Career Launchers

Your short term goals of less than five years might encompass a wedding, honeymoon, furniture or a new car. Medium term goals could include the purchase of a home and financing your future children’s college education, followed by long-term retirement goals. These goals will help you determine how to spend and save your money.

It may be wise to invest in CD’s or money market funds for your short term goals and the stock market for your longer term goals. Historically, the stock market has outperformed other types of investments over comparable time periods, but it’s not for the faint of heart. You may also want to join a 401K plan if available from your employer or open up an IRA account.

Peoples Bank & Trust can help compound your savings with an account that’s right for you:

• Easy Builder CD - This is the perfect certificate of deposit for someone getting started. You can open the account with as little as $100 and make additional deposits weekly, monthly or whenever you have extra cash.
• Easy Builder IRA -This IRA certificate is truly an “Easy Builder”. You can open the account with $100 and build for your future retirement at your own pace.
• Short/Long Term CD’s - Build wealth for YOUR future with an FDIC insured Certificate of Deposit (CD). If you are looking to invest or simply want to increase the value of your savings, consider investing in one of our CD deposits. As your CD matures, so does your future.

A good guide is to save three to six months’ worth of living expenses to cover rent or house payments, utilities, car payment, food, transportation and insurance into a separate bank account that could be easily accessed in the case of job loss or uncovered medical expenses. Don’t use the money for anything else.

Peoples Bank & Trust recommends the following account for the establishment of your emergency fund:

• Target Savings Account -This account is similar to the old Christmas Club only you get to choose the special event (like household emergency fund) that you are saving for and you choose when you withdraw the money.

You’ll reduce the time it takes to pay your bills and save on the expense of printed paper checks and postage while helping the environment as well.

• Peoples Value Checking - is the perfect solution for your “getting started” checking account. A minimum balance of $100 is required, an $0.24 charge per item over 100 per month, ATM/debit card, as well as online banking to help you keep your account records current.
• Peoples Club Account - Our Peoples Club account is our benefits plus checking. Perfect for just about everyone. This product has a low monthly service charge for which you will receive free club check orders, free money orders, discount on safe deposit box rental, $10,000.00 accidental death and dismemberment insurance policy, unlimited check writing and ATM withdrawals.

Avoid high-interest credit cards and pay off your credit card debit monthly. Work with your Consumer Banker for major lending needs including personal and vehicle loans, home mortgages and home equity lines of credit. Peoples Bank & Trust offers the following products and services to make this happen:

• Fixed Rate Secondary Market Residential Mortgages - whether you are purchasing a new home, remodeling your current one or just wanting to pay off debt, Peoples Bank & Trust can help. We have a variety of loan terms available-short to long term-you choose the option that works best for you. In addition, we have special programs for down payment assistance to those who qualify. Contact a Consumer Banker for more information.
• Consumer Loans - Whether it’s time for a new vehicle, new appliances or home improvements, we’ll make it easy. We offer assistance with our simple application process, competitive rates and charges and automatic checking/savings deductions. Contact a Consumer Banker for more information.

• Peoples Home Equity Line of Credit - Looking to utilize the equity in your home? Peoples Bank & Trust will provide you with a revolving line of credit to simplify your life.  The line is a reusable line of credit with easy access to funds. There are no closing costs involved to obtain this line of credit. Contact a Consumer Banker for more information.

• Peoples Cash line of Credit - Life is a highway. From time-to-time we get caught in the fast lane. Peoples Cash Line of Credit will keep you from running out of gas and staying ahead. Whether it’s a to-good-to-be-true vacation opportunity or a sale on that must-have household appliance, Peoples Bank & Trust will provide you with a revolving line of credit for life’s little extras. Contact a Consumer Banker for more information.

Your financial behavior over the past seven years, including how much credit you have, how long you've had it and whether you pay your bills on time is information included in your credit report. Three credit reporting agencies — Equifax, TransUnion and Experian — maintain these reports, and lenders buy them to help them decide whether to offer you a prequalification. Your credit report also carries your credit score ranked between 300 and 850 that many lenders use to decide whether you are creditworthy and will repay a loan. Your credit score can also influence the interest rate you pay. In many cases, the higher your score, the lower your interest rate. Your credit score is available from the three credit reporting agencies:

• Equifax
• TransUnion
• Experian