Education

Smishing = fraudulent text messages that try to trick people into clicking a fake link or sharing private info. Then, a phone call appears to be from the bank. 

• We will never ask for usernames, passwords, or PIN via text or over the phone.

• Do not click on suspicious links in messages, even if they look like they came from Heritage Bank.

• If you get a strange message or call from our number, hang up and report it to us immediately.

What is an Annual Percentage Rate (APR)?
For credit cards, APR is the interest rate. The APR is applied to your balance to calculate the interest you owe. The dollar amount of interest you owe is shown as a finance charge on your billing statement for any month you are charged interest.

What is the grace period on purchases?
Most credit cards allow you to avoid interest on purchases if you pay your credit card bill in full by the due date. This is called the grace period on purchases. The grace period is between the date of the purchase and the due date. To get it, you usually must pay your bill in full every month. When the grace period does not apply to purchases, you will pay interest on the purchases from the transaction date.

What if I only pay the minimum amount due?
You may end up paying a lot of interest. The amount of interest will depend on your APR and the amount of your balance. Pay as much as you can, as soon as you can, and always pay by the due date.

Shop around for the best card based on your needs.
You will find a range of interest rates, rewards programs, and terms.
The interest rate, penalty fees, annual fee, and grace period all factor in your total cost.

If you realize you have a credit problem, don’t panic, but do act quickly:
Make a budget and be realistic.
Let creditors know you want to pay. They may help arrange a new schedule.
Consumer Credit Counseling Services can help (800-388-2227).

Wants vs. Needs
Wanting something because it looks good is not the same as needing food to eat. Stress the importance of needs and remind kids that wants can wait. 

Money Isn't Free
Money is associated with work. However, that doesn't mean kids should always be rewarded with money. Set up age-appropriate chores for which they get paid or ensure they get an allowance after having a well-behaved week, which helps teach them the value of money.

Earn Before You Spend
Teaching kids they can purchase something and then earn money sets them up for a life of borrowing. Instead, make sure you teach them how to earn money before spending.

It's Ok To Make Mistakes
Everyone makes mistakes. Let them make mistakes and turn them into opportunities they can learn from.

Budget
Let kids be in charge of what they get with their money and where it is spent, which builds financial understanding.

Save First
You are less likely to save if you wait to see what income is left over after paying expenses. Determine in advance how much money you plan to deposit into your monthly savings.

Use Bank Tech
Set up automatic payroll deductions or transfers from checking to savings for a specific amount from every pay period.

Pay Bills On Time
Alleviate the hassle of late fees by scheduling time once a month to pay bills and put them in the mail with enough time to get to the creditor. Or better yet, set up automatic bill pay.

Needs vs. Wants
Do you need to eat out every day for lunch? Do you need that gourmet cup of coffee in the morning? You can save hundreds of dollars a year by bringing your lunch to work a couple of days a week.

Consider Investments
For long-term goals such as saving for a home or retirement, consider CDs, money market accounts, real estate, and stocks.