MidWestOne Bank takes the initiative for Teach Children to Save Day

Posted on April 6, 2012 | 1 Comment

Last year, MidWestOne Bank made financial education a priority and set a goal to have all 24 bank locations participate in Teach Children to Save (TCTS) Day. A total of 35 employees throughout all 24 locations successfully reached out to community.  Through its more-than-willing staff, MidWestOne Bank reached more than 1,400 students, grades K-12, to teach them the importance of saving.

“We have always encouraged staff to participate in Teach Children to Save Day, but last year we really drove the employees to participate,” says Jenny Olson, marketing associate at MidWestOne Bank. “It is so important, especially now, that children learn how to make smart financial decisions and start saving for their future.”

This year, MidWestOne Bank hopes to reach 2,000 students with the help of at least 45 employees. To encourage new staff to participate, a teleconference was held on March 23 for all employees interested in learning about TCTS Day.  The conference call provided details about how to participate, where to find the curriculum and how to approach schools and answered any questions staff had. Nearly 20 employees participated in the call throughout all the branches.

“I really want to make it easy for the employees to participate,” Olson says. “I encourage them to partner with another employee and give them all the help they need to enter a classroom. We also use the TCTS Kit, which gives step-by-step instructions making teaching a lesson plan easy.”

Be sure to participate in this year’s TCTS Day.  Click here to register for the event.

Thank you to all the Iowa banks that have currently registered for TCTS Day!

Northwest Bank, Algona
Bank Iowa, Altoona
Northwest Bank, Ankeny
Landmands Bank, Audubon
MidWestOne Bank, Belle Plaine
Northwest Bank, Belmond
MidWestOne Bank, Burlington
Commercial Savings Bank, Carroll
MidWestOne Bank, Cedar Falls
Keystone Savings Bank, Center Point
Iowa Trust and Savings Bank, Centerville
First Security Bank & Trust Company, Charles City
Page County State Bank, Clarinda
Citizens First Bank, Clinton
First American Bank, Clive
Peoples Trust & Savings Bank, Clive
Farmers Savings Bank, Colesburg
MidWestOne Bank, Conrad
MidWestOne Bank, Coralville
Iowa State Savings Bank, Creston
First National Bank in Creston, Creston
MidWestOne Bank, Davenport
Decorah Bank & Trust Company, Decorah
Crawford County Trust & Savings Bank, Denison
Bankers Trust Company, Des Moines
Northwest Bank, Des Moines
MetaBank, Des Moines
American Trust & Savings Bank, Dubuque
Central State Bank, Elkader
Northwest Bank, Estherville
MidWestOne Bank, Fairfield
Northwest Bank, Fort Dodge
MidWestOne Bank, For Madison
Bank Iowa, Fredericksburg
Glenwood State Bank, Glenwood
GNB Bank, Grundy Center
Shelby County State Bank, Harlan
Northwest Bank, Humboldt
Bank Iowa, Humboldt
BankIowa, Independence
Community Bank, Indianola
Peoples Bank, Indianola
MidWestOne Bank, Iowa City
BankIowa, Jesup
KSB Bank, Keokuk
Keystone Savings Bank, Keystone
Bank Iowa, Lawler
Community Savings Bank, Manchester
Maquoketa State Bank, Maquoketa
Keystone Savings Bank, Marengo
Farmers State Bank, Marion
United Bank & Trust, N.A., Marshalltown
First Citizens National Bank, Mason City IA
MidWestOne Bank, Melbourne
First National Bank, Milford
Northwest Bank, Milford
Central State Bank, Muscatine
State Bank & Trust Co., Nevada
US Bank, New Sharon
MidWestOne Bank, North English
MidWestOne Bank, North Liberty
Northwest Bank, Okoboji
MidWestOne Bank, Oskaloosa
Bank Iowa, Oskaloosa
MidWestOne Bank, Ottumwa
Guthrie County State Bank, Panora
MidWestOne Bank, Parkersburg
MidWestOne Bank, Pella
Keystone Savings Bank,Pleasant Hill
Lincoln Savings Bank, Reinbeck
Frontier Bank, Rock Rapids
City National Bank of Shenandoah, Shenandoah
Keokuk County State Bank, Sigourney
MidWestOne Bank, SIgourney
First National Bank, Sioux Center
Northwest Bank, Spencer
Security Trust & Savings Bank, Storm Lake
Northwest Bank, Storm Lake
First State Bank, Sumner
Titonka Savings Bank, Titonka
TS Bank, Treynor
First National Bank, Waverly
MidWestOne Bank,Waterloo
Northwest Bank, West Des Moines
MidWestOne Bank, West Liberty
Farmers and Merchants State Bank, Winterset

To learn more about TCTS Day, go to www.abaef.com.  

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Posted in Featured Bank, Teach Children to Save

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Governor Branstad signs proclamation declaring April Financial Literacy Awareness Month

Posted on March 30, 2012 | Leave a comment

On March 28, Gov. Branstad signed a proclamation declaring April 2012 Financial Literacy Awareness Month. Organizations in attendance to support the proclamation included the Iowa College Student Aid Commission, Iowa Student Loan, the Department of Education, Iowa State Extension, Iowa Insurance Division, Iowa Jump$tart and the Iowa Bankers Association.

“We really appreciate the Governor taking the initiative on an issue as important as financial literacy,” says John Sorensen, IBA president and CEO. “Iowa bankers know firsthand the importance of teaching young people how to manage their finances.”

The proclamation reads: 

Whereas, the Iowa College Student Aid Commission and the State of Iowa believe knowledge of personal finance is essential for the success of our citizens and state; and

Whereas, Iowa is taking decisive action to promote financial stability, and the state’s prosperity will ultimately depend on our willingness as individuals to empower ourselves and our families with financial knowledge; and

Whereas, To lay the foundation for continued prosperity, Iowa must strive to ensure all Iowans have the skills to manage fiscal resources effectively and avoid deceptive or predatory practices.

Whereas, The Iowa College Student Aid Commission wishes to instill core concepts of personal finance in all Iowans including: saving, banking, credit scores, financing higher education, taxes and insurance, consumer fraud and investing; and

Whereas, Working with the Iowa College Student Aid Commission, Iowa’s goal is to ensure all Iowans are prepared to successfully manage their finances:

Now, therefore, I, Terry E. Branstad, Governor of the State of Iowa, do hereby proclaim April 2012 as Financial Literacy Awareness Month

Students enrolled in a personal finance class at Des Moines East High School were also in attendance to witness the key-turning event for financial literacy in Iowa. 

Help support Financial Literacy Awareness Month by participating in the many events held throughout the month of April.  Events include:

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A new video contest promotes financial literacy for banks participating in the EverFi program

Posted on March 23, 2012 | 2 Comments

A new video contest is taking place in April to help promote financial literacy among Iowa high school students, while also promoting the use of the EverFi program sponsored by Iowa banks in their local schools. The contest is hosted by EverFi, Iowa College Aid and the Iowa Bankers Association. Students can submit videos about the importance of financial literacy for the chance to win prizes, including a $1,000 technology grant for the winner’s school.

 To be eligible for the contest, students must have completed modules in the EverFi program and submit their videos by April 22, 2012. The top videos will be featured online and in statewide promotional materials and presentations.

More than 50 Iowa banks currently sponsor the EverFi financial literacy program, reaching more than 125 schools across the state. Participating banks can help promote the contest by sharing the information in their bank’s newsletter, website or other customer communications. 

If your bank is not currently participating in the EverFi program, now is a great time to start. Contact Cody Lycke at cody@everfi.com to get your bank involved.

 For more information about the contest, click here.

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Principal Bank wins first prize in the national Lights, Camera, Save! video contest

Posted on March 16, 2012 | 3 Comments

At 12 p.m. Mar. 15, the American Bankers Association (ABA) Education Foundation announced on its YouTube page the top three grand prize winners of the 2012 Lights, Camera, Save! video contest. Principal Bank’s video “Interesting Life” by Sam Ennis won the first prize of a $3,000 U.S. savings bond.

(Click here to see the announcement video with all three top prize winners)

“We are thrilled for Sam and are proud to be a part of this major accomplishment,” said Art Bacci, CEO and president of Principal Bank. “The best way to connect with young people is through something they enjoy or can relate to, and Sam’s video does just that.”

U.S. Bank in San Diego, Calif., received the second prize for “The Saving Song” by Leo Moneymaker. Wolverine Bank in Midland, Mich., received the third prize for “Split Personalities” by Andrew Dyke.

The ABA Education Foundation’s Lights, Camera, Save! video contest began in the fall of 2011. Nearly 180 banks participated in this nationwide contest to get teens interested in savings. 

Teens submitted videos to their local bank, and each bank chose one video to compete at the national level for a chance to win a $3,000, $1,500 or $500 U.S. savings bond.  The top 12 videos were selected and two Iowa banks, Principal Bank in Des Moines and American Trust & Savings Bank in Dubuque, made the cut.  

The 2013 Lights, Camera, Save! video contest that will begin on Oct. 1, 2012. For more information about the contest, go to www.abaef.com.

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Don’t forget to publish this week’s Financial Tip

Posted on March 6, 2012 | Leave a comment

This week’s “Financial Tips” focuses on helping the elderly and other taxpayers  avoid a current tax scheme. Your bank is welcome to use this information as content for newsletters, websites or articles in local newspapers. Subscribe to receive the IBA’s weekly “Financial Tips” by sending an e-mail to the IBA’s Tim Laehn.

Avoid a Tax Scheme Targeting Senior Citizens
March 6, 2012

The Internal Revenue Service (IRS) recently warned senior citizens and other taxpayers to beware of an emerging scheme tempting them to file tax returns claiming fraudulent refunds.

The scheme carries a common theme of promising refunds to people who have little or no income and normally don’t have a tax-filing requirement. Promoters claim they can obtain for their victims a tax refund or nonexistent stimulus payment based on the American Opportunity Tax Credit, even if the victim was not enrolled in or paying for college.

Typically, con artists falsely claim that refunds are available even if the victim went to school decades ago. In many cases, scammers are targeting seniors, people with very low incomes and members of church congregations with bogus promises of free money. The IRS has also seen a variation of this scheme that incorrectly claims the college credit is available to compensate people for paying taxes on groceries.

The IRS has already detected and stopped thousands of these fraudulent claims. Nevertheless, the scheme can still be quite costly for victims. Promoters may charge exorbitant upfront fees to file these claims and are often long gone when victims discover they’ve been scammed. The IRS is reminding people to be careful because all taxpayers, including those who use paid tax preparers, are legally responsible for the accuracy of their returns and must repay any refunds received in error.

To avoid falling victim to this scheme, the IRS says taxpayers should beware of any of the following:

    • Fictitious claims for refunds or rebates based on false statements of entitlement to tax credits.
    • Unfamiliar for-profit tax services selling refund and credit schemes to the membership of local churches.
    • Internet solicitations that direct individuals to toll-free numbers and then solicit social security numbers.
    • Homemade flyers and brochures implying credits or refunds are available without proof of eligibility.
    • Offers of free money with no documentation required.
    • Promises of refunds for “Low Income – No Documents Tax Returns.”
    • Claims for the expired Economic Recovery Credit Program or for economic stimulus payments.  
    • Unsolicited offers to prepare a return and split the refund.  

Unfamiliar return preparation firms soliciting business from cities outside of the normal business or commuting area.

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Dream Big Grow Here contest grand prize winner to be chosen at the EntreFest! conference

Posted on March 1, 2012 | Leave a comment

Small business owners and entrepreneurs are not only potential customers who provide growth opportunities for your bank; they also are vital to the growth of local Iowa communities and the health of our state’s economy by creating jobs and opportunities for thousands of Iowans. One way your bank can help support small business owners in your community is by telling them about two upcoming Iowa Bankers Association-sponsored opportunities designed to help small businesses grow.

The first is EntreFest!, a conference designed especially for entrepreneurs, taking place March 8-9 at the Gateway Hotel and Conference Center in Ames. Attendees will have the chance to learn the many aspects of growing their businesses, including:

  • New Technology Tools
  • Why Search Engine Optimization is Important
  • How to Keep Customers Rushing Back for More
  • How to Harvest Profits without Sacrificing Value
  • Statewide Resources to Help Your Business Succeed

The second is University of Northern Iowa MyEntre.Net’s  Dream Big Grow Here small business grant program. This annual program includes a series of regional contests that take place across the state in which entrepreneurs compete for a $5,000 grant to grow their business.

The winners from last year’s regional contest will be recognized during the EntreFest conference and have a chance to pitch their business idea for a $10,000 grand prize to be awarded at the event. The regional winners who will be competing for this year’s $10,000 prize include:

If you have small businesses in your community interested in learning more about the Dream Big Grow Here grant program, encourage them to visit www.dreambiggrowhere.com to learn more.

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Northwest Bank names the ABA Teach Children to Save Pig

Posted on February 24, 2012 | 1 Comment

On Jan. 17, the American Bankers Association Education Foundation (ABAEF) announced its “Name that Pig” contest on Facebook. The ABAEF asked its fans to help name the Teach Children to Save (TCTS) Day logo pig by commenting on its wall. After weeks of creative names such as Milli-Cent, Pig E. Bank and Pursey, the ABAEF finally decided on a name.

Thanks to Jill Thielen, VP-commercial banker from Northwest Bank in Des Moines, the new name of the ABAEF’s TCTS Day pig is STASH. Thielen also came up with an acronym for Stash: Start Today And Save Huge.

“We are excited to be hosting a Teach Children to Save Day event in each of our markets,” says Kim Heinrichs, marketing project coordinator of Northwest Bank. “We opened up this contest to all our staff members as a fun way to kick off our Teach Children to Save Day event planning.”

In the past, Northwest Bank has participated in TCTS Day and hosted shred days to promote identity theft awareness. The bank’s favorite tool for teaching the kids is the ABAEF’s TCTS kit.

“We love [the TCTS kit]!” says Tiffany Miller, training associate of Northwest Bank, “The best part about the kit is the lesson plans. Anyone who wants to participate in Teach Children to Save Day can easily utilize the pre-developed lesson plans to teach a class.”

This year, each one of Northwest Bank’s 15 locations will be participating in TCTS Day, the Lights, Camera, Save! video contest and Money Smart Week. Each location has a “Champion” who is in charge of organizing its community’s financial education efforts.

“We have always been a part of financial education,” says Heinrichs. “It is our desire to continually participate in community involvement.”

Northwest Bank is a community bank with offices located in Algona, Ankeny, Belmond, Estherville, Fort Dodge, Humboldt, Milford, Okoboji, Spencer, Spirit Lake, Storm Lake, West Des Moines, Iowa and Omaha and La Vista, Nebraska.

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Posted in Featured Bank, Teach Children to Save