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September 2013 | Volume 10 | Issue 9

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It’s Never Too Late To Clean Up Your Credit Report

Most people finance their homes with mortgages and pay for their cars with loans. Young people often obtain loans to pay for college. Businesses frequently depend on financing to expand. And, of course, lots of people make purchases with credit cards.

You can’t expect to receive credit as a matter of course, however. You must apply for it. And just as you would hesitate to lend money to a stranger, banks, retailers, or finance companies will not grant you credit without knowing something about you. To obtain this information, they rely on credit reports, which they receive from consumer reporting agencies, also called CRA’s. There are three major credit bureaus that operate nationwide - Experian, TransUnion, and Equifax - plus many smaller companies serving local markets. These companies collect information about your credit activities, store it in giant databases, and charge a fee for supplying the information to banks, retailers, insurers, even employers. 

A credit report shows an individual’s or company’s borrowing and repayment history, including information about late payments and bankruptcy. This information is used to determine an individual’s credit worthiness; that is, determining an individual’s willingness to repay a debt. The willingness to repay a debt is indicated by how timely past payments have been made to other lenders. Your credit history information, good or bad, generally remains on your report for seven years. If you file for personal bankruptcy, that fact remains for 10 years.

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Member FDIC | Equal Housing Lender An Equal Housing Lender

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First Community Investment Center News

 

Do You Know Who Your Beneficiaries Are?

Why you should periodically review beneficiary designations.

Provided by Jim Ulman and Clint Squier – Registered Representatives with First Community Investment Center - Prepared by MarketingLibrary.Net Inc.

Your choices may need to change with the times. When did you open your first IRA? When did you buy your life insurance policy? Are you still living in the same home and working at the same job as you did back then? Have your priorities changed a bit – perhaps more than a bit?

While your beneficiary choices may seem obvious and rock-solid when you initially make them, time has a way of altering things. In a stretch of five or ten years, some major changes can occur in your life – and they may warrant changes in your beneficiary decisions. In fact, you might want to review them annually.

How your choices affect your loved ones. The beneficiary of your IRA, annuity, 401(k) or life insurance policy may be your spouse, your child, maybe another loved one or maybe even an institution. Many people do not realize that beneficiary designations take priority over bequests made in a will or living trust. Naming a beneficiary helps to keep assets out of probate when you pass away.

You may have even chosen the “smartest financial mind” in your family as your beneficiary, thinking that he or she has the knowledge to carry out your financial wishes in the event of your death. But what if this person passes away before you do? What if you change your mind about the way you want your assets distributed, and are unable to communicate your intentions in time? And what if he or she inherits tax problems as a result of receiving your assets?

Are your beneficiary designations up to date? Don’t assume. Don’t guess. Make sure your assets are set to transfer to the people or institutions you prefer. If you’re not certain you understand all the possible ramifications of your selections, you may want to reach out to a qualified Financial Professional for guidance.

Give us a call today. Clint Squier and Jim Ulman may be reached at (708) 946-2246.

Jim and Clint

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This material was prepared by MarketingLibrary.Net Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. All information is believed to be from reliable sources; however we make no representation as to its completeness or accuracy. Please note - investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment.

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Shred Any Possibility of Identity Theft

September 14 • 9-11 AM • Peotone Financial Center

On Saturday, September 14, we will host our popular Document Disposal Day in the parking lot at our Peotone Financial Center, from 9:00-11:00 AM. This free event is open to all individuals and businesses who have unneeded confidential papers that they would like destroyed.

Destroying confidential information is not only a good idea for security purposes; it may also be legally required for many individuals and businesses. According to the FTC’s DISPOSAL RULE, added in 2005 as part of the Fair and Accurate Credit Transactions Act of 2003 (FACTA) “any person who maintains or otherwise possesses consumer information for a business purpose must properly destroy discarded consumer information”. The FTC’s FACTA DISPOSAL RULE further states that every person and/or business, “must properly dispose of such information by taking reasonable measures to protect against unauthorized access to or use of the information in connection with its disposal.” Shredding is one of the recommended ways to dispose of sensitive information.

All types of office papers are accepted, including file folders, green bar paper, carbonless paper, letterhead, envelopes, etc. Staples, paper clips and rubber bands do not have to be removed, however paper should be removed from metal-type binders such as 3-ring binders or metal fastener folders. For more information, please contact the bank at (708) 946-2246 or (708) 258-0530.

Look for the Shred X truck in our Peotone Financial Center parking lot.

Shred X

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Member FDIC | Equal Housing Lender An Equal Housing Lender

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First Community Gold Club News

Our Gold Club is for those customers who are 55 years of age or better and have at least $1,000 in any combination of accounts with our bank. Members receive increased rates on CDs, free check offers, two free dinners per year, and much more. First Community Caravan is open to anyone and can be enjoyed by customers and non-customers alike. If you are interested in signing up for our Gold Club or for one or more of our trips, contact Irene Brothers today at (708) 946-2246.

A Day at the Flea Market

Shipshewana, IN

Get a group of your friends and come join all your First Community Bank and Trust friends for a day of browsing the many booths – antiques, clothing, kitchen farmers market, bakery good, fudge, etc.

We will embark on our journey, Tuesday, October 1, 2013.   Our departure time from Peotone will be 8:15 a.m. and Beecher 8:45 a.m. We will depart for our return home at 3:30 p.m. The cost of the trip will be $30.00, which includes your transportation and goodies on the bus. Once at the flea market you will be on your own.

Contact Marcia at 708-946-2246 for reservations. We will need to have a minimum of 40 people to take the trip. I will need final count and confirmation by September 17th or the trip will be cancelled.

 

Fall Gold Club Dinner

Beecher Amvets Hall

The Fall Gold Club Dinner is scheduled for Wednesday, October 30, 2013. Get ready for a ghoulish time with friends as we prepare for Halloween. We will be serving homemade meatloaf with garlic smashed potatoes and finish off the meal with some Halloween inspired ice cream sundaes! Call to reserve your seat today!

 

A Christmas Carol - The Musical

Theatre at the Center - Munster, IN

Come join us for a day at the theater as the ghosts visit Ebenezer Scrooge on Christmas Eve and he get a chance for redemption as the we (the audience) revels in the story’s emotional power and joy that comes with the memorable music. It’s a perfect way to get into the Christmas Holiday spirit!

Take Note the date for this event is TUESDAY, DECEMBER 3RD. Show was sold out for all Thursday matinees. Cost of the trip will be $70.00, which includes transportation, lunch and show (your choice of Roast Turkey with Gravy or Roast Sirloin of Beef with Gravy must be given at time of reservation).

Please call Marcia or Irene at 708-946-2246 for reservations.

 

Horseshoe Casino Trip

Hammond, IN

Join us on Thursday, December 5th for our next excursion to Horseshoe Casino in Hammond, IN. and try your luck at some games of chance. If you don’t gamble, feel free to join us for lunch, people watching and hanging out with friends.

We will pick-up our guests in Peotone at 9:00 AM and in Beecher at 9:30 AM. The cost of this trip is $27.00 for Gold Club Members and $29.00 for non-members. Price includes Buffet lunch and $10.00 for gaming.

NOTE:  Please make all payments for this trip by November 22nd.

 

View First Community Gold Club Web Page

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Member FDIC | Equal Housing Lender An Equal Housing Lender

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2013 Customer Appreciation

 

Annual Peotone Blue Devils Tailgate Party

Join us on Friday, October 11 from 4-7 PM for a Homecoming Tailgate Party at our Peotone Financial Center. Stop by for a hot dog or brat and a soda and cheer on the Blue Devils to victory!

Look for the large banner on our Peotone Financial Center!


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Member FDIC | Equal Housing Lender An Equal Housing Lender

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