversharing on social media, as personal information gleaned from your profiles can be used against you. Visit: Online Quizzes
Regular credit checks: Obtain your free annual credit report to ensure its accuracy and detect any suspicious activities early.
Scams come in various disguises, from romance and gift card scams to fake home repair offers and even imposters posing as trusted institutions like your bank. Here’s how you can avoid falling prey to scams:
Verify charitable events: When approached with requests for donations or assistance related to disasters, always seek more information and ensure the legitimacy of the cause.
If it sounds too good to be true: Apply the age-old adage. If an offer seems suspiciously generous or unrealistic, it probably is.
Beware of contingencies: Never accept funds or sweepstakes winnings that require you to send money back. Legitimate winnings and gifts do not come with such conditions.
Cybersecurity is a shared responsibility. By staying informed and following these guidelines, you can enhance your digital defenses and protect yourself from the evolving landscape of cyber threats. Remember, vigilance is your greatest asset in the battle for digital security.
Visit our Security Center for a variety of methods to keep you and your money safe and to stay up to date.
Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.
Sources: Delesline, N., & Carlton, G. (2022, June 2). What, exactly, is cybersecurity? and why does it matter?. ZDNET. https://www.zdnet.com/education/computers-tech/what-is-cybersecurity-and-why-cybersecurity-matters/
The phone has become more than just a communication tool; it has become a powerful instrument for social engineering. Social engineering via phone involves manipulating individuals into revealing confidential information or performing actions that compromise their security.
The Art of Deception
Phone-based social engineering relies heavily on deception. Attackers often impersonate trusted entities or individuals to gain their target’s trust. Here are some common tactics they employ:
Phishing Calls: Scammers often pose as legitimate organizations, such as banks or government agencies, and call individuals to extract sensitive information like Social Security numbers or credit card details.
Vishing (Voice Phishing): Vishing involves manipulating victims through voice calls. Criminals may use pre-recorded messages or impersonate authority figures, like IT support or law enforcement, to trick individuals into revealing personal information or transferring money.
Pretexting: Attackers create convincing backstories or pretexts to manipulate victims into disclosing information. For instance, they might pose as a coworker seeking information for a work-related task.
Impersonation: Some attackers go to great lengths to mimic the voices and mannerisms of others. They may impersonate a family member in distress or a colleague in urgent need of assistance.
Spear Phishing: In targeted attacks, criminals research their victims to craft personalized messages or calls. These calls may reference specific events or people in the victim’s life, making them appear more legitimate.
Recognizing the Red Flags
Protecting yourself from phone-based social engineering begins with recognizing the warning signs:
Unsolicited Calls: Be cautious of calls from unknown numbers, especially if they request sensitive information or demand immediate action.
Urgency and FearTactics: Scammers often create a sense of urgency or fear to pressure victims into complying. Always take a moment to verify the caller’s identity.
Caller ID Spoofing: Attackers can manipulate caller IDs to appear as if they are calling from a trusted source. Never rely solely on caller ID information.
Information Verification: Be wary of callers who ask for personal or financial information over the phone, even if they claim to represent a legitimate organization.
Inconsistencies: If something about the call feels off, such as inconsistent information or a caller who avoids answering questions directly, it may be a red flag.
Protecting Yourself and The Bank
To safeguard against phone-based social engineering:
Verify Identities: Always verify the caller’s identity before sharing sensitive information. Call back using official contact details obtained independently to ensure you’re speaking with a legitimate person.
Educate Yourself: Stay informed about common social engineering tactics and be vigilant. Share this knowledge with friends and family to protect them as well.
Enable Multi-Factor Authentication (MFA): Whenever possible, enable MFA on your personal accounts to add an extra layer of security.
Use Caution Online: Be cautious about sharing personal information on social media or other online platforms, as attackers may use this information against you. Be aware that attackers utilize information they gather from FaceBook, Instagram, LinkedIn, and other social media platforms.
Report Suspicious Calls: If you receive a suspicious call for your RCB Bank account(s), report it to RCB Bank’s Fraud Department immediately. (1)877.361.0814
Phone-based social engineering is a potent threat that preys on trust and human vulnerability. By understanding the tactics used by attackers and remaining vigilant, you can protect yourself. Remember that skepticism is a valuable defense, and always prioritize your security over convenience when dealing with phone calls from unknown sources.
For more information on fraud and scams please visit our Security Center to stay up to date.
Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.
Sources: Risukhin, A. (2023, May 9). Social Engineering: What it is and how to protect yourself. ClearVPN. https://clearvpn.com/blog/what-is-social-engineering/
Refinancing your mortgage can be a tempting option for homeowners looking to lower their monthly payments or take advantage of lower interest rates. However, like any financial decision, there are pros and cons to consider before making the leap.
One of the biggest advantages of refinancing your mortgage is the potential to save money. If you can secure a lower interest rate than what you currently have, you could significantly reduce your monthly mortgage payments. This can free up extra cash that can be used for other expenses or savings. Additionally, refinancing can also allow you to switch from an adjustable-rate mortgage to a fixed-rate mortgage, providing stability and predictability in your monthly payments.
Another benefit of refinancing is the opportunity to tap into your home’s equity. If you’ve built up equity over time, refinancing can allow you to access that money for home improvements, debt consolidation, or other financial needs. This can be especially useful if you have high-interest debt that you want to consolidate into a lower-interest mortgage.
On the flip side, there are also some drawbacks to consider when refinancing your mortgage. One of the main cons is the cost associated with refinancing. Closing costs, appraisal fees, and other expenses can add up, making refinancing a costly endeavor. It’s important to carefully calculate whether the potential savings outweigh the upfront costs.
Another potential downside is the extended loan term that often comes with refinancing. While this can lower your monthly payments, it also means that you’ll be paying off your mortgage for a longer period of time. This can result in paying more interest over the life of the loan, even if you secure a lower interest rate.
Lastly, refinancing may not be an option for everyone. Lenders typically require a certain credit score and income level to qualify for refinancing. If your financial situation has changed since you initially obtained your mortgage, you may not meet the necessary criteria to refinance.
To summarize, refinancing your mortgage can offer significant benefits such as lower monthly payments, access to home equity, and financial flexibility. However, it’s important to carefully weigh the potential savings against the upfront costs and extended loan terms. Additionally, not everyone may qualify for refinancing, so it’s crucial to assess your financial situation and consult with a mortgage professional before making a decision.
Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. With approved credit. For specific questions regarding your personal lending needs, please call RCB Bank at 855-BANK-RCB. Some restrictions apply. RCB Bank is an Equal Housing Lender, NMLS #798151 and Member FDIC.
In today’s digital age, technology has become an integral part of our lives, revolutionizing the way we work, communicate and even manage our finances. From mobile banking apps to budgeting tools and investment platforms, technology offers a plethora of opportunities to enhance our financial well-being.
Embrace Mobile Banking
Gone are the days of standing in long queues at the bank. RCB Bank mobile banking has made it incredibly convenient to manage your finances on the go. With just a few taps on your smartphone, you can check your account balance, transfer funds (RCB Bank’s OneWayPay, Bank to Bank Transfers), pay bills and even deposit checks. It not only saves time but also allows you to keep a close eye on your transactions, ensuring better financial control and security.
Harness the Power of Budgeting Apps
Budgeting is a crucial aspect of financial fitness and technology has made it easier than ever. Along with RCB Bank’s myCardswap, and other numerous budgeting apps, such as Mint and YNAB (You Need a Budget), are available to help you track your expenses, set savings goals, and monitor your progress. These apps provide visual representations of your spending habits, offer personalized insights, and send alerts to help you stay within your budget. By using these tools, you can make smarter financial decisions and achieve your financial goals faster.
Automate Your Savings
Saving money consistently can be challenging, especially when it requires manual effort. However, technology has introduced automated savings tools that make the process effortless. Automatic transfers to savings with RCB Bank’s myClickSwitch as well as apps such as Mint and YNAB analyze your spending patterns. By leveraging this technology, you can effortlessly build an emergency fund, build investment and save for long-term goals without even realizing it.
Explore Investment Platforms
Investing was once considered a complex and intimidating task, but technology has democratized the investment landscape. Online investment platforms offer easy access to various investment options, including stocks, bonds, mutual funds, and exchange-traded funds (ETFs). With user-friendly interfaces, educational resources, and automated portfolio management, these platforms have made investing more accessible and transparent, empowering individuals to grow their wealth.
Leverage Online Marketplaces
If you have unused items lying around, technology has made it effortless to declutter and make some extra money. Online marketplaces such as eBay, Amazon, and Facebook Marketplace provide platforms for selling used goods. You can easily create listings, reach a wide audience, and receive payments securely. By selling items you no longer need, you not only declutter your living space but also generate additional income.
Utilize Comparison Websites
Whether you’re looking for insurance or credit cards technology has simplified the process of comparing various financial products and services.
In an era defined by technological advancements, it is crucial to embrace the tools and platforms available to enhance our financial fitness. By leveraging mobile banking, budgeting apps, automated savings tools, investment platforms, online marketplaces and comparison websites, we can optimize our financial management, save time, increase our savings and make smarter financial decisions. However, it’s important to remember that while technology can be a powerful ally in achieving financial fitness, it should be used responsibly. Stay vigilant about online security, keep your personal information secure, always research and verify the credibility of the apps and platforms you choose to use.
Dive in and harness the power of technology to gain better control over your finances. By doing so, you’ll be well on your way to achieving your financial goals and securing a brighter future.
Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.
Sources:
FinanceBuzz. (2023, May 4). Best budgeting apps [2023]. FinanceBuzz. https://financebuzz.com/budgeting-apps
Tepper, T. (2023, July 5). 5 best investment apps of July 2023. Forbes. https://www.forbes.com/advisor/investing/best-investment-apps/
In the journey toward financial fitness, it’s important to recognize that everyone makes mistakes. We’ve all had our share of financial ups and downs, and dwelling on past financial problems can hinder our progress. The key to achieving true financial well-being lies in embracing a ‘forgive and forget’ mindset. By learning from our past mistakes and letting go of any lingering guilt or regret, we open the door to a brighter future. In this article, we explore the transformative power of ‘forgive and forget’ when it comes to our personal finances.
Embrace Forgiveness
Forgiving yourself for past financial missteps is crucial for your mental and emotional well-being. Self-sabotaging thoughts about your financial past will prevent you from moving forward. Accept that mistakes happen and understand that they are opportunities for growth. Embrace the mindset that forgiveness is not about excusing your actions but about releasing yourself from the burdens of guilt and shame.
Remember that you are not alone in experiencing financial challenges. Many successful individuals have faced similar struggles and managed to bounce back. Oprah Winfrey, one of the world’s most influential women, encountered numerous financial setbacks in her early career but persevered and achieved remarkable success. Learn from these stories and realize that forgiveness paves the way for a fresh start.
Learn from Your Mistakes
While it’s important to forgive, learning from your past financial mistakes is equally crucial. Take the time to reflect on what went wrong and identify the factors that contributed to your financial difficulties. By understanding the root causes, you can develop strategies to avoid repeating those same mistakes in the future.
Consider seeking financial education and guidance to enhance your knowledge and skills. Learn about budgeting, investing and other essential financial concepts. The more you educate yourself, the better equipped you’ll be to make informed decisions and mitigate future financial risks.
Letting Go of Regret
Forgiving yourself also means letting go of regret. Regretting past financial decisions only consumes your energy and prevents you from moving forward. Instead, focus on the present moment and the steps you can take to improve your financial situation. Create a realistic plan to address your current financial goals and commit to it with determination and discipline.
Developing a positive mindset is essential in your financial journey. Surround yourself with supportive individuals who believe in your ability to achieve financial success. Engage in activities that bring you joy and reinforce your sense of self-worth. By cultivating a positive outlook, you’ll be better equipped to face future challenges and make sound financial choices.
Create a Fresh Financial Narrative
Forgiveness and forgetting your past financial problems allow you to create a fresh narrative for yourself. Rather than defining yourself by past mistakes, focus on the future and the potential for growth and success. Visualize your desired financial future, set clear goals and take actionable steps to achieve them.
Remember that building financial fitness takes time. Stay committed and celebrate each small victory along the way. By cultivating resilience and determination, you’ll be well on your way to financial well-being.
In the quest for financial fitness, forgiving yourself and forgetting your past financial problems are essential steps toward creating a brighter future. Embrace forgiveness, learn from your mistakes and let go of regret. By doing so, you will develop a positive mindset and create a new narrative that focuses on growth, resilience and success. Remember, your past does not define you. Your ability to forgive and move forward will shape your financial well-being and lead you toward a prosperous future.
Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.
Online quizzes sure seem like innocent fun. But before you take that next personality test, quick survey or “find out what type of BLANK you are” quiz, ask yourself: Do I know who’s gathering this information about me – and what do they plan to do with it?
The more information you share on these quizzes, the more you risk that information being misused, the Federal Trade Commission stated earlier this month.
A lot of the times, these quizzes and/or surveys will ask questions similar to the questions that are asked on online account security. Scammers can post a seemingly innocent quiz, then use your quiz answers to try and reset your online accounts, letting them steal your bank and other account information, the FTC warns.
One major way to protect your personal information — in addition to maintaining strong passwords and using multi-factor authentication — is to steer clear of online quizzes … or just don’t answer them truthfully, the FTC advises.
Another type of online quiz to be on the lookout for are quizzes that offer prizes for completion.
These quizzes may look official, giving gift cards as prizes to some of your favorite online establishments. And once you finish the quiz, you’ll be sent to a page where you are to enter your personal information so that the scammers can send you or award you your prize.
Once they have your personal information, coupled with some of the answers that were provided on the quiz, scammers can wreak havoc before you even know what happened.
If you suspect that an online quiz is a phishing scam, tell a friend. Then, report it to the FTC at ReportFraud.ftc.gov.
Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.
It’s almost the new year, which means it’s time for new year’s resolutions. According to a survey by Statista, financial goals are one of the top 5 areas where Americans wish to focus on improving.
If improving your finances is an area in which you’d like to focus, here are some ways in which that could be obtained.
Start a financial journal. If you keep track of every penny you spend, you may see things on paper that you don’t notice day to day. Keeping a journal will make you more mindful of where your money goes.
Starting a journal will help you if you want to organize your finances. Organizing your finances can reduce stress by showing you where you stand financially and can help you start a path to financial success.
Reduce your debt. Paying down your debt always is a good place to start with a new year’s resolution. Your debt-to-income ratio plays an important part in your finances, so finding a strategy to eliminate your debt can be a great boost to your financial well-being.
Improve your credit score.Improving your credit score can make it easier for you to get approved for loans and lines of credit, and even lower interest rates. A person with a higher credit score can save thousands of dollars over the course of their life than someone with a low score.
Making financial resolutions can help you make 2023 the best ever and even more enjoyable beyond that. Whether you want to reduce debt or save money, you can build financial security by setting these types of resolutions.
Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.
In today’s technological climate, manually balancing your checkbook with pen (or pencil) and your register likely has gone the way of the dodo bird.
But, knowing exactly what comes out and goes into your checking account not only is one of the best ways to combat fraud, it can give you a true idea of where your money is going and of your spending habits.
Most of your transactions and account information likely is readily available to you anytime in both your banking app and when you access your online banking account. You may even have a budgeting app linked to help you keep track of your expenses. So it may seem pointless or even redundant to keep track and balance your expenditures.
But with so many transactions these days, it’s easy to forget about one that hasn’t cleared your account yet. So if you regularly log all of your transactions, you always will know exactly how much money truly is in your account – to the exact cent.
And best of all, it doesn’t take long to learn, but it will require diligence on your part.
First, you should determine your account’s balance. Try to avoid using your debit card and writing checks for a couple of days to avoid any transaction-clearing lag. After waiting a few days, log into your banking app or online banking account to check your balance. Cross-reference the balance displayed against any automatic withdraws or outstanding checks. For instance, if your balance is $850.67, but you wrote a check to pay a water bill for $49.47, ensure that check has cleared. Otherwise, you’ll need to subtract the $49.47 from the $850.67 displayed balance.
Once you have determined your true balance, now, it’s just a matter of simple math. Just update your balance in your checkbook register by keeping track of each withdrawal and deposit as they occur. This includes debit card transactions as well as checks and automatic payments, as well as your payroll deposits if you have direct deposit.
Once you start logging each transaction, you can cross-reference to what posts to your account. You can either wait until you receive your monthly statement, or you can check daily or every other day, denoting each transaction in your ledger that clears and ensuring the totals match.
By keeping a running total of your transactions, your balance should match the balance on the statement. If the balances don’t match, check your register to see if a transaction has not been processed, if the bank has a record of a transaction that you do not have recorded in your register (then check this transaction to ensure it’s one you recognize or simply forgot to log) or if the amount of one of the transactions differs from what you registered.
If the balances still do not match, check your register and receipts against the record from the bank. Also check for any mathematical mistakes in your register (math mistakes happen to all of us!). If you believe an error has occurred, contact your bank.
Despite checkbooks and checks becoming more obscure in today’s technological landscape, having a handle and knowing just how much money is in your account always will be the most important tool you can have in your financial toolbox and is key to your financial health.
Tracking your transactions keeps you keenly aware of just how much money you have, helps you detect problems and, most importantly, allows you to plan ahead financially.
Financially Fit is your home fitness guide for all things financial, provided by RCB Bank. Find money-building tips, insights and inspiration to help you improve your financial well-being at RCBbank.com/GetFit. Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. Member FDIC.
As inflation continues to rise in the first half of 2022, consumer debt is rising right along with it, according to the Federal Reserve System’s consumer credit report released on Aug. 5.
Consumer debt in the United States is nearly $3.4 trillion, according to the Fed. That is approximately $10,600 of debt for every man, woman and child living in the United States.
Staring at a mountain of debt is daunting. But with proper discipline – and a lot of hard work – you can eliminate your debt.
If you’d like to learn how, read on for these tips on how to greatly reduce and eventually get out of debt.
Know What You Owe and Track Your Spending
You can’t get out of debt if you don’t know where your money is going.
The first step toward taking control of your financial situation is to do a realistic assessment of how much money you take in and how much money you spend, according to Federal Trade Commission.
Start by listing your income from all sources. Then, list your “fixed” expenses — those that are the same each month — like mortgage payments or rent, car payments, and insurance premiums. Next, list the expenses that vary — like groceries, entertainment, and clothing. Writing down all your expenses, even those that seem insignificant, is a helpful way to track your spending patterns, identify necessary expenses, and prioritize the rest.
Change Your Routines
It’s important to account for every penny earned and spent. Most people are shocked at the amount of money spent monthly on fast food lunches, coffee shops and online purchases. Small expenses add up.
By changing your habits – packing a lunch instead of eating out or brewing coffee at home or drinking from the “office pot of coffee,” you can quickly accumulate “extra” money in your budget.
Then you can take those savings and make a debt payment immediately. The instant gratification of seeing balances fall can be extremely motivating.
Tackle Your Debt
Small debt victories likely will make you feel good and motivate you to continue. But you must find a strategy that is right for you, according to the Consumer Financial Protection Bureau. The CFPB even offers a worksheet to help.
Here are the two methods the CFPB recommends. Both strategies have their pros and cons, the CFPB says.
Snowball Method – Tackle one debt at a time.
List all debts in order from smallest to largest.
Pay minimum payment on all debts while throwing as much money as possible to the smallest debt (for example, the money saved by changing your routines.)
After the smallest debt is paid, move on to the next smallest debt until debt free.
Highest Interest Rate Method – Pay a little more than the minimum payment on all debts.
Pay the minimum balance on each debt.
Take extra money and apply it to the debt with the highest interest rate.
Pay off debts in order from highest to lowest interest rates.
Don’t Take on More Debt
You cannot borrow your way out of debt. Low-interest payments and credit cards may indeed be a good deal, but you should work toward paying down what you currently owe before adding any new debt.
It’s important to try to make paying off your debt a top priority, because the way that you manage your credit could determine how much access you have to it in the future. Don’t be afraid to talk to a banker or a financial professional for suggestions on ways to attack your debt situation.
Financially Fit is your home fitness guide for all things financial, provided by RCB Bank. Find money-building tips, insights and inspiration to help you improve your financial well-being at RCBbank.com/GetFit. Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. Member FDIC.
Recently there has been a rise in email fraud where a scammer poses as a major retailer, luring unsuspecting people with claims that an expensive purchase was made by them. The email will give a number to call if the email recipient doesn’t recognize or wants to dispute the purchase.
This is a common phishing scam. The scammer simply wants you to call the number, and that’s when they’ll try to get information out of you.
Once the scammers get you on the phone, they’ll sound official. They may ask who you bank with. They’ll ask you for your account number and passwords.
Don’t fall for it. Do not give any personal information once they ask for it, no matter how official they sound. If they ask for access to your computer or mobile device, hang up!
There will be several red flags to look for if you receive such an email:
The email address won’t have the business’s name or domain.
There will be spelling and grammar errors in the email.
When hovering over links, the displayed website doesn’t direct to the business.
It may look like a reply to an email you never sent.
The business logos and images are blurry.
Don’t just call a number you receive in an email without researching the phone number first. Review your accounts to see if any unauthorized charges were made. If you don’t see any charges that are mentioned in the email, it’s very likely a scam.
If you believe you’ve been scammed, call your bank’s fraud department. You also can report fraud to the FTC at https://reportfraud.ftc.gov/.
Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.
As the world continues to move more toward digital transactions, more and more businesses and organizations utilize digital payment methods. Digital payments have boomed since the start of the COVID-19 pandemic because of their flexibility and ease of use.
But as more digital payment processing companies begin to emerge, scammers adapt. A new scam that has been on the rise is a micro-deposit scam.
Micro-deposits are small amounts of money – generally under $1 – that are transferred from one account to another. They typically come in pairs and in separate amounts, usually coming within three days of linking accounts. The purpose of micro-deposits is to verify if the account on the receiving end is the account that is intended to be linked to the depositing account.
So far, everything described is common when linking accounts.
But how micro-deposit scammers operate is by linking online accounts with strings of random numbers, just hoping to get a valid bank account. When a deposit is verified from a bank account, the fraudsters will use information about the account holder to withdraw funds from their account.
The best way to combat this type of fraud is to monitor your account regularly. If you notice a micro-deposit, DO NOT verify it if you didn’t initiate it and DO NOT click on any links that are embedded in a verification request message or download any attachments in a verification email.
If you’ve been the victim or a target of a micro-deposit scam, contact your bank to ensure it won’t happen again. And then contact the Federal Trade Commission at https://reportfraud.ftc.gov/.
Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.
Spring traditionally is a time of regrowth, new life and budding. You may get the itch to deep clean and organize your house.
And while you’re at it, you should consider a “spring cleaning” of your mortgage as well. These tips could lead to saving money, so take the time to look to see if any of these situations apply to you.
Private Mortgage Insurance
Private Mortgage Insurance, known as PMI, is required on some loans. If you started your loan with PMI, it will fall off once you reached the date when the principal balance of your mortgage is scheduled to fall to 78 percent of the original value of your home. This date should have been given to you in writing on a PMI disclosure form when you received your mortgage. If you can’t find the disclosure form, contact your servicer. Also, if your home has increased in value since you purchased it, your Loan to Value (LTV) ratio may be at a point to discontinue your PMI early. You can request this from your lender and they would determine with an updated evaluation of your home with an appraisal. Discontinuing your PMI can free up some extra money each month if this applies to you.
Insurance
Check to see if your homeowner’s insurance policy has risen, and shop around for a lower rate. Getting a quote costs no money. Are you bundling your home and auto policies? Most insurance carriers offer a discount for bundling policies. It’s a good idea to get quotes to see if there’s savings of which you weren’t aware. Also check to see if your agent might have you over-insured. Lowering your policy to what you only need vs. more than you need could lower your cost as well.
Tax refund
If you receive a tax refund, consider using it as an additional payment toward the principal of your mortgage. Making one additional monthly payment a year can shave up to four years off your mortgage!
Refinancing
Now is a good time to think about refinancing your home. If you’ve owned your home for awhile and don’t plan on moving anytime soon, refinancing likely will save you a significant amount of money. In some cases, refinancing to a 15-year mortgage will make more sense.
Lenders at RCB Bank are happy to help answer questions even if you are not a customer. Give us a call or visit our online Mortgage Center.
Opinions expressed above are the personal opinions of RCB Bank personnel and meant for generic illustration purposes only. With approved credit. For specific questions regarding your personal lending needs, please call RCB Bank at 855-BANK-RCB. Some restrictions apply. RCB Bank is an Equal Housing Lender and member FDIC. RCB Bank NMLS #798151.
As tax season kicks into high gear, scammers are looking to take advantage. Scammers will make aggressive phone calls posing as IRS agents, hoping to steal money or information from victims.
Scammers will demand immediate payment for tax bills, regardless of whether you owe taxes or not. And if you give the scammers personal information, that can lead to identity theft, which in turn could lead to the scammer filing tax returns in your name and stealing your tax refund – in addition to other negative financial effects.
“With filing season underway, this is a prime period for identity thieves to hit people with realistic-looking emails and texts about their tax returns and refunds,” IRS Commissioner Chuck Rettig said. “Watching out for these common scams can keep people from becoming victims of identity theft and protect their sensitive personal information that can be used to file tax returns and steal refunds.”
Be on high alert if you receive a call, text or email asking to disclose your personal information. Don’t click on any links if you receive an email, and don’t respond to any texts.
If you receive one of these calls, hang up immediately. You can report any email you receive and report the phone number from which you received a suspicious call or text by emailing the IRS at [email protected].
To ensure you stay safe this tax season, remember that the IRS will NEVER:
Demand immediate payment using a specific method, such as a prepaid debit card, gift card or wire transfer.
Threaten to immediately bring in law enforcement groups and arrest you for not paying.
Demand that your taxes be paid without giving you an opportunity to question or appeal the amount owed.
Call unexpectedly about a tax refund.
Initiate taxpayer communications through email – ever.
Stay alert and safe this tax season, and remember the deadline to file your taxes is Monday, April 18, 2022.
Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.
New Year’s resolutions help keep people motivated to stick to their new-year goals. And if you’re looking to kick-start your savings this year, try the 52-week savings resolution.
Just think, by the end of the year, you could have nearly $1,500 stashed away.
What you do with the money accrued from this savings is up to you. It could be set aside and used strictly for emergencies. It could be used for your Christmas shopping. It could be used to pay for a well-earned vacation.
Or you could choose to keep it in your savings account and add to it with the same challenge next year.
The basis of the challenge is simple: Every week, you add money to your savings account. In Week 1, you save $1. In Week 2, you save $2, and so on, all the way to Week 52, where you will save $52.
At the end of the year using this method, you’ll have saved $1,378.
With this method, the brunt of the savings comes toward the end of the year. And for many, that could be a hefty amount of money to sock away during the holiday season.
If that seems like it’s too daunting of a task, you can reverse the order of savings: i.e. save $52 in Week 1, $51 in Week 2, $50 in Week 3, and so on, all the way to Week 52, where you will save $1.
Here is an example of how the plans will look:
Even if there are some weeks where you can’t meet that week’s savings goal, save what you can that week. There may be some weeks where you can catch up later in the year. Or there may be some weeks earlier in the year where you can save more.
Whatever you do, don’t give up. Staying motivated is the key to sticking with your resolutions, and watching your money grow weekly can help keep you motivated. If you’re ready to get started, click below for more information.
Financially Fit is your home fitness guide for all things financial, provided by RCB Bank. Find money-building tips, insights and inspiration to help you improve your financial well-being at RCBbank.com/GetFit. Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.
Timing is everything, and that is especially true when purchasing a house. Whether you’re waiting for the right home or applying for a mortgage, there are many time-sensitive processes to follow to ensure you can get the home and the financing you want.
It may seem like there’s a lot of hurry up and wait going on. But because it is likely the biggest purchase you’ll make in your life, there’s a good reason for the wait.
For traditional mortgages, the most noticeable is the three business-day waiting period between receiving your closing disclosure and the consummation date (often known as your closing day). This three business-day rule was introduced in October of 2015, and it applies to both original mortgages and refinancing.
When your three business-day waiting period starts is determined by your consummation day. This three business-day rule may include Saturdays, but it does not count Sundays or holidays.
For instance, if you want to sign on a Friday and a holiday falls on a Thursday, you must receive your closing disclosure on Monday. Because of this, the three-day period is NOT measured by hours.
You can sign the closing disclosure any time before you sign your final documents on your consummation day.
This waiting period gives you time to review all the documents to ensure that the terms you’re agreeing to match the terms outlined at the beginning of the mortgage process when you received your loan estimate (which lenders are required to disclose no later than three days after receiving your completed application).
The closing disclosure will show you the final terms of your mortgage, including your purchase price, interest rate, APR, closing costs, monthly payment, and more. Between the closing disclosure and consummation, if the APR, loan product type or prepayment penalty changes, that would require a revised closing disclosure, which in turn would require a new consummation date. Other changes to terms and costs outside of these (like title fees and insurance), will warrant a corrected closing disclosure, but will not require a new three business-day waiting period.
Basically, the closing disclosure is designed to protect you from bait-and-switch tactics if a lender promised you one set of terms but then presents worse terms just prior to the consummation day.
Opinions expressed above are the personal opinions of RCB Bank personnel and meant for generic illustration purposes only. With approved credit. For specific questions regarding your personal lending needs, please call RCB Bank at 855-BANK-RCB. Some restrictions apply. RCB Bank is an Equal Housing Lender and member FDIC. RCB Bank NMLS #798151.
‘Tis the season for scams.
This Christmas season, be on the lookout for scams and fraud. The Christmas season is the busiest shopping part of the year, and scammers are in full swing waiting to take advantage.
As many retailers begin their Christmas sale specials, scammers are ready with fraudulent websites and social media campaigns, impersonating those retailers. The scammers are hoping to entice you to spend money for products you’ll never receive.
Add in projected shipping delays and supply chain issues, and this Christmas season scammers are projected to be rife. Scammers preying on those will offer products that aren’t available or products that may not be quite what they seem.
Scammers generally won’t have any new tricks during the holiday season, but they will try different spins on scams that have worked in the past. During the Christmas season, scammers thrive as many tend to be more generous and in a giving spirit.
Here are some seasonal scams of which to be aware:
Charity scams
One-third of all charitable giving is done in December, fundraising software company Network for Good reports. That means more sham charities exploiting Americans’ goodwill via fake websites and pushy telemarketers.
Delivery scams
As holiday packages crisscross the country, scammers send out phishing emails disguised as UPS, FedEx or U.S. Postal Service notifications of incoming or missed deliveries. Links lead to phony sign-in pages asking for personal information, or to sites infested with malware.
Travel scams
Nearly 50% of U.S. adults plan to travel during the holidays in 2021, a SurveyMonkey poll found. Spoof booking sites and email offers proliferate, with travel deals that look too good to be true and probably are.
Letter from Santa scams
A custom letter from Ol’ Saint Nick makes a holiday treat for the little ones on your list, and many legitimate businesses offer them. But so do many scammers looking to scavenge personal information about you or, worse, your kids or grandkids, who may not learn until many years later that their identity was stolen and their credit compromised.
Gift card scams
When purchasing gift cards, make sure to purchase from counter attendants or from customer service. Thieves will copy the codes on cards and call after the holidays (when they know they will be activated) and use them before the intended recipient gets a chance to. Grabbing a card from an unattended sales rack increases the chances of having this happen to you.
Being aware of the types of scams that scammers use can help keep you — and your money — safe this Christmas season.
Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.
The holidays are a time when it’s tempting – and easy – to toss your budget out the window and splurge on your friends and family.
After all, it’s the season of giving. And often, giving the perfect gift is just as fun as receiving a gift.
However, with proper planning, you can stay on budget while spreading Christmas joy and avoiding the stresses that come with searching for that perfect present.
There’s no magic secret to a holiday budget. You’ll have to put the pen to the paper and figure out ahead of time how much you can afford to spend. Then you have to stick to it.
In other words, make a list and check it twice.
Having a budgeted list and sticking to it will help you navigate all the expenses that come with the holidays.
Make a list of everyone you need to buy for and then a price range for each person with gift ideas. If you do this, it will come in handy later.
Let’s say you find a great deal on a gift for one person on your list and it comes in $25 under budget. That can help you later if a gift you found for another person is $20 over budget – you can still purchase that gift, because you were under budget on the first person.
One final tip is to start thinking about next year. Save your receipts. They can come in handy next Christmas when making your budget. You’ll know who all you shopped for and how much you spent on them.
Also, when planning for next year’s Christmas budget, talk to your bank and see if they have options that will help you save throughout the year. They’ll most likely be happy to set up a separate account that you can deposit money into every payday. Then you’ll automatically have your money ready to go!
Make it a challenge to see if you can come in under budget. If that happens, you can reward someone who wasn’t on your list – yourself!
Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, member FDIC.
With the recent news of Social Security benefits increasing by nearly 6% in 2022, now is the time to be on the lookout for Social Security scammers.
Those who receive Social Security benefits don’t have to do anything to receive the increase. The increases will happen automatically.
However, scammers will try to take advantage of those who are unaware that their increase will happen automatically.
These tips from the Social Security Administration (SSA) show you what to look for and how to recognize a Social Security scammer:
Social Security scammers may:
Threaten arrest or legal action against you unless you pay a fine.
Promise to increase your benefits or resolve identity theft if you pay a fee.
Demand payment with retail gift cards, wire transfers, internet currency or by mailing cash.
Pretend they are from Social Security or another government agency. Caller ID, texts or documents sent by email may look official but they are not.
DO NOT BELIEVE THEM!
If you owe money to Social Security, the agency will mail you a letter with payment options and appeal rights. Social Security does not suspend Social Security numbers or demand secrecy from you, ever.
How you can help:
If you receive a questionable call, hang up and report it at ssa.gov.
Do not return unknown calls, email, or texts.
Ask someone you trust for advice before making any large purchase or financial decision.
Do not be embarrassed to report if you shared personal information or suffered a financial loss.
If you think you’ve been a victim of a scammer, call the SSA fraud hotline at 1-800-269-0271.
Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.
Source:
https://www.ssa.gov/scam/
Spoof websites can lure unsuspecting people into giving away their information without knowing that they’re doing it. A spoof website will try to make itself look almost exactly like the website it is trying to spoof, hoping a person will enter their personal information or username and password.
Once a scammer’s fake, but legitimate-looking website gets indexed by search engines, it will appear in search results based on the search words you type.
Even if you are a seasoned internet user, it is easy to fall prey to the sophisticated techniques that are used in website spoofing. With the wool pulled over your eyes, you could inadvertently give phishers extremely damaging information. The best way to handle spoofed websites is by exercising caution at all times.
Finding your way onto a spoofed website usually happens by using vague or incorrect search engine terms. It also can happen if you type a web address too quickly and accidentally transpose two letters or misspell the web address.
How to spot spoof websites
There are several ways to spot a fake website:
Misspellings and grammar mistakes: While most fraudulent websites try to make it look as close to the actual website they’re trying to spoof as possible, misspellings or improper capitalization of words sometimes creep in. Also look for missing periods or commas
Take a close look at the URL: If the URL isn’t what you expect it to be, it’s probably a spoof website. Close that website as soon as possible.
Blurry logos or images: Because spoof websites don’t have access to original company logos and images, the ones they’ll use are lower resolution and likely will appear to be blurry on the spoof website.
If you see any of these red flags, don’t click on any links.
How to prevent visiting a spoof website
If it is a website you visit often, such as your bank website, bookmarking the website and accessing it directly via the bookmark will prevent you from accidentally typing in the website address incorrectly.
Also, be extra careful when using a search engine. Ensure the words are spelled correctly.
Before clicking on a link, hover over it and read the true website address at the bottom left of the browser. If it isn’t familiar, don’t click on the link.
By taking your time and being careful, you should be able to avoid most problems.
What to do if you suspect a spoof website
If you happen across a spoofed website, you can report the fake website to the federal government here:
Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.
Starting a savings plan for emergencies may seem like a daunting task. Your goal may seem unreachable or impossible, especially if you’re living paycheck to paycheck.
According to a May 2021 survey, not saving enough for emergencies is Americans’ biggest financial regret.
But why is an emergency savings plan important? Because while you can’t control when something unexpected happens to you, you can control being prepared for the unexpected.
Imagine your air conditioner going out in the July heat on the hottest day of the year. Or, your car breaking down. Unforeseen circumstances can cause problems that can then snowball, if not addressed as soon as possible.
An emergency savings plan creates a financial buffer which helps in times of need and can stave off debt. An emergency savings fund can keep you from needing to take out a payday loan or using high-cost credit cards to cover the cost of the emergency.
According to a July 2021 survey, more than half of Americans have less than three months’ worth of expenses saved in an emergency fund – and 25% have no emergency fund at all – which is up from 21 percent in 2020.
Three months’ worth of savings won’t happen overnight.
So how do you start saving?
If money is tight, start small, with a goal of saving $100. Then $500. Then $1,000. Work your way up to six months’ worth of expenses. It’s not about how much money you make — it is how you manage your money that matters.
Once you have it established, resist the temptation to dip into it.
Have the money direct deposited from your paycheck into a designated emergency fund account – not your checking account – so it’s automatic.
Financially Fit is your home fitness guide for all things financial, provided by RCB Bank. Find money-building tips, insights and inspiration to help you improve your financial well-being at RCBbank.com/GetFit. Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.
What is auto refinancing?
Auto refinancing is when you replace your current automobile loan with a new loan that has better or different terms. The new loan pays off your original loan and you open a new loan with new paperwork, a new loan rate and new terms and conditions.
When to Refinance Your Car
There are many reasons why someone might need or want to refinance their car:
• Interest rates have gone down since you took out your original loan. If interest rates have dropped, it is worth talking to a lender and seeing what your potential savings could be over the life of the loan.
• You didn’t get the best deal possible when you purchased the car and would like a more favorable loan now. Car dealerships may not offer the best rates possible. If you took out your loan with a dealer and did not negotiate the interest rate, a refinance could save you a lot of money over the life of the loan.
• Your personal finances have changed and you would like a lower monthly payment. While refinancing can reduce your monthly payments, it often means taking a longer loan payoff period. Your car will also depreciate during that time and you may pay more in interest over the life of the loan. Term restrictions may also apply depending on the year of the vehicle.
• Your credit has improved since you received your original loan. If you previously had bad credit or no credit, checking to see if you can get a better deal a few years down the road is a good idea. You may receive better offers and save money over the life of the loan with a lower interest rate.
How to Refinance Your Car
Before you decide to refinance, talk to a few lenders to see what rates they offer and whether it will save you money over the life of the loan. Find out if there is a prepayment penalty, or fee for paying off your other loan early, and what others fees you may be responsible for when you refinance. You will also want to make sure your car’s value is more than the loan amount left, or it could be hard to get a new loan. Some lenders may have restrictions about the age of the car they will refinance.
Once you have determined if refinancing is a good option, prepare your documentation. You will likely need a number of documents on hand to apply for a new loan.
• Proof of income
• Evidence of auto insurance.
• Information on your current loan.
• Information about the car, including the make, model, mileage, year and vehicle identification number, or VIN.
• Your driver’s license.
After you have gathered your documentation, shop around. Look for loan promotions in your area and get prequalified with a few different lenders. Some lenders also offer a discount if you use an automatic payment option, so don’t forget to ask.
GAP Insurance
GAP, also known as Guaranteed Asset Protection, provides the consumer with protection in the event of a total loss of the covered car due to vehicle theft or an accident. If a total loss occurs, you file a claim and GAP will pay off the residual loan balance that the primary claim fails to pay. Given the ever-increasing costs of a complete vehicle restoration after an accident, GAP protection may be needed more now than ever before.
When to Get Car GAP Insurance
As a general rule, if you have less than 20% equity in on the car when you open the loan, GAP coverage should be considered. Conversely, if you enter the loan with more than 20% equity in the car, GAP coverage becomes less beneficial and effective. Also, the longer the loan period, the more helpful GAP coverage becomes.
Our lenders are happy to answer your questions, even if you are not an RCB Bank customer. Connect with a lender in your area.
Financing available with approved credit. Other qualifications, restrictions, and conditions may apply.
Mortgage Refinancing Basics
What is refinancing?
A mortgage refinance is when you replace your current mortgage with a new mortgage. There are many reasons why homeowners may want or need to refinance:
To shorten the terms of their current mortgage.
To get a lower interest rate than their current mortgage.
To use the equity of the home to finance a large purchase, pay for an emergency or consolidate debt.
To convert your loan from an adjustable interest rate to a fixed interest rate.
To get the PMI (primary mortgage insurance) requirement removed. Many FHA loans require mortgage insurance for the life of the loan. A conventional loan will generally not require mortgage insurance if you have paid your loan balance down to 78% or less of the appraised value.
When to Refinance
In order to know if refinancing is a good option for you, you need to understand your long-term goals and your current financial situation. If you are refinancing to take advantage of lower interest rates, there are mortgage calculators that give you an estimate of how much it will cost to refinance and how much you can save over the life of the loan.
You also want to consider the break-even point, or how long it takes to earn back the money you spent to refinance. For instance, if it will take seven years to earn back the money you spent to refinance and you plan on moving in three years, it is probably a bad idea to refinance your loan.
Your personal finances can also determine if it is a good idea to refinance. If you need lower monthly payments because money is tight, refinancing might be a good option to relieve the monthly stress of the payment.
How to Refinance Your Home
In order to refinance your home, you will need to get approved for a loan the same way you did for the original financing. The first thing to do is have your documentation ready. This can include pay stubs, bank statements, a credit check, tax documentation and anything else your lender requests. It is also important to know that a strong credit score will have a positive impact on your refinancing terms. You may want to wait a few months to improve your credit score before starting the process.
Once your documentation is in order and your credit score is in a good place, you should then apply for a refinance with several different lenders. Apply at three or four places and do so in a short-time period so it reduces the impact on your credit score.
After you receive the loan estimate from different lenders, compare those documents and determine how much you will likely pay in closing costs. Closely compare the lenders’ fees, which could include the Origination Fee, Discounts Fee, Underwriting, Processing and Tax service Fee. Some third party fees, such as appraisers and title company fees, will likely be the same no matter what lender you choose. Choose the lender that works best for you and try to get your rate locked in as soon as possible. Then you will work with your lender to close on the loan in the exact same way you closed on your mortgage the first time.
No matter what you decide, do your research and ensure it makes financial sense to refinance before beginning the process. Lenders at RCB Bank are happy to help answer questions even if you are not a customer. Give us a call or visit our online Mortgage Center.
Opinions expressed above are the personal opinions of RCB Bank personnel and meant for generic illustration purposes only. For specific questions regarding your personal lending needs, please call RCB Bank at 855-BANK-RCB. With approved credit. Some restrictions apply. RCB Bank is an Equal Housing Lender and member FDIC. RCB Bank NMLS #798151.
Malware, otherwise known as malicious software, is a type of fraud that uses viruses, spyware, or other software to intentionally damage a computer, server, device or computer network. Criminals use malware to steal personal information, commit fraud, send spam or monitor and control online activity.
There are many different types of malware, including spyware, viruses, worms, adware and ransomware. Your computer may contain malware if you are experiencing one or more of the following problems:
• Your computer slows down, crashes or displays constant error messages.
• You cannot shut down or restart your computer.
• Unexpected messages and ads frequently pop-up on screen.
• You lose access to computer files.
• Settings on your browser change, such as the toolbar or home page.
Ransomware
Ransomware is a type of malware designed to hold data hostage. Ransomware encrypts or conceals access to your files in attempt to get you to pay a ransom to regain access. This is a growing threat for both individuals and businesses alike. The most common targets for ransomware attacks are small to medium-sized businesses, school districts, municipalities, health¬care institutions and financial institutions.
How to Prevent Malware
Most common malware attacks occur on the internet and email. To prevent malware, use up-to-date security software and firewalls. Do not change the security settings on your browser and pay attention if you receive a security notification from your browser. More tips to protect yourself from malware:
• Use strong passwords and multi-factor authentication.
• Do not download any unknown software or click on links in email, text messages or social media.
• Do not click on pop-up ads or banners that show up on your computer.
• Back up your data regularly.
• In emails, you should never click on a link you do not know or recognize.
Report a Scam
If you think your computer has malware, report it to the Federal Trade Commission here. You can also file an incident with the Cybersecurity & Infrastructure Security Agency here. If your personal information is compromised or fraud has occurred, call your bank immediately and call a credit reporting agency such as Equifax to place a fraud alert on your account. You can also contact your state Attorney General to report fraud.
Types of Construction Loans
A variety of constructions loans are available to homebuyers. It all depends on your specific situation. If you want to shop around and potentially use more than one lender, then getting two separate loans (one for the construction and then a second to pay off the construction loan and put the debt into monthly payments) may be the best choice. If you prefer to work with one bank and one lender, a construction-to-permanent loan may be the best finance solution. The important part is that you talk with a trusted banking professional before making any decisions.
Construction Only Loan
In this scenario, the borrower actually gets two loans. The first loan finances the construction of the home and the second loan refinances the construction into a long-term mortgage. This type of loan allows the homeowner to work with different lenders for the construction and permanent financing if they would like. The upside of doing this this loan is that you may have more flexibility if there are cost overruns and you can typically draw out money more often. A potential downside is that you typically cannot lock-in your interest rate or obtain full underwriting approval on your permanent loan until 90 days or less before home is complete.
Construction-to-Permanent Loan
With a construction-to-permanent, or “one time close,” loan you finance the construction of your home and the permanent financing with a single loan. In this type of a transaction the lender releases the money to the builder, contractor or other authorized suppliers as the phases of the construction are complete. The upside of this type of loan is that you know the details of your permanent financing up front. The downside is that these loans may be more limited in the number of times you can draw money to pay builders and contracts. It can also be more difficult to change your loan amount due to cost overruns.
Renovation Loan
If you see the home of your dreams, but it is a fixer-upper, a home renovation loan may be the right solution. A home renovation loan is based on the value of your home after the renovation is complete. This means you are borrowing against the future equity of your home and not just its current value. This may be a good option if the renovations are likely to increase the value of your home and/or reduce the long-term costs of the home.
Home Equity Line of Credit (HELOC)
A HELOC is a line of credit secured by your home based on the current equity of your home. A HELOC may have lower closing costs than a traditional construction loan. Another upside is that most banks only charge interest on what you draw, or use, from the HELOC and not from the total amount approved. A potential downside is that rates for a HELOC are often variable and can increase throughout the life of the loan.
Lenders at RCB Bank are happy to help answer questions even if you are not a customer. Give us a call or visit our online Mortgage Center.
Opinions expressed above are the personal opinions of RCB Bank personnel and meant for generic illustration purposes only. For specific questions regarding your personal lending needs, please call RCB Bank at 855-BANK-RCB. With approved credit. Some restrictions apply. RCB Bank is an Equal Housing Lender and member FDIC. RCB Bank NMLS #798151.
It starts with a morning coffee or a quick lunch out. Maybe you want the newest tech gadget or video game. Before you know it, you have the item, but you also have more financial stress.
This is common scenario for many Americans. In fact, 71% of Americans report feeling stressed about money, according to a recent survey done by American Psychological Association. However, these simple budget strategies may help relieve stress and improve your finances.
Step 1: Know your Expenses
Before you can create a budget plan, evaluate your personal money habits. For a few weeks, use text banking, online banking or your debit card records to track your spending. Once you know what you are spending money on, determine if those things are wants or needs.
A simple way to track these personal expenses is to take a piece of paper and write “wants” on one side and “needs” on the other. Wants are things you enjoy, but don’t necessarily need. Needs are essential items you need to live such as your rent or mortgage payment, food, water and clothing. Calculate how much you are spending in each column, then look for places to cut costs.
Step 2: Create a Budget Plan
After you know all your expenses, evaluate your monthly bills and see where you can cut costs. One simple budget idea is to reduce the amount you eat out or order take-out. Instead, create a grocery list, plan your meals and cook at home. You may be surprised at how much money you save. To pinch a few more pennies, look for coupons on items you regularly purchase and buy off-brand items.
Another good way to save money is to change your phone plan or provider. If you signed up for 10GB of data per month and your phone company shows you only use half of that, change your plan and reduce your bill. You can also research deals other carriers offer a few times a year. Even if you only save $20 or $30 each month, those savings add up.
Another way to reduce financial stress is to budget the amount of money you spend on streaming or cable services. If you can reduce one or more streaming service every month, you can save a hundred dollars or more every year. You can also call your cable company and talk about ways to reduce your monthly bill.
Step 3: Make Saving Money a Habit
Once you know how much money you are spending and have created a budget, start saving. One way to save is to call your bank and set up automatic savings. In this case, the bank can schedule a recurring time to move your money to a savings account before you have a chance to spend it. Even if you only contribute $50 or $100 each month, these savings allow you to prepare for unexpected costs such as medical bills, car or home repairs.
Once you have started saving and have an emergency fund in place, you should consider long-term savings goals such as education funds for your kids or retirement accounts for yourself. It is best to meet with a wealth advisor to discuss these long-term investment options and how to plan for the future.
Just remember, it all starts with one small thing. Whether you brew your own coffee at home, bring your lunch a few days a week or cut one streaming service, every little bit helps.
Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, member FDIC.
While most of us know saving money is a good idea, we often struggle to save for the future. Saving is not a one size fits all solution, but building a savings plan for your future is an important step to becoming financially independent. Talk with a wealth advisor about your personal goals. Your future self will thank you.
Build an Emergency Fund
Set a reasonable goal. Start by trying to save a small amount, such as $1,000. Don’t feel pressure about how much you are saving, just save something.
Take the next step: Track your spending and develop a budget. Do everything you can to stay within your budget. Little things will help you succeed, e.g., set up automatic savings with your bank, create a grocery list (and stick to it), cut coupons and save change.
Save for Education
Consider education investment programs. A traditional savings plan is good, but you also may want to consider an investment account.
Take the next step: Look up your state’s options for 529 plans or speak with a wealth advisor on interest-earning, tax-advantage plans. Some education plans allow you to use earnings on tuition and fees (including K-12 public and private), books, computer equipment and room and board.
Retirement Planning
Save today for your future self. There are four primary ways you can fund your retirement: personal savings (e.g., IRAs and investment accounts); Employer retirement plans; Social Security benefits and retirement income (rental property, part-time job).
Take the next step: Talk with a wealth advisor who can help you build a retirement savings plan and income strategy to maximize your savings.
Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. Investment products are not insured by the FDIC. Not a deposit or other obligation of, or guaranteed by the depository institution. Subject to investment risks, including possible loss of the principal amount invested. Ask for details.
Do you want to renovate a home after buying? Are you considering building a new home? In these situations and many others, you will need a construction loan before you start a traditional mortgage. Depending on your situation, different loans are required.
Construction to permanent
With a construction to permanent loan the lender releases money to the builder as phases of the construction are completed.
Upside: Once the build is complete, the loan converts to a standard 15 or 30-year mortgage.
Downside: You have to lock in the interest rate at the beginning of the process. It can take a year or more to build a home and interest rates could be lower by the time you actually move in.
Construction only
Another way to finance the construction of your home is with a stand-alone construction loan. With this loan type, the homeowner take two loans. The first loan finances the construction of the home and the second refinances the construction loan into a long-term mortgage.
Downside: Since you obtain two separate loans, you pay two sets of closing costs and go through multiple loans applications and closings.
Upside: If you want to shop around for mortgage options instead of being locked into one lender’s options, you can secure a lower interest rate.
Renovation construction loans
These loans are available to people who want to do a renovation, but do not have the money to finance it themselves. You have many options to pay for home improvements, including personal loans, lines of credit or government insured loans.
Upside: Renovations can increase the value of your home or reduce your costs in the long-term. Bathrooms, new insulation, kitchens and finishing basements all add value to a home.
Downside: The improvement in home value may not justify the cost of renovations. There is also a chance renovations will cost more or take longer than you expected.
We are to here to help, even if you are not an RCB Bank customer. Connect with a local RCB Bank lender to get answers to your lending questions.
Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. With approved credit. Some restrictions apply. RCB Bank is an Equal Housing Lender and member FDIC. RCB Bank NMLS #798151.
Reduce Expenses
It’s a good habit to annually review your monthly expenses, looking for areas where you can cut costs. Start by discontinuing unused memberships/subscriptions. Call your cable, phone and insurance companies and ask for options to reduce your bill. Compare prices of other companies or consider alternatives like pre-paid phones or streaming services. Reduce utility expenses by adjusting your thermostat a few degrees. Unplug electrical items when not in use and reduce the number of days you water the lawn.
Reuse Stuff
Use less. Save more. An easy start is to ditch disposable items. Clean with rags rather than paper towels or cleaning wipes. Use reusable water bottles and dishes instead of buying bottled water and paper plates. Look for creative ways to repurpose common household items. Save glass jelly jars or clear plastic containers to organize your kitchen, office or craft room items. Cut up your old t-shirts for cleaning rags. Grab those Easter eggs and use them as handy snack containers. Find more money-saving ideas online.
Rethink Spending
Rethink your purchase decisions. Start by making a list and sticking to it. Consider paying with cash. And bring only the cash you need, so you’re not tempted to splurge. Before grocery shopping, plan out your meals, check your cabinets for what you already have and buy only what you need. Use coupons and avoid impulse purchases. Choose off-brand items. They’re made the same but without an expensive label.
Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only.
No matter what stage of life you are in, your current and future financial well-being should ALWAYS be in your plans. Taking full advantage of your workplace retirement savings options plus utilizing the help of a professional wealth advisor can help you build enough resources to enjoy the retirement lifestyle you want.
Baby Boomers: Born 1946-1964
You are at or nearing retirement age. Boomers are breaking boundaries and re-defining retirement for the generations to follow.
Have you accumulated enough assets to comfortably supplement Social Security?
Do you know how long those assets might last?
Are you confident you are managing your investments to preserve what you’ve built?
Generation X: Born 1965-1980
You have limited time left to accumulate sufficient assets for retirement. The temptation to raid your retirement savings to help fund your children’s college or to provide care for aging parents may be very real for you.
Do you understand the costs of this decision?
Do you need help prioritizing your financial obligations?
Are you saving enough now to generate the income you will need for 20-35 years of life in retirement?
Generation Y: Born 1981-1996
Retirement seems far away and may not be on your radar. Statistically, your generation saves better than the one before. But, your mobility often causes small repeated cash-outs from retirement accounts as you move from job to job, leaving little savings as the years go by.
Time is on your side if you take advantage of it now.
Aim to save a minimum of 10% (including your employer’s contribution, if available, and any IRA’s or other plans).
Provide for your future self by including retirement savings in your current budget.
Generation Z: Born 1997-Present
You may not have the obligations of a mortgage or children. This puts you in a prime position to build your retirement nest egg.
The sooner you start saving, the longer your money has a chance to grow with compounding interest.
Aim to put at least 5% away for retirement.
Don’t be tempted to cash out your retirement account if you switch jobs.
Make retirement savings a necessary expense in your budget.
Investment products not insured by the FDIC. Not a deposit or other obligation of, or guaranteed by the depository institution. Subject to investment risks, including possible loss of principal amount invested. The information provided is for educational purposes only and does not constitute tax, investment or legal advice. Consult a professional wealth advisor to discuss your individual retirement savings needs.
A mortgage is one of the most expensive and long-term commitments you will make in your life. So how can you both save money and take years off your loan? It’s actually pretty simple. If you pay just a little extra on your mortgage each month or year, you will owe significantly less over the life of the loan.
Although most borrowers know their home is a valuable asset, they often don’t consider how much interest adds to their overall cost. Your mortgage is amortized, meaning you pay regular installments on principal and interest over the specified period of time. Every time you pay your mortgage, interest costs decrease and the principal increases. If you pay nothing extra on the mortgage, the total amount you owe over the life of the loan will not change. However, pay a little extra and you can take years off your loan and save thousands of dollars in interest.
Let’s look at this closer. If you get a 30-year loan for $250,000 and it accrues 4% interest per year, you will end up paying $179,674 in interest over the life of the loan. This is a big number, but one you can reduce by budgeting some extra money for your mortgage.
Using the example I’ve just described, the monthly mortgage payment is $1193.54 per month. If you can make one extra mortgage payment per year, you can save over $28,000 in interest over the life of the loan! Make it a Christmas present and pay a little at a time or make one lump payment at the end of each year. Paying just a little extra on your mortgage is the gift that keeps giving.
The more knowledge you have about the mortgage process, available loan options and your individual qualifications, the more satisfying your homebuying experience will be. Connect with a local RCB Bank lender to get answers to your lending questions. Give us a call or visit our online Mortgage Center.
Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. The monthly payment calculation expressed above is not for any specific loan type and is meant for generic illustration purposes only. For specific questions regarding your personal lending needs, please call RCB Bank at 855-BANK-RCB. With approved credit. Some restrictions apply. Equal Housing Lender, Member FDIC. RCB Bank NMLS #798151.
If you are preparing to buy or refinance a home, take a look at your VA Loan option, which offers lower out-of-pocket financing than traditional lending options. Here are five benefits of VA Loans.
No. 1. 100% Financing
The U.S. Department of Veteran Affairs (VA) guarantees this loan, allowing you to finance the entire purchase price of the home. Nearly all conventional and FHA loans require the loan-to-value to be below 100%.
No. 2. No Monthly Mortgage Insurance Costs
Most loans with less than a 20% down payment require you to pay for a mortgage insurance premium (for FHA loans) and private mortgage insurance, commonly referred to as PMI, for conventional loans.
While there is no monthly mortgage insurance, there is a one-time funding fee, which ranges from 1.5% – 3.3%, based on your eligibility and down payment. You may also be exempt from the funding fee if you were awarded a service-related disability.
You are also able to roll your funding fee into the loan to help keep your out-of-pocket expenses lower at closing.
No. 3. More Flexible Underwriting Standards
A VA Loan is the only loan that does not require student loans deferred over one year to be included in the debt–to-income ratio, which is used by lenders to determine how much you can afford to borrow. Also, a VA loan allows for higher debt ratios than other loans like FHA, conventional and rural development.
No. 4. You Can Have Two VA Home Loans at a Time
VA does allow you to purchase another home if you are choosing to move prior to selling your current VA-financed home. It depends on how much entitlement you have left from the previous purchase and the loan limits in the area where you are buying your new home. Your mortgage lender can help you calculate your entitlement and qualification.
No. 5. VA Jumbo Option Available
In most counties today, the maximum loan limit for conforming conventional and VA loans is $484,350. However, there are certain counties where the VA maximum loan limit exceeds $484,350; these loans are known was VA Jumbo loans. These amounts are current as of the time of writing this article. Most Jumbo loans require 20% down payment; however, VA loans do not. Depending on your eligibility, you may be able to pay a 10% or less down payment.
You can learn more about eligibility requirements at www.benefits.va.gov. Search VA home loans.
When it comes to obtaining a VA Loan, you want to work with a qualified VA mortgage lender. RCB Bank is proud to offer a VA loan benefit to our active duty service members and veterans. We can help you determine your eligibility and what you qualify for. Plus, once you start the loan process, we’re here to walk you through start to finish.
Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. For specific questions regarding your personal lending needs, please call RCB Bank at 855-BANK-RCB. With approved credit. Some restrictions apply. Equal Housing Lender, Member FDIC. RCB Bank NMLS #798151.
There is a lot of incorrect information out there that may persuade you not to pursue getting a home. Before you run in fear, talk to a lender first about your concerns, so we can help you know what is truth or myth.
Myth #1:You have to have a 20% down payment in order to get a mortgage – WRONG.
There are many down payment options. For instance, if you are a veteran, or buying in a rural location, you could potentially get into your new home with little to no down payment.
Several first-time homebuyer loan options start with a 3% down payment, and Federal Housing Administration (FHA) offers financing options starting with a 3.5% down payment.
With all of these down payment options, homeownership may be more BOOlievable than you think.
Myth #2: Being Pre-Qualified is the same as being Pre-Approved – WRONG.
Pre-qualification is based on un-verified information. This is an initial look at your application to make sure there are no major red flags that may prevent you from getting a mortgage. For example, a pre-qualification may use an estimate of your credit score and compare your income with your debts to see if you can support a mortgage payment. The pre-qualification process is quick and is based on information you provide to your lender. A pre-approval is a more extensive process where the lender uses verified information (e.g., your credit report and pay stubs) to determine which mortgage you actually qualify for.
Without a pre-qualification or pre-approval, home shopping may become a frightfully batty experience.
Myth #3: Shopping around for lenders will hurt your credit – WRONG.
Multiple inquiries can hurt your credit, but FICO allows for rate shopping by grouping all similar inquiries made within a 30-day timeframe as one hard-hit. This allows you to shop around as long as it is within 30 calendar days.
When shopping lenders, be sure to ask what fees they charge, what the interest rate and annual percentage rate (APR) are, and if you aren’t putting 20% down, what is the cost for private mortgage insurance (PMI).
Don’t be spooked by misinformation about mortgages. Talk to a lender and get the truth. I’m here to help you have a FANGtastic homebuying experience, even if you are not an RCB Bank customer. Connect with a local RCB Bank lender to get answers to your lending questions. Give us a call or visit our online Mortgage Center.
Opinions expressed above are the personal opinions of RCB Bank personnel and meant for generic illustration purposes only. With approved credit. For specific questions regarding your personal lending needs, please call RCB Bank at 855-BANK-RCB. Some restrictions apply. RCB Bank is an Equal Housing Lender and member FDIC. RCB Bank NMLS #798151.
New cars can quickly depreciate in value causing your auto insurance to pay less than what you owe on your car loan. What happens when an accident totals your car? Who pays the difference between the insurance settlement and your outstanding loan balance? You do. Or, maybe not.
Get$Fit Tip: Protect your assets.
It may be worth buying Guaranteed Asset Protection (GAP) coverage to help you avoid the risk of negative equity and having to continue making principal payments after a total loss. Depending on your loan term, GAP adds on average an estimated $7-$111 to your monthly loan payment, but it potentially could save you thousands of dollars in the event of loss.
When GAP may benefit you:
• You make a small or no down payment on a new car
• You agree to a loan term longer than 48 months
Talk to a lender for details to see if GAP is right for you.
Our lenders are happy to answer your questions, even if you are not an RCB Bank customer. Connect with a lender in your area.
Invest in yourself. RCBbank.com/GetFit
1GAP insurance costs varies between lenders and loan terms. See your lender for specific questions regarding your personal loan qualifications and overall costs. 2GAP Insurance covers the residual value of the loan as of the date of loss. Ancillary products can be purchased at an additional cost, which vary based on loan terms. Qualifications and restrictions apply. Above example is for generic illustration purposes only, based on 700 credit score. Does not factor in down payments, additional fees or other costs. Subject to credit approval. Rates are accurate as of June 15, 2018, and subject to change without notice. Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. Member FDIC and Equal Housing Lender, RCB Bank NMLS #798151.
Ponca City, OK. — RCB Bank is pleased to announce the promotion of Jason Johnson to Senior Vice President, Community President. Johnson will lead the Bank’s Ponca City market and oversee strategic growth initiatives across multiple locations.
Johnson, who previously served as Vice President, Loan Officer, brings more than 26 years of banking experience, all within the Ponca City community. In his new role, he will focus on strengthening community engagement, driving loan and deposit growth, supporting market expansion and mentoring staff, all while aligning community initiatives with RCB Bank’s long-term strategic goals.
“Each day is a new opportunity to make a difference in someone’s life,” Johnson said. “RCB Bank provides the resources and support that allow us to truly help people and build meaningful relationships in the communities we serve.”
Johnson began his career in banking in 1999 and joined RCB Bank in June 2015. Over the past decade, he has played a key role in managing retail, consumer and commercial loan portfolios, overseeing risk management and regulatory compliance and driving productivity through relationship-focused banking.
Johnson holds a bachelor’s degree in management from Oklahoma State University and further strengthened his leadership expertise as a 2024 graduate of the Graduate School of Banking at Louisiana State University. His career progression includes roles as Personal Banker, Branch Manager, Lending Officer and now Community President, giving him a comprehensive understanding of both banking operations and customer needs.
Johnson is known professionally for his honest, transparent approach and his collaborative leadership style. “We can achieve more together than we ever could alone,” he said. “An open-door policy and teamwork are essential to overcoming challenges and serving our customers well.”
Highly active in the community, Johnson has supported numerous local nonprofit organizations, including United Way of Ponca City, Habitat for Humanity, the Ponca City Chamber of Commerce, New Emergency Resource Agency (NERA) and the SCL Foundation. He is also a graduate of Leadership Ponca City (32nd Class).
Originally from Duncan, Oklahoma, Johnson has lived and worked in Ponca City for more than 27 years. He and his wife, Tonya, have five children together, Bailey, Blake, Mia, Melody and Bella. Outside of work, he enjoys spending time with his family, camping and participating in various sports activities.
Johnson’s leadership, integrity and deep roots in Ponca City make him an exceptional choice to serve as RCB Bank’s Community President for the Ponca City market. His commitment to relationship banking and his passion for serving both clients and associates reflect the values that define RCB Bank.
GET IN TOUCH Jason Johnson
SVP, Community President
NMLS #1376639
1223 E. Highland Ave., Ponca City, OK 74601
580.718.2707 | [email protected]
RCB Bank is a community bank with locations across Oklahoma and Kansas. Founded in 1936, RCB Bank is committed to serving its communities with conservative banking practices and progressive banking products. Learn more at RCBbank.bank or give us a call at 855.BANK.RCB. Member FDIC, Equal Housing Lender, NMLS #798151
Who doesn’t like getting a tax refund? There are so many ways to spend it! Before you fill up your cart with impulse items, think about how you could use that cash to boost your long-term financial security. This article shows you six excellent ways to use your IRS windfall.
Build Your Savings
Okay, so you have an emergency fund, but that doesn’t mean you should neglect other reasons for saving. You can put your tax refund toward a vacation, a car purchase or maybe a down payment on a house. Think about other ways to save. The IRS lets you split your refund between up to three accounts when you use direct deposit, which means you can sock away some cash in a separate account where you won’t be tempted to spend it. Consider opening a money market account, which often pays higher interest than a saving account. Keep in mind that you may need a higher balance to open the account, avoid a monthly fee or earn a higher rate. Whatever you manage to save, the important thing is to get in the habit of putting money away and sticking with it.
Pay Down Debt
It may not be the most exciting way to spend your refund, but you’ll get more bang for your buck if you put that money toward reducing your debt load.
Where should you start? If you have high-interest debt, including credit card balances, tackle that first. Paying it off, or at least paying it down, is a smart investment. It’s simple math: Putting that $2,000 IRS check in an account paying 1% interest while carrying a $2,000 credit card balance with 15% interest doesn’t make much financial sense. Once those monthly payments go away, you’ll be able to put that money back in your pocket.
Feed Your Emergency Fund
Let’s say you’ve paid off your high-interest debt and you’re thinking about what else you can do with that extra money. Then, your car breaks down, your refrigerator conks out, your basement floods or you get hit with an unexpected medical bill. Do you see where we’re going with this? You can never go wrong with saving money for emergencies. Unfortunately, many people don’t have enough savings on hand to deal with a sudden financial need. Using your tax refund to start or add to an emergency fund can help you be prepared for unanticipated expenses.
How much should you put away? Experts recommend having at least three to six months’ worth of living expenses set aside in an interest-bearing savings account. But if you can’t manage that, every little bit helps, even $500 can come in handy in an emergency. So, use part of your tax refund check to boost your emergency savings and then put aside a little cash each month to further prepare for an unexpected expense.
Make Home Improvements
Putting money into savings is smart, but you can also use it to protect one of your most valuable assets, your home. Making improvements to your home can not only increase its value but can make it a more enjoyable place to live. Before you call the contractor, think about what renovations make the most sense. If your house needs repairs, taking care of them early, before they cause major damage, can save you money in the long run. If you’re thinking about renovations, you’ll want to invest in capital improvements, like replacing windows, updating a kitchen or bath, building a deck, getting a new roof or building an addition. These are things that increase the home’s value, improve functionality and make it more attractive to buyers if you put your house on the market. Keep track of what you spend. You’ll need those numbers when you decide to sell.
Save More for Retirement
If both your savings and your home are in good shape, think about beefing up your retirement account. Investing your tax refund in your retirement fund can really pay off, especially when you harness the power of compound interest. You could take a $2,000 refund, invest it for 10 years with a 6% annual return rate and you’ll grow that initial sum into more than $3,500. If you keep investing $2,000 yearly during those 10 years, you could build an even bigger nest egg of $28,000. Do that for 20 years and you’re looking at $78,000! That’s nearly double the $40,000 in tax refunds you invested. The earlier you start saving for retirement, the more your money will grow and the more financially secure you’ll be.
Treat Yourself
We saved the best for last. If your savings are solid, you have an emergency fund, you aren’t facing major home or car repairs and you’re already saving for retirement, maybe it’s time to splurge on that big extravagance you’ve been dreaming about (85-inch TV? Barista-quality espresso maker? Smart refrigerator? All-in-one washer and dryer combo?) It doesn’t have to be an all-or-nothing proposition. You can be responsible and still have fun with your money. Experts recommend using 10% to 25% of your refund for something enjoyable, like taking a vacation or going on a shopping spree. By making smart choices, you can ensure that your refund keeps working for you, putting you in a better position for the future.
Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank, Member FDIC.
By posing as the IRS, criminals try to trick you into providing sensitive information such as your Social Security number, online passwords or banking details, which they can then use to commit identity theft.
Tax Day rolls around each April and, if you’re like most people, you pay your taxes on time and are careful to file accurate returns. But what if someone contacts you and claims you owe back taxes or says there’s an issue with your return? While the IRS does reach out to taxpayers when necessary, you may not be dealing with the IRS, but a scammer. Let’s look at three common IRS imposter scams, how they work and how to spot them.
Tax Collection Scam
In this scam, a criminal may contact you by phone, claiming you owe taxes and demanding immediate payment. This fake IRS official may threaten to arrest you, take your driver’s license or, if you are an immigrant, even deport you. Through intimidation, they’ll try to get you to pay up, often with a prepaid debit card, cashier’s check or wire transfer. Don’t comply! Hang up the phone immediately. It’s important to know that the IRS will never try to intimidate you over the phone or make unusual payment demands.
IRS Verification Scam
When you become a target for this scam, you may receive an official-looking email that looks like it comes from the IRS and that asks you to verify your personal information. This is what’s called a phishing attack. Criminals want to get your personal information and use it to commit identity theft. If you receive an unexpected email from the IRS, it’s NOT the IRS. To protect yourself, don’t click on any links or download attachments.
Tax Transcript Email Scam
A tax transcript is a summary of your tax return from a given year. You may need a tax transcript to show proof of income to lenders when you apply for a mortgage or an auto loan. In this scam, crooks claiming to be from “IRS Online” send an email with the words “tax transcripts” in the subject line. The email has an attachment named “Tax Account Transcript” or something similar. Don’t open the attachment! It contains malware that can infect your computer and possibly steal your personal information. It’s important to know that the IRS will never call, email or text you and ask for your tax information. They also won’t send an email with an attachment asking you to update your profile or log in to access your tax transcript. If you get a message like this, delete it. It’s a scam!
How You Can Guard Against a Potential IRS Imposter You can take several steps to avoid getting caught in a scam. Here is what you can do:
Be aware of an increase in the number of scams during tax season, which starts in January and runs through April.
Hang up on threatening phone calls.
Don’t pay, especially when you’re asked for a hard-to-track payment type like a prepaid debit card or gift card.
Be wary of any non-mail communications that appear to be from the IRS. If the IRS reaches out, its initial contact is always by letter, not by phone, email or text message.
Don’t always trust your phone’s caller ID information. To look official, scammers may use a trick known as spoofing to display a fake caller ID.
If you are targeted by an IRS scam, file a complaint with the FTC online at ReportFraud.FTC.gov; if you receive an email, forward it to [email protected].
A Letter From the IRS: Is It Real? If you receive an IRS notice or letter to verify your tax return, request information or notify you that there’s a balance due, confirm that it’s really from the IRS. You can verify IRS communications online at IRS.gov or by phone by calling 800.829.1040.
The IRS will also send a letter in the event of tax ID theft. Tax ID theft is a crime where someone uses your Social Security number to file taxes and claim a refund. You may not know that your tax ID has been stolen until you try to e-file and are told that another return has already been filed using your Social Security number.
Scammers are working hard to prey on honest taxpayers. Keep these tips in mind so you can identify and avoid IRS imposters and their criminal schemes. To learn more about protecting your information, talk to your financial institution today.
Prompt Reporting: If you feel you have fallen for a scam or suspect your accounts or identity have been compromised, report the incident immediately. RCB Bank customers can contact us at 855-226-5722 during business hours Monday – Friday 8:00 a.m. – 6:00 p.m. excluding Federal Holidays or visit the RCB Bank Security Center website for detailed information. Need to contact RCB Bank Fraud Department on the weekend? Contact us at 877-361-0814 Saturday 8:00 a.m. – 4:00 p.m. CST or Sunday 8:00 a.m. – 12:00 p.m. CST (excluding Federal Holidays).
Contact other reliable sources such as the FBI and file a complaint at ic3.gov to contribute to efforts against these fraudulent activities.
Opinions expressed above are the personal opinions of the author and meant for illustration purposes only. RCB Bank, Member FDIC.
Owasso, OK — RCB Bank is thrilled to announce the promotion of Patty Potteiger to Senior Vice President,Community President of Owasso. Potteiger previously served as Senior Vice President of Lending at RCB Bank’s Union location for the past two years.
Potteiger brings more than 20 years of executive leadership and banking experience, including an extensive background in commercial lending. Before joining RCB Bank, she served as the Tulsa Market President for Great Southern Bank. She will continue to contribute to RCB Bank’s mission through her commitment to relationship‑focused banking and community-oriented service.
“I’ve been a customer of RCB Bank for many years,” said Potteiger. “When Great Southern Bank left Oklahoma, Richard Willhour (EVP, Regional President of RCB Bank), someone I’ve known for 20 years, encouraged me to join RCB Bank. His confidence in me, along with the bank’s strong values, ultimately brought me here.”
Potteiger is known for building strong client relationships, responding quickly, and supporting both customers and colleagues in achieving success. Guided by a principle rooted in character, she brings this value to every professional interaction. “RCB Bank believes in core values of banking, and those are my core values,” she added. One of her favorite quotes, which she often references, is from Abraham Lincoln: “Character is like a tree, and reputation like its shadow. The shadow is what we think of it; the tree is the real thing.”
Throughout her career, Potteiger has been recognized for her leadership, mentorship and ability to navigate challenges with resilience. “I view challenges as minor speed bumps,” she said. “They don’t define the journey; they simply shape it.”
Outside of work, Potteiger is a dedicated advocate for community causes. She has been involved with Palmer Continuum of Care Tulsa (Tulsa Women and Children’s Center) for 11 years, including serving as Board Chair and CEO from 2022–2025. She continues her service as an active board member. She has also volunteered with the Claremore Veterans Center, the Community Food Bank of Eastern Oklahoma and served on the advisory board for the Tulsa Regional Chamber of Commerce.
A longtime Oklahoma resident, Potteiger was raised in Pryor and has lived in Owasso since 2009. She and her husband, Tim Potteiger, have two sons, Jayson and Jacob, and share their home with their Chihuahua, Ian. In her free time, she enjoys traveling and attending sporting events with family and friends.
RCB Bank congratulates Patty Potteiger on her new role and looks forward to her continued leadership and service to the Owasso community.
GET IN TOUCH Patty Potteiger
SVP, Community President
NMLS #797175
11633 E. 86th St. N., Owasso, OK 74055
918.274.1401 | [email protected]
RCB Bank is a community bank with locations across Oklahoma and Kansas. Founded in 1936, RCB Bank is committed to serving its communities with conservative banking practices and progressive banking products. Learn more at RCBbank.bank or give us a call at 855.BANK.RCB. Member FDIC, Equal Housing Lender, NMLS #798151
For many homeowners, a mortgage payment may feel like just another monthly bill, but it’s actually working quietly in your favor. Each payment helps build equity, one of the most powerful financial benefits of homeownership.
Here’s a quick look at how equity grows and the smart ways you can use it.
What Exactly Is Home Equity?
Your home equity is the portion of your home that you truly own. It’s calculated by taking your home’s current appraised value and subtracting what you still owe on your mortgage. As your balance goes down, and your home value goes up, your equity rises.
How Mortgage Payments Build Equity
Mortgage payments build equity in several ways. First, each payment reduces your loan balance through principal repayment, and over time, a larger share of each payment goes toward that principal, increasing your ownership stake. Additionally, making extra payments, whether by adding a little each month to the principal or making one full additional payment per year, can accelerate equity growth. Finally, rising home values can increase your equity even without extra payments, as property appreciation boosts your home’s market value.
Improvements Equal Instant Equity Boost
Upgrading your home, such as kitchen renovations, bathroom remodels or adding energy-efficient features, can increase your home’s value, creating instant equity.
Smart Ways to Use Your Home Equity
Depending on a homeowner’s individual goals and financial situation, there are several ways equity can potentially be used. Some borrowers may choose a Cash-Out Refinance to replace their existing mortgage while accessing a portion of their equity. Others may decide to sell their home to convert equity into funds for upsizing, downsizing or relocating. Homeowners may also explore using their available equity to invest in rental properties or other long-term assets, when appropriate for their circumstances.
Why Equity Matters
Building home equity can help you grow long-term wealth, gain financial flexibility, strengthen your net worth and create opportunities for future investments.
Ready to explore your options?
Contact one of our Mortgage Representatives today to assist you in meeting your homeownership goals!
Opinions expressed above are the personal opinions of the author and meant for illustration purposes only. For specific questions regarding your personal lending needs, please call RCB Bank at 855-BANK-RCB. With approved credit. Terms, qualifications and other restrictions apply. Member FDIC, Equal Housing Lender, RCB Bank NMLS #798151.
Wichita, KS — RCB Bank is pleased to announce the addition of John White as Senior Vice President, Market President, serving the Wichita Market and operating out of the Bank’s Berkely Square office.
White joins RCB Bank with more than 23 years of banking experience and a well-established reputation as a trusted advisor in commercial finance. His career began as a part-time teller during college and evolved into progressive leadership roles across retail management, treasury sales, business banking and commercial lending. Over the years, White has contributed to the growth of multiple financial institutions, helping develop business development systems, implement new technologies and generate significant commercial loan and deposit growth.
White said he was immediately drawn to the strength, culture and growth mindset of RCB Bank. “RCB Bank stood out competitively in the market, and once I learned more about the corporate culture, I knew it was a place where I could continue to grow and develop,” he said.
Throughout his career, White has built deep roots in the Wichita business community. He has worked closely with small and large businesses alike, financing expansions, supporting emerging entrepreneurs and contributing to long-term client successes.
A graduate of the Commercial Lending Program at the Southwest Graduate School of Banking at SMU, White stays active in professional development through industry publications, peer collaboration and ongoing economic research. He also values mentorship and credits early career leaders for shaping his approach to relationship-building and leadership.
White is actively involved in the Wichita community and has previously volunteered with Habitat for Humanity. He is also a supporter of the Wichita Humane Society, Make-A-Wish Foundation and the American Heart Association.
Originally from Caldwell, Kansas, White now lives in the area with his wife, Kari, and their two daughters, Brixley and Blaizey. The family also includes Piper, their husky, and Max, their very well-fed tabby cat.
White’s professional philosophy is one grounded in integrity, consistency and client-centered service, making him an invaluable addition to RCB Bank. Looking ahead, RCB Bank and White are committed to enhancing client relationships and supporting local business development.
GET IN TOUCH John White
SVP, Market President
NMLS #850442
10501 E. Berkeley Square Pkwy, Wichita, KS 67206
316.247.7730 | [email protected]
RCB Bank is a community bank with locations across Kansas and Oklahoma. Founded in 1936, RCB Bank is committed to serving its communities with conservative banking practices and progressive banking products. Learn more at RCBbank.bank or give us a call at 855.BANK.RCB. Member FDIC, Equal Housing Lender, NMLS #798151
RCB Bank is proud to announce that Gloria Ulbrich will be honored by the Kansas Bankers Association (KBA) as a recipient of the prestigious 50-Year Club Award. This recognition celebrates Gloria’s remarkable five decades of service. Her leadership and dedication have strengthened community banking across Kansas.
The Kansas Bankers Association 50-Year Club Award honors individuals who have dedicated fifty years or more to the banking profession. This distinction recognizes exceptional service, leadership and commitment to advancing community banking across Kansas. Inductees represent the highest standards of integrity and professionalism in the industry.
Gloria’s career exemplifies a lifetime commitment to strengthening local communities through banking excellence. Her contributions have left an enduring impact on customers, colleagues and the industry as a whole.
At RCB Bank, we believe our greatest strength lies in our employees. We are committed to fostering a culture of integrity, service and growth — celebrating employees like Gloria who exemplify these values and make a lasting difference in the communities we serve.
RCB Bank is a community bank with locations across Kansas and Oklahoma. Founded in 1936, RCB Bank is committed to serving its communities with conservative banking practices and progressive banking products. Learn more at RCBbank.bank or give us a call at 855.BANK.RCB. Member FDIC, Equal Housing Lender, NMLS #798151
The holiday season is a time for joy, celebration and generosity—but it can also be a time of financial stress if spending gets out of control. With rising costs and endless temptations, it’s easy to overspend. The good news? A little planning can help you enjoy the season without breaking the bank.
Start with a Clear Budget Before you shop, decide how much you can afford to spend overall. Factor in gifts, travel, food, decorations and any additional activities. A good rule of thumb is to never spend more than you can pay off in full by January. This prevents lingering debt that can overshadow the new year.
Make a List—and Stick to It Impulse purchases are the leading cause of overspending. Write down everyone you plan to buy for and set a spending limit for each person. Use apps or spreadsheets to track your progress and stay accountable to your budget.
Prioritize Experiences Over Things Memories often matter more than material gifts. Consider low-cost traditions like baking cookies, hosting a potluck get-together or going to see Christmas lights together. These experiences can be more meaningful and are easier on your wallet.
Shop Smart Take advantage of sales, but don’t let discounts lure you into buying things you don’t need. Compare prices online, use cashback apps and consider buying in bulk for holiday meals or décor.
Plan for Hidden Costs Don’t forget shipping fees, gift wrap and last-minute outings. Build a small cushion into your budget for these extras so they don’t derail your plans.
Avoid Credit Card Traps If you plan to use credit cards, stick to your defined budget and make it a priority to pay them off quickly. Delaying payment can result in interest charges that turn a holiday deal into a costly mistake.
Start Saving Early for Next Year Once the holidays are over, set up a dedicated savings account for next year’s festivities. Even small monthly contributions can make a big difference when December rolls around again.
Still have questions?
Talk with an RCB Bank Banker or Wealth Advisor today. Visit the website RCBbank.bank or call 855.226.5722.
The opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank. Member FDIC.
When you’re shopping for a mortgage, you may come across the term “mortgage points” or “discount points.” These can be a smart way to lower your interest rate and save money over the life of your loan, but they’re not always the right choice for everyone. Here’s what you need to know.
What Are Mortgage Points?
Mortgage points are fees you pay upfront to your lender at closing in exchange for a lower interest rate on your loan.
How Do They Work?
When you buy points, you will have:
Higher upfront cost at closing
Lower monthly payments for the life of the loan
Potential long-term savings, especially if you plan to stay in the home for many years
The question to ask yourself: Will you keep the loan long enough to recoup the cost of the points? This is called the break-even point—the time it takes for your monthly savings to equal what you paid upfront.
When Does It Make Sense to Pay for Points?
Buying points can be a smart move if:
You plan to stay in your home for a long time
You have extra cash available at closing
You want to reduce your monthly payment and total interest
It may not make sense if:
You expect to sell or refinance in a few years
You’re short on cash for closing costs
You’d rather use funds for other expenses like home improvements
Ready to explore your options?
Contact one of our Mortgage Representatives today to assist you in meeting your homeownership goals!
Opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. For specific questions regarding your personal lending needs, please call RCB Bank at 855-BANK-RCB. With approved credit. Terms, qualifications and other restrictions apply. Member FDIC, Equal Housing Lender. RCB Bank NMLS #798151.
An outstanding achievement was recently announced when Janis Reeser, OBA director of education, and Kathryn Ivey, OBA Compliance School Board chair, named Compliance Analyst Amy Gorey and Compliance Analyst Hunter Smith as the two “Honors Graduates” representing the 2025 class at the OBA Compliance School.
Out of a class of 64 students from banks across Oklahoma, Amy and Hunter were chosen for the Compliance School honors by the school’s regents, staff, faculty and students in August of 2025. They were presented with the Honors Graduate plaques on November 24 at 1:30 p.m. at the RCB Bank Corporate office in Claremore, memorializing their outstanding work on the school’s case studies and their contributions to class discussions.
To be named as an honor graduate is an accomplishment in itself, but for both graduates to come from the same bank is a rarity and speaks volumes about the quality of RCB Bank’s employees.
Amy Gorey and Hunter Smith, both Compliance Analysts at RCB Bank, joined the Compliance department in Claremore on the same day in November 2024. Amy joined RCB Bank in August 2022 as a Customer Experience Specialist, later promoting to a position in Quality Assurance before transitioning to her current role. In addition to working full time, Amy is pursuing an education in Business Administration and expects to graduate with her bachelor’s degree in December 2026. In her current role as Compliance Analyst, Amy serves as the lead for marketing reviews and oversees the bank’s compliance document change management system and library.
Hunter joined RCB Bank in February 2023 as a Customer Experience Specialist, later promoting to a Customer Experience Specialist II before transitioning to his current role in Compliance. Hunter serves as the lead for vendor management review and oversees the bank’s Fair Credit Reporting Act (FCRA) dispute process. Hunter stays current with new and changing compliance laws and regulations, providing monthly updates to senior and executive management.
Both Amy and Hunter conduct Compliance Reviews, Compliance Risk Assessments, consulting and other special projects as needed. Their drive to provide value and deliver quality work is evident daily.
The Compliance School, held annually, equips bank employees with the knowledge and skills required to navigate the complex landscape of laws and regulations governing bank lending and deposit operations.
In recognition of their achievement, Amy and Hunter will serve as advisory board members for one year, contributing to the planning and curriculum of next year’s compliance school. This opportunity aligns with their career goals and showcases RCB Bank’s commitment to fostering leadership within its ranks.
RCB Bank is a community bank with locations across Oklahoma and Kansas. Founded in 1936, RCB Bank is committed to serving its communities with conservative banking practices and progressive banking products. Learn more at RCBbank.bank or give us a call at 855.BANK.RCB. Member FDIC, Equal Housing Lender, NMLS #798151
Grant VanOrsdol originally joined RCB Bank in 2023 as a teller and was quickly promoted to Customer Service Representative (CSR). We are proud to announce his promotion to Retail Coordinator. In this role, Grant supports tellers and other CSRs, ensuring customers receive exceptional service while maintaining the highest standards of bank policy and procedure.
While he always aspired to work in a professional environment, the idea of joining the financial industry wasn’t initially on his radar. Once a teller position became available, Grant decided to take a chance—and it turned out to be a rewarding decision. “After I was hired, I realized that RCB Bank was just the place for me,” Grant recalls. “The family atmosphere and support that RCB Bank provides is next to none.”
Professionally, Grant is driven by a commitment to bringing new business and customers to the bank, ensuring each one receives attentive, timely and professional service. He also strives to maintain smooth and efficient operations within the market, contributing to the overall success of the organization. For Grant, going above and beyond for customers and maintaining a positive attitude are essential parts of the job—values that align well with RCB Bank’s mission and culture.
Outside of his professional life, Grant enjoys long walks with his dog, skiing, traveling and spending quality time with friends and family. In both his personal and professional life, Grant believes in the power of perseverance. When faced with challenges, his approach is simple: keep moving forward.
Looking ahead, Grant’s primary goal over the next five years is to complete his degree at Oklahoma State University. He is committed to working hard and making the most of every opportunity to learn, knowing that continued education will help advance his career. His mindset is clear—give 100%, 100% of the time.
GET IN TOUCH Grant VanOrsdol
Retail Coordinator
417 S. Perkins Rd., Stillwater, OK 74074
405.742.4852 | [email protected]
RCB Bank is a community bank with locations across Oklahoma and Kansas. Founded in 1936, RCB Bank is committed to serving its communities with conservative banking practices and progressive banking products. Learn more at RCBbank.bank or give us a call at 855.BANK.RCB. Member FDIC, Equal Housing Lender, NMLS #798151.
Jadd Munn Promoted to EVP, Regional President
Jadd Munn has been promoted to Executive Vice President, Regional President, to be responsible for markets in Wichita, Lawrence, Hutchinson and Ponca City. He will continue to office in Wichita, Kansas.
He previously served as EVP Market President for the Wichita market after having joined RCB Bank in 2016 in the CornerBank acquisition.
He holds both undergraduate and master’s degrees from Wichita State University and is a graduate of the Graduate School of Banking at Colorado.
“Jadd’s industry knowledge, leadership in customer service and his responsive commitment to our customer success all established him as the ideal candidate for the job,” said Roger Mosier President & CEO of RCB Bank.
Munn credits RCB Bank as the best bank he’s worked for, highlighting its family-like culture and genuine commitment to work-life balance. Outside of work, Jadd is a devoted family man. He and his wife, Summer, are proud parents to Magnolia, Asher and Oliver.
Angela Volosin Promoted to AVP, Regional Retail Coordinator
Angela Volosin has been promoted to Assistant Vice President, Regional Retail Coordinator, overseeing retail operations across the region.
Angela began her banking career in 1996 as a teller and advanced to AVP, Branch Manager of the Wichita CornerBank location in 2014. Following RCB Bank’s acquisition of CornerBank in July 2016, she transitioned into the Wichita Retail Coordinator role.
Volosin is known for her expertise in retail banking operations, staff development and customer service. She credits her career taking shape because of three mentors in her life. “My first boss, Chris Hemphill, transformed me from a small-town farm girl into a professional personal banker. Gloria Ulbrich demonstrated the kind of leader I aspired to become, showing me the importance of guiding with compassion, while developing her staff. My current boss, Jadd Munn, challenges me to think critically and continuously improve.”
Volosin has served as a Big Sister for Big Brothers, Big Sisters in Wichita since April 2019. Outside of work, she enjoys spending time outdoors—hiking and riding ATVs in Colorado—and exploring big cities like New York and Chicago. She is married to John, and has two sons Tyler and Brandon, as well as two beloved labs Rudy and Molly.
Please join us in congratulating Jadd Munn and Angela Volosin on their well-deserved advancements.
GET IN TOUCH
Jadd Munn
EVP, Regional President
NMLS #709606
10501 E. Berkeley Square Pkwy, Wichita, KS 67206
316.247.7693 | [email protected]
Angela Volosin
AVP, Regional Retail Coordinator
8411 E. 21st St. N, Wichita, KS 67206
316.669.6074 | [email protected]
RCB Bank is a community bank with locations across Kansas and Oklahoma. Founded in 1936, RCB Bank is committed to serving its communities with conservative banking practices and progressive banking products. Learn more at RCBbank.bank or give us a call at 855.BANK.RCB. Member FDIC, Equal Housing Lender, NMLS #798151
RCB Bank is proud to announce the promotion of two outstanding leaders.
Gregg Conklin Promoted to EVP, Regional President
Gregg Conklin has been promoted to Executive Vice President, Regional President, overseeing operations across 13 markets in the Community Region including Vinita, Langley, Monkey Island, Bartlesville, Blackwell, Cushing, Drumright, Caney, Arkansas City, Winfield, Wellington, Oxford and Douglass. He will continue to office in Winfield, Kansas.
Conklin has served as SVP, Market President for Winfield, KS, since 2019. He joined RCB Bank in 2016 through the CornerBank acquisition. Over the years, he has cultivated a broad and loyal customer base spanning multiple counties in Kansas and northern Oklahoma, positioning him well for this expanded leadership role.
He holds a B.S. in agricultural economics from Kansas State University and is a graduate of the Graduate School of Banking at Colorado (GSBC), where he now serves as a student advisor. Conklin is involved in his community, having served on advisory councils for Southwestern College, Winfield High School and Cowley County Economic Development, among others. He volunteers with Habitat for Humanity and Winfield Isle of Lights and finds joy in mowing the church lawn.
Outside of work, Gregg and his wife Susan love to spend time with their family. Their children include Tyler and Coleen Conklin of Severance, CO, Matthew and Katie Conklin of Hanover, NH, and Adam and Kolbi Conklin of Winfield, KS, and three grandchildren Gabriel, Luke and Silas.
Tara Depperschmidt Promoted to AVP, Regional Retail Coordinator
Tara Depperschmidt has been promoted to Assistant Vice President, Regional Retail Coordinator. She will continue to office in Stillwater, Oklahoma.
Depperschmidt began her banking career in 1999 as a part-time teller and joined RCB Bank through the Home National Bank acquisition in 2010.
Her leadership style is rooted in servant leadership. “I would never ask someone to do something I wouldn’t or haven’t done myself,” she says. “Watching others grow and knowing I had a small part in their journey—that’s what drives me.”
Outside of work, Tara and her husband Chad raise honeybees. She also enjoys reading and crafting. Her volunteer work includes serving on the Board of Directors for Turning Point Ranch, an equine therapy nonprofit, and being a listener at Stillwater Bible Church’s Wednesday Night Kid’s Club, helping children memorize Bible verses.
Please join us in congratulating Gregg Conklin and Tara Depperschmidt on their well-deserved achievements and promotions.
GET IN TOUCH
Gregg Conklin
EVP, Regional President
NMLS #637822
900 Main St., Winfield, KS 67156
620.221.5096 | [email protected]
Tara Depperschmidt
AVP, Regional Retail Coordinator
417 S. Perkins Rd., Stillwater, OK 74074
405.742.4854 | [email protected]
RCB Bank is a community bank with locations across Kansas and Oklahoma. Founded in 1936, RCB Bank is committed to serving its communities with conservative banking practices and progressive banking products. Learn more at RCBbank.bank or give us a call at 855.BANK.RCB. Member FDIC, Equal Housing Lender, NMLS #798151.
Hutchinson, KS – Andrew Kroeker brings six years of farm management experience to his new role as an Agricultural Loan Officer, with a deep understanding of the highs and lows of the farming industry. He is excited to support farmers and ranchers in creating successful and sustainable operations—through both the good times and the tough ones.
Andrew joined RCB Bank in August 2025, drawn to its mission of serving the community and helping customers thrive. “My impression of working at RCB Bank has been nothing but positive,” Andrew shared. “The people are wonderful from the top down, and the atmosphere is genuine.”
Andrew is motivated by building lasting relationships, helping customers navigate challenges and playing a small part in keeping farms strong for the next generation. He also likens good business to farming—emphasizing the importance of timing, care and patience in cultivating success. These perspectives reveal a thoughtful, grounded approach to leadership and decision-making.
Outside of his professional life, Andrew serves on the board of his church and the McPherson County Extension Executive Board. He enjoys staying active through golf, volleyball and pickleball—sports that have been a meaningful part of his life since childhood. He cherishes time with his wife, Caitlin, and the two are overjoyed at the arrival of their first child. Their energetic Blue Heeler, Bandit, has taken on the role of vigilant guardian.
Andrew’s goal is to serve RCB Bank’s existing clients with excellence while cultivating new, long-term relationships founded on trust and reliability. He focuses on being genuine, consistent and responsive so customers know they can rely on him, a mission he pursues with both professionalism and heart. He looks forward to making meaningful contributions to both RCB Bank and the wider community.
RCB Bank is a community bank with locations across Oklahoma and Kansas. Founded in 1936, RCB Bank is committed to serving its communities with conservative banking practices and progressive banking products. Learn more at RCBbank.bank or give us a call at 855.BANK.RCB. Member FDIC, Equal Housing Lender, NMLS #798151.
Norman, OK – Hannah Dailey recently joined the team as a Treasury Services Representative, where she supports both new and existing clients with online treasury solutions designed to help their businesses grow and operate efficiently. With over 15 years of experience in the banking industry, Hannah has developed a deep understanding of various banking functions—from her early days as a teller to roles in operations, commercial lending and treasury management.
Her career began at the teller line, eventually leading to a promotion into the commercial loan department. She later transitioned into Treasury Management at another financial institution, where she spent several years before being promoted to Note Operations Manager within the credit division. Although she gained valuable experience in credit, Hannah discovered her true passion lies in Treasury Services and she has remained dedicated to this field ever since.
Hannah’s journey to RCB Bank was sparked by a recommendation from a friend. From her very first interview, she felt a strong connection to the Bank’s values and culture. Though she’s only been with RCB Bank for a few weeks, she already describes it as feeling like home. She believes RCB Bank to be a humble institution that genuinely prioritizes its customers over profits or empty promises.
Known for her upbeat attitude and strong work ethic, Hannah prides herself on delivering exceptional customer service. Her clients often describe her as quick, fun and efficient—qualities she brings to every interaction as she builds trust and goes above and beyond to meet their needs.
Outside of work, Hannah enjoys spending time with her husband, Jordan, and their two boys. Family time is a priority, and she values the balance between her professional growth and personal life.
Looking ahead, Hannah aspires to grow into a leadership role, overseeing larger projects and implementations. She is also preparing to take the Certified Treasury Professional (CTP) exam to further enhance her expertise and career development.
GET IN TOUCH Hannah Dailey
Treasury Services Representative
RCB Bank is a community bank with locations across Oklahoma and Kansas. Founded in 1936, RCB Bank is committed to serving its communities with conservative banking practices and progressive banking products. Learn more at RCBbank.bank or give us a call at 855.BANK.RCB. Member FDIC, Equal Housing Lender, NMLS #798151.
Claremore, OK – Carson Draeger has been promoted to Loan Officer at RCB Bank, bringing a deep commitment to customer service. Carson began her professional career as a credit analyst with RCB Bank after graduating from the University of Central Oklahoma with a degree in Finance. She credits RCB Bank with giving her the foundation to launch her career and is proud to continue growing within the organization.
Born and raised in Chelsea, Oklahoma, Carson has a deep appreciation for her community. Carson describes RCB Bank as family-oriented and deeply supportive of the communities it serves. She has enjoyed witnessing the growth in her hometown and values being part of a bank that invests in that progress.
She recently celebrated a summer wedding with her husband and enjoys spending time outdoors—whether that means hiking, swimming, playing pickleball or simply enjoying good food. She jokes that most of her favorite activities come with the risk of sunburn. To unwind after work, she makes time for exercise, which helps her recharge and find balance outside the office.
Faith plays a central role in Carson’s life, shaping her decisions and guiding her interactions with others. Her commitment extends into her community as well, where she actively serves in her local church as a Sunday school teacher and small group leader for teenage girls. For several years, she has also dedicated her time as a volunteer softball coach at the local school.
Looking ahead, Carson strives to remain teachable in every stage of her career. She is committed to personal and professional growth and credits her mentors for providing guidance, encouragement, and wisdom that have helped shape her path.
GET IN TOUCH Carson Draeger
Loan Officer
NMLS # 2748430
511 W. Will Rogers Blvd., Claremore, OK 74017
918.342.7399 | [email protected]
RCB Bank is a community bank with locations across Oklahoma and Kansas. Founded in 1936, RCB Bank is committed to serving its communities with conservative banking practices and progressive banking products. Learn more at RCBbank.bank or give us a call at 855.BANK.RCB. Member FDIC, Equal Housing Lender, NMLS #798151.
Broken Arrow, OK – Starting her journey in banking at 19 as a part-time teller while navigating college, Julie’s dedication and passion for banking soon led her to a full-time position. Now, with a mix of customer-facing and back-office roles, from deposits to corporate compliance, Julie is ready for her new role at RCB Bank.
Julie had her initial exposure working on loans when she transitioned to the Loan Department as a Loan Administrative Assistant, where she worked closely with many lenders at the bank. Her career then took her to the corporate offices, where she excelled as a Compliance Analyst. Julie is now returning to the branch world as a Mortgage Outreach Specialist.
Being fluent in Spanish and English along with her diverse background across various bank departments, Julie is an asset to RCB Bank’s Mortgage Department. Known for her exceptional ability to create and maintain friendly relationships with customers and coworkers, she is always ready to tackle any project.
When she is not at work, Julie enjoys spending time with her dog, Bloom. She believes in investing time in herself and her loved ones to maintain a healthy work-life balance. She is driven by her competitive nature and a desire to set higher standards, giving her fulfillment in assisting others in difficult situations. Fairness and accountability are the principles guiding her in daily decisions.
Over the next five years, Julie aims to continue her professional development at RCB Bank with a primary focus on continuing to grow with the bank and making a positive impact. Julie’s journey is a testament to her dedication, adaptability and commitment to excellence in the banking industry.
Julie feels incredibly fortunate to have found RCB Bank as her first major job, which has significantly shaped her career. She values the relationships she has built across various departments and roles within the bank.
RCB Bank is a community bank with locations across Oklahoma and Kansas. Founded in 1936, RCB Bank is committed to serving its communities with conservative banking practices and progressive banking products. Learn more at RCBbank.bank or give us a call at 855.226.5722. Member FDIC, Equal Housing Lender, NMLS #798151.
When shopping for a mortgage, understanding the Annual Percentage Rate (APR) is essential to grasping the true cost of your loan. While the interest rate tells you how much you’ll pay each year to borrow the principal, the APR goes further by including not just the interest, but also most fees and other charges associated with the loan, such as origination fees, closing costs and mortgage insurance. Both are expressed as percentages, but APR is almost always higher because it reflects the total annual cost of borrowing, not just the base interest.
The distinction matters because lenders may advertise low interest rates to attract borrowers, but these rates don’t account for the extra costs that can significantly impact your total payment. The APR provides a standardized way to compare offers from different lenders, ensuring you’re not caught off guard by hidden fees or charges down the road. Thanks to federal regulations, lenders are required to disclose the APR, making it a reliable metric for side-by-side comparisons.
When comparing two loans with the same interest rate but different APRs, the loan with the lower APR will generally cost you less over time, assuming you keep the loan for its full term. However, if you plan to refinance or sell your home early, the APR may not fully capture your actual cost, as some fees are spread over the life of the loan.
Understanding APR empowers you to make informed decisions and select the mortgage that best fits your financial goals.
Contact one of our Mortgage Representatives today to assist you in meeting your homeownership goals!
Opinions expressed above are the personal opinions of the author and meant for illustration purposes only. For specific questions regarding your personal lending needs, please call RCB Bank at 855-BANK-RCB. With approved credit. Terms, qualifications and other restrictions apply. Member FDIC, Equal Housing Lender, RCB Bank NMLS #798151.
Property taxes are a significant part of homeownership, directly influencing your monthly expenses and long-term financial planning. Here’s what homeowners need to know about how these taxes are calculated, collected and paid-especially when a mortgage is involved.
Property taxes are determined by multiplying your home’s assessed value by the local tax rate. The assessed value is set by a government assessor and may differ from your home’s market value. Local governments set the tax rate, often expressed per $1,000 of assessed value and this rate can change annually based on budgets and revenue needs. Exemptions or deductions, such as those for primary residences or veterans, can reduce your taxable value.
For most homeowners with a mortgage, property taxes are paid through an escrow account managed by the lender. Here’s how it works: your lender estimates your annual property tax bill, divides it by 12 and adds that amount to your monthly mortgage payment. Each month, the lender deposits this portion into your escrow account. When your property tax bill is due, the lender pays it directly from this account, ensuring timely payments and helping you avoid large lump-sum bills.
This system is especially common if your down payment was less than 20% or if you have a government-backed loan (like FHA or VA). In some cases, if you have significant equity, you may be allowed to pay property taxes directly instead of through escrow.
Contact one of our Mortgage Representatives today to assist you in meeting your homeownership goals!
Opinions expressed above are the personal opinions of the author and meant for illustration purposes only. For specific questions regarding your personal lending needs, please call RCB Bank at 855-BANK-RCB. With approved credit. Terms, qualifications and other restrictions apply. Member FDIC, Equal Housing Lender, RCB Bank NMLS #798151.
Homeowner’s insurance is a crucial safeguard for both your investment in your home and the lender’s financial interest when you have a mortgage. This insurance provides a financial safety net against unexpected events such as fire, theft, storms and other covered perils, ensuring that you are not left to bear the full cost of repairs or rebuilding on your own. In addition to protecting the physical structure, homeowner’s insurance covers your personal belongings and offers liability protection if someone is injured on your property or if you inadvertently cause damage to others.
For most homeowners with a mortgage, insurance is not optional. Lenders require proof of coverage to protect their investment and many integrate the insurance premium into your monthly mortgage payment through an escrow account. This arrangement simplifies your finances by combining principal, interest, taxes and insurance into a single payment. The lender then pays your insurance premium directly when it’s due, helping you avoid lapses in coverage.
Homeowner’s insurance is not the same as mortgage insurance; it is designed to protect your property and belongings, not just the lender’s risk. Even after your mortgage is paid off, maintaining coverage is strongly recommended to protect your home-the largest investment most people ever make.
Contact one of our Mortgage Representatives today to assist you in meeting your homeownership goals!
Opinions expressed above are the personal opinions of the author and meant for illustration purposes only. For specific questions regarding your personal lending needs, please call RCB Bank at 855-BANK-RCB. With approved credit. Terms, qualifications and other restrictions apply. Member FDIC, Equal Housing Lender, RCB Bank NMLS #798151.
Homebuyers in 2025 face a challenging landscape: home prices are expected to keep rising, though at a slower pace, and mortgage rates remain elevated, hovering near 7%. Inventory is improving but still below balanced market levels and affordability remains a top concern for many Americans. While waiting for a dramatic drop in prices or rates is unlikely to pay off, there are practical strategies buyers can use to navigate these conditions.
First, consider expanding your search to markets with more inventory or where prices are stabilizing or even declining. Some regions, such as parts of Texas and Florida, are seeing price drops due to increased supply, while others-especially in the Northeast-continue to experience price growth. Flexibility on location could yield better value.
Second, explore mortgage options beyond the traditional 30-year fixed loan. Adjustable-rate mortgages (ARMs) or shorter-term loans may offer lower initial rates, which could be advantageous if you expect rates to fall in the coming years or plan to refinance. Additionally, many builders are offering incentives, including rate buydowns or price reductions, which can help offset higher borrowing costs.
Lastly, strengthen your financial profile. A higher down payment, improved credit score and pre-approval can make you a more attractive buyer and potentially secure better loan terms. In a competitive market, being ready to act quickly is essential.
Contact one of our Mortgage Representatives today to assist you in meeting your homeownership goals!
Opinions expressed above are the personal opinions of the author and meant for illustration purposes only. For specific questions regarding your personal lending needs, please call RCB Bank at 855-BANK-RCB. With approved credit. Terms, qualifications and other restrictions apply. Member FDIC, Equal Housing Lender, RCB Bank NMLS #798151.
Claremore, OK – Catherine Woldridge brings over four decades of experience in community outreach and social services to RCB Bank. Renowned for her dedication to community engagement and successful fundraising for local non-profits, Catherine is a trusted leader. Her passion and experience make her an invaluable asset to the RCB Bank team and community.
Catherine’s early life was shaped by international experiences, as her family lived abroad due to her parents’ work. Returning to the United States for high school, she later earned a Bachelor of Science in Family Relations and Child Development from Oklahoma State University. In 1997, she married Roger Woldridge, and together they are active members of Cedar Point Church, participating in ministries that serve local youth and families. Their blended family includes eight grandchildren and they enjoy spending quality time with them.
Professionally, Catherine began her career with the Department of Human Services in Tulsa, focusing on family services and managing the licensing of childcare facilities. After retiring in 2014, she joined United Way, ultimately overseeing programs across multiple counties. In 2025, she transitioned to a part-time role at RCB Bank, where she continues her passion for community involvement.
Catherine values strong communication and is known for her approachable and solution-oriented nature. She enjoys connecting people to resources and solving community challenges. When asked why she chose RCB Bank, Catherine states, “The supportive environment at RCB Bank and the opportunity to continue learning have made this new chapter especially rewarding, allowing me to balance meaningful work with family life.”
GET IN TOUCH Catherine Woldridge
Community Outreach Coordinator
RCB Bank is a community bank with locations across Oklahoma and Kansas. Founded in 1936, RCB Bank is committed to serving its communities with conservative banking practices and progressive banking products. Learn more at RCBbank.bank or give us a call at 855.BANK.RCB. Member FDIC, Equal Housing Lender, NMLS #798151.
In today’s unpredictable world, an emergency fund is a cornerstone of financial security for every family. An emergency fund is a dedicated pool of savings set aside specifically for unexpected expenses like medical bills, urgent car repairs or sudden job loss preventing reliance on high-interest credit cards or loans in a crisis. This financial buffer not only helps you manage surprises but also provides peace of mind, knowing you’re prepared for life’s uncertainties.
How to Calculate Your Emergency Fund
The standard recommendation is to save three to six months’ worth of essential living expenses. Start by listing your monthly necessities: housing, utilities, groceries, insurance and transportation. Multiply this total by the number of months you want to cover. For example, if your monthly expenses are $3,000, aim for $9,000 to $18,000 in your emergency fund. Households with variable incomes, dependents or higher medical costs should consider saving toward the higher end of this range.
Building and Replenishing Your Fund
Building an emergency fund can feel daunting, but starting small makes it manageable. Begin with a modest goal, such as $500 or $1,000 and gradually increase your savings. Set up a budget to identify areas where you can cut costs and redirect those savings into your funds. Automating transfers to a separate, easily accessible account, like a high-yield savings or money market account, ensures steady growth and reduces the temptation to spend. If you need to use your emergency fund, replenish it by continuing your savings habits and, if possible, supplementing your income through side jobs or selling unused items.
Why It’s Essential
An emergency fund acts as your financial safety net, shielding you from debt and stress when unexpected expenses arise. In uncertain times, it’s not just about surviving financial shocks, it’s about maintaining stability and protecting your family’s future.
Do you still have questions? Talk with an RCB Bank Banker or Wealth Advisor today.
The opinions expressed above are the personal opinions of the author and meant for generic illustration purposes only. RCB Bank. Member FDIC.
