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April is Financial Literacy Month, a time dedicated to raising awareness about the importance of understanding finances and making informed financial decisions. While financial literacy is crucial for individuals of all ages, instilling these principles in children is especially impactful. As parents and educators, we can shape the financial habits of future generations, setting them on the path towards a secure and prosperous future.

Why Does Teaching Kids to Save Matter?

1. Building Financial Habits: Saving is a cornerstone of financial stability. By introducing the concept of saving early on, children learn to prioritize their spending, distinguish between needs and wants, and cultivate disciplined saving habits that will serve them well into adulthood.

2. Understanding Delayed Gratification: Saving teaches children the concept of delayed gratification – the idea that they can wait and accumulate resources to achieve their goals. This essential skill empowers them to resist impulse purchases and make thoughtful decisions about how to allocate their money.

3. Preventing Debt: In today's consumer-driven society, easy access to credit can lead to debt problems later in life. Teaching kids to save instills a mindset of spending within one's means, reducing the likelihood of falling into debt traps as adults.

4. Building Financial Confidence: As children see their savings grow over time, they develop confidence in their ability to manage money effectively. This confidence lays the foundation for more complex financial decisions they'll face as they grow older.

Tips for Teaching Kids to Save

1. Lead by Example: Children often emulate the behavior of their parents and caregivers. Demonstrating responsible financial habits, such as budgeting, saving, and avoiding unnecessary debt, sets a powerful example for kids to follow.

2. Set Savings Goals: Help children set realistic savings goals based on their interests and aspirations. Whether it's saving for a toy, a bike, or a college fund, having tangible goals motivates them to save consistently.

3. Provide Opportunities for Earning: Encourage children to earn money through age-appropriate tasks or chores. By earning their own money, they develop a sense of ownership and are more likely to value the importance of saving.

4. Teach the Value of Comparison Shopping: Teach children to compare prices and look for deals before making a purchase. This teaches them to be savvy consumers and stretch their savings further.

Financial literacy is a gift that keeps on giving, and there's no better time to start imparting these invaluable lessons than during Financial Literacy Month. By teaching kids to save, we empower them to take control of their financial futures, make informed decisions, and ultimately achieve their goals. Let's commit to equipping the next generation with the tools they need to thrive in an increasingly complex financial landscape.

As the snow melts away and we begin to thaw, March brings with it a sense of renewal and possibility. Here are some valuable tips and strategies to navigate your financial journey. We can embrace the month of March with open arms as we delve into some key topics and considerations to help you stay on track towards your financial goals.

1. Tax Prep and Planning:

With tax season upon us, it’s essential to ensure you’re prepared and organized. Take the time to gather all necessary documents, such as W-2 forms, investment statements, and receipts for deductible expenses. Consider consulting with a tax professional to maximize your deductions and minimize your tax liability. Additionally, explore tax-advantaged retirement accounts, such as IRAs and 401(k)s, to optimize your long-term financial planning.

2. Review and Rebalance Your Investment Portfolio:

Now is an excellent time to review your investment portfolio and make any necessary adjustments. Assess your asset allocation, risk tolerance, and investment performance to ensure they align with your financial goals. Consider rebalancing your portfolio to maintain diversification and manage risk effectively. Stay informed about market trends and economic indicators that may impact your investment decisions.

3. Emergency Fund Preparation

Building and maintaining an emergency fund is crucial for financial security and peace of mind. Evaluate your current emergency fund balance and aim to have at least three to six months' worth of living expenses saved. If you haven't already done so, set up automatic contributions to your emergency fund to ensure consistent savings over time. Remember, unexpected expenses can arise at any moment, so being prepared is key to weathering financial storms.

4. Spring Cleaning Your Finances

Just as you declutter your home during spring cleaning, take the opportunity to declutter your finances as well. Review your recurring expenses and identify any unnecessary subscriptions or services that you can cancel or renegotiate. Consolidate accounts and streamline your financial paperwork for greater efficiency and organization. By simplifying your financial life, you'll have more clarity and control over your money.

This March, remember that every step you take toward financial wellness brings you closer to achieving your dreams and goals. Stay focused, stay disciplined, and stay committed to your goals. We’ll continue to provide you with valuable insights and guidance to support you along the way!

Starting a small business is exciting, but it comes with a unique share of financial challenges. From cash flow issues to funding growth, small business owners often find themselves navigating a complex financial landscape. In this blog post we have compiled practical tips and strategies to help small business owners overcome common financial challenges and build a strong foundation for their business.

1. Cash Flow Management
 

The importance of cash flow is crucial to the survival and success of a small business. It ensures the funds are available to support operations and enables planning and decision-making. There are some ways you can track your cash flow like, creating a cash flow forecast, monitoring, and tracking your expenses, invoice promptly and follow up on payments, manage inventory effectively, and creating an emergency fund. These tips will be helpful to your small business especially during a slow season, which is important to plan for as well.

2. Funding for Growth
 

Funding your small business can be intimidating. There are many options to consider. Small businesses loans are a common choice where you can borrow a specific amount of money from a bank or financial institution and repay it with interest over a period. Other options for funding include grants, crowdfunding, angel investors, venture capital, business credit cards, and friends and family. Each funding option has its own requirements so it’s important to research which option best suits your business.

3. Managing Debt Effectively
 

One tip to managing debt is to borrow responsibly. Evaluate your needs before you borrow so that you know how the funds will contribute to the success of your business. Having a repayment plan for those borrowed funds is also important. Be sure to set up a payment plan that fits within your budget. Having a good relationship with your lender is always an advantage, especially if you encounter difficulties.

4. Embracing Technology for Financial Management
 

There are many tools for small businesses to utilize when managing money. QuickBooks and Xero are common accounting software that can help manage your businesses financial transactions, invoices, expenses, and generate important financial reports. Budgeting tools like Mint or You Need allow you to create budgets, track spending and plan for future expenses. Invoicing software like FreshBooks and Zoho allow you to create professional invoices and track payments.

5. Bank Local
 

As a small business, you often will find yourself encouraging people to shop locally. Local community banks are often deeply rooted in the community and strongly support new businesses coming to town. Local banks tend to have personable staff, better rates, and products that compete well with bigger banks.

    By proactively addressing financial challenges, small business owners can position themselves for long-term success. Whether it’s optimizing cash flow, securing funding, or embracing technological solutions. The key is to stay informed, adapt to changing circumstances, and build a resilient financial foundation for your small business.  

Join the Digital Wave: Receive Tax Documents Online

January 31st, 2024, is the deadline to sign up to receive your 2023 statements. If you miss that deadline, we would love for you to still sign up to receive future statements. For 2023, all tax documents will also still be sent via United States Postal Service.

To sign up for E-Statements:

  1. Click on any account, this takes you into the detail & transaction history.

                    

  1. Select “eStatements”
  2. Click on “Sign Up/Changes

  1. Click on the arrow next to each account to see the available statements that you are eligible to receive and select any statements that are not currently selected.


OR uncheck the “Enroll All Available Accounts and Documents Types Shown” and then RE-SELECT to Enroll All so that all available forms will be enrolled.

Depending on your account activity and product type you may see additional options then listed below.

Make sure to click “Save Settings”

Last, Read and Agree to Electronic Statements Disclosure and Agreement.

There are many benefits to receiving your statements and Tax Documents online. Some of those benefits include instant access and timely delivery, going paperless is environmentally friendly, enhanced security, and cost-efficient. If you have any questions or are having trouble, please reach out to any of our 5 branches at 877.653.8900.

We know you’ve been looking for a way to get your tax documents online. Have no fear, you can now receive your tax documents through our online banking platform via eStatements. What are the benefits to this? We thought you might ask. Let's explore the benefits of opting for online tax documents over the traditional paper method.

  1. Instant Access and Timely Delivery

One of the most significant advantages of receiving tax documents online is the instant access to essential financial information. Rather than waiting for paper documents to arrive in the mail, online delivery ensures that you receive your tax documents promptly. This can be particularly crucial as tax deadlines approach, allowing your ample time to review organize, and prepare your taxes with out any delays.

  1. Environmentally Friendly

Choosing tax documents online helps with the global movement towards sustainability. Going paperless significantly reduces the environmental impact associated with the production, printing and transportation of paper documents. By opting for digital delivery you are playing a part in the conservation of resources and help minimize your carbon footprint.

  1. Enhance Security Measures

Security is a top priority at Bippus State Bank when is come to your financial information. Our online eStatements involves secure portals and encrypted communication channels to ensure confidentiality and integrity of your personal information. This level of security surpasses the potential risk associated with traditional mail delivery, reducing the likelihood of your documents falling into the wrong hands.

  1. Convenience and Flexibility

Online tax documents offer convenience and flexibility. Whether you are traveling, working remotely, or simply prefer managing your finances digitally, online access allows you to view and download your tax documents from anywhere. This flexibility helps you stay on top of your financial responsibilities without being confided to a specific location.

Transitioning to estatements and receiving your tax documents online is a smart move that aligns with the modern era’s digital advancements. Tax season is complex, choosing the online route can simplify the process and contribute to a more efficient and eco-friendly landscape. January 31st, 2024, is the deadline to sign up to receive your 2023 statements. If you miss that deadline, we would love for you to still sign up to receive future statements. For 2023, all tax documents will also still be sent via United States Postal Service.

Washington, D.C. (April 4, 2023)—The Independent Community Bankers of America® (ICBA) today announced that Adam Fusselman, SVP of Bippus State Bank, Huntington, IN was elected to serve on ICBA’s Housing Finance Subcommittee ICBA is the nation’s voice for community banks and is committed to its founding mission to create and promote an environment where community banks flourish.

“As a financial steward of my community and advocate for the community banking industry, I’m proud to support ICBA’s efforts to highlight the important role community banks serve both locally and in our nation’s economy,” Fusselman said. “As relationship lenders, community banks remain focused on the needs of their customers, and work hard to earn and retain their trust every day. I’m proud to be a community banker and to be called to serve to preserve our industry’s legacy for future generations.”


In addition to helping shape and promote ICBA’s national policy positions and programs, Fusselman’s duties include engaging in grassroots activities in Indiana to advocate pro-community bank policies and serving as a liaison between community banks and ICBA staff and leadership in Washington, D.C.

“Adam is a respected civic leader and community banker who has graciously volunteered his time and resources to advocate and promote the important role of community banks in our financial system,” said ICBA Chairman Derek Williams, president & CEO of Century Bank & Trust in Milledgeville, Ga. “We are honored that Adam has accepted this appointment and extend our heartfelt appreciation for his ongoing efforts to ensure the future of community banking remains bright.”

 

About ICBA

The Independent Community Bankers of America® creates and promotes an environment where community banks flourish. ICBA is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education, and high-quality products and services.

With nearly 50,000 locations nationwide, community banks employ nearly 700,000 Americans and are the only physical banking presence in one in three U.S. counties. Holding more than $5.8 trillion in assets, over $4.8 trillion in deposits, and more than $3.5 trillion in loans to consumers, small businesses and the agricultural community, community banks channel local deposits into the Main Streets and neighborhoods they serve, spurring job creation, fostering innovation and fueling their customers’ dreams in communities throughout America. For more information, visit ICBA’s website at www.icba.org.

1. In-house service and guidance
 

Whether you’re building or buying a new home, relocating, or refinancing… Applying for a mortgage loan with Bippus State Bank doesn’t just stop with the loan. We’re committed to helping you through every stage of the process so that you understand all the financial details that go into getting your dream home. Your dedicated Bippus Mortgage Loan Officer will get to know you and your financial goals to best guide you through the process from beginning to end.

Using this personalized process, setting up your mortgage is no longer a stress-inducing headache… Instead, it becomes a sigh of relief. Giving you more time to place your attention where it’s most important – your family’s needs for your upcoming transition.

 

2. Flexible terms
 

Our real estate loans and home mortgages are serviced in-house allowing you to receive quick and convenient service. But it also means that Bippus home mortgages can be flexible – we offer terms that will fit your exact needs.

When you apply for a mortgage loan, your Bippus Mortgage Loan Officer will discuss the details with you to come up with a plan that is going to work best for you and your family and offer a flexible plan with the most competitive rates possible. If you’re curious to see what your numbers might look like, check out our Mortgage Calculators for free assessments.

 

3. Get pre-approved
 

In addition to talking through all of your financial goals and setting up flexible terms, Bippus will get you pre-approved (at no cost to you) so that you know before you make an offer that you can purchase that perfect home while staying within your budget. This will save you a lot of valuable time in your home search as well, by helping you filter the options you know will be in your price range.

 
4. Online applications
 

Applying is EASY. You can start with an online application. It’s one less thing to have to worry about scheduling an appointment for, or making a rush stop by the bank to get taken care of.

 

5. Handle all of your banking needs in one place
 

Bippus can help you tackle all of your financial needs. From mortgages to loans to checking accounts to deposit accounts… We have your back with over 100 years of dedicated, personal service. We’re here to make smart banking less confusing, less stressful, and more attainable.

 

Visit the Mortgage Loan Center

Personal Loan Products

 

Our lenders are experiencing a high volume of applications at this time. We appreciate you applying with us, and our officers will be in contact with you as soon as possible.

For further information contact us at 1-877-653-8900.


These days, the importance of banking smarter has become an integral part of finances, with daily impact on overall investments.

You’ll see lots of tips floating around online like, “how to lower your overdraft fees,” “how to go through your monthly expenses to see where you can shift costs,” and “how to get out of ATM withdrawal fees.” (More on that last one down below - we’ve got a hack for that!)

But one of the BEST ways to bank smarter is to open a checking account with a high interest yield.

So what exactly does that mean? What pros come along with it?

Read below to find all the answers to your questions and start making your money work for you!


What is a high interest yield checking account?

A regular checking account doesn’t offer much in terms of accruing interest. Most checking accounts offer a 0.03% interest rate, which could maybe result in a few extra bucks in your pocket…. In a couple of years.

High interest yield checking accounts, on the other hand, offer a much higher APY (Annual Percentage Yield) than regular checking accounts – typically between 1% - 4%.

So what would having a high interest checking account look like in real dollars?

If you had a high interest yield checking account with a 2.5% APY and held an average balance of $2000 in your account, you’ll get significantly more money back from that by the end of the year than you would with a regular checking account.

2.5% of the $2000 balance equals $50. So by the end of the year your account would actually read $2050. The money goes to work for you, without you having to lift a finger. 

Our Interest + Checking account option is one of the many things we’re proud to offer at Bippus State Bank - and it’s a customer favorite!

But that’s not all! Here are 3 more reasons to love high interest yield checking accounts:


1. The Availability

It’s hard to find online savings accounts these days that will offer a better APY than high interest yield checking accounts. Opening an Interest + Checking account with Bippus will be easier and offer more in return than what you’d find through a savings account.


2. The Convenience

With this type of bank account, your money is liquid, meaning it can be withdrawn whenever you need it. This isn’t always the case with savings accounts or other investment methods. And you only need to complete 3 criteria each month to qualify for your Interest + Checking account:

  • Perform 15 debit card transactions per month 
  • Enroll in Online Banking & eStatements
  • Set up ONE direct deposit per month

If you qualify under these 3 simple criteria, you’ll start making your money work for you.


3. The Bonuses - ATM Fee Refunds and More

Having a high interest yield checking account comes with perks beyond its higher APY. One of the biggest ones? You’ll get ATM fee refunds nationwide. You’ll be eligible for that bonus with your Interest + Checking account with Bippus, plus you’ll also be able to perform unlimited transactions with no per check fee.

 

If you’re ready to get on the money-making bandwagon with smarter banking - The Bippus Interest + Checking account pays you extra interest for simply doing the things you already do. Bippus State Bank has you covered.

 

See Additional Checking Account Information

Open your Interest + Checking account today


*Must meet certain requirements to obtain maximum interest rate.  Other terms and conditions apply. For further information contact us at 1-877-653-8900.

Washington, D.C. (March 17, 2022) — 
The Independent Community Bankers of America® (ICBA) today announced that Adam Fusselman, SVP of Bippus State Bank, Huntington, IN was elected to serve on ICBA’s Housing Finance Subcommittee. ICBA is the nation’s voice for community banks and is committed to its 92-year mission of creating  an environment where community banks flourish.

“As a civic leader and advocate for my community, I’m excited to work with ICBA to bring awareness to the vital role community banks serve locally and in our nation’s economy,” Fusselman said. “Community banking endures because we continue to place value on the all-important relationship and work hard to earn the trust and respect of our customers. I’m proud to be a community banker and to do my part to ensure our industry’s vitality for future generations.” 
 
In addition to helping shape and advocate ICBA’s national policy positions and programs, Fusselman’s duties include engaging in grassroots activities in Indiana to promote pro-community bank policies and serving as a liaison between community banks and ICBA staff and leadership in Washington, D.C.

“Adam is an exceptional community bank leader who has dedicated time and resources to advance ICBA’s mission and help local communities thrive,” said ICBA Chairman Brad M. Bolton, president, CEO and senior lender at Community Spirit Bank in Red Bay, Ala. “We are honored that Adam has accepted this appointment to represent the industry  and thank him for volunteering to serve as we work to ensure a bright future for community banks and the customers they serve.” 
 
About ICBA
The Independent Community Bankers of America creates and promotes an environment where community banks flourish. ICBA is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education, and high-quality products and services.
With nearly 50,000 locations nationwide, community banks constitute 99 percent of all banks, employ more than 700,000 Americans and are the only physical banking presence in one in three U.S. counties. Holding more than $5 trillion in assets, over $4.4 trillion in deposits, and more than $3.4 trillion in loans to consumers, small businesses and the agricultural community, community banks channel local deposits into the Main Streets and neighborhoods they serve, spurring job creation, fostering innovation and fueling their customers’ dreams in communities throughout America. For more information, visit ICBA’s website at www.icba.org.

Huntington, Indiana (February 23, 2022) – Bippus State Corporation (the “Company”), the holding company for The Bippus State Bank (the “Bank”), today announced the completion of its private placement of $5 million of its 3.75% Fixed-to-Floating Rate Subordinated Notes due 2032 (the “Subordinated Notes due 2032”) and $5 million of its 4.25% Fixed-to-Floating Rate Subordinated Notes due 2037 (the “Subordinated Notes due 2037”, and together with the Subordinated Notes due 2032, the “Notes”) to certain qualified institutional buyers and accredited investors.

“We are pleased to announce the completion of a $10.0 million subordinated debt offering, the proceeds of which will be used for general corporate purposes, including to support our continued growth and regulatory capital ratios of the Bank and repurchasing shares of common stock of the Company,” said Eric D. Fawcett, President and Chief Executive Officer of the Company and the Bank. The Subordinated Notes due 2032 will initially bear interest at a fixed annual rate of 3.75% for the first five years and will reset quarterly thereafter to what is expected to be the then current three-month SOFR rate plus 211 basis points. The Subordinated Notes due 2037 will initially bear interest at a fixed annual rate of 4.25% for the first ten years and will reset quarterly thereafter to what is expected to be the then current three-month SOFR rate plus 250 basis points. The Notes are intended to qualify as Tier 2 capital for regulatory capital purposes for the Company.

Performance Trust Capital Partners, LLC served as the sole placement agent. Krieg DeVault LLP served as legal counsel to the Company and Smith Amundsen, LLC served as legal counsel to the placement agent.

This press release is for informational purposes only and shall not constitute an offer to sell, or the solicitation of an offer to buy, any security, nor shall there by any sale in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The Notes have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. The indebtedness evidenced by the Notes is not a deposit and is not insured by the Federal Deposit Insurance Corporation or any other government agency or fund.

Cautionary Statement Regarding Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the federal securities laws. Statements in this release that are not strictly historical are forward-looking and are based upon current expectations that may differ materially from actual results. These forward-looking statements, identified by words such as “will,” “expected,” “believe,” and “prospects,” involve risks and uncertainties that could cause actual results to differ materially from those anticipated by the statements made herein. These risks and uncertainties involve general economic trends and changes in interest rates, increased competition, changes in consumer demand for financial services, the possibility of unforeseen events affecting the industry generally, the uncertainties associated with newly developed or acquired operations, market disruptions and the potential effects of the COVID-19 pandemic on the local and national economic environment, on our customers and on our operations as well as any changes to federal, state and local government laws, regulations and orders in connection with the pandemic. The Company undertakes no obligation to release revisions to these forward-looking statements publicly to reflect events or circumstances after the date hereof or to reflect the occurrence of unforeseen events, except as required to be reported by applicable law.

Contact:

Eric D. Fawcett
President and Chief Executive Officer
(260) 356-8900