The start of each new year is a time for us to reflect on the past year and plan for the next. 2022 was a challenging year for a lot of reasons, not the least of which was record-high inflation that had plenty of people tightening their budgets. As we head into 2023, I'd like to offer some tips to help you establish and maintain good credit so you can enjoy a brighter financial future.

Open a Checking Account

While a checking account can't help you improve your credit score, it does help you balance your budget while you're establishing a credit history. By making credit card and loan payments with your checking account, you will see all of your monthly transactions on a single bank statement rather than having to compare several different statements in order to get a full view of your financial situation.

Another benefit of checking accounts is that most come with a debit card. Using a debit card along with your credit card is safer than paying with cash, since banks offer fraud protection and card controls to help prevent negative impact to your credit if your card is lost or stolen. Make sure to monitor your credit and bank statements regularly, so you can correct any errors and detect signs of potential identity theft.

Automate Bill Payments

One of the easiest ways to damage your credit is to fall behind on loan or credit card payments. Thankfully, most banks (New Tripoli Bank included) offer automatic bill pay through their online banking platforms to ensure that your monthly bills are paid.

An emergency fund is helpful for staying ahead of your bill payments. A good rule of thumb is to set aside enough money to pay for six months of living expenses so that, in the event of an emergency, you can absorb unexpected expenses and avoid penalties for late payments. Thankfully, most banks' online banking platforms allow you to set up automatic, recurring transfers between accounts, so you can set aside a portion of each paycheck for a rainy day into a dedicated emergency savings account.

Show Stability in Your Credit Use

As you work to maintain your credit, you should seek to develop a good mix of credit—for example, paying down a mortgage loan plus credit card payments—to demonstrate that you can manage different types of credit, which can improve your credit score. It is also better to pay down your credit gradually instead of immediately paying off your debt all at once, as it shows you are capable of making payments on time.

If you are planning to use credit for a large purchase, you should adjust your credit usage leading up to the purchase. For at least three to six months prior to your purchase, you should focus on paying down existing debt and avoid incurring new debt.

By establishing these spending and saving habits early, you'll be able to make your money work for you so you can speed up your recovery from temporary financial roadblocks and remain financially healthy. If you are concerned about your financial wellness, New Tripoli Bank offers checking, savings, and lending options to help you navigate pivotal financial milestones and plan for your financial future. Reach out to one of our friendly community bankers who can help steer you in the right direction for 2023.

Kate Hart-Zayaitz is New Tripoli Bank's Chief Lending Officer and Senior Vice President. Kate has spent many years working for various community banks in our area. She was born and raised in Emmaus and has been involved with multiple banking and economic organizations throughout the Lehigh Valley.

Planning to spread some cheer this holiday season? Extend that cheer to your community during the holidays by purchasing one-of-a-kind creations from local small businesses in the Lehigh Valley. By doing so, you’ll be giving a gift that keeps on giving—local economic prosperity.

Did you know that for every $100 you spend at locally owned businesses, $48 out of every $100 is returned to the local economy, compared to just $14 when you shop at a national chain? Or were you aware of the country’s 32.5 million small businesses that create 62% of net new U.S. jobs annually? By shopping locally, you’re not only putting your hard-earned dollars to work in your community; you’re providing the fuel that powers our national economy.

Independent, community-serving businesses typically consume less land, carry more locally made products, and create less traffic and air pollution, so shopping locally is good for the environment too. Moreover, locally sourced goods and services like those found in Lehigh Valley are often crafted by local artisans and are exclusive to our region, making for memorable gift-giving during the holidays and beyond.

If you prefer your gifts without a shiny bow, gift an “experience” of tickets to an outside concert, picking up a meal from the local family-run restaurant, or hosting an intimate party with a few friends and family. Events like these are a great way to make memories and stay connected with one another, while also providing opportunities to support small businesses and help sustain the local economy.

Better yet, continue the movement beyond the holidays. Show support for entrepreneurs and small businesses throughout the year by shopping locally and encouraging your friends and neighbors to do the same. Post a picture or video of your favorite locally sourced product and share it on social media as inspiration for others.

To learn more about how New Tripoli Bank supports local small businesses and the community, you can listen to testimonials from our business customers and the nonprofits we support.

Kate Hart-Zayaitz is New Tripoli Bank's Chief Lending Officer and Senior Vice President. Kate has spent many years working for various community banks in our area. She was born and raised in Emmaus and has been involved with multiple banking and economic organizations throughout the Lehigh Valley.

Nobody likes tricks when it comes to banking. At New Tripoli Bank, we focus on the “treats” that distinguish us as your trusted bank.

We do business the old-fashioned way – one customer at a time - partnered with today’s conveniences like mobile/online banking. It’s been our philosophy since we opened the doors 112 years ago, and it continues to help us serve the unique needs of our customers today. 

Community banks’ relationship focus has made us America’s favorite lenders according to a Federal Reserve small business credit survey, with approval ratings well ahead of those megabanks and online lenders.

It’s not just proximity that wins repeat business. Unlike credit unions and the Farm Credit System, New Tripoli Bank effectively serves both individuals of modest means and agricultural borrowers without taxpayer-funded subsidies.

We put our dollars to work right here in the Lehigh Valley, helping to support local school districts, fire departments, EMS departments, and other municipal services. New Tripoli Bank also helps fortify our community through philanthropic outreach and civic service. In 2021 alone, New Tripoli Bank donated over $200,000 to local aid organizations, fire departments, and historical societies.

Our employees volunteer to help in our community. They sit on the boards of the East Penn, Greater Lehigh Valley, and Western Lehigh Chambers of Commerce. Members of our organization volunteer with food banks, churches, youth sports associations, and emergency services all around the valley. For example, volunteers from the bank helped stock shelves at the Lowhill Food Pantry and others handed out free ice cream to patrons of Pioneer Apple Fest.

The treats don’t end there. Community banks have a strong track record of helping underserved Americans by providing greater flexibility to low-income and minority borrowers. It’s the community banking way. New Tripoli Bank is committed to providing community development loans that provide financing for the construction of affordable housing, non-profit organizations serving low-moderate income markets, local and state community development projects, and community revitalization efforts.

We won’t disguise tricks as treats or leave customers holding the bag during times of need. Our fates are linked, so when good things happen for you, New Tripoli Bank and our community win as well. That’s the community banking difference, and it’s pretty sweet.

Autumn is here and while the leaves and temperatures are falling, it seems like the price of food and gas aren't following suit. On top of that, the changing season means more reasons to spend money including increased utility bills, updating your winter wardrobe, and planning for holiday purchases. Here are some tips to help you rake in some savings this fall season.

Winter-proof your home. Some TLC in the fall goes a long way toward cutting down on winter utility bills. Consider improving your home insulation by caulking or  using weather-stripping on windows and doors, and clean out your gutters to help with drainage. Cleaning or changing your furnace filter and checking if your roof is in need of repairs are two economical habits essential to prepare for the winter months. You should also consider switching to energy-efficient lightbulbs; though they cost more upfront, they'll save you money on electric bills in the long run.

Save on Appliances. Keep an eye out for your household appliances that are in need of replacing. Stores will put appliances on sale during the fall season to make room for new inventory and the latest models that come out just in time for holiday shopping. If you're shopping in person, ask sales associates if you can purchase floor models, which often come at a discount.

Clean Out Old Items. Take a long, hard look at your closets and storage spaces: they're probably full of items you haven't used in several years! Fall is a great time to clear out these items and make some additional cash while you're at it. Reach out to your neighbors about hosting a garage sale to sell off old, unwanted items, or post them to online shopping sites like eBay or Facebook marketplace. If you have a lot of old, still wearable apparel, clothing swaps are a great way to change up your wardrobe without spending a dime.

Set a Budget. Did you spend a little too freely over the summer? Fall is the perfect time to get your budget back in line. Go over your expenses and identify areas where you can cut back. With the holidays fast approaching, saving extra cash now means you'll have more in your pocket for holiday purchases. New Tripoli Bank's online banking tool makes it easy to track your spending and allows you to set up automated bill payments to make sticking to your budget simpler.

Embrace DIY. Before you spend money on autumn accessories or Halloween décor, tap into your inner artist! Fall is a great time for DIY projects which can be a fun, cost-effective activity to enjoy with your family.

Finding ways to be frugal this season can help you save money while allowing you to enjoy everything the fall season has to offer. The best way to get started with your savings goals is signing up for Free Checking with New Tripoli Bank, which gives you access to our online banking tools that make it easy to keep to a budget.

With the government unveiling its sweeping new student loan forgiveness plan, millions of Americans are going to be looking for a piece of the debt relief package. This is the ideal setting for scammers to swoop in and take advantage of people's eagerness, tricking them into giving up sensitive personal and financial information.

You may be asking yourself "what do I have to do to claim this student loan relief?" You can read the full statement from the White House about the loan forgiveness program here https://studentaid.gov/debt-relief-announcement/

Before you click any email links or enter personal information into unfamiliar websites claiming to be official government pages, here are some tips to keep yourself ahead of the scammers trying to steal your identity.

Subscribe to official email updates from the Department of Education. As part of their announcement of the debt relief plan, the White House has set up a website where you can register to be notified when the loan forgiveness process officially opens. If you are seeking Public Service Loan Forgiveness, visit PLSF.gov to learn more and apply.

Never click on links from unexpected emails. If you haven't signed up for official updates from the Department of Education and you receive an official-looking email regarding student debt relief, don't reply or open any attachments. Before clicking any links, mouse over the link to see if the address pop-up contains a legitimate .gov URL.

Don't email personal and/or financial information. Email systems are not encrypted; therefore, emails should not contain confidential information. If you are asked to visit a website to provide personal or financial information, you should instead visit https://studentaid.gov/ to confirm the loan forgiveness process is officially open; this is the official website of the debt relief program and any application process will be located here.

Don't be fooled by urgent requests. The government will provide a very clear timeline well in advance of any cutoff date for applications. If you receive an email emphasizing the urgency of filling out an application and/or submitting information, this is most likely a scammer trying to take advantage of you.

Ignore anyone asking for money in exchange for debt relief. The government's debt relief program is entirely funded by taxpayers and will not require you to send money to anyone.

If you think you or someone you know have been the target of a scam, you should contact your financial institution as well as contact the FTC.

Cybersecurity should not be limited to the home, office, or classroom. It is important to practice safe online behavior and secure your Internet-enabled mobile devices whenever you travel. The more you travel and access the Internet on the go, the more cyber risks you will face. No one is exempt from the threat of cybercrime, at home or on the go, but you can follow these simple tips to stay safe online when traveling.

Before You Go

• Update your mobile software. Treat your mobile device like your home or work computer. Keep your operating system software and apps updated, which will improve your device’s ability to defend against malware.
• Back up your information. Back up your contacts, photos, videos and other mobile device data with another device or cloud service.
• Keep it locked. Get into the habit of locking your device when you are not using it. Even if you only step away for a few minutes, that is enough time for someone to steal or destroy your information. Use strong PINs and passwords.

While You Are There

• Stop auto connecting. Disable remote connectivity and Bluetooth. Some devices will automatically seek and connect to available wireless networks, and Bluetooth enables your device to connect wirelessly with other devices, such as headphones or automobile infotainment systems. Disable these features so that you only connect to wireless and Bluetooth networks when you want to.
• Think before you connect. Before you connect to any public wireless hotspot – like on an airplane, in an airport, hotel, train, bus station, or café – be sure to confirm the name of the network and exact login procedures with appropriate staff to ensure that the network is legitimate. Do not conduct sensitive activities, such as online shopping, banking, or sensitive work, using a public wireless network. Only use sites that begin with “https://” when online shopping or banking. Using your mobile network connection is more secure than using a public wireless network.
• Think before you click. Use caution when downloading or clicking on any unknown links. Delete emails that are suspicious or are from unknown sources. Review and understand the details of an application before installing.
• Guard your mobile device. Never leave your mobile devices–including any USB or external storage devices–unattended in a public place. Keep your devices secured in taxis, at airports, on airplanes, and in your hotel room to prevent theft and unauthorized access or loss of sensitive information.

Common Cybersecurity Threats While Traveling

• Unsecured wireless networks. While public wireless networks provide great convenience by allowing people to connect to the Internet from anywhere, they are unsecure and provide cyber criminals with a back door to access to your Internet-enabled devices. Beyond the typical public wireless networks found at airports, restaurants, hotels, and cafés, they are increasingly available in other places, such as on airplanes and in public parks.
• Publicly accessible computers. Hotel business centers, libraries, and cyber cafés provide computers that anyone can use. However, travelers cannot trust that these computers are running the latest operating systems or have updated antivirus software. Cyber criminals may have infected these machines with malicious viruses or installed malicious software. One example is keylogger malware which, when installed, captures the keystrokes of the computer’s users and sends this information to the hacker via email. Through this malware, criminals can receive users’ personal information, such as names, credit card numbers, birthdates, and passwords.
• Physical theft of devices. Thieves often target travelers. Mealtimes are optimum times for thieves to check hotel rooms for unattended laptops. If you are attending a conference or trade show, be especially wary — these venues offer thieves a wider selection of devices that are likely to contain sensitive information, and the conference sessions offer more opportunities for thieves to access guest rooms.

Stop.Think.Connect.™ is a national public awareness campaign aimed at increasing the understanding of cyber threats and empowering the American public to be safer and more secure online. The Campaign’s main objective is to help you become more aware of growing cyber threats and arm you with the tools to protect yourself, your family, and your community. For more information visit www.dhs.gov/stopthinkconnect.

At new Tripoli Bank, we understand the importance of helping our community's youth build a strong financial foundation so that they better understand basic concepts like budgeting, simple interest, and establishing and maintaining good credit. I recently read that currently only 21 states in the U.S. require high school students to take a course in personal finance and found it surprising that such a necessary life skill is not a top priority of our education system.

Financial capability education and financial literacy improves the financial health outlook for our youth, better preparing them to tackle unexpected financial situations or be ready for significant life milestones like paying for college, purchasing a home, opening a business, or building a nest egg.

For Gen Z and their parents looking to shore up money management skills and prepare for life in the real world, I'd like to offer the following tips to start you on your journey to good financial literacy.

Set SMART goals

In this case, SMART stands for Specific, Measurable, Attainable, Realistic, and Trackable goals. Choose selective, realistic priorities—whether it's saving for your first automobile or building an emergency fund—and make sure they are achievable. Create a plan of action and measure your progress over time; being able to visualize your progress can motivate you to continue your saving journey.

Start a Savings Account

Did you know you can now open a savings account at New Tripoli Bank completely online? New Tripoli Bank's online and mobile banking tools offer automated money management services for our customers, so you can set up automatic monthly transfers from your checking account to your savings account. Utilizing automated functionality to handle these transfers makes reaching your savings goal less of a hassle.

Consider Seasonal Employment

If you are a student of working age, you should consider filling your free time between school years with part-time or seasonal employment. A job helps you learn more about personal responsibility and provides an opportunity to manage expenses.

Track Your Spending

Take the time to track your monthly spending, then use that information to create a budget. Make sure to review it periodically and make necessary adjustments. Regularly tracking your spending will help you avoid impulse purchases that act as obstacles on your savings journey. New Tripoli Bank's online banking tool has money management tools that help you set monthly budgets and track your spending compared to your goals, so you can adjust your spending habits effectively.

Understand Risk & Reward

For older students with a comfortable financial situation, consider dipping your toe in the wide world of investment. Knowing how stocks, bonds and mutual funds can affect a portfolio shows you how financial decisions can grow—or shrink—your savings. Some high school classes and financial literacy-based websites provide simulations of how investments work in the real world.

Build Your Credit Score

Your credit score is a representation of your financial past, present, and future. A good credit score makes it easier for you to finance the purchase automobiles or homes, rent an apartment, and get a credit card with a good rate. Parents should consider adding their children to their credit cards to help them build credit while being able to monitor their spending.

Gaining knowledge about how to best manage your money is just the start. When young adults practice proper money management techniques early, they're more inclined to make effective financial decisions throughout life. The sooner your children start to grasp these concepts, the more apt they'll be for a better financial future.

The idea of “sustainability” is linked to a lot of local activities these days—whether it’s reusing or recycling products, sampling culinary delights from a local bakery, or choosing to buy American-made products to support our national economy. There are plenty of reasons why eating, dining, and banking locally makes good economic sense.

If you’ve ever wondered if it matters where you deposit your hard-earned money, let me assure you it does. Not only does banking locally support small businesses (community banks fund more than 60% of small business loans and more than 80% of ag loans), but as locally owned and operated businesses themselves, they are part of the economic engines that create 62 percent of new jobs annually.

Community banks like New Tripoli Bank take in deposits and make loans that keep funds right here in the Lehigh Valley and feed our local economy. It is all part of the strong relationship that community banks have with the communities they serve, and the proceeds from those businesses employ residents, fund municipalities, and continue the cycle of local economic growth.

And if you need more proof, consider the community bank response to the coronavirus pandemic.

• Community banks, as economic first responders, made 60 percent of total Paycheck Protection Program loans to small businesses, including 72 percent of PPP loans to minority business owners.
• Community banks outpace large banks in their average number of banks operating in both rural and urban markets by a 3:1 ratio.
• Community banks are the preferred small business lenders, with an 81 percent net satisfaction score compared to 68 percent for large banks and just 43 percent for online lenders.
• Community banks have consistently demonstrated their safety and soundness with higher capital ratios and better loan quality than larger institutions.
• Community banks operate in areas abandoned by others—serving as the only physical banking presence in nearly one in three counties.

But it is not just about stats. When customers contact New Tripoli Bank, they are greeted by a talented team member who is attuned to their needs and empowered to act on their behalf.

And when our employees log volunteer hours in support of the Lowhill Food Pantry or Miracle League of the Lehigh Valley or when New Tripoli Bank contributes to East Penn Restaurant Week or the Allentown Symphony Orchestra, we are working toward our goal to ensure economic prosperity for the community we call home.

April is Community Banking Month, and I want to thank our customers for putting their trust in us for their banking needs. For our neighbors who may be considering a switch, I implore you to take a closer look at New Tripoli Bank to discover how we can help you realize your financial dreams.

At New Tripoli Bank, we pledge to never lose sight of the all-important relationship and the personalized service our customers expect. After all, at New Tripoli Bank, people are more valuable than money.

Remember, we are all in this together. Community banks like ours are only successful if our customers and communities are, too. That is why community banks and our relationship business model have thrived for more than 110 years. We know what it takes to create successful local economies. Join us in helping to build a more sustainable, vibrant economy here at home!

High wire artist and daredevil Karl Wallenda was internationally known for his dangerous stunts, often performed without a safety net. For years, he performed daredevil feats to countless audiences of stunned onlookers. Unfortunately, on March 22^nd, 1978, Karl’s luck finally ran out, while walking a tight rope over one hundred feet in the air suspended between two towers of a hotel in Puerto Rico. A combination of faulty rigging and strong winds tripped up Wallenda, who fell to his death.

While it can be tempting to follow in the footsteps Karl Wallenda and take risks without a safety net, when it comes to money, it’s extremely important to understand and effectively manage your risks to ensure financial wellness. Here are several tips to keep in mind when handling financial decisions in the new year.

Maintain Adequate Emergency Funds

Before you make any important decisions, you should make sure you can pay for your regular living expenses. At the very least, opening a small savings account of $2,000 or less can help you weather short-term, unexpected hiccups without leaving you stressed about your bills. If you have the option, a long-term savings account with several months of living expenses will keep you solvent in case of larger financial crises such as a job loss or unexpected medical issue.

Find a Second Income Source

Piggybacking on the previous paragraph, another way to protect yourself from the financial stress of job loss is to diversify your sources of income. While not everyone has the time to start a side hustle, even something as small as selling old collectibles online can add some extra money to your emergency fund. If you’re able to put money into investments, you can even earn additional money without having to commit time to a side hustle or second job.

Minimize Your Debts

Debt often carries a higher interest rate than savings or investments and taking on excessive debt is one of the highest barriers to entry for most American families. This is what’s called a debt spiral, where an individual feels a loss of control thanks to chains of ever-increasing debt obligations. By staying away from excessive debt, you can maintain greater control over your finances, which helps to reduce stress.

Maintain Good Health

Speaking of stress: staying physically fit is not only good for your health—it also positively impacts your financial wellness! You’ll find that it costs less money to maintain good health, by taking steps such as regular exercise and healthy eating, than it will when you need expensive medical procedures to fix the physical ailments and diseases that come with poor health. While it is easier said than done, what better time than the New Year to commit to starting that diet or exercise plan?

Life is full of risks, so it’s important you do what you can to protect yourself. The goal of financial wellness is to reduce the overall stress that comes with budgeting and financial planning and putting yourself in a good enough financial situation where you can start thinking about things like investing and wealth generation.

As we head into November, the weather starts to get colder, the sun starts to get lower, and the holiday shopping season officially begins! With all the hustle and bustle of Black Friday deals and Cyber Monday discounts, trying to find the perfect gift, this time of year can be perilous for the unwary shopper. Every year around this time, incidents of fraud rise as criminals use the increased shopping activity to scam victims out of money, personal information, or even their purchases themselves.

Before you begin holiday shopping this year, take some time to familiarize yourself with the best practices for shopping safely. "Know Before You Shop" is critical to you having a happy holiday season!

Shop with reputable retailers

It’s best to shop directly with online retailers you know and trust. Bookmark your favorite shopping sites to get there quickly and safely. Avoid typing the name of the retailer into your browser bar.

A tiny typo could land you on a fake site that looks just like the real one. Many scammers create lookalike websites and buy URLs that are similar to legitimate retailers, in order to catch consumers who enter addresses containing typos. You might make a “purchase” on one of these illegitimate sites and unwittingly hand the scammers your credit card number and other personal info.

Vet new-to-you businesses

Did you spot an amazing product from a new seller? Make sure you do your homework and research any business you’ve never purchased from in the past. Look for online reviews and search the Better Business Bureau website for complaints. Check the “contact us” page on the website for a U.S. address and phone number. Then take it a step further: call the business to verify.

Why? The FBI reported that some scammers hijack the contact info of real U.S. businesses to make their shady site look legitimate.

Beware amazing deals

Did you spot an ad on Facebook or Instagram offering rock-bottom prices or an eye-popping offer of free stuff? Reports of lost money from social media scams have more than tripled in the past year, according to the U.S. Federal Trade Commission (FTC).

Remember, if an offer looks too good to be true, it probably is! The FBI found that many sites at the center of its recent spate of complaints were advertised on social media platforms.

Always compare prices before you buy. Abnormally low prices could be a red flag that you’ve landed on a fake site that’s been set up to snag your personal information or steal your money.

Don't browse on public Wi-Fi

Avoid shopping from public Wi-Fi next time you’re sipping a latte at your favorite coffee shop. The guy staring at his phone at the next table could be a hacker spying on your online activity.

Shopping online often requires giving out information that an ID thief would love to grab, including your name, address and credit card number. You should be mindful of your surroundings whenever you're entering personal information; you never know if someone is watching over your shoulder.

Check site security before you buy

Look for a lock icon in the browser bar of a site to verify that they use SSL (secure sockets layer) encryption. The URL should also start with “https” rather than just “http.”

Secure websites are configured to mask the data you share, such as passwords or financial info. Shopping exclusively on secure sites reduces the risk that your private information will be compromised while you shop.

Don’t fall for email scams

You might get emails or texts offering amazing bargains or claiming there’s been a problem with a package delivery. Delete suspicious messages from unfamiliar senders. Don’t open attachments or click links in unsolicited or unexpected messages, because they could infect your computer or phone with viruses and other malware that can steal your personal information or require costly removal.

Guard your personal information

Here’s a general rule: No shopping website should ever ask for your Social Security number. If a site does request this type of very personal information, run in the other direction!

Get in the habit of providing the minimum personal information necessary in order to complete your purchase.

Keep an eye out for fraud

Double-check your bank and credit card statements for fraudulent charges at least once a week. Alternatively, set up account alerts to notify you of any new activity on your card. When you receive a text or email notification, you can check your account to make sure you recognize the charge.

Mind the details

After you make the purchase, keep the details in a safe place. Hang onto the receipt, your order confirmation number and the tracking number the seller provides. If you have a problem with the order, this information will help you quickly resolve the issue.

Track your stuff

After you make an online purchase, keep tabs on it to make sure it’s headed your way. If the merchant refuses to provide shipping information or respond to your requests for the status of your order, contact your credit card issuer for help. They may remove the charge from your bill and look into the matter.

Report scammers

Did you get scammed? If so, file a complaint with the U.S. Federal Trade Commission and the FBI’s Internet Crime Complaint Center. Tip: If you suspect you may be a victim of ID theft, the FTC offers an identity theft recovery plan.

But following these online shopping safety tips may help you foil scammers and avoid becoming a target in the first place.