Independent Bank Helps McKinney Church Restore Historic Home

Posted on May 15, 2012 by Matt Kennedy

By Matt Kennedy
Marketing Coordinator

Weathered paneling, tattered blinds and worn carpet were just a few of the problems marking a historic home that had seen better days. The home, which sits squarely in the historic district of McKinney, TX on Lamar Street had undeniable charm, but needed help. When a “for sale” sign went up, St. Peter’s Episcopal Church stepped in.

With financing from Independent Bank, St. Peter’s was able to purchase the home, which is centrally located in an area that connects all the church’s other properties and will be used as a rental home. Rev. Michael Hoffman was pleased with the speed of the interim construction loan that Independent Bank lender Greg Steglich closed with St. Peter’s in November.

“The financing was an exceptionally easy process,” Rev. Hoffman said. “The bank met us where we were and responded to our unique needs.”

Once financing was secured, Ed Carel and Integrity Custom quickly went to work on the home. Carel, a contractor who has over two decades of experience in renovating historic homes, considers Rev. Hoffman to be a “visionary.” Carel met with the St. Peter’s staff in December and began the renovation project in January.

“St. Peter’s was wonderful to work with on this project,” Carel said. “Many of my vendors were willing to discount their work to help the church.”

Carel said that you need to posses a vision for “what can be” when buying a historic home. With patience, Carel said the result is worth it, as restoring “old gems” back to their original condition is what he loves most about his job.

“This house could have been easily passed up because of its poor condition,” Carel said. “It took only three months and a relatively modest budget to bring this piece of McKinney nostalgia back.”

The most dramatic changes to the home involved a skillful demolition of the main area. Carel’s team exposed and stained the wood floor that lay beneath the shag carpet. Cedar paneling was removed from a converted porch and makeshift living space to make it a porch once again.

“We had no idea what to expect,” Carel said. “Once we began the demolition of this area it was exciting to see much of the original material behind the shag and cedar on display once again.”

Carel said the finished product received many supportive comments from neighbors, some of whom remember the house when it was still in its original state over 40 years ago.

The renovated home was not the first St. Peter’s has renovated. As a church that has been a part of McKinney for over 130 years and is landlocked in the middle of the historic district, St. Peter’s has been creative with the growth of its facilities. The church converted a nearby home into its office and another home into space for its youth ministry.

According to Rev. Hoffman, the Lamar Street home could be used for a number of possibilities in the future, from a parsonage or rectory for a staff member to a shelter for families in need. Until the project is paid in full though, Rev. Hoffman said the house will be a rental property.

Rev. Hoffman considers St. Peter’s renovation of the Lamar Street house part of the church’s mission to impact the community, in much the same way the church feels called to work with local charitable organizations and schools.

“Churches are not institutions or buildings,” Rev. Hoffman said. “Churches are communities of believers who join together for worship and to work together to make a difference for the kingdom of God.”

Independent Bank shares St. Peter’s commitment to the community and is dedicated to continue efforts to better the communities it proudly serves.

Independent Bank. A Partnership You Can Bank On.

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Hassle-Free Loans Make Star Smiles Pediatric Dentistry Beam

Posted on April 12, 2012 by Matt Kennedy

By Matt Kennedy
Marketing Coordinator

Star Smiles Pediatric Dentistry in Georgetown, TX found out that stress is not part of the equation when asking for a commercial real estate loan from Independent Bank.

Relationships thrive when trust and responsibility are present. Independent Bank’s responsibility is to uphold our clients’ trust by treating them differently than large, impersonal banks. That responsibility extends to the perceived stressful task of asking for a loan.

When Star Smiles needed a commercial lot loan, they turned to Independent Bank. What they found was something different than they have ever experienced. Adrian Gonzales, Star Smiles office manager and partner, said that his interactions with their lender Chris Logue, Independent Bank-Georgetown President, and everyone at Independent Bank have been pleasant and easy.

“We gained simplicity and peace of mind from Independent Bank,” Adrian said. “Getting our lot loan for our new office was the easiest I’ve ever received. Chris has been great from the start and continues to provide great service.”

Other banks may tell you how your loan will be processed in complicated banking terms, direct your questions to an automated phone system, and extend the length of processing your loan. Dr. Kelly Gonzales, Star Smiles partner, found out that Independent Bank lenders like Chris Logue listen to your needs before conversationally explaining possible solutions, answer your calls personally, and work hard to find fast, lasting loan solutions.

“Our commercial real estate loan with Chris was the easiest we’ve ever experienced,” Kelly said. “Chris offers great rates, explains everything simply in layman’s terms and provides great tips on the banking process.”

Star Smiles prides itself on its well-trained staff that loves children and their “mother’s touch to children’s dentistry.” They provide specialized dentistry from infancy to teenage years and care for special needs patients of all ages. Star Smiles focuses on preventative care to help each child have “a smile that will last a lifetime.”

Star Smiles’ relationship with Independent Bank continues on. Once Star Smiles builds its new office, they will be able to offer the same great service geared around kids, only in an expanded and more efficient “child-friendly” environment.

It all started with a loan from Independent Bank, which Dr. Kelly Gonzales rates “five out of five stars.”

Independent Bank. A Partnership You Can Bank On.

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A Realtor’s Tips on Selling Homes in a Buyer’s Market

Posted on March 30, 2012 by Matt Kennedy

By Matt Kennedy
Marketing Coordinator

Desperately scanning the walls to search for areas in need of touchup paint. Cleaning twice a day. Setting out a fresh pot of coffee or baking cookies to help potential buyers feel at home.  In an age when the phrase “it’s a buyer’s market” is on the tip of every listing agent’s tongue, sellers must do whatever they can to entice house hunters.

Whether the market favors the buyer or the seller, Independent Bank’s motivation never changes. Independent Bank is committed to delivering “above and beyond service” through its two proven mortgage partners Square One Mortgage (North Texas) and Independent Bank Mortgage (Austin) in offering customers competitive rates and unmatched personal attention.

Independent Bank has worked with many great listing agents who know what it takes to sell a house. One of those agents is Denice Webb from Halo Group Realty. Webb is currently assisting several clients who are using Square One Mortgage.

Webb said the best way to get a home sold fast in a buyer’s market is to price the home at the seller’s lowest comfort level. However, she likes to appeal to a buyer’s senses by adding soft music or an appropriate scent when showing a home. According to Webb, improvements to the outside of a house can be just as important as changes to a home’s interior.

“Curb appeal is everything,” Webb said. “I always suggest brightly colored flowers planted in pots around the front and a clean, freshly painted front door.”

Visualization is an important part of a buyer’s process when looking at homes. Making a home look like a place where friends will want to visit and stay helps to “bring life” to a home.

“I love to make conversation pits to make the house look homey and inviting,” Webb said. “I like to put couple of chairs together with a table and a lamp between them. One chair usually has a pillow on it, and the other has a throw.”

Some improvements may seem important to the seller, but may not improve the resale value of the home.

“Everyone loves an updated kitchen,” Webb said. “But unless your buyers are gourmet cooks, they will not require high-end appliances. I would say to go with black or stainless appliances, but you don’t have to install the top of the line brands.”

As Webb continues the practice of making homes look inviting and “homey,” she said she will continue to use Square One Mortgage (a division of Independent Bank) because she believes they provide excellent service and they don’t lead buyers on by giving them a false sense of hope if they aren’t qualified to purchase a home right away.

“I always hand my buyers three cards in order to help them choose their lender,” Webb said. “I am always glad when they choose Square One and Independent Bank.”

Independent Bank. A Partnership You Can Bank On.

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Building Relationships as Community Life Church Builds its Dreams

Posted on March 1, 2012 by Matt Kennedy

By Matt Kennedy
Marketing Coordinator

Responding to a call is paramount to the relationships Independent Bank lenders form with their customers. When customers tell us where they want to go and what it will take to get there, we take them seriously and diligently work to make their dreams realities.

Kevin Griffin, Independent Bank Regional President, responded to Community Life Church and its pastor Mike Banas in 2007 when they felt the call to purchase their first church property in McKinney, TX.

“Independent Bank allowed us to acquire five acres and our first building in McKinney as a young church,” Banas said. “They had faith in us when we thought we were the only ones who had faith in ourselves.”

Responding to a call is nothing new for Banas. He responded to a call in college when he became a Christian immediately after hearing a gospel message while walking through the campus of Arizona State University. He again responded to a call when he moved his family from Midland to McKinney after Pastor Joe Martin of Trinity Church in Dallas met Banas and discussed his desire to plant a church in McKinney.

As Community Life Church grows from a church that once met in an elementary school to a church of over 400 members, it still desires to be a church that involves every member of its congregation in an area of ministry and to help those in need, whether they be in or out of the congregation. Independent Bank understands that a church is more than its walls and we are proud when churches are able to use loans to extend the reach of their community.

“Independent Bank is a local bank with national influence that is willing to help every segment of its community.” Banas said. “We appreciate their investment in the people who invest in the community they live in.”

Independent Bank. A Partnership You Can Bank On.
Member FDIC, Equal Housing Lender

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2012 Independent Bank: Like the Bank You Love iPad 2 Contest

Posted on January 13, 2012 by indbank

Enter our “Like the Bank You Love” contest today for a chance to win an iPad 2!  To enter, click here to visit our “Independent Bank You Love” photo album on Facebook and “Like” your favorite branch.  Enter by February 13th to be part of this Valentine’s contest!

Official Rules

No Purchase or Obligation Necessary.

  1. Eligibility: NO PURCHASE IS NECESSARY; ONLY ONE ENTRY PER PERSON. Each entrant must be 18 years of age or older in order to participate in the Contest. The Contest is open only to legal U.S. residents. Employees of Independent Bank (“Sponsor” and “Administrator”) are ineligible to participate in the Contest. In addition to the employees of Independent Bank, such employees’ immediate families (spouse, parents, children and siblings and their respective spouses) and individuals living in the same households as such parties are ineligible to participate in the Contest. Void where prohibited by law. The Contest is subject to all federal, state and local laws and regulations. By participating in the Contest, entrants agree to be bound by these Official Rules. In resolving any disputes or issues of interpretation that may arise under these rules, the decision of the Sponsor and Administrator shall be final and binding in all respects.

 

2.  To Enter: The Contest promotion begins at 10:00 a.m. (CST) on January 13, 2012 and ends at 3:00 p.m. (CST) on the day of the drawing on February 13, 2011.

3.  Ways to Enter:

  • Anyone who “Likes” a photo of their favorite Independent Bank branch in the album entitled “Like the Bank You Love” on Independent Bank’s Facebook page (www.facebook.com/IndependBank) during and at the end of the promotional period will automatically be entered for a chance to win an iPad 2. All entries (submitted “Likes”) must be received by 3:00 p.m. (CST) on February 13, 2012.
  • To enter, you may enter the drawing by clicking the “Like” button under the photo of their favorite Independent Bank branch in an album entitled “Like the Bank You Love” on Independent Bank’s Facebook page.
  • You may also enter the contest by completing the entry form available at Independent Bank offices or by legibly printing your name and telephone number and the name of your favorite Independent Bank branch, along with the words “2012 Independent Bank Like the Bank You Love iPad 2 Contest”, on a 3″ x 5″ card. The entry form or card must be mailed by U.S. Mail to Independent Bank Marketing Department, 1600 Redbud Boulevard, Suite 400, McKinney, TX 75069. All mail-in entries must be postmarked no later than February 9, 2012 and received by Sponsor no later than 12:00 p.m. on February 13, 2012. Mechanically reproduced entries will not be accepted. Incorrect, inaccurate and incomplete entries are void.

4.  Prize Drawing Details: There will be one (1) random drawing at the end of the promotional period. There will be one (1) winner. Administrator’s decisions are final in all matters relating to this Contest. The odds of winning will depend upon the total number of actual eligible entries received.

 

5.  Prize Notification: The Sponsor will notify the potential winner by Facebook message or by phone (if entry is submitted on a handwritten entry), which notice shall inform the potential winner of the requirements and procedures for claiming the prize. It is the sole responsibility of entrants to notify Sponsor of any change in their Facebook page status or phone number during the promotional period. Before awarding the prize, the potential winner may be required to complete and sign a Liability Release, a Publicity Release, and an IRS form W-9. The Sponsor will also require that the potential winner verify that he or she is at least eighteen (18) years of age and that he or she has a valid social security number. If a potential winner does not qualify for the prize, if the above documents are not presented by a potential winner to Sponsor within 3 days of prize notification, or if a potential winner cannot be located by Sponsor within 5 days of the drawing and the prize notification tried by the Sponsor to the potential winner by Facebook or phone is returned as disconnected or incorrect, the prize will be forfeited and a second drawing (and subsequent drawings, if necessary) will be held to determine the winner of the Contest, who will be chosen by random drawing by Administrator in accordance with the guidelines and requirements set forth above. Upon verification that the potential winner meets the eligibility criteria set forth above and upon the timely receipt by Sponsor of the above documents from the potential winner, the prize will be awarded to the winner. Entry and acceptance of the prize constitutes permission and consent, where permitted by law, to the use of the winner’s name, photograph, likeness, biography, voice and/or video for advertising or promotional purposes for this and similar promotions, including online announcements worldwide and in perpetuity in any media, which potentially includes announcements on the Bank’s website and all Independent Bank social media sites with the winner’s profile name and photo, now known and hereafter devised (including and without limitation, the Internet) without additional compensation, except where prohibited by law. Upon request, the winner will provide consent to such in writing.

 

6.  Prize: The prize consists of One (1) Apple iPad 2. Approximate Retail Value (“ARV”) of the prize: $499.00. During this Contest promotion, one (1) prize will be awarded at the end of the promotional period. All federal, state and local taxes, if any (and other expenses related to the use of the prize awarded in this Contest not specified herein), are the sole responsibility of the individual winner. The winner may receive an IRS Form 1099 from the Sponsor for the retail value of the prize. No prize substitution, transfer or cash equivalent of the prize is permitted except at the sole discretion of the Sponsor. The prize is non­transferable. A lost or stolen iPod 2 is the sole responsibility of the winner. Under no circumstance will the retail value of the prize exceed $499.00.

7.  General Conditions: By participating in the Contest, entrants agree to release, indemnify and hold harmless Independent Bank, representatives, agents, officers, owners, directors, shareholders and employees (collectively, “Releases”) from and against any and all injuries, losses, damages, claims, actions or liability of any kind resulting from or arising from participation in the Contest or acceptance, possession, use, misuse or nonuse of the prize to be awarded in the Contest. Releases make no warranty or representation of any kind concerning the appearance, safety or performance of the prize awarded as a part of this Contest. Each winner shall bear all risk of loss or damage to the prize after it has been delivered. Any claim or legal action arising or occurring with respect to the Contest, or the awarding, acceptance, use, misuse or nonuse of the prize shall be governed exclusively by Texas law, and shall be heard and resolved in either the federal or state courts located in Collin County, Texas.

Releases assume no responsibility or liability for damages, losses or injury resulting from acceptance of the prize to be awarded in this Contest.

Releases are not responsible for printing or typographical errors in any Contest-related materials; for stolen, lost, late, misdirected, damaged, incomplete, illegible or inaccurate entries; for entries that are lost, misdirected, not entered into the processing system, or are processed, reported, or transmitted late or incorrectly; for entries that are lost for any reason including computer, telephone, paper transfer, human or other error; for electronic computer, or telephonic malfunction or error, including any injury or damage to participant’s or any other person’s computer relating to or resulting from participation in this Contest or downloading any materials in this Contest; or for the inability to access any website associated with this promotion, or process any transaction thereon.

If, in the Sponsor’s opinion, there is any suspected or actual evidence of electronic or non-electronic tampering with any portion of the Contest, or if computer virus, bugs, unauthorized intervention, fraud, or technical difficulties or failures compromise or corrupt or affect the administration, integrity, security, fairness, or proper conduct of the Contest, Sponsor and/or Administrator reserve the right at their sole discretion to disqualify any individual who tampers with the entry process and/or void any entries submitted fraudulently, to modify or suspend the Contest, or to terminate the Contest and conduct a random drawing to award the prize using all non-suspect entries received as of the termination date. Any attempt by an entrant or any other individual to deliberately damage any website or undermine the legitimate operation of the Contest is violation of criminal and civil laws and should such an attempt be made, the Sponsor reserves the right to seek damages and other remedies from any such person to the fullest extent permitted by law.

Sponsor reserves the right to cancel the Contest or to extend the period for the promotional period at any time without advance notice.

8.  Prize Announcement: The winner’s name and likeness may be posted on the Independent Bank website and on all Independent Bank social media outlets after the prize is awarded to the verified winner. For the name of the winner, contact marketing@independent­bank.com.

9.  Address: Sponsor and Administrator: Independent Bank, 1600 Redbud Boulevard, Suite 400, McKinney, Texas 75069

10.  This promotion is in no way sponsored, endorsed or administered by Facebook or Apple. The iPad 2 is a registered and trademarked product of Apple. The information you provide will only be used for this promotion, and for communication to the winner.

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Business Planning for the 2012 New Year

Posted on December 29, 2011 by indbank

As the year ends, many companies begin the new year with a focus on business planning. One of the most important tools in business planning is formulating written goals. A Harvard Business School study found that only 3% of all business owners write goals for the upcoming year. The study also found that the 3% with written goals earned up to 10 times as much as the 97% who did not articulate their goals and plans. This study makes it clear that setting and writing goals and plans for your business for the new year can result in increased earnings and more customers.

Excuses for Not Setting Goals

Excuses for not identifying business goals as part of business planning are endless. Some of the most common excuses are that the process is difficult, goal setting takes too much time, written goals are difficult to finish, it is easy to put them aside, and that goals don’t address the actual needs of the business. Every one of these excuses, however, has a solution. Goal setting does not have to be difficult as long as you keep the process simple. One way to do that is to set goals in a series of brief sessions, which also solves the “time-consuming” excuse. At each mini session, require that at least one goal be completed so that they are not unfinished or put aside. Good business planning also requires that the goals be written to specifically address the needs of your business; many analysts recommend including all aspects of the business when setting goals.

The Nuts and Bolts

The biggest problem with incorporating written goals into the business planning process is that too many business owners do not know how to go about creating them. There are four steps to creating useful and manageable goals and plans for the upcoming year:

1. Write down exactly what is your vision for your business in the upcoming year. Include as many aspects of your business as possible, including marketing, accounting, office standards, and other business functions, as well as personal factors that can affect your business operations.
2. Write down what you want to achieve within each business and personal category. Be sure to consider marketing, finances, equipment needs, competitors and other factors that may affect you both personally and professionally.
3. Break each goal down into smaller goals. Set daily, weekly and monthly benchmarks and be sure that all small goals are attainable.
4. Develop a specific action plan. One way to make goals more attainable is by developing a specific timeline to focus on your highest priorities. Selecting a set time and day each week to focus on one main priority will eventually help you form a habit and provide increased consistency. Creating a habit makes it more likely that you will achieve your goals.

Success

Successful business planning requires more than just writing down goals and setting a schedule. The key is to get the plan started and then keep improving on the plan throughout the year. After you create a plan, spend 30 to 60 minutes each week dedicating yourself to the process of reviewing and adjusting the goals as necessary.

Since setting goals has been shown to increase profitability and build business, one of the most important things to do for 2012 business planning should be goal setting. To find bankers equally committed to your success and who are prepared with business banking solutions that can support your business plan and the growth needs of your company, visit www.independent-bank.com.

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Steps to Securing a Commercial Real Estate Loan

Posted on December 21, 2011 by indbank

Becoming familiar with the process of obtaining a commercial real estate loan can reduce stress and give you a better chance of having the loan approved. Following a few simple steps greatly enhances your chances of qualifying for a commercial real estate loan.

Adequate Cash on Hand

One of the first things to do before applying for a commercial real estate loan is determine whether you have adequate cash on hand. This goes beyond the down payment; will you have enough cash to operate the business once the property has been purchased? When it comes to the down payment, be sure that you have between 20% and 30% of the purchase price on-hand when you apply for the loan. Once you have applied, be prepared to demonstrate that you will have the cash available to maintain the property once the purchase has been finalized

Know Your Credit Scores

As with any loan process, having excellent credit is crucial to obtaining the best loan rates. However, because commercial real estate loans are normally larger than a residential mortgage, lenders have more stringent credit requirements for approving commercial real estate loans. In most cases, the principals of the company must have credit scores above 700 to qualify for a commercial real estate loan and the company itself must have a proven track record of paying its bills on time and managing its finances responsibly.

Business Knowledge

An important document to have when applying for a commercial real estate loan is a business plan. A business plan outlines what you envision for as the future of the business, how you plan for the business to succeed and what your experience is in this type of business. If you are planning to open a retail store, it is important that you have some type of demonstrated retail management experience to present to the bank or the lender will be hesitant to invest in the commercial real estate for your business.

Of all the tips for obtaining a commercial real estate loan, one of the best suggestions is to use a local familiar lender. Local bankers who live and work in the communities they serve are more familiar with the area where your business will be located and are often able to provide valuable insight into how to help your business grow. To learn more about the advantages of securing your commercial real estate loan with a Texas bank that is dedicated to the economic vitality of your community, click here!

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Business Banking: Benjamin Franklin Plumbing Finds Their Fit

Posted on December 1, 2011 by indbank

With 280 franchises across the United States, Benjamin Franklin Plumbing’s main goal is to keep customers for life and the business banking services of Independent Bank are helping the Lawton Group, LLC/Benjamin Franklin Plumbing franchise meet that goal.  The motto of Benjamin Franklin Plumbing is “If there’s any delay, it’s you we pay®,” and the company is proud to offer the best warranties in the business.

Winning Attitude

Keresa Richardson, the president of the Benjamin Franklin Plumbing franchise as well as the brand president for Benjamin Franklin Plumbing nationally, is especially pleased with the winning attitude of Independent Bank.  The business banking products such as checking accounts, money markets, personal and business loans offered by the bank have helped the Lawton Group and Benjamin Franklin Plumbing provide quality plumbing, HVAC, refrigeration and roofing services.  Richardson says that the bank has a culture that makes doing business with them a pleasure and their “can-do” attitude is greatly appreciated.

Customer from the Beginning

The Lawton Group/Benjamin Franklin Plumbing has been a customer of Independent Bank since they opened a branch in McKinney.  Richardson says “Kevin (a loan officer at Independent Bank) brings a wealth of knowledge and wisdom to us.  He understands the unique challenges we face every day and is always there to help meet the banking needs of our business.  Kevin is an invaluable part of our business.”  Kevin offers the business banking services that help the company grow.

Challenging Times

These are challenging economic times and many businesses are struggling to succeed in this difficult economy.  However, the business banking services provided by Independent Bank help Benjamin Franklin Plumbing keep its commitment to the customer.  Richardson said they have “enjoyed doing business with Independent Bank since Day One,” and her company looks forward to a long and prosperous relationship.

To learn more about the advantages your business receives by banking with Independent Bank, contact them today to learn about the business banking services.

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Steps to Preventing Holiday Identity Theft

Posted on November 10, 2011 by indbank

The Federal Trade Commission reports that more than 9 million people in the United States are impacted by identity theft every year, and that the holiday season is the most common time of year when identity theft criminals strike.  There are simple steps you can take to help prevent being a victim of identity theft during the holiday season or any time of year.

ATM Safety

Automatic teller machines have become commonplace and have made it much easier for people to withdraw money from their bank accounts.  In fact, you can find ATMs in grocery stores, malls, convenience stores and even in hotel and restaurant lobbies.  However, many people become victims of identity theft due to ATM transactions.  ATMs can be tampered with, allowing thieves to access your account information.  Use only ATM machines at your bank, or at least a nationally recognized bank, in a lighted area.  Be sure that anyone waiting behind you cannot see the numbers while entering your PIN.  Take your receipt and card from the machine immediately.

Online Purchases

When making online purchases, be sure to use only secure websites to keep from being a victim of identity theft.   Be sure that the checkout page on the website is a secure site.  Check the website address to be sure the URL is https:// (rather than http://), as this indicates the site is secure. Purchase from reputable, well-known websites as they often offer buyer protection programs.  When paying your credit card bill, never write your account number on the check.

In the Store

When carrying a shoulder bag, be sure to secure it as closely as possible to your body to reduce the chances it might be snatched, which can lead to identity theft.  Zip all pockets and compartments in your wallet and purse to ensure items that could reveal your identity do not fall out.  Keep receipts in your purse and not in the bag with your merchandise.  Do not place your purse in the seat of a shopping cart and then leave the cart unattended.  Watch for anyone who seems to be standing too close to you in line, as some identity thieves can get information while looking over your shoulder.

By following these simple tips, you can better protect yourself from being a victim of identity theft during the holiday season, and during the rest of the year as well.  Independent Bank is committed to providing you with resources and information to prevent or mitigate fraud.  For more information about identity theft prevention or other benefits of banking with Independent Bank visit our website.

 

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How to Budget your Money for the Holiday Season

Posted on November 3, 2011 by indbank

The holidays are right around the corner, and with an economy still struggling, it may be difficult to determine how to budget your money for the holidays.  It is very tempting to go overboard; it is estimated that Americans will spend an average of $700 on holiday gifts alone this year.  For some, this may mean incurring additional credit card debt if they do not properly budget their money for the holidays.

Gift Budgeting

The first thing to consider when determining how to budget your money for the holiday season is gift giving One idea is to set up a savings plan at your bank It is also important to review your gift list and budget for presents on an annual basis.  Talk to your family about the possibility of scaling back gift giving during the holiday season.  For extended family, such as aunts, uncles and cousins, suggest drawing names in order to reduce holiday gift-giving costs.  Start shopping early rather than waiting for the holiday season to be in full swing.  Highly coveted gifts such as computers and toys are often available at lower prices before the holiday season.   Use old-fashioned wrapping ideas such as the Sunday comics, brown grocery bags or bright tissue paper tucked into the gift bag from the store.

Keeping the Decorating Costs Down 

Gifts are not the only additional expense that occurs during the holiday season.  Decorating for the holidays may also increase your budget.  When planning how to budget your money for the season, determine decorating needs.  One innovative way to save money on decorations and still update your holiday look is to coordinate a decoration swap with friends.  If you have a smaller- than-normal budget this year, scale back the amount of decorating and use only items you have on hand.  Also, you can control energy costs by using a timer with any holiday lighting displays.

Meal Savings

The holidays are a time to gather with family and friends to share good food and create memories.  Unfortunately, holiday meals can get expensive and when deciding how to budget your money, it is important to also budget for the meals you will be serving.  One of the best ideas is to ask guests to bring side dishes to reduce the amount of food you must purchase and prepare.  Cut back on baking during the holidays, as very few people need to add the additional calories of cookies and fudge—no matter how delicious they are.  You can still bake traditional goodies, but just make fewer of them.  Start buying non-perishable meal and baking supplies early, a few each week, to keep from having a large grocery bill just before the holidays.

By using these simple tips, you can prevent the sticker shock that often comes in January when you open those first credit card bills after the holiday season.  These ideas can result in less stress and a more pleasant holiday season.  When it comes to your personal finances, you need a partner that knows where you’re coming from and knows how to secure your money.  Independent Bank has the personal touch and experience that you’ve always wanted in a Texas bank.  Contact us today to learn more about our services.

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