Now may be the time for a larger purchase or consolidating debt since interest rates are so low

Here are a few tips to take advantage of the current low interest rates:

First things first- before you get all crazy applying for loans or new credit cards, make sure you know your credit score. A score of 680 will get you the best of the low interest rates. If your score is lower, reduce your debt, fix errors on your credit report and pay your bills on time to give it a boost!

Consolidate your debt- instead of dealing with multiple interest rates; consolidate your debt into one low-interest loan. Why deal with multiple payments at higher interest rates? Banks have also been relaxing their lending standards, so it may be the right time to apply for a home equity line of credit to make home improvements or consolidate debt.

Be selective- if you’re looking for a new credit card, don’t just accept the first offer you get in the mail. Shop around and do research to find which cards have the lowest interest rates with the best benefits.

Go big- low interest rates make it easy to finance large purchases like TVs, cars and homes. If your credit score is good (and you should know by following our first tip!) you should be able to get great financing terms.

Save, save, save- just because interest rates are low now doesn’t mean they’ll stay that way. We all know how volatile the economy can be, so keep pumping money into your savings account. A Certificate of Deposit that earns higher interest is a great way to lock some money away and let it grow for the future.

Whatever you decide to do with your finances, make sure you think it through and have backup plans. Snap decisions are often wrong ones. If you need assistance, the staff at Security State Bank is more than happy to help. We hope to see you in one of our branches soon!

You can create your own money tree by saving on various small items all year long!

Here are 10 tips to help you save $3 a day:

• Skip the coffee shop before work.  Instead, make coffee and breakfast before you head out the door.

• Read magazines online or at the library instead of buying a copy in the check-out lane.

• Bring your lunch to work. Packing your lunch with last night’s leftovers makes your dollars go even farther.

• Cancel your gym membership.  Find ways to exercise at home or go for a walk outside.

• On your next trip to the grocery store, save money by comparing prices and buying generic brands instead of name brands.

• Make handmade cards or baked goods for friends and relatives celebrating birthdays or special occasions instead of buying cards and gifts.

• Take advantage of coupons provided in your local newspaper or by third-party online coupon providers.

• Rent a movie to watch with your family at home instead of hitting up the theater.

• Find someone at work to carpool with. With the price of gas, this could save you a lot more than $3 a day!

• Clean out your closets. Take clothes your family no longer wears to a consignment shop that will give you a cut of the profits.

These are just a few ways Security State Bank recommends to help save a little money. Even though it may only seem like a little bit, doing small things like these builds up your account over time instead of decreasing it. If you have any other questions about saving money or any of our services, please don’t hesitate to contact any of our branches today!

While mobile and online banking are convenient, consumers still need to be vigilant when using this technology.

Security State Bank urges consumers to be cautious when using mobile devices to do their banking. Following a few simple steps can prevent a big headache later. Security State Bank offers the following tips to protect your information:

• Avoid storing sensitive information like passwords and social security numbers on your mobile device.
• Password protect your mobile device and lock it when you’re not using it.

• Be aware of your surroundings. Don’t type any sensitive information if others around you can see.

• Log out completely when you complete a mobile banking session.

• Protect your phone from viruses and malware just like you do for your computer by installing mobile security software.

• Download the updates for your phone and mobile apps.

• Use discretion when downloading apps.

• If you change your phone number or lose you mobile device, let your financial institution know right away.

• Monitor your accounts regularly and report suspicious activity to your financial institution immediately.

Along with these best practices when it comes to security online, you should also know that Security State Bank takes both physical and technological measures to ensure that your online banking, financial and personal information is safe and protected at all times. You have trusted us with the information, something that we don’t take lightly.

If you have any questions regarding our Online Banking, Privacy Policy or other Security State Bank services, feel free to contact the branch location nearest you!

The BauerFinancial Five Star award is a symbol of stability and instills confidence in customers that they are in great hands.

In order to help consumers know which banks are in the best financial condition, BauerFinancial, an independent organization, regularly analyzes the banks’ financial conditions and gives them a star-rating (0 to 5, with 5 being the best). It is our privilege to say that Security State Bank has been given a 5-star rating from BauerFinancial. But what exactly does this mean?

Four times a year, we and every other bank and financial institution are required to file a detailed financial report with the government. BauerFinancial takes this raw data and thoroughly examines it and compares it to past data for consistency. They then issue a rating based on what they have found.

But this is only one organization’s opinion, you may say. BauerFinancial isn’t just any organization, but “the nation’s bank rating service” that has been used by countless federal, state and local regulators since 1983. They are second to none when it comes to rating banks.

To receive a 5-star rating from this organization is a tremendous honor for Security State Bank. It reflects the professionalism we work toward every day in order to better understand and serve our customers.

So, if you or a friend are looking for an established and secure place to do your banking, look no further than Security State Bank! Come by one of our locations today in Independence, Dysart or Urbana!

The Take Credit Program can help you and your family find the home of your dreams!

It’s called the Take Credit Program. In this program, a percentage of a homeowner’s mortgage interest becomes a tax credit that can be deducted dollar-for-dollar from federal income tax liability. For example:

Interest Paid in First Year: $3,968

Take Credit First Year Tax Credit: $1,984 (50 percent of interest) 

There are also eligibility requirements that must be met:

• First-time home owner OR

• Military veteran OR

• Buying a home in a Targeted Area

• Income Limits: 1-2 household: $71,599 in Buchanan County

• Purchase price limit: $250,000 in Buchanan County

Additionally, there are some other noteworthy issues you should be aware of. The maximum tax credit you can receive is $2,000 per year, and unused credit can be carried forward for three years. This credit cannot be used with the IFA’s FirstHome or FirstHome Plus programs, but can be used along with the Homes for Iowans and Homes for Iowans Plus programs.

To apply, all you have to do is come by any of Security State Bank’s branches! Our mortgage experts can help you understand this tax credit and will make sure that you are eligible. Once you are found to be eligible, they can help you fill out the necessary paperwork to receive this annual tax credit.

At Security State Bank, we are ready and willing to see you achieve your dream of owning a home and being able to stay in it. With the Take Credit program from the Iowa Finance Authority and Security State Bank, you can do just that. Come by today!

We are so thankful to have been able to serve the Dysart community for 10 years!

We will be celebrating this milestone with a few special items throughout the day at our Dysart branch. First off, we will be offering our customers a multitude of delicious cupcakes from Scratch Cupcakery, the tastiest cupcakes you will ever eat. To help wash those down, we will also be having our flavored coffee that has become a Friday favorite at the Dysart location.

Last, but certainly not least, we will be giving away various prizes, so you won’t want to miss out on that! What are the prizes, exactly? It’s a mystery, so you’ll have to come by the celebration and find out for yourself!

Most of all, we would just like to thank all of our customers in Dysart and the surrounding area for their continued loyalty, and for making this all possible. We truly do enjoy helping you and seeing you succeed in your financial lives. If you have feedback for us, we are always ready and willing to hear it. We hope you have had a great banking experience with us so far, and we look forward to continuing our relationship with you.

Amazing cupcakes, enriching coffee and the chance to win prizes; what else could you want in a celebration? Come on by our Dysart branch tomorrow from 8:30 a.m. to 5:00 p.m. to helps us celebrate a decade of service in Dysart!

Quality banking services, professionalism and friendly local personality- three ingredients for a bank full of flavor!

First and foremost, we are a bank that is committed to helping you succeed financially in your personal or business life. It doesn’t matter whether you are a young couple looking to finance a new home, a small business owner in town or a farmer in need of new equipment. When you come into any of our locations, you are greeted and treated with the respect you deserve.

We are also members of the communities we serve which adds some local zest to your experience with us. This allows our staff to better understand your needs no matter where you are at in life, as well as what services or programs are best suited for you. Our Casual for a Cause days and other special events also provide ways for us to give back to the communities we serve.

And while we are a local community bank, we also add a dash of robust professionalism to everything we do. Bauer Financial, a leading analyst of banks and credit unions recently rated Security State Bank as a 5-Star Bank based on our services and expertise. Bauer Financial is a nationally recognized organization for their ratings, and we very excited to have received a superior rating.

What you get with Security State Bank is simple: quality ingredients for financial growth, delivered with a hint of local gusto, coated in a commitment to excellence. Come on by and get a taste of the many flavors we offer today!

Take some time this week to reevaluate how much you are saving and to create savings goals for your money.

This week is America Saves Week, a time dedicated to promoting good savings behaviors and self-assessments of saving situations. A 2012 national survey found that:

• Only 66 percent of Americans spend less than their income and save the difference.

• Two-thirds of Americans have sufficient emergency savings.

• Only 42 percent of Americans say they have specific savings goals.

• Only 52 percent of non-retired Americans think they will have enough for retiring with a good quality of living.

One big key to saving correctly is having a savings goal to shoot for. This can allow for better tracking and breakdown of monthly and weekly savings goals, giving you a better idea of where you are with your savings. It’s easier to have a goal to shoot for rather than just blindly putting money into your savings account.

Security State Bank can assist you in becoming a smarter saver. We offer a variety of savings accounts to choose from including certificates of deposit (CDs), individual retirement accounts (IRAs) and other tools to help you build a solid financial future for yourself and your family.

Money is something you shouldn’t have to worry too much about, so take charge of your savings starting this week during America Saves Week. Contact us or come by today to get started!

Jackson Square in New Orleans is just one of the amazing sights you’ll see on the Friendship Club trip June 1-9.

The trip will take you through St. Louis and into Memphis where you can sample the famous barbecue.  You will see historical landmarks such as the Lorraine Motel where Dr. Martin Luther King Jr. was assassinated, Neeley’s Bar-B-Que on Beale Street, birthplace of the Blues and Graceland, home of Elvis Presley.

After transferring to New Orlens via Amtrak train, you will visit the Garden District, Café du Monde, Jackson Square and the swaps of Louisiana. You will also be able to see where many of the Mardi Gras floats are made and stored, visit the National World War II Museum and be treated to an exceptional jazz-themed dinner on the Mississippi River.

After departing New Orleans, the tour will head back north through Baton Rouge and to Natchez, Miss. where you can tour antebellum homes. You will then head to the famous Vicksburg for a guided tour of a Civil War battlefield that saw action in the Siege of Vicksburg in 1863. After an overnight stay, you continue north, making a stop at the Delta Blues Museum in Clarksdale, Miss., with the final overnight stay being in Cape Girardeu, Mo. before arriving home the next day.

This is a wonderful opportunity to see a much different part of the country full of exotic foods, lively music and rich tradition and history. If you’re a Friendship Club member, you won’t want to miss out on this opportunity. For more details and to make a reservation, call our Independence branch at 319-334-7035 today!

Through donating money on every Casual for a Cause Day, our employees will raise money for a local charity or non-profit. Do you have a favorite local charity?

Here’s how the program works. On select days every month, the staff at all three Security State Bank locations can wear jeans in exchange for donating $5 per day. At the end of this year, we will collect all the money and donate it to a local charity.

So, if you know of any local charities or foundations that could use some additional funding this year, let us know! You can bring your suggestions to our branch locations, give us a call, post them to our Facebook or simply tell any one of our employees that you may know.

This is a chance for all of us to help out charities or organizations that provide helpful services to those in our communities that need them. We hope to make Casual for a Cause a big success over the course of the year in order to help our local charities have a greater impact in our communities.