County National Bank’s Monthly e-News
October 2011
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CONTENTS
CNB: Proud to Be Your Community Bank
Low Interest Rates at CNB Make Home Ownership
Possible

Changes to U.S. Savings Bonds
Join Us at JAXPO!
Staged to Sell
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CNB: Proud to Be Your Community Bank
That’s right. We’re proud to be a community bank with the privilege of serving great communities. And because we’re a community bank, we are able to focus attention on the financial needs of local families, businesses, and farmers. We don’t take deposits in one state and lend in others – we channel our loans to the neighborhoods where our customers live and work, helping to keep local communities vibrant and growing. As a matter of fact, our new lobby poster tells the story of how your deposits are recycled back into the community in the form of loans to individuals and businesses. That’s the community banking difference.
 
You may have read or heard that recent changes in the marketplace have led some large financial institutions to increase bank debit card fees. The Federal Reserve Board’s rule implementing the “Durbin Amendment” took effect on October 1st and affects large national banks with assets of $10 billion or more. According to an October 4th memo to the members of the Senate and House of Representatives from Frank Keating, President and CEO of the American Bankers Association (ABA), “By capping the fees merchants pay for the value and efficiencies that debit card use brings to their operations, government intervention into this functioning market has fundamentally altered the economics of offering debit cards to consumers. Banks that are losing money on every debit transaction must move away from offering low cost debit choices.” 
 
Smaller banks are hoping to remain exempt from the new laws, but many are skeptical and are watching closely. And, although merchants said that they would cut prices thanks to increased fee revenue received from the new debit interchange law, it is uncertain if this extra revenue will be passed down to the consumer in the form of savings. It may turn out that the only beneficiaries from the legislation are the big-box retailers who will see their profits significantly increase. And if they do reduce prices, any savings realized will be offset by the bank fees that consumers will now pay for debit card usage.
 
As the banking industry remains in the spotlight during our nation’s struggle toward economic recovery, it is important for you to know that there is a significant difference between large national banks and smaller community banks, like CNB. We have a responsibility to our shareholders, our customers, and our employees to be a well-capitalized and well-managed institution, and to that end we have been successful for over 77 years.               

 
Low Interest Rates at CNB Make Home Ownership
Possible


With mortgage interest rates at their lowest levels since World War II, a plentiful housing stock, and prices still low, buying a home may now be easier for many Americans than it has been in years. 
 
“Buying a home is the single largest investment that most people will make in their lifetime,” said Craig Connor, County National Bank President and C.E.O. “So it’s important to take an honest look at your budget first to see what you can afford.”
 
County National Bank recommends that potential buyers consider several important factors before deciding to buy a home:

[FULL STORY]
 
Changes to U.S. Savings Bonds
The U.S. Department of the Treasury will end over-the-counter sales of paper savings bonds on December 31, 2011, including sales through financial institutions and applications mailed directly to the Federal Reserve Bank by customers. Savings bonds are not going away, however. After December 31st, you can purchase electronic savings bonds online through TreasuryDirect at www.treasurydirect.gov.

[FULL STORY]
 
Join Us at JAXPO!
The Jackson County Chamber of Commerce’s JAXPO Business Showcase is being held on Thursday, October 20th from 1:00pm until 7:00pm at the Allskate Fun Center located at 1313 West North Street in Jackson. 
 
Please visit the County National Bank booth (#60) and say hello – we’d love to see you! JAXPO is a great event “Connecting Business Leaders” and CNB is happy to be a participant. The business showcase is open to the public – the cost is $5 at the door or you may download a free ticket at www.jacksonchamber.org.  You can also call the Chamber of Commerce for more details at 517-782-8221. 

 
Staged to Sell
Decorate your home in a way that attracts more buyers

Photo: Staged to Sell
Putting your house on the market can be a stressful endeavor. Fortunately, however, there are things you can do to make your home appeal to buyers and sell quickly. By strategically staging each room and the outdoor areas, your property will stand out as a great investment for someone looking to buy.
[FULL STORY]
 
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Disclaimer - All content contained in this newsletter is for informational purposes only and should not be relied upon to make any financial, accounting, tax, legal or other related decisions. Each person must consider his or her objectives, risk tolerances and level of comfort when making financial decisions and should consult a competent professional advisor prior to making any such decisions. Any opinions expressed through the content in this newsletter are the opinions of the particular author only.

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