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New Changes with US Savings Bonds! U.S. Savings Bonds are going paperless! No more paper savings bonds through financial institutions or mail-in orders after DECEMBER 31, 2011. 1. What changes are happening to the way U.S. Savings Bonds are sold? Paper Series EE and I Savings Bonds will no longer be sold through financial institutions or mail-in orders after December 31, 2011. Savings bonds aren't going away, though. You can purchase electronic savings bonds online through TreasuryDirect at www.treasurydirect.gov. 2. Why is the U.S. Department of the Treasury ending sales of paper savings bonds? Ending sales of paper savings bonds will save taxpayers an estimated $70 million over the next five years. In addition, unlike paper savings bonds, electronic savings bonds aren't easily lost or misplaced. And with TreasuryDirect, you can manage your savings securely online, anytime. 3. What will happen to the savings bonds you already have? Existing paper savings bonds are valid issues of the Treasury Department and will earn interest for 30 years from the issue date or until redeemed. You can redeem paper bonds at most local financial institutions. You also can convert your paper savings bonds to electronic savings bonds in TreasuryDirect using a program called SmartExchange. There's no charge to convert paper bonds. No earned interest will be lost, and the bonds will keep their original issue dates and current interest rate terms. 4. What is TreasuryDirect? TreasuryDirect is a secure web-based system through which you can establish accounts to purchase, hold, and manage Treasury securities online, anytime. In TreasuryDirect, you can purchase Series EE and I Savings Bonds, Treasury bills, notes, bonds and TIPS (Treasury Inflation-Protected Securities). 5.) How can I learn more about electronic savings bonds, Treasury securities, or TreasuryDirect? Visit www.treasurydirect.gov for more information. td_logo1.gif Banking just became even more convenient at EDSB! For your added convenience, we've improved our online systems to give you better 24/7 access to your checking and savings accounts through your debit card & online banking. Now deposits and transfers made to your account through payroll deposit, in-office transactions, and even through Internet Banking are available to you right away for Debit card purchases or even ATM cash withdrawal. No more waiting. What's this mean to you? Here's a couple examples; a.) You need to do some last minute evening shopping with your debit card, but you didn't transfer money from your savings to checking account before the bank closed. * No worries! Transfer the money using internet banking and the funds are accessible via your Mastercard debit card, IMMEDIATELY. b.) At 7:00 at night, a family member (son or daughter, spouse) who is out of town calls and needs cash right away. * Simple Fix! Go to internet banking, transfer money to their account, and they can withdraw from their local ATM! EDSB values your time and our ongoing relationship. Now you can experience the convenience of our personal touch even after traditional banking hours. If you aren't a regular user of internet banking or other online services, contact a personal banker and ask how internet banking, e-alerts, online bill pay, and e-Statements can save you time and money. (You can earn $5 cash just by signing up for eStatements!) For further questions, please feel free to contact EDSB's friendly and knowledgeable Personal Bankers at (563) 587-2424 or at personalbankers@edsb.com. Social Networking Safety Facebook, Twitter, Google+ and other social networking sites are powerful tools allowing you to meet and interact with people around the world. However these capabilities come with some considerable risks that effect not just you but your employer, family, and friends as well. We wanted to share with you some of the dangers and ways to protect yourself safely in the following ways: CAREER DAMAGE: Embarrassing information may harm your future. Many organizations search social networking sites as part of a new employee background check to see what has been posted about you. Any embarrassing or incriminating posts, no matter how old they are, may prevent you from getting that new job. In addition, many universities conduct similar checks for new student applications. ATTACKS AGAINST YOU: Cyber criminals can harvest your information and use it for attacks against you. For example, they can harvest your personal information to guess the answers to secret questions that websites use to reset your passwords or perhaps apply for a credit card using your personal information. ATTACKS AGAINST YOUR EMPLOYER: Criminals may gather information that you share on social networking sites when compiling competitive data or preparing for a cyber attack on your employer. Moreover, your actions online may inadvertently reflect badly on your employer. Be sure to consult your employer's social networking policy for guidelines on how you are expected to safeguard your organization's data and reputation. The most effective way to protect yourself against these dangers is to be cautious about what information you post about yourself. Consider whether the data you are sharing now could be used against you some time later. Also, tighten the privacy settings of your social networking profile to limit who can see the personal information you might share on the site. Keep in mind that your data may be inadvertently leaked by the website or your friends, so it is best to assume that any information you post will at some point become public knowledge. Also, be aware of what others post about you. If you have friends posting information, pictures, or other data you do not want made public, ask them to remove it. SECURITY - In addition to being the source of damaging information attacking your system or conducting scams. Here are some steps to protect yourself. LOGIN: Protect your social networking account with a strong password. Do not share this password with anyone or use it for other sites. In addition, some social networking sites, such as Facebook or Google+, support features for stronger authentication, such as using one-time passwords when logging in from public computers or using your phone as part of the login process. Enable these features where possible. ENCRYPTION: Many sites, such as Facebook, Google+, and Twitter, allow you to force all communications with the website to be encrypted (called HTTPS). Whenever possible, enable this option. E-MAIL: Be cautious when clicking on links in e-mail messages that claim to originate from a social networking site. Instead, access the site using a saved bookmark and check any messages or notifications using the website directly. LINKS: Be careful of clicking on links posted on people's walls or public pages. Viruses and worms spread easily on such sites. If a link seems odd, suspicious, or too good to be true, do not click on it even if the link is on your most trusted friend's page. Your friend's account may have been hijacked or infected and now be spreading malware. SCAMS: Criminals take advantage of the open nature of social networking sites to defraud individuals. Such scams sometimes use the pretext of an offer for a job or money that is too good to be true. Another common scam uses hijacked accounts to contact the victim's friends with requests for help, claiming that the person got robbed in a foreign country and needs money. Be cautious when approached by a friend or a stranger on a social networking site with a request for money or with an offer that's surprisingly good. APPS: Some social networking sites give you the ability to add or install third party applications, such as games. Keep in mind there is little or no quality control or review of these applications and they may have full access to your account and the data you share. Malicious apps can use this access to interact with your friends on your behalf and to steal and misuse personal data. Be careful, and only install apps that come from trusted, well-known sites. Once they are installed, make sure you keep them updated. If you are no longer using the app, then remove it. Social networking sites are a powerful and fun tool; they allow you to communicate with the world. If you follow the tips outlined here, you should be able to enjoy a much safer online experience. socialnetworking1.gif Fraudulent "ACH & Wire transfers" Emails The Federal Deposit Insurance Corporation (FDIC) has received numerous reports of fraudulent e-mails that appear to be from the FDIC and contain an infected attachment. The fraudulent e-mails have addresses such as "no.reply@fdic.gov" or "notify84zma@fdic.gov" on the "From" line. The message appears, with spelling and grammatical errors, as follows: Subject line: "FDIC notification" Message body: "Dear customer, Your account ACH and WIRE transaction have been temporarily suspended for security reasons due to the expiration of your security version. To download and install the newest installations read the document(pdf) attached below. As soon as it is setup, you transaction abilities will be fully restored. Best Regards, Online Security departament, Federal Deposit Insurance Corporation." The e-mails contain an attachment "FDIC_document.zip" that will likely release malicious software if opened. These e-mails and attachments are fraudulent and were not sent by the FDIC. Recipients should consider these e-mails an attempt to collect personal or confidential information, or to load malicious software onto end users' computers. Recipients should NOT open the attachment. Financial institutions and consumers should be aware that these fraudulent e-mails may be modified over time with other subject lines, sender names, and narratives. The FDIC does not directly contact consumers, nor does the FDIC request bank customers to install software upgrades. Information about counterfeit items, cyber-fraud incidents, and other fraudulent activity may be forwarded to the FDIC's Cyber-Fraud and Financial Crimes Section, 3501 North Fairfax Drive, CH-11034, Arlington, Virginia 22226, or transmitted electronically to alert@fdic.gov. Questions related to federal deposit insurance or consumer issues should be submitted to the FDIC using an online form that can be accessed at http://www2.fdic.gov/starsmail/index.asp. For your reference, FDIC Special Alerts may be accessed from the FDIC's website at www.fdic.gov/news/news/SpecialAlert/2011/index.html. To learn how to automatically receive FDIC Special Alerts through e-mail, please visit www.fdic.gov/about/subscriptions/index.html. Sandra L. Thompson Director Division of Risk Management Supervision Below is a link to a PDF example of the fraudulent emails. FDIC_Fraud_Emails_09_20111.pdf IRS Increases Mileage Rate to 55.5 Cents per Mile IR-2011-69, June 23, 2011 WASHINGTON-The Internal Revenue Service today announced an increase in the optional standard mileage rates for the final six months of 2011. Taxpayers may use the optional standard rates to calculate the deductible costs of operating an automobile for business and other purposes. The rate will increase to 55.5 cents a mile for all business miles driven from July 1, 2011, through Dec. 31, 2011. This is an increase of 4.5 cents from the 51 cent rate in effect for the first six months of 2011, as set forth in Revenue Procedure 2010-51. In recognition of recent gasoline price increases, the IRS made this special adjustment for the final months of 2011. The IRS normally updates the mileage rates once a year in the fall for the next calendar year. For more information please visit the following website: http://www.irs.gov/newsroom/article/0,,id=240903,00.html FDIC CONSUMER TIPS For consumer tips on organizing and simplifying finances we encourage you to visit the FDIC website www.fdic.gov/consumers/consumer/news/cnwin1011. You will find strategies for getting a small business loan, warnings about financial frauds on the internet, an explanation of unlimited FDIC insurance coverage for non-interest-bearing transaction accounts, options for boosting college savings, ideas for positioning personal finances for changing interest rates and much more. EZ Business Banking Services Businesses of all sizes and types can benefit from our new EZ Business Banking Services. On our menu bar to the left, click on EZ Business Banking and learn more about our convenient e-Business checking account, and the time-and-money saving family of products connected to that checking account. Have questions? Call our EZ Business expert, Kim Adams, at the Cedar Cross office (563-556-7700) with your questions. Refinance, Buy, Build Mortgages rates are at record lows and we can likely save you money on your house payment. Whether you're buying or just want to talk about refinancing, see the EDSB Mortgage experts.