POB Announces New Hires

Burks

 

Adkins

PriorityOne Bank is pleased to announce new hires; Raland Burks and Eric Adkins.

Raland Burks has joined the POB team as Vice President, Commercial Lender for the Hattiesburg area. Raland was employed with the Mississippi Department of Banking for 11 years and is a graduate of USM and the LSU School of Banking

  Eric Adkins has joined our team as Vice President, Human Resources. Eric has 17 years of experience in the field of Human Resources and is a graduate of Mississippi College. 

LOCAL PHISHING ALERT

PriorityOne Bank has recently been made aware of some fraudulent activity, often referred to as phishing, targeting customers and non-customers of several local financial institutions. These messages have been sent by way of cell phone calls, text messages, and email. The automated phone calls typically ask the recipient to provide their debit card number and PIN for identification. Some victims are asked to “text” their bank account number to a phone number, or email it to any number of email addresses. The messages generally mention that the card number for the recipient has been deactivated. This is an effort to have the recipient contact a phone number or web site to provide card information this is information that could allow scammers to empty the victim’s bank account or open new credit cards in the victim’s name.  These calls are not legitimate. Please be aware that PriorityOne Bank will never ask for personal or account information by e-mail or solicit account information by phone. Should an account holder receive a suspicious phone call or e-mail, do NOT give out any personal or account information. We believe these phishing attempts are done at random and are not targeted towards any specific financial institution. If you believe you have been a victim of a phishing attempt, please contact your financial services institution immediately; or report it to the US Attorney’s office at 662-238-7677. If you would like more information on phishing, how to avoid it and what to do if it happens to you, go to http://onguardonline.gov/phishing .

Taking Advantage of Low Interest Rates

Advice for customers on how to take advantage of low-interest-rate environment

           

With interest rates at record lows, consumers face a number of choices for managing their money.  Whether they want to save, spend or invest, consumers are encouraged to consider their options and choose the strategies that best suit their particular financial circumstances.

PriorityOne Bank offers the following tips for low-interest-rate periods:

1.  Consolidate debt.  With interest rates at historic lows, it makes sense to consolidate debt into one low-interest loan. For example, if you have outstanding balances on several credit cards, consider transferring those balances to one credit card with the lowest interest rate.  If you qualify, it may be a good time to apply for a home equity line of credit to consolidate debt or make a home improvement. Most banks have been easing lending standards, so it may be easier to qualify today than it was a couple years ago.
 
2.   Shop around for credit cards with the best interest rates.  You may be able to get one with better terms than the one you are currently using.  Or, ask your credit card issuer to lower your interest rate to make it more competitive.
 
3.      Make large purchases now.  If you’ve been thinking of making a major purchase like a house or a car, today’s low interest rates make it a good time to finance big-ticket items. However, make sure you have a good credit record and can pay off the loan before applying. 
 
4.      Know your credit score.  Before you apply for any loan or credit card, check your credit report and learn your credit score.  Make sure your score is higher than about 680 to qualify for the very best rates.  If your score is lower than that, pay down your balances, remove errors from your credit report, and pay bills on time to raise your score.
 
5.      Keep saving.  Just because standard savings accounts aren’t paying a lot of interest now doesn’t mean you should stop saving for your future.  Your savings will still accrue, you’ll be less likely to spend it, and you know it will be safe.  If you can afford to lock up your money for a while, longer-term Certificates of Deposit (CDs) pay the highest interest rates.

  

 “Low-interest-rate periods offer a variety of opportunities and challenges for customers deciding how to manage their money,” said Robert Barnes, CEO of PriorityOne Bank. “Customers should never take on more debt than they can afford to repay, but this could be a good time to consolidate debt to make payments easier, or make a home improvement you’ve been thinking about for a long time,” he added.

             

Customers who are unsure of how to take advantage of the current low-interest-rate environment are encouraged to speak with their local bank representative.