Mutual ownership

Did you know that Systematic Savings Bank is mutually owned? That means YOU have control over our direction and decision making because having an account here means you are, in part, an owner. Bottom line: we exist for you and your needs. Period.

Systematic is proud to be a mutually owned company. Our profits, after deduction of business expenses, are set aside in capital so we can stay open and help you with your financial needs. That’s why we listen so attentively to what you have to say and also why we get so involved with our community. We want to build a lasting partnership with you.

The future of Systematic is in your hands. So, exercise your right by liking us on Facebook or responding to this blog post. We know ideas don’t grow on trees. They grow from suggestions. So help us put your ideas into action and leave a comment. We’d love to hear from you.

In honor of St. Patrick's Day

Did you know that St. Patty’s Day, celebrated on March 17^th, could potentially make you money? According to a blog by Timothy Woods on Seeking Alpha, “immediately preceding the holiday until one trading day after, stock markets tend to consistently rise.” This, he says, is attributed to a rise in mood levels as people wait for the holiday and this encourages investment. Research on the phenomenon suggests that the US stock market climbs on average by 0.34 percent two trading days before St. Patrick's Day and rises again to 0.37 percent for the day before. Who knew? So remember that as you dig in the back of your closet to find that green sequin shirt.

For more information on the beginnings of St. Patrick’s Day, read through this graphic provided by the History Channel.

Guest blogger for America Saves Week!

This America Saves Week: Set a Goal. Make a Plan. Save Automatically.

By Katie Bryan, America Saves Communications Manager.

The theme for America Saves Week 2013 is more than just a theme; it’s is the essence of a sound approach to savings, designed to help individuals take financial action. Set a Goal. Make a Plan. Save Automatically. Knowing what you want to save for, how to achieve it, and then making the savings process automatic will allow you to reach your savings goal.

Set a Goal

You can save more by having a goal in mind. Visualizing what you want to save for gives your savings a purpose. You may be tempted to withdraw from your savings if it has no purpose. But once you have a goal in place, you know that taking money out of your savings is taking away from that ultimate goal. So what are you saving for? An emergency fund, a home, retirement, a car?

Make a Plan

Once you have your goal in place, make a plan for how you are going to save. To start, cut down on your spending and reduce high-cost debt. Next, keep track of what you spend and make a budget. Once you know where your money is going each month, you can cut down on unneeded spending and save the difference.

Don’t forget to keep your savings safe, secure, and growing. Banks, credit unions, and even the government offer a variety of financial products that can help you save.

Save Automatically

It can be hard to put aside money for savings. But there is an easy way to save money without ever missing it. Once you know how much you can save, make saving automatic. Many employers allow you to divide your paycheck into different accounts through direct deposit. Take advantage by putting part of your pay into a savings account. If you get paid in cash, take a small amount to the bank to deposit into a savings account each week.

Take the America Saves Pledge (or re-pledge) today to set your savings goal and make a plan to save. You can also follow America Saves on Facebook and Twitter.

America Saves Week is coordinated by America Saves and the American Savings Education Council. Started in 2007, the Week is an annual opportunity for organizations to promote good savings behavior and a chance for individuals to assess their own saving status.

FDIC calls upon American consumers to save and build wealth

America Saves Week Is February 25 – March 2, 2013

The Federal Deposit Insurance Corporation (FDIC) is encouraging consumers to take actions to save toward financial goals during America Saves Week. FDIC Chairman Martin J. Gruenberg today said, “Saving money in a federally insured bank account is the safest way to build savings for emergencies or future dreams. During America Saves Week, I encourage everyone to set a savings goal and work with an insured financial institution to meet their goal.”

During the annual America Saves Week, consumers are encouraged to assess their savings progress and take action to advance this progress. The theme of the 2013 week is “Set a Goal, Make a Plan, Save Automatically.” Ways to save automatically toward a goal could include establishing regular transfers into a savings account and making regular contributions into a retirement plan. People who regularly save even small amounts will be amazed at how quickly their investment grows over time as a result of compounding.

The FDIC’s research shows that 30 percent of American households do not have saving accounts, a much higher percentage than those who do not have transaction accounts, such as checking. Savings accounts are vital for dealing with unexpected emergencies and expenses, or predictable life events such as college or retirement. (See The 2011 Survey of Unbanked and Underbanked Households, http://www.economicinclusion.gov/surveys/2011household/.)

Consumers can jumpstart their savings commitment by allocating a portion of any tax refund into a savings account or savings bonds. Low- and moderate-income taxpayers may be able to obtain free tax help from an IRS-trained volunteer through a Volunteer Income Tax Assistance (VITA) site—contact the IRS at call 1-800-906-9887 to find a nearby site.

To learn more about America Saves Week and about savings-related resources from the FDIC, please visit http://www.fdic.gov/deposit/deposits/savings.html.

"Money Smart" and FDIC

This Thursday I thought I would share an interesting article I found online posted by the FDIC on a financial education program called Money Smart. Read the information below to learn more about how you can start improving your financial skills.

Financial Education.....A Corporate Commitment
Money Smart is a comprehensive financial education curriculum designed to help low- and moderate-income individuals outside the financial mainstream enhance their financial skills and create positive banking relationships. Money Smart has reached over 2.75 million consumers since 2001. Research shows that the curriculum can positively influence how consumers manage their finances, and these changes are sustainable in the months after the training.
Financial education fosters financial stability for individuals, families, and entire communities. The more people know about credit and banking services, the more likely they are to increase savings, buy homes, and improve their financial health and well being.
The Money Smart curriculum is available free of charge in four primary formats:

• An instructor-led curriculum for adults on CD-ROM available in nine languages and print versions for the visually impaired (learn more)
• An instructor-led curriculum for young adults between the ages of 12-20 on CD-ROM, Money Smart for Young Adults (learn more)
• A self-paced Computer-Based Instruction (CBI) format online for ages 13 and over in English and Spanish (learn more)
• A portable audio (MP3) version, Money Smart Podcast Network  (learn more)

The Money Smart program may be used by financial institutions and other organizations interested in sponsoring financial education workshops.  Collaboration is important to the success of any education effort. The FDIC encourages banks to work with others in their communities to deliver financial education and appropriate financial services, including to individuals who may not have a relationship with an insured depository institution.
The Money Smart program can help banks fulfill part of their Community Reinvestment Act obligations. The Community Reinvestment Act of 1977 (CRA) encourages federally insured banks and thrifts to help meet the credit needs of their entire community, including areas of low-and moderate-income. When a bank's CRA performance is reviewed, the institution's efforts to provide financial education and other retail services are a positive consideration.

Celebrating 90 years of business

With 2013, comes Systematic Savings Bank's 90th year in the Springfield community. This is a huge accomplishment. A special thanks goes out to our customers, employees, and friends.

 

At Systematic, we pride ourselves as being "the oldest new bank in town." This means we stay in tune with the community and adapt to your needs. We can offer you several commercial and personal products along with all the other convinces you've come to expect from a larger bank. Yet we also know the importance of being personal and that's why we strive so hard to develp partnerships with our customers and look forward to doing the same for you. For a full list of our offerings, please visit our website at www.mysytematic.com. If you have any questions, please call the main bank at 417.862.0536 or stop by our 318 South Avenue location.

Student Loan Fast Facts

More Americans are attending college at a time when college is getting more expensive and according to the Financial Services Roundtable, 57% of bachelor’s degree recipients at public institutions borrow the money to pay for college. Are you part of the 57%? You might be interested in reading some of the Fast Facts recently released on student loans by the Financial Services Roundtable.

According to the article, despite the fact that student loans are now the largest form of consumer debt (outside of home mortgages) the college graduate unemployment rate is 3.9%, compared to the national average of 7.8%. This means college graduates have a better chance of paying back and handling this debt.

So if you’re on the fence about pulling out a loan you really need this semester, know that attending college and finishing your degree might be worth it. Read more fast facts.