OVB ready for Get Smart About Credit campaign

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Halloween is just around the corner. While ghosts and goblins might scare you, don’t let your credit do the same. To help promote the importance of maintaining good credit, Ohio Valley Bank is once again taking part in the American Bankers Association’s Get Smart About Credit initiative.

Get Smart About Credit is a national campaign comprised of bank volunteers who help youth understand credit and other important financial lessons. Now in its 16th year, this year’s event will again reach children across the country. Get Smart About Credit Day will be held Thursday, Oct. 18, however, OVB is set to celebrate the event throughout the month of October and the fall season.

Credit lessons will be incorporated into OVB’s financial education programs, which include elementary through high school grade levels. OVB will present Adventures in Credit, featuring the Centsables, to area elementary schools. Get Smart About Credit lessons will also be a focus in the OVB BANKit program, which is currently being conducted on a monthly basis at six local schools in Ohio and West Virginia.

The primary purpose of Get Smart About Credit is to prepare students to join the workforce by making sure they have a strong understanding of credit and other money management skills. Get Smart About Credit works to teach students that credit education is more than paying for college, credit cards and loans. The campaign aims to show that a true understanding of credit also encompasses budgeting, credit report comprehension and identity protection. By promoting these important lessons in area schools, OVB hopes to make an impact on our future generations.

Looking for ways to improve your credit or topics to help teach your kids about credit? We’ve got you covered with these helpful tips:

  1. Pay your bills on time. This sounds like a simple concept, right? However, too often people find themselves making late credit card payments. To make sure this doesn’t happen to you, set up alerts on your phone as a reminder to get those bills paid on time. If you are able, pay your bill in full. If not, at least make sure to pay the minimum when due.
  2. Watch for warning signs of credit trouble. If you find yourself using credit for all purchases or always making late payments and/or barely scraping by to afford your minimum amount due, you’re already in trouble. The best thing to do in this situation is pay what you can and avoid making any more purchases with your credit card. If you are feeling overwhelmed ask your bank if they have any suggestions to help you get back on track.
  3. Budget, budget, budget. Setting and sticking with a budget is the first step to financial freedom. By adhering to a spending plan and working to build your savings, you will be less likely to overspend on credit cards, which will also help you save on added fees, such as interest costs.
  4. Think before you spend. Often those who encounter credit issues make the common mistake of purchasing items via credit without truly thinking about what it is they are purchasing. Do not pay for things using credit without understanding how it may affect your budget first. Make sure that you will have the means to make payments on your purchase before you reach for the credit card.
  5. Take advantage of your annual free credit report. It is recommended to have your credit checked annually to review for any possible errors on inaccuracies. By doing this you also help protect yourself against the dangers of identity theft. Check your credit for free annually by going to annualcreditreport.com, the official site set up by law from the three national credit reporting agencies. Be sure to type in the address exactly as is since there are many “lookalike” sites, which can charge you for the report or a subscription fee as well as collect information from you for marketing purposes.
  6. Utilize your bank services. Banks are more than money in a vault. They offer valuable services that students can benefit from, including student checking accounts, debit cards, mobile and online banking, balance alerts, personal loans, direct deposit and more. OVB also offers Benjamin Tracker, a helpful tool to help you stick with your budget and not overspend. In addition, OVB also offers a variety of financial education programs.
  7. Ask questions. Whether you are a student looking for advice or an adult wanting to improve your financial circumstances, ask for help. Your local banker is a great place to start.

For more information on OVB’s financial education programs or to schedule a presentation, e-mail OVB Financial Literacy Leader Hope Roush at hdroush@ovbc.com.

OVB celebrates Teach Children to Save Day

The key to building financially strong individuals and communities is education at a young age. Many people see financial responsibility as limited to adults, but it’s never too early to teach children how to be money savvy.

In an effort to help children understand the value of a dollar, the American Bankers Association established Teach Children to Save Day, which is being celebrated today. April also serves as Financial Literacy Month. According to the ABA, Teach Children to Save along with the foundation’s other financial education initiatives has reached 9.1 million young people through the commitment of more than 225,000 banker volunteers, including Ohio Valley Bank.

OVB celebrates Teach Children to Save the entirety of spring, and will do program presentations in the fall and winter upon request. Recently OVB took part in a Career Day at Washington Elementary in Gallipolis, Ohio. OVB Financial Literacy Leader Hope Roush discussed the different careers in banking as well as stressed the importance of saving. Along with materials provided by the ABA, OVB also uses the campaign as an opportunity to utilize the Centsables Adventures in Saving program, which is a fun, interactive lesson on saving. Topics included in the presentation focus on the following:

  1. Wants vs. needs
  2. Creating a savings plan
  3. Making deposits

Parents are encouraged to share the Teach Children to Save message as well. Both the ABA and OVB offer the following tips to help parents teach their children valuable financial skills:

  1. Set the example by being responsible yourself. This is accomplished by paying your bills on time, being a conscientious spender and an active saver. Remember children often emulate their parents’ personal finance habits.
  2. Talk openly about money with your kids. Communicate your values and experiences with money. Encourage your children to ask you questions, and be prepared to answer them.
  3. Teach them to understand the difference between needs and wants. Discuss the value of saving and budgeting as well as the consequences of not doing so.
  4. Open a savings account for your children. Take them with you to make deposits so they can learn how to be hands-on in their money management. At OVB ask about our Statement Savings account, which does not require a minimum balance for customers ages 18 and under.
  5. Tell your family and friends about your child’s savings goal. This can help your child save money with the cash they receive for special occasions, such as holidays and birthdays.
  6. Encourage kids to use Benjamin Tracker inside OVB NetTeller to keep track of savings goals. It’s a great visual to show the benefits of savings.

To schedule a Teach Children to Save presentation or for more information on OVB’s financial education programs for children and youth, contact Roush at hdroush@ovbc.com. Presentations are currently being scheduled now through December 2018.

OVB to take part in Get Smart About Credit

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OVB Financial Literacy Leader Hope Roush presents Adventures in Credit to area school.

October is not only about Halloween, it also plays host to the American Bankers Association Get Smart About Credit event. Don’t let your finances scare you. Be sure to Get Smart About Credit!

Ohio Valley Bank will once again celebrate the event this month with their financial literacy programs. Now in its 15th year, Get Smart About Credit is a national campaign sponsored by the American Bankers Association to help youth understand credit and other financial lessons. Get Smart About Credit Day will officially be held Thursday, Oct. 19, however, OVB will be celebrating the event throughout the fall season.

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Make Successful New Year’s Resolutions

Happy New Year Hat Times Square New YorkJust like that another year is coming to a close. As we prepare to bid 2015 farewell, many people are busy coming up with their 2016 New Year’s resolutions.

Ah New Year’s resolutions—those lofty goals we set to start the New Year right but often see ourselves failing to maintain as early as February. This year, however, just maybe we can all stick to our resolutions with some better planning.

By adhering to the following tips you might be able to make and KEEP your New Year’s resolutions for 2016: Read more of this post

It’s Never Too Early to Learn to Save

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by Hope Roush, OVB Financial Literacy Leader

It’s never too early to learn how to be money savvy, and as an effort to teach children the value of a dollar, the American Bankers Association established Teach Children to Save Day. This year’s celebration took place Friday, April 11. According to the ABA, Teach Children to Save has reached more than six million young people through the commitment of 134,200 bank volunteers. In addition to the day itself, the ABA encourages participants to spread the Teach Children to Save message throughout the month of April and spring season.

Ohio Valley Bank once again took part in Read more of this post

5 Cool Things You Might Not Know OVB Has

Ohio Valley Bank is a community bank.  We offer a small town vibe with small town customer service.  Your neighbor down the street could be the one taking your deposit, and that is part of what makes community banks great.  However, that doesn’t mean we can slack on bringing you the best in technology, convenience and useful products.  Even our best customers might miss out on something we release from time to time, so today I’m going to talk about a few of those things you may have missed.

Money Island & The Centsables

One thing all kids (and I) have in common is the love of playing games.  That’s why we offer Money Island.  Money Island is an online, virtual world where kids can log into a safe environment, play games, build a virtual home and learn how to be financially sound.  Check out the story of Stone Broke in the video below. Read more of this post