Make a list of all of your debts. Include the balance owed and the interest rate for each account you have. This way you will be able to view the full picture and it will help you come up with a plan for repayment and which one works best for you. Here are two common strategies:
• Debt Snowball Method: List all of your debts smallest to largest by amount owed. Pay minimum payments on all debts except for the smallest one. Increase your payment amount on the smaller account until it’s paid off. Once it’s paid off, take the money you were paying towards that debt, and put it towards the next debt on the list. This method will give you the quickest satisfaction and boost to keep it up.
• Debt Avalanche Method: List all of your debts in order from the highest interest rate to the lowest interest rate. Pay minimum payments on all debts, except for the debt with the highest interest rate. Increase your payment on this debt until it’s paid off. Once it’s paid off, take the money you were paying towards that debt, and put it towards the next debt on the list. This method will save you from paying more money on interest long term.
Make sure you continue to pay your minimum monthly payments on each debt before putting extra funds towards the debt you are aiming to pay off to avoid late payments and service charges.
An alternative you may wish to consider if you have several smaller debts with high interest is a loan to consolidate your debt. This option may help manage your debt and make repayments easier. Contact a Citizens Bank Personal Banker today to discuss this option further.
We are currently experiencing issues with incoming calls. You may be getting a message saying “all circuits busy”. Phone calls coming from Mediacom users and cell phones should be working. Nu-Telecom is working on the issue. We apologize for any inconvenience this may be causing our customers.
The Shazam Network is Citizens Bank’s processor for ATM/Debit Cards and the provider of merchant services. Linnea and Lori, CB employees, attended this year’s Forum in Des Moines, IA. Shazam’s 2015 Forum provided attendees with the latest industry information and trends, including the move to EMV (Chip) Card techonology, fraud trends and cardholder services such as Shazam Bolt$ (a fraud transaction alerting, balance monitoring, ATM locator application).
Foundation Annual Meeting: Giving back to our community!
In 2014, the Burich Foundation was honored to help with three requests:
- Park & Rec Tackle Football program to purchase 50 football helmets
- Hutchinson Center for the Arts – South Fork Film for purchase of inflatable outdoor movie screen
- ISD #423 to purchase 50 football helmets (varsity & middle school)
The I.J. Burich Family Foundation was also honored to serve the following organizations:
- United Way of McLeod County – Dolly Parton Imagination Library project
- Early Childhood Family Education Incredible Years Parenting Class
- Crow River Drumline Association Scholarships
- Equul Access, Inc. to purchase horse trailer
- ISD #423 to purchase choral risers, acoustic shells and storage carts for Park Elementary
- Crow River Area Youth Orchestra (CRAYO) field trip to MN Orchestra performance
- ISD #423 for Hutch Tiger Sharks starting blocks
- ISD #423 for West Elementary School Readiness program materials
- Crow River Habitat for Humanity – computers, printer, etc. for office
- Hutchinson Health Care Foundation Harmony River Senior Care Facility
- Pioneerland Library System – Hutchinson Public Library1000 Books Before Kindergarten
After 43+ years as a Citizens Bank employee, Sue Homan has retired! She started her CB career in 1971 as a Teller and became the Teller Supervisor in 1983. Sue remained in that position until she retired. Sue is looking forward to spending more time with her growing family, which now includes three grandchildren. She also plans to spend time enjoying her quilting and soap making hobbies. Sue and her husband, Ed, will continue to enjoy trips to their northern Minnesota lake place. We will miss Sue’s outgoing personality around the Bank. We thank her for many years of dedicated service and wish her the best in retirement!
Recently, the Minnesota Bankers Association (MBA) recognized our Bank for the level of involvement we have in our community. We were one of 21 banks in the State honored for working with our community by providing funding, volunteers, materials, supplies or food for our neighbors. According to Joe Witt, President of the MBA, “Minnesota banks are the heart and soul of their communities. In addition to providing the capital that helps communities grow and thrive, the record of supporting local programs is simply unmatched.”
Now you can “skip the trip” to the bank with Mobile Deposit. Here are a collection of handy tips and instructions about the service. Make sure you are a CB Online Banking customer before you download the mobile app. Contact us if you have any questions.
Tips for using Mobile Deposit
- Before logging into the Mobile Deposit app, close all other apps running in the background
- Sign/Endorse the back of your check, and label it “For Mobile Deposit Only”
- Make sure that the entire check image is visible and in focus – all four corners should be visible
- Flatten folded or crumpled checks before taking your photos
- Take the photos of your check in a well-lit area
- Place the check on solid dark background before taking the photo
- The MICR line (numbers on the bottom of your check) is readable
- Launch the App and select “Deposit” button
- Select “New Deposit”
- Enter the amount of the deposit and click “Continue” which will open your camera, requesting front and back of pictures to be taken
- Image should be in focus and select “Use Photo” otherwise select “Retake.” Repeat the process for the back of the check
- Select the “Use Photo” button to send images to the Bank
- The Confirm page is displayed. Select “Yes” to the question: “Do you wish to deposit this check?”
- The Results page is displayed indicating the deposit is pending
For more information, go to our Personal Banking Page and select Mobile Deposit.