Category archives for: Smart About Money

Smart About Money: Banking Advice

This is not just about Canton Co-operative Bank, though that is obviously the bank I know best. From my previous career as a bank examiner, I know that what I am about to say is true of many, many community banks throughout New England and nationwide. Day-to-day money management is a huge part of people’s […]

Smart About Money: Financing Tips

A gentleman came into the bank to get an objective opinion on a car loan he was considering. “The people at the dealership asked me what I was looking to pay a month,” he told me. “And that’s the amount the payment is. I can see that. But it looks like this car loan goes […]

Smart About Money: Preventing Embezzlement

There are a couple of situations when a local business owner should absolutely take action to determine if someone is abusing your trust and embezzling from your business. If you have a nagging feeling that someone could be embezzling from you — that something is “off” somehow — chances are your intuition is correct. If […]

Smart About Money: Beware of Scams

Bruce Murphy is the owner of Bruce’s Floor Cleaning Service here in Canton and I have his permission to share this story with you. One day in the mail, Bruce received a letter from the “Embassy Lottery Company of New York & London.” There was a check in the letter, drawn on the Presidio Bank […]

Smart About Money: January Jumpstart

Even people who are super-organized with their finances often don’t have things set up so that anyone could come in and carry on for them in case of an emergency. Whether that’s the one step you haven’t taken yet or you’re just deciding to get more organized with your finances, this is a particularly auspicious […]

Smart About Money: It’s a Wonderful Life

Community bankers often hear that their bank reminds customers of the Bailey Bros. Building & Loan from the classic 1946 movie It’s a Wonderful Life. Which is a great compliment. What was it about the Bailey Bros. Building & Loan that people still remember it so specifically and so fondly seven decades later? A couple […]

Smart About Money: Why leave the home you love?

I recently met with a couple in their very early 70s who were starting to think about downsizing. Why? Basically, because they were under the impression that it was “what everyone did,” that it was the “right thing to do” and they wanted to be “prudent.” They were considering buying a condo and were wondering […]

Smart About Money: Rogue Banks

I never thought I’d find myself writing those words. But as more news comes out about what Wells Fargo was doing to its customers, that’s the only way to describe them. Wells Fargo was a rogue bank. In order to show ever-increasing marketing share and revenue growth to Wall Street, Wells Fargo put so much […]

Smart About Money: Realities of Probate

A family came into the bank recently to make a withdrawal from the savings account of their beloved mother, who had just died. Specifically, they wanted to get the money she had set aside for her funeral plus the amount she’d left in her will to her granddaughter, who had long planned to use the […]

Smart About Money: Credit Reports

A question about credit reports that I have never seen addressed before came up the other day. “I always hear we should check our credit reports annually,” a bank customer said. “So I do. But I don’t even know what I’m looking for, or if it’s really important to check them at all. Am I […]

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