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‘Tis the Season: Start Saving for the Holidays in July

With the winter holidays seemingly far away, it's easy to overlook the importance of financial planning and saving for the upcoming festive season. However, by starting to save for the holidays in July, you can enjoy a stress-free and financially stable holiday season. Here are a few tips and strategies to help you save effectively ...

2023-07-12T08:31:23-05:00July 19th, 2023|Blog|

The Benefits of Homeownership: Building a Better Future

Homeownership is a dream for many individuals and families. It can represent financial stability and security. Owning a home can be a big step into a new chapter of your life and offers benefits and responsibilities. Here are a few of the advantages of homeownership and how it can contribute to building yourself a better ...

2024-01-02T16:11:55-05:00June 27th, 2023|Blog, Mortgage|

Protecting Seniors Against Fraud

Scammers target seniors more than any other group. Recently, there has been a rise in senior fraud, targeting vulnerable older adults who may be more trusting or unfamiliar with the latest scams. What is Senior Fraud? Senior fraud encompasses a range of deceptive activities designed to exploit older adults for financial gain. Perpetrators are constantly ...

2023-05-26T08:41:06-05:00June 14th, 2023|Blog, Security|

5 Ways to Teach Kids How to Save Money

Most adults understand the importance of financial education and teach financial responsibility. It is also important to kids about finances, savings, and being responsible. Here are five ways to teach kids about money and help them learn smart saving techniques early. 1. Wants and Needs Teaching kids the difference between ‘wants’ and ‘needs’ can help ...

2023-05-03T15:15:43-05:00May 3rd, 2023|Blog|

Minnesota Loan Guarantee Program

Drake Bank has been designated as an Approved Lender for the Minnesota Department of Employment and Economic Development’s (DEED) Minnesota Loan Guarantee Program (MNLGP). The MNLG program provides guarantees to enrolled lenders for up to 80% of the principal on loans to eligible businesses. It is part of the State Small Business Credit Initiative and ...

2023-03-07T16:22:04-05:00March 15th, 2023|Blog|

What to know about the FDIC and FDIC Insurance

What is the FDIC? The FDIC, or Federal Deposit Insurance Corporation, is an independent agency Congress created in 1933. The goal of the FDIC Is to maintain stability and public confidence in the nation’s financial system. The FDIC insures deposits; examines and supervises financial institutions for safety, soundness, and consumer protection; makes large and complex ...

2023-03-13T09:05:04-05:00March 13th, 2023|Blog|

Don’t Let Thanksgiving Dinner ‘Gobble Up’ Your Money

It’s the season of giving and being thankful. However, if you’ve ever hosted Thanksgiving dinner for friends and family, you know how the stress of coordinating people, cooking, and the grocery bill can add up. According to Statista, the average price for a complete ten-person Thanksgiving feast in the U.S. is $53.31. However, you’ve probably ...

2022-10-20T14:16:07-05:00November 8th, 2022|Blog|

Scams to Watch Out For

Scams and fraud are on the rise – especially ACH and wire fraud. Criminals and con artists use many tactics to target unsuspecting people who have access to money, and we want you to be aware of how to keep you and your business safe from scammers. Here are some of the latest scams to ...

2022-10-19T11:47:11-05:00October 19th, 2022|Blog, Security|

Joint Money Management

Couples agree that money is the primary source of conflict in most relationships. And it’s no wonder why. People hold different values around money depending on when and where they were raised, cultural norms, and more. For example, someone who shops at thrift stores might balk at their beau’s $100 clothing item. Individuals who value ...

2022-06-27T14:11:50-05:00July 18th, 2022|Blog, Community Banking|
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