Volume 43 Number Two June 2014 notes GBC Mobile Banking Enhancements Greenfield Banking Company’s new mobile banking site is here! If you don’t have an iPhone or Android (for which there are GBC mobile apps), you can now use the new and improved mobile site and experience its easy navigation. To find our new mobile site, simply search for Greenfield Banking Company in the browser on your mobile device. (If you have visited our old mobile site on your device previously, you may need to clear the search history for the brand new site to come up). In this issue: Art Gallery Current Contact Information With our new mobile site you can login to Pocket Banker (mobile NetTeller), find our locations and hours, contact us and receive any current alerts. You can also enroll in NetTeller from our new mobile site. You don’t have to have a specific mobile device to experience the ease and convenience of Greenfield Banking Company’s Mobile Banking! Home Improvement Loans NetTeller PIN Reset Investment Management & Trust Services: Social Security Planning Community Events: Community Drug Toss Day Legacy Cinema Free Family Film Festival Promotions Milestones Retirees GBC Guardian is a new service we are offering to further protect your accounts. This service gives our cardholders the ability to receive text alerts to help identify potentially fraudulent transactions on their GBC debit cards. Cardholders can receive text alerts to their cell phone for their enrolled KeyCard Debit Card, HSA Debit Card, ATM Card & Equiline Debit Card. Multiple devices (up to 10 per card) can be enrolled to receive the alerts. This service has a complex system for helping to identify transactions that could be fraudulent and works in addition to our regular fraud department. Here’s how it works: When a transaction triggers an alert, a text message is sent to the enrolled phone number describing the transaction. The text receiver can either: 1) Ignore the message and this indicates that it is a legitimate transaction, or 2) If it’s an unauthorized transaction, respond precisely as instructed in the text message. If you respond with anything different than instructed in the text message, the system will not recognize it and your reply will be ignored. The system allows the cardholder up to 12 hours to respond. “Do Not Disturb” time can also be set up, during which messages will be held for later reporting. To enroll in this service for added protection, just click on the link on our website and follow the directions: www.gbcbank.com GREENFIELD BANKING COMPANY As always, please contact your favorite branch should you have questions concerning this and any of our other services. Artwork By Pam Newell Greenfield Banking Company’s Art Gallery will feature the artwork of Pam Newell during May and June, 2014. Pamela C. Newell works in both pastel and oil, and her work is recognized in national and regional juried competitions including the Hoosier Salon, Indiana Heritage Arts, the Richmond Art Museum, Chicago Pastel Painters and Cincinnati Viewpoint. Specializing in impressionistic style paintings of landscapes and still life, her expressive work reflects a love of nature. She uses rich color to describe light and mood of the moment in her plein air and studio work. The Fishers artist is a workshop instructor throughout the region and a faculty member of the Indianapolis Art Center. Her oils and pastels have earned the Indiana Artisan designation. In 2011 her pastel painting “In The Heartland” was presented to Lt. Governor Becky Skillman on behalf of Indiana Artisan and was displayed in the Lt. Governors’ statehouse office. Newell’s work was juried into the 2012 American Impressionist Society National Juried Art Exhibition and into the Indiana Plein Air Painters Association’s Painting Indiana III project in collaboration with Indiana Landmarks. Published in 2013, by Indiana University Press, this book showcases Hoosier artists of the past along with the work of living artists, celebrating the history, art and architecture of Indiana. Pam Newell Newell earned her BFA from the University of Massachusetts, Dartmouth. Galleries include The Hoosier Salon Gallery, Indianapolis and The Brown County Art Guild, Nashville. She is a member of the American Impressionist Society and Oil Painters of America. Artist’s Statement: The versatility of working in both pastel and oil allows me to express myself in singular ways enriching my work, and adding to my growth as an artist. Plein air painting has become a passion; except on the days when the weather is really bad. On those days I can be found painting from a still life in the studio, or creating a larger painting from a plein air study. Oil allows me to quickly capture the fleeting light and spirit of the subject outdoors. I find the textural quality of oil exciting and I like to build up an “impasto” in the lighter areas. I especially enjoy the unexpected effects that can be achieved with a palette knife. Most of my pastels begin with a transparent water-media under-painting, in a complementary color that sparkles through and contrasts with the opaque strokes of pastel. I apply pastel with broad strokes as if I were using a brush. The pure colors and refractive qualities shimmer on the surface of the sanded paper I use. By layering, blending, and placing colors side by side, the pastel painting shimmers with iridescent luminous color. I strive to capture a mood or a moment in time by describing only the essence of a subject leaving out unnecessary details, inviting the viewer to interpret the art through their own experience. Pamela C. Newell: email: [email protected] website: www.pnewellart.com The public is invited to view Pam Newell’s artwork in Greenfield Banking Company’s Art Gallery during May and June, 2014. The Art Gallery, located on the second floor of the Main Office, 1920 North State Street, Greenfield, IN is open to the public during normal business hours: M – TH, 9 – 5; Fri, 9 – 6; Sat 9 – Noon. ! Do We Have Your Current Contact Information? Is there a number we may reach you at any time? Here’s why it’s so important: 1) We may need to contact you regarding suspicious or fraudulent activity on your account (ex. fraudulent Debit card transactions or check fraud). 2) We want to ensure you receive your monthly, quarterly and year-end statements. The US Postal Service will not forward mail from your financial institution. Please contact any of our seven convenient locations to verify that we have your current information. Main Office 1920 N State St Greenfield, IN 46140 317-462-1431 Cumberland Office 12140 E Washington St Cumberland, IN 46229 317-894-4500 Downtown Office: 10 E Main St. Greenfield, IN 46140 317-467-7200 Fortville Office 111 W Broadway Fortville, IN 46040 317-485-5181 Meridian Road Office 51 N Meridian Road Greenfield, IN 46140 317-462-0971 McCordsville Office 7363 N 600 W McCordsville, IN 46055 317-335-7440 New Palestine Office 5783 W US 52 New Palestine, IN 46163 317-620-2200 2 Is Your Home In Need Of Attention? Our winter was harsh but warmer weather is now upon us. Is it time for replacement windows, need a new roof or landscaping? Perhaps a room addition, kitchen/bath remodel or that pool you’ve always dreamed of? Greenfield Banking Company offers competitive rates on Home Improvement Loans. Contact one of our Loan Officers and see how we can assist with financing your home improvement projects: Large or small! Did You Know? You can create a predetermined PIN Reset Question for your NetTeller account. And, why? Taking this step can expedite access to NetTeller in the event you are unexpectedly locked out of your account. Here’s how… NOW: Visit our website: www.gbcbank.com On the Home Page and within the “Online Banking” section Log In to NetTeller. Next, click on the “Options” tab. Under the section of “Modify Personal Settings” enter a “PIN Reset Question” and a “PIN Reset Answer”, then scroll down and select “Submit”. LATER: If a NetTeller user is locked out of the system follow these steps… Select “Reset Pin” on the Log In screen. This will prompt a screen requesting your predetermined “PIN Reset Question” to appear. Provide the information requested: 1) Your predetermined “PIN Reset Answer” and 2) Your email address and a subject line. An email will be generated with the subject line you chose with a web link. Your PIN will be reset to your “original” password, which is the last four digits of your Social Security Number (SSN). By using the last four digits of your SSN to Log In, a prompt will occur to change your PIN. Don’t delay in responding: Users only have two hours to respond to the email. Investment Management & Trust Services... Social Security Planning: Is It Necessary? Social Security is one of the most popular programs the federal government has ever put into place. In total, about 57 million Americans received retirement, disability, or survivors’ benefits during 2012 at a cost of about $786 billion. Social Security retirement benefits were received by nine of 10 people age 65 or older during 2012 and were a major source of income for more than two-thirds of retirees. It may not be surprising in light of the financial challenges Americans have faced during the past few years, but the percentage of people claiming Social Security retirement benefits at the earliest possible age increased by more than 2 percentage points between 2007 and 2009. According to one expert, 41 percent of men and 46 percent of women receive the smallest possible retirement benefit available to them because they claimed early at age 62. While some Americans may have had little choice about when to claim benefits, it’s important for those who do claim these benefits to plan and make informed decisions because Social Security retirement benefits are more complex than many understand. On his website, Boston University Economics Professor Laurence Kotlikoff pointed out: “Social Security offers retirement, spousal, widow, widower, child, mother and father, and divorcee benefits. It has highly complex benefit formulas which include wage indexation of past covered earnings, benefit-specific reduction formulas for collecting benefits early, an earnings test, deeming provisions that limit when married and divorced people can take particular benefits, delayed retirement credits, credits for getting hit by the earnings test, indexation of benefits to inflation, a family benefit maximum, a “file and suspend” option permitting you to collect free spousal benefits while you defer your retirement benefit, the option to start your benefits early, suspend them, and restart them later, Windfall Elimination and Government Pension Offset provisions that limit retirement and spousal benefits available to workers with non-covered employment histories, and the list goes on.” Is it worth the effort? Some Americans are skeptical about whether Social Security benefits will be available when they reach retirement age. Social Security’s reserves, which were built up over three decades when the system took in more revenue than it paid out, are expected to be depleted sometime in the early 2030s. Once reserves run out, the tax revenue that funds Social Security will cover just three-fourths of scheduled benefits. There are a variety of options that might help keep Social Security viable including revising benefit formulas, raising taxes, raising the cap on taxable income, increasing retirement age, or some combination of all of these. Regardless of the challenge and the expense, the vast majority of Americans want to see the program continue, according to a 2013 study by the Pew Research Center. In fact, 90 percent of Americans want spending on Social Security to remain as it is or increase. Americans’ reasons for wanting to preserve Social Security often are personal; however, the AARP (formerly the American Association of Retired Persons) recently argued there are economic reasons for keeping the program in place, as well. A study released by the AARP Public Policy Institute suggested Social Security payments during 2012 supported about: • 9.2 million jobs • $1.4 trillion in economic output (goods and services) • $774 billion in value added (gross domestic product) • $370 billion in salaries, wages, and other compensation • $222 billion in tax revenues for local, state, and federal governments The study also pointed out a significant portion of these benefits might be offset if the Social Security program was modified. In that circumstance, payroll taxes that are currently withheld from workers’ paychecks would drop and the take-home pay of many Americans would increase. It is uncertain whether the money would be spent or saved. Social Security planning Whether you believe Social Security retirement benefits could or should be modified, it’s important to understand the options available to you, as well as the role benefits may play in your overall retirement plan. In some cases, particularly when it comes to spousal benefits, maximizing social security income can be quite complex. Here are some basic questions you may need to answer before you make any decisions: • At what age can you receive full Social Security retirement benefits? (Hint: If you were born after 1943, it’s not age 65.) To schedule a free appointment, please • How much will your potential retirement income change if you choose to receive benefits early or late? contact our Wealth Advisor, Jason White. (If you had maximum taxable earnings and live to age 85, the difference between early and full benefits received over a lifetime is tens of thousands of dollars. The difference between early and late benefits is more than $150,000.) • Can your spouse, who doesn’t work outside the home, receive Social Security benefits while you’re alive? • If you and your spouse both work, when should you apply to receive the highest benefits possible? • How will earnings from work during retirement affect my benefits? (Hint: It depends on the age at which you take benefits.) Recent studies have found few people understand the dollar value of the decisions they make about Social Security benefits. Social Security planning ensures you understand the amount of income Social Security may provide in various circumstances and develop strategies that can help maximize the benefits you receive. For couples, making the most of spousal retirement benefits generally requires decisions about when to collect Social Security benefits be coordinated and considered within the context of other retirement income sources. Financial planning is a process The pursuit of financial security is an ongoing activity. If your goal is to maximize retirement income, then Social Security planning should be a component of your retirement strategy and overall financial plan. Of course, like any other plan, it may need to be modified as your personal circumstances change or as government regulations are altered. Jason White, JD, AAMS, CPWA® Assistant Vice President Certified Private Wealth Advisor Trust Officer Greenfield Banking Company 1920 N State St, Greenfield, IN 46140 317-467-7037, x229 [email protected] www.gbcbank.com If you would like to learn more about maximizing Social Security retirement benefits or developing a plan for your financial future, please call or email me to schedule an appointment. 3 Community Events Greenfield Banking Company and Neighborhoods Against Substance Abuse (NASA) are again partnering to provide a “Community Drug Toss Day”. Drop off your unused or expired medications for safe disposal. Last year’s event collected nearly 500 pounds of medications! Greenfield Banking Company announced the following promotions, January 1 - May 15, 2014: The following employees were recognized for employment milestones in March, April and May, 2014. V K K J ickie Mattox, Main Office, has been named Senior Vice President. Community Drug Toss Day Saturday, August 16, 2014 9 am - Noon: Participating locations listed below No drop-offs will be accepted Responsibly and Safely prior to or after this event. for Our Environment Law enforcement officers will be present to accept the medications. Medications and any personal information on labels, such as name, address, etc. will be destroyed in the form of incineration, at an environmentally safe site. Medications are in the possession of law enforcement until incineration. • • • • • Milestones Promotions athy Trautmann, Main Office, was recognized on March 13, 2014 for 10 years of service. athy Trautmann, Main Office, has been named a Vice President. ason White, Main Office, was recognized on March 23, 2014 for 5 years of service. B rad McClarnon, Main Office, has been named an Assistant Vice President. Main Office, 1920 N State, Greenfield, IN Cumberland Office, 12140 E Washington St.,Cumberland, IN New Palestine Office, 5783 W US 52, New Palestine, IN Fortville Office, 111 W Broadway, Fortville, IN McCordsville Office, 7363 N 600 W, McCordsville, IN K elly Myers, Meridian Road Office, was recognized on April 7, 2014 for 5 years of service. J enna Gannon, New Palestine Office, has been named an Assistant Cashier. L orri Hughes, Fortville Office, was recognized on April 8, 2014 for 5 years of service. A ngela Neff, has been named Manager of the Main Office. Greenfield Banking Company is pleased to serve as a sponsor of the T ammy Craig, Fortville Office, was recognized on May 4, 2014 for 5 years of service. M 2014 Legacy Cinema Free Family Film Festival Each Wednesday: June 4 - July 30, 2014 Showtimes: 10:00 am ary Buck, has been named Assistant Manager of the Main Office. The Free Family Film Festival features a selection of PG rated films. K ellie Johnson, McCordsville Office, was recognized on March 2, 2014 for 5 years of service. A nita Turner, has been named Assistant Manager of the Cumberland Office. For a complete listing of shows visit: www.legacycinema.com P olly Simmons, Main Office, was recognized on April 7, 2014 for 5 years of service. Photos withheld by request. Retirees M artha Mundy, Main Office Bookkeeping Department, retired on May 13, 2014 with 14 years of service. L ou Jones, Main Office Investment Management & Trust Services Manager, retired on May 31, 2014 with 4 years of service. J anet Shannon, Cumberland Office Assistant Manager, retired on June 4, 2014 with over 34 years of service. P am Seely, Main Office Teller, retired on March 31, 2014 with over 31 years of service. GBC congratulates our officers and milestone recipients and extend best wishes to our retirees. We thank all for their dedication and service. GBC Notes is published quarterly for customers of Greenfield Banking Company to provide information about the Bank, educational banking tools and community involvement. This newsletter is published solely for informational purposes and we believe its contents to be reliable but acccuracy is not guaranteed. 4 Published by: Greenfield Banking Company, Marketing Department 1920 N State St., Greenfield, IN 46140 (317) 462-1431, x264 or x290 www.gbcbank.com
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