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January 2013 Newsletter


Message from the President

story1_photo.pngDear Customer,

Happy New Year!  Our country survived the fiscal cliff!  Now our representatives get to deal with the debt ceiling.  As Gilda Radners' character Rosanne Rosanna Danna used to say on Saturday Night Live, "It's always something".  There are plenty of other sources to bombard you with doom and gloom so I'll spare you my take.

Let's talk about relationships.  What do you expect from your bank?  Always being there?  Helping out in a fix?  Taking the time to really listen to your needs?  At Guaranty Bank, we know our future depends on great customer relationships. We also know as customers' needs change, we need to anticipate and change as well.  And we're doing just that.

To more effectively serve your loan needsMortg_Small.jpg we made some organizational changes last year.  Dan Erusha, NMLS 747337, who you probably saw on our billboard on Interstate 380, leads our mortgage lending and is conveniently located in our Marion branch on 7th Avenue/Highway 151 right across the street from Burger King.

We're so confident of how competitive our rates are that we publish our mortgage rates in every Sunday in the Cedar Rapids Gazette.    Jason Rabe, NMLS 583667, at our Fairfax branch and Eric Van Hook, NMLS 583847, at the 42nd Street branch, the other two handsome fellows on the billboard, can help you find the mortgage product that works for you.

I'm always disappointed when someone says to me "Oh, I didn't know that Guaranty Bank & Trust made those types of loans!"  Guaranty is a full-service bank providing a wide range of ways to manage or save money and the same wide-range of loan products for individuals and businesses. Loans could be for remodeling a home, buying a new home, buying a new or used car, refinancing a business, you name it and we can probably find a way to help you.   As a locally-owned and locally-run bank, we know what the value of great relationships and we are here to serve you.

We're always looking for feedback.  Please take a few minutes to drop me a note at clindell@guaranty-bank.com to let me know what's on your mind.  From the messages we receive by March 1, 2013 we will randomly select four to receive $50 Visa gift cards.   Be sure to include your address and phone number.

As always, thank you for banking with Guaranty Bank & Trust

Chris Lindell
President
NMLS 747524

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Take a step in the right direction to higher rates with our Step-Up Certificate of Deposits*

Step-Up_MOE.jpgWho doesn't want a little peace of mind in this uncertain rate environment? Now you can stop limiting yourself to short term lower rates in fear you'll miss out when rates start to climb.

Guaranty Bank is offering two CD term options for you to choose from.  Our 36 month Step-Up CD gives you one opportunity to step-up your rate once and our 48 month Step-Up CD lets you step-up twice!

With Guaranty Bank's "Step-Up" Certificate of Deposit, you lock your CD in for a longer term to take advantage of higher rates. Then when the time is right you can "Step-Up" your current CD rate to a new 36 or 48 month Step-Up CD with a higher rate, you can, with no penalty.  Plus there is no penalty if you need to cash in early in the event of a catastrophic medical situation or long term care for any of the owners.

Talk to any of our branch staff for more details or stop in to open your "Step-Up" CD today.

*For personal use only

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Four Reasons You Should Balance Your Checkbook Monthly


Balance.pngBe honest.  Do you faithfully balance your checkbook to the penny each month? Balancing your checkbook is one of the most basic habits for good money management, yet millions of Americans don't do it on a regular basis.  I've met people who never record the pennies on the checks they write; people who enter bogus amounts in their check register to "fool" themselves into thinking they have less money than they really do so they can be pleasantly surprised later, or to provide a cushion for errors; people who only balance their checkbook once a year when they do their taxes.

Is balancing your checkbook an old-fashioned task that is no longer necessary?

Here are four reasons you should balance your checkbook monthly: 

  1. Balancing your checkbook is a method of verifying that your records (your checkbook register) match the bank's records, as shown on your monthly bank statement.  This will always be an important task,
    although the method of accomplishing it is changing in the electronic age.
  2. Although your bank processes thousands of transactions accurately, it can make mistakes, and you typically have only 60 days in which to inform the bank of the error.  If you don't balance your checkbook monthly, you might not even find the error in 60 days.  Even more likely is the possibility that you made a math error in your checkbook register, which you're unlikely to find unless you balance your checkbook each month.
  3. If you make a mistake or forget to post an ATM withdrawal, debit card purchase, or other transaction in your checkbook register, you may start bouncing checks and incurring fees, which are often $28 or more for each returned check.  If you don't correct the problem quickly, you can often incur a number of returned check fees or more than one fee for the same check if the person the check was written to re-deposits it right away in the hopes that your balance will now cover the sum.
  4. If there is a problem at some point, it's much more difficult to wade through months of transactions to figure it out. If you've balanced your checkbook every month, the most you'll ever have to do is look at the most recent month's transactions.  Sometimes people make such a mess of their checkbook by not balancing regularly that they have to close out their account and open another one.

Unfortunately, the basic money management task of balancing our checkbooks is not taught in most schools and usually not taught by our parents.  If you're just starting out on your own, or you have your first bank account, or you just never got in the habit of balancing your checkbook regularly, the following link include simple, step-by-step instructions for doing it, and an easy-to-use checkbook balancing form.

 

Source:

http://financialplan.about.com/cs/personalfinance/a/CheckbookBalanc.htm

 

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Go Green with E-Statements

Shred.pngDo you open your statements, or just toss them out with the rest of your junk mail? Or do you shred it after taking a quick look just to make sure nothing crazy happened? You don't have to deal with the gut wrenching scenario of never receiving it or if someone else got a hold of it.

However you manage your monthly paper bank statements, switching to our e-statements makes sense in many ways.

Have a personal banker help get you started. We'll give you a tutorial of just how easy it is for you to have all the access to your accounts you could ever need. Your banker will set you up with internet banking so you can see transactions as they happen.  .

After getting the basics down with internet banking, you are on your way to a greener life. Simply click on the "e-statements" button, agree with the terms and you're done! There you have it. Statements for all your accounts right in front of you.

Every month when your statement is created, you'll receive an email letting you know it's ready. Go to Guaranty's website (www.Guaranty-Bank.com) and get started!

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Brainy Bits

Trivia, riddles and more to keep your brain in tip top shape

Brainybits.pngSee if you can figure this out.

1.) What percentage of U.S. consumers now uses bill pay?

2.)How many ways can someone make change for a dollar?

Did you know?

~If only 20% of American households switched from paper to electronic bills, statements and payments each year, the collective impact would...

  • Save 150,939,615 pounds of paper
  • Save 1,811,275 trees
  • Avoid producing almost 2 million tons of greenhouse gases
  • Avoid creating over a billion gallons of wastewater during paper production
  • Avoid using over 100 million gallons of gas to mail payments

~If you toss a penny 10,000 times, it will not be heads 50% of the time, but more like 49%. The heads picture weighs more, so it ends up on the bottom. So always pick tails, you have a slightly better chance.

Answers:

1.) 73.5%

2.) 293 ways

Sources:

http://www.factbrowser.com/tags/online_banking/

http://2ndgreenrevolution.com/2011/02/11/five-friday-facts-e-statements/

http://www.delraycc.com/InterestingMoney/12MoreAmazingMoneyFacts/tabid/183/Default.aspx

 

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