In The Know
Did you book that night at the hotel’s site?
July 14, 2015
by Amy Hebert
Consumer Education Specialist, FTC
Whether you travel a lot or just a little, you’ve probably gone online to book a hotel stay. Sometimes you might find a travel comparison site gets you the best deal. Other times, you might book directly at a hotel’s website — maybe to earn points for the company’s reward program, or because you have some special requests for your stay.
For those times you’re looking to book directly with a hotel, make sure that’s what you’re doing. The FTC has heard from people who searched online and thought they were booking on a hotel website, only to find they’d unknowingly been doing business with someone else.
The confusion resulted in problems like:
- arriving and finding no reservation
- having trouble canceling or modifying a reservation, or disputing charges through the hotel
- finding reserved rooms didn’t reflect special requests like disability access
- being charged undisclosed fees
- paying a higher rate than what’s advertised by the hotel
- getting credit card charges from the third party, not the hotel
- not earning points with their hotel reward programYour best bet to avoid surprises — look closely at your search results. If you know you want to deal directly with a hotel, take the time to look for signs you might be on a third-party site, like another company’s logo. It’s also a good idea to find the hotel phone number yourself, rather than rely on what’s listed on the site.
- It can be hard to tell that you’re not on the hotel’s site. You might see a hotel’s name in the URL, or call the number shown next to the hotel’s address and not realize it’s the reservation company — not the hotel — you’re talking to.
The New EMV Chip
With all the security breaches being reported in the news these days, consumers and banks are wondering what they can do to protect themselves from fraud. There is an answer to problems with debit and credit card fraud coming soon. Many industrialized countries use a technology called EMV or chip technology that protects against mass breach fraud. EMV is named after the companies that invented the technology: Europay, MasterCard, and VISA (EMV). The technology places a chip in debit and credit cards and does away with the magnetic stripes we currently use in the United States. Magnetic stripe cards are easily copied (skimmed) with a card reader. Chip technology cards are much harder to duplicate because they create a one time unique transaction code. United States merchants and card issuers have already started to switch to this technology and full conversion in the United States is expected by year-end 2017. One reason the United States is slow to make the switch is because of the cost to change. The cost of this transition is estimated between 5 billion and 13 billion dollars. The reason the switch is so costly is because new cards will need to be issued, banks will need new ATM machines, and merchants will need new card readers, not to mention the cost of education. Even though this technology is very costly, it comes with many benefits. The most important benefit is the increased security for card users. Some of the other benefits include mobile payments and one card could have multiple accounts linked to it. Once the switch has been made, merchants who do not have the new chip technology card readers may be held liable for card fraud that could have been prevented with EMV technology. This may result in some merchants not accepting cards at all but rather going back to cash only transactions. You will hear more about this in the news as the United States catches up with the rest of the world.
If you get a consumer complaint notification from the FTC. It’s a scam.
The email tells you there’s a complaint against your business, and wants you to click on a link. Here’s what one of the scammy emails said:
“This notification has been automatically sent to you because we have received a consumer complaint, claiming that your company is violating the CCPA (Consumer Credit Protection Act).
According to our policy, we have initiated a formal investigation before taking legal action. You can download the document containing the complaint and the plaintiff contact information, from…” followed by a link.
At first glance, it might look legitimate. It has the FTC seal, the email appears to come from an FTC email address, and the web address looks like it goes to an FTC site. But if you hover over the web address, you’ll see the link actually sends you somewhere else.
If you get an email like this, don’t open it. And most important: don’t click on the links. Don’t open any attachments, either. If you do, you could install malware on your computer, causing your device to crash, or allowing a scammer to monitor and control your online activity, steal your personal information, send spam, and commit fraud. You can forward the phony email to the IT department to check it out — but then delete it.
Government imposters aren’t just impersonating the FTC. If you get an unexpected email that says it’s from the government and asks you to click on links, open attachments, or share personal information, don’t do it. Even if you think it’s legitimate, it’s best to look up the number and contact the agency directly to check it out.
Footsteps to Financing Your Dream Home
- Call Libertyville Savings Bank to schedule a meeting with a Licensed Mortgage Loan Originator (MLO) or go on-line to www.libertyvillesavingsbank.com and select the Mortgage Center to apply for pre-approval.
- Work with MLO to determine what is affordable.
- Work with MLO to determine down payment and closing cost requirements.
- Provide necessary requested information to MLO to obtain a pre-qualification Letter.
- Notify MLO when you locate your desired home.
- Meet with MLO to sign preliminary loan documents.
- MLO reviews your income and asset verifications.
- MLO orders your appraisal and legal work.
- Final Loan Approval is granted.
- Loan Closing is scheduled.
Home, sweet home!
Gas Pump skimming epidemic. Please read.
LSB is dedicated to providing our customers with the most current and up-to-date fraud information. There is currently an epidemic of “Gas Pump” skimming reported along Interstate 10 from Florida to California. We want to urge everyone to be cautious no matter where you use your debit or credit card.
Here are a few tips to prevent your card from being “skimmed”:
- Be aware of you surrounding. In the case of the gas station:
- Lighting conditions around the station
- Condition of the gas pumps themselves
- Any signs of tampering or something out of place
- Check to make sure the gas pump dispenser cabinet is closed and has not been tampered with. Many stations are now putting a piece of security tape over the cabinet to ensure it has not been opened by unauthorized individuals.
- Use a gas pump closer to the front of the store. Thieves often place skimmers at the gas pumps farther away from the store so they are not noticed as quickly.
- Monitor bank accounts regularly to spot any unauthorized charges.
To protect your LSB debit card, sign up for LSB Guardian to receive alerts when fraud is suspected. It’s fast and easy. Go to the link on our home page and sign up today!
New mobile app available!
We recently updated our Mobile Banking Applications for Android and iPhone, and added and application for the iPad. Check out our new app in the Google Play Store, click this link: https://play.google.com/store/search?q=libertyville%20savings%20bank . Check out our new app in the App Store, by searching for Libertyville Savings Bank on your Apple device. Please give us a call at 641-472-9839 if you have any questions!
Overview of a credit score.
- How do you get a good credit score?
- What can hurt your credit score.
- What the numbers mean, and more.
Click the link for additional information.
What is a credit score.
Seven things to know about getting more time to file your Tax Return
Can’t make the April 15, 2015 tax deadline and need more time to file your tax return? Here are some tips from the IRS to help you get an automatic six month extension of time to file:
File on time even if you can’t pay. If your return is completed but you are unable to pay the full amount of tax due, do not request an extension. File your return on time and pay as much as you can. The IRS will send you a bill or notice for the balance due. To apply online for a payment agreement, go to the IRS website at http://www.irs.gov and click “Apply for an Online Payment Agreement (OPA)” at the left side of the home page under Online Services. If you are unable to make payments, call the IRS at 800-829-1040 to discuss your options. 2. Extra time to file. An extension will give you extra time to get your paperwork to the IRS, but it does not extend the time you have to pay any tax due. You will owe interest on any amount not paid by the April 15 deadline, plus you may owe penalties. 3. Form to file. Request an extension to file by submitting Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return, to the IRS by April 15, 2015, or make an extension-related electronic credit card payment. For more information about extension-related credit card payments, see Form 4868. 4. E-file extension. You can e-file an extension request using tax preparation software with your own computer or by going to a tax preparer who has the software. The IRS will acknowledge receipt of the extension request if you file by computer. 5. Traditional Free File and Free File Fillable Forms. You can use both Free File options to file an extension. Access the Free File page at http://www.irs.gov. 6. Electronic funds withdrawal. If you ask for an extension via computer, you can also choose to pay any expected balance due by authorizing an electronic funds withdrawal from a checking or savings account. You will need the appropriate bank routing and account numbers. For information about these and other methods of payment, visit the IRS website at http://www.irs.gov or call 800-TAX-1040 (800-829-1040).
- How to get forms. Form 4868 is available for download from the IRS website or may be ordered by calling 800-TAX-FORM (800-829-3676).You can also obtain the form at your local IRS office. Telephone requests normally take 7 – 15 days to process and ship.
All information was provided from the website www.irs.gov
When it comes to banking, the Libertyville Savings Bank adopts the Unstoppable Model.
Banking isn’t what it used to be, and neither are modern day bankers. Jill D. Burnett, CEO and the Executive Team of the Libertyville Savings Bank, have made a commitment in 2015 to raise funds to build a school in Africa. This initiative is in addition to the Libertyville Savings Bank’s (LSB) continued support of numerous community, school, non-profit and local related activities in the five communities they serve. Burnett stated that “at LSB they believe every child deserves an education and a chance for a better life. We will raise these funds by donating $5.00 to the Unstoppable Foundation® when a new or existing customer signs up for any of our online products. Customers using these products save us money that in turn we will use to support this cause.”
“The Unstoppable Foundation® is a non-profit humanitarian organization bringing sustainable education to children and communities in developing countries, thereby creating a safer and more just world for everyone” states their website www.UnstoppableFoundation.org. Their mission is to ensure that every child has access to an education and a better life. The Unstoppable Foundation’s model not only builds schools, but provides the entire community with access to clean water and sanitation, food and nutrition, healthcare, and alternative income training for parents. “Statistics show that investing in education is the single most effective way to reduce poverty, save lives and transform entire communities. Just learning to read and write could lift 170 million people out of poverty” per their website. Everyone at the bank is committed to this project said Burnett. “In 2015 our goal is to be “Unstoppable” in everything we do, including raising money for the school”.
The Libertyville Savings Bank was founded in Libertyville Iowa in 1901. They currently have five offices in southeast Iowa. The home office is located in Fairfield and the other offices are in Libertyville, Eldon, Keosauqua and Keota. The bank was named in the Des Moines Register’s “Top 100 Places to Work” in 2014 and Jill Burnett is a past recipient of the Extraordinary Banker Award.
Be sure to check out our LSB Guardian!!
Sign up today to protect your debit card from fraudulent or unauthorized charges.
- How do I get started? Signing up is quick and easy. Follow the links on our home page. It’s FREE and extremely convenient!
- How does it work? You will receive a text message on your registered mobile phone for the following debit card charges: If your card is used out of state, if a single transaction is more than $500, or if your card is not present at the vendor (i.e. phone or online orders).
- Once I receive the text message what do I do? If the transaction is yours simply ignore the message and the charge will go through. However, if the charge is NOT yours, it will send you a code to reply with.
- What will happen if it isn’t my charge and I respond? Risk Management will block the card so that no further transactions can be done on your card. Then someone from the Risk Management team or from LSB will contact you to follow up on getting the charges disputed and getting a new card ordered and printed.
Still have questions? Feel free to call one of our 5 convenient locations for more information.
Bank to Bank transfers
We now have available to our internet banking customers, Bank to Bank transfers! The Bank to Bank transfers allows customers to perform inbound and outbound transfers using a drop-down menu within our internet banking service. They can select the accounts they want to transfer funds to or from, specify transfer dollar amounts, and choose frequency. Customers provide the bank names, routing numbers, and account numbers for the accounts they want to enroll in the service. That information is submitted to the host bank where the external accounts are automatically validated with small deposit amounts for customer verification. Please refer to the Bank to Bank Transfer Agreement available after you log in to internet banking for fees and restrictions.
One of the most important rules for staying safe online is to use a different password for every different website and service.
Trying to think of a different password for every application that you use is very difficult and trying to remember all of the passwords for all of the different applications is even harder.
Password manager programs were developed to assist you with this issue. Password managers hide your information behind a master password that only you know. Most password manager utilities will also generate strong random passwords for you. There are many password managers to choose from. A few of the most popular are 1Password, Dashlane, LastPass, PasswordBox, and KeyPass.
When dreaming up your passwords, you will also want to use a combination of upper case and lower case letters, numbers, and symbols. Do not use dictionary words. Change your passwords every 3 months and utilize two-factor authentications when they are available.
You should also turn on your phone’s screen-lock setting to prevent others who may pick up your phone from getting into all of your information. Make sure your operating system and your applications are kept up-to-date with security patches and keep your anti-virus program updated as well. Go safe!
Staples Fraud Update
In October of 2014 reports of an investigation into a potential data compromise at Staples, the office supply chain, was announced.
Staples have now confirmed that a malware intrusion this year at some of its stores resulted in a credit card breach. The security experts detected that the criminals deployed malware to some of the stores point-of-sale systems. Approximately 115 of its more than 1,400 U.S. retail stores have been compromised. Information Staples believes that may have been accessed is: cardholder names, payment card numbers, expiration dates, and card verification codes. The timeframe that they are looking at is for at 113 stores is purchases made between August 10, 2014 through September 16, 2014. At the remaining two stores the malware may have allowed access to data from purchases made from July 20, 2014 through September 16, 2014. The company believes that approximately 1.16 million payment cards may have been affected.
Shopping Online by OnGuardOnline.gov
Know who you’re dealing with.
Anyone can set up shop online under almost any name. Confirm the online seller’s physical address and phone number in case you have questions or problems. And if you get an email or pop-up message that asks for your financial information while you’re browsing, don’t reply or follow the link. Legitimate companies don’t ask for information that way.
Know what you’re buying.
Read the seller’s description of the product closely, especially the fine print. Words like “refurbished,” “vintage,” or “close-out” may indicate that the product is in less-than-mint condition, while name-brand items with bargain basement prices could be counterfeits.
Know what it will cost.
Check out websites that offer price comparisons and then compare “apples to apples.” Factor shipping and handling into the total cost of your purchase. Do not send cash or money transfers under any circumstances.
Check out the terms of the deal, like refund policies and delivery dates.
Can you return the item for a full refund if you’re not satisfied? If you return it, who pays the shipping costs or restocking fees, and when you will get your order? A Federal Trade Commission (FTC) rule requires sellers to ship items as promised or within 30 days after the order date if no specific date is promised. Many sites offer tracking options, so you can see exactly where your purchase is and estimate when you’ll get it.
Pay by credit card.
If you pay by credit or charge card online, your transaction will be protected by the Fair Credit Billing Act. Under this law, you can dispute charges under certain circumstances and temporarily withhold payment while the creditor investigates them. In the event that someone uses your credit card without your permission, your liability generally is limited to the first $50 in charges. Some companies guarantee that you won’t be held responsible for any unauthorized charges made to your card online; some cards provide additional warranty, return, and purchase protection benefits.
Print or save records of your online transactions, including the product description and price, the online receipt, and the emails you send and receive from the seller. Read your credit card statements as you receive them; be on the lookout for charges that you don’t recognize.
Protect Your Information
Don’t email any financial information.
Email is not a secure method of transmitting financial information like your credit card, checking account, or Social Security number. If you begin a transaction and need to give your financial information through an organization’s website, look for indicators that the site is secure, like a URL that begins https (the “s” stands for secure). Unfortunately, no indicator is foolproof; some fraudulent sites have forged security icons.
FREE IS NOT ALWAYS FREE
Who doesn’t want to take advantage of a “Free Trial” or “Special Promotion”? They often sound too good to be true and many times they are just that. The fine print will sometimes explain that if you do not cancel the transaction within so many days, they will send you the product monthly at an inflated price. And, once you have received the product and your checking account has been charged, it can be difficult to get it cancelled or reversed.
We here at Libertyville Savings Bank just want to remind everyone to please be sure to read the fine print or ask the right questions so that you aren’t paying for more than you bargained for. We have listed a few example questions below but you may have additional questions of your own.
- How much will this cost me today?
- Am I signing up for more than just the initial product?
- Will I need to cancel this within a certain time frame in order to avoid additional charges?
- Will you be sharing my information with others that will try to solicit me later?
- If I do decide that I want to order more of the product later how much will the product cost me?
- Will you send the product to me automatically or will I be able to order it as I need it?
Examples of some of the products/sites to beware of:
- Dating Sites
- Weight Loss Products
- Muscle Building Products
- Credit Score Websites
- Shoe Clubs
- Book Clubs
Are you ready for holiday shopping?
For your protection, your Libertyville Savings Bank debit card has a daily limit. Also, if you plan to make purchases on line internationally, you need to contact the bank prior to purchase. If you experience any other issues or have other questions or concerns, please call the bank at 641-472-9839 or email us at firstname.lastname@example.org.
Thank you and happy shopping!
How to Remove Personal Information
Your mobile device probably holds sensitive information like addresses and phone numbers, passwords, account numbers, email, voicemail, and text message logs. When getting rid of your old device, it’s important to take steps to help ensure this information doesn’t fall into the wrong hands.
First, try to use the factory reset. Many devices allow you to “wipe” your device and clear nearly all the information in its memory. Sometimes, this is called a “hard reset,” or “factory reset.” You may be able to save or transfer the information to your new device before you delete it from your old one. For detailed instructions on how to “wipe” your device, read your owner’s manual or check the website of your mobile provider or the device manufacturer.
Second, remove or erase SIM and SD cards. Many mobile devices store information on a SIM card or an external SD card as well as in the device’s internal memory. If you’re keeping your phone number, ask your mobile provider about transferring your SIM card to your new device. SD cards often contain photos and other sensitive information. Even when you “wipe” your device, your SIM card or SD cards may retain information about you. Remove them from your device or delete the data that’s stored on them.
After you’ve deleted your personal information, it’s good to double-check to make sure it’s gone. Check your:
- phone book
- logs for both dialed and received calls
- sent and received emails and text messages
- downloads and other folders
- search histories
- personal photos
If you stored apps on your device, remove them and the data associated with them.
Discarding with Care
Once you have a “clean” phone, it up to you to decide what to do next. Recycling it is one option. Many mobile device manufacturers, wireless service providers, and other groups have programs to refurbish mobile devices or recycle their components, including accessories like chargers.
For more information, check the websites of:
- The Environmental Protection Agency (EPA)
- CTIA – The Wireless Association
- Your wireless phone carrier
Another option is to donate your device. Many organizations collect used mobile devices for charitable purposes. You also might decide to trade in your device for a credit toward a new one; resell it to a person or an organization; or just dispose of it altogether. If that’s your choice, keep the environment in mind. The EPA recommends that you check with your local health and sanitation agencies for their preferred way to dispose of electronics.
Be smart about your phone
You just bought the latest smartphone. You loaded all your favorite apps — online banking, GPS, even an app to track your health.
But now your phone is full of information about you — how much money you have, where you are and whether you’ve gained a little weight. Your information can cause problems if it’s in the wrong hands. Want to protect it? These tips are for you:
- Set your phone to lock automatically. When you don’t use your phone for a few minutes, the phone should automatically lock itself and require a password to reopen.
- Use passwords for your phone. In addition to a password to unlock your phone, use different passwords for each shopping or financial app. Don’t share your passwords with anyone.
- Be wise about Wi-Fi. Don’t send personal information on a public wireless network in a coffee shop, library or hotel. Wait until you can use an encrypted Wi-Fi network that requires a password.
- Foil phishing attempts. Don’t text or email personal information, and delete any texts or email messages that ask for it. If you must give out personal information, do it only if you type in the organization’s web address yourself and you see signs that the site is secure — either “https” (the “s” stands for secure) or a lock icon.
- Connect to Bluetooth carefully. Bluetooth makes it easier for you to connect your phone with other devices. But, like other wireless connections, Bluetooth also can make it easier for thieves to steal your personal information. So, connect to Bluetooth in private, uncrowded areas only. Don’t forget to turn off Bluetooth when you aren’t using it.
- Now you’re ready to start using your new phone, right?
- Before you toss your old smartphone, remove all your personal information. It’s important to protect your personal information from the moment you start using your phone until you get rid of it.
Scheduled Maintenance for Bill Pay
Due to scheduled maintenance, Bill Pay will be unavailable the weekend of October 4. All other features of OnLine Teller will be available. The scheduled downtime for Bill Pay will occur throughout the weekend beginning 8:00 A.M. CT on Saturday, October 4 and will conclude by 5:00 A.M. CT on Monday, October 6. Thank you for banking with us!
July 16, 2014
Extremely Important – Please read!
RE: Keota Internet Banking and Bill Pay Customers
Dear Valued LSB Customer,
During the weekend of August 8, 2014, we will be undergoing a complete and comprehensive upgrade of our Keota location’s computer system. Internet Banking and Bill Pay products will not be converting. Therefore, in order to retain your transaction history, you will need to download/export your history prior to August 8, 2014.
Following the weekend of August 8, 2014, you will need to sign up for your new Internet Banking/Bill Pay service by going to www.libertyvillesavingsbank.com and clicking on “Enroll in OnLine Teller”.
If you have any questions, please call 641-636-2193.
We are looking forward to serving you! We appreciate your business. Thank you.
July 15, 2014
Extremely Important – Please read!
RE: LSB/Keota Debit Cards
Dear New LSB Customer,
During the second weekend in August, 2014, we will be undergoing a complete and comprehensive upgrade of Keota customer’s debit cards. This will result in many awesome benefits and improvements:
- real time data processing (your transactions will post to your account upon completion of the transaction at the teller line or on-line transactions)
- same day issuance of debit cards (lose your debit card and get a replacement card within hours, not days or weeks)
- set your own PIN at the bank ATM machine
In conjunction with this upgrade, we will be issuing brand new debit cards to all of our Keota debit card holders. At 2:00 a.m., Monday, August 11, 2014 your old debit cards will expire and your new card will be active. You will receive your new card in the mail mid-July. You will receive an assigned PIN soon after in a separate mailing. You will be able to change your assigned PIN to a PIN of your choice at the bank ATM machine or by stopping in the bank after August 11, 2014.
We are looking forward to being able to better serve you! Please expect more information to follow regarding how this upgrade may affect you. We appreciate your business. Thank you.
Come on in! The new customer entrance on the east side of our Fairfield office is now open. The west customer entrance will be closing in the next couple days as we begin construction of the building addition. Thanks for your patience over the past several weeks as we established the new drive-up and east entrances.
Watermark Images for Mobile and Internet Banking
Our internet banking provider is discontinuing the use of a watermark. It will be removed from our mobile banking product first and in the future the watermark will be removed from our online banking also. No actions need to be taken as result of this change. There are a few reasons for the change:
- Watermarks have become easy for hackers to work around.
- Most users do not pay attention to them.
- The security industry is moving away from using watermarks.
Our internet banking provider employs a multi-tiered approach to security and continues to enhance our security with the best practices available today. Thank you for banking with us!
As of March 15, 2014, when replacing or reissuing savings bonds, they will no longer be issued in paper form, but instead, will be issued as electronic bonds in Treasury Direct. To read more about replacing or reissuing savings bonds, please go to this website www.treasurydirect.gov or call toll free number 1-800-553-2663.
Heartbleed Security Risk
The Heartbleed Bug creates a vulnerability that may open the security of a system and can leave personal information open to a third party attack. To protect yourself, we suggest quickly changing passwords for the web sites you use. These should include email, social media, bank accounts, credit card online access and others.
Libertyville Savings Bank Customers
We have been working to assess and minimize any potential risk to our clients since we were made aware the Heartbleed OpenSSL issue. We have conducted a preliminary assessment of our primary software provider which supports your internet banking, bill pay, mobile banking, debit card and ATM service and have been assured that this software is not vulnerable to the Heartbleed Bug.
We will continue to monitor this situation. Thank you.
President Signs Farm Bill
On February 7, 2014 President Obama signed into law the Agricultural Act of 2014. Known as the Farm Bill, a more appropriate name for this legislation might be the Food Bill. Nearly 80% of the funds in this legislation are allocated to nutrition assistance programs. The bill will provide some long-term certainty to US farmers by outlining Ag policy for the next 5 years. This should be a welcome relief when compared to the last 18 months that saw the 2008 farm bill allowed to expire twice. Some highlights of the newest farm bill are:
- The 2014 farm bill eliminates direct subsidy payments. To replace direct payments, the new bill allocates more money for government subsidized crop insurance programs. The intent of this reform is to ensure that farmers have actual financial losses before they are eligible to receive federal payments.
- A provision in the bill removes subsidies for fuel pumps that blend higher levels of biofuels, like corn based ethanol. This is another recent setback for the ethanol industry. In November, the EPA proposed reducing the Renewable Fuel Standard (legislative requirement of renewable fuel blended into transportation fuel) by nearly 3 Billion gallons for 2014.
- Reforms dairy policy by eliminating old policies that included price support programs & Milk Income Loss Contract (MILC), and replaces them with a new Margin Protection Program.
- The Agricultural Act of 2014 makes the first reforms to food stamp programs since 1996 that are intended to reduce spending on the Supplemental Nutrition Assistance Program (SNAP) by $ 8 billion
- over the next 10 years. Most of the cuts come from closing loopholes within the food stamp program.
- The reforms include:
- Closing the “Heat & Eat” loophole that artificially inflates the benefit level of SNAP recipients.
- This reform will be responsible for much of the savings in the bill.
- Eliminates current abuses of the SNAP program i.e. (Lottery Winners, Traditional College Students, Illegal Immigrants, and Deceased) do not receive benefits.
- Prohibits the USDA from SNAP recruitment activities and promotion on TV, radio, and billboards.
- The 2014 bill modifies Country of Origin Labeling (COOL) that was initiated in the 2002 farm bill. The bill requires that meat sold in the US be labeled where it was born, raised, and processed. Canada and Mexico have threatened tariffs on US meats over this legislation.
Libertyville Savings Bank….purchasing Farmers Savings Bank, Keota, Iowa
The Libertyville Savings Bank (LSB) has submitted applications to the Iowa Division of Banking and to the FDIC for approval to purchase the Farmers Savings Bank (FSB) of Keota, Iowa. FSB was looking for a buyer and LSB was chosen over other potential buyers. FSB is primarily an agriculturally based bank with assets of approximately 100 million and operates one location in the town of Keota in Keokuk County, Iowa. LSB is also extremely
agriculturally focused with assets of approximately 200 million operating 4 locations in Libertyville, Fairfield, Eldon and Keosauqua, Iowa. As indicated, the transaction is contingent upon regulatory approval that could take up to 90 days. If approved, the merger should be complete this year and FSB will become a branch office location of the LSB. Existing LSB customers will see no changes to their level of quality customer care or bank personnel.
We feel it is a very good match that will diversify and strengthen our bank as a whole.
We appreciate your business very much and encourage you to contact us at the bank should you have any questions or concerns. Thank you!
Social Security Field Office Service Changes Coming Later This Year
To meet increasing service demands despite shrinking budgets, Social Security has invested in technological innovations offering more convenient, cost-effective and secure options for the public. Considering these factors, Social Security is making some service changes in our field offices across the country.
On August 1, 2014, Social Security will stop offering Social Security number printouts. Also, on October 1, 2014, our offices no longer will issue benefit verification letters. As a result of these changes, we ask agencies and organizations that routinely need access to these materials to use the data exchanges specifically developed for this purpose.
Social Security has collaborated with other federal, state and local agencies to build hundreds of robust data exchanges during the past few years. Today, Social Security provides more than 1.6 billion electronic verifications of Social Security numbers or benefit information to employers, state and local agencies, and other authorized third parties. Agencies and organizations should use available data exchanges to get the necessary verifications.
People needing proof of their Social Security or Supplemental Security Income benefits can get verification letters online instantly through a my Social Security account at www.socialsecurity.gov/myaccount. They also can get one mailed to them by calling our toll-free number, 1-800-772-1213 (TTY 1-800-325-0778).
Upcoming Scheduled Maintenance May Cause Service Interruption
Due to regularly scheduled maintenance, there may be sporadic availability of images on the OnLine Teller accounts over the weekend of February 22nd and 23rd.
More specifically, beginning Saturday, February 22 at 12:00 A.M. CDT through Monday, February 24th at 3:00 A.M. CDT, you may not have access to images on internet banking (OnLine Teller).
Upcoming Scheduled Maintenance May Cause Service Interruption
Due to regularly scheduled maintenance, there may be sporadic availability of images on the OnLine Teller accounts over the weekend of February 16th and 17th.
More specifically, beginning Saturday, February 16 at 12:00 A.M. CDT through Monday, February 18th at 3:00 A.M. CDT, you may not have access to images on internet banking (OnLine Teller).
E Statement Additional Recipients
The LSB internet banking (OnLine Teller) customer can select parties in addition to themselves to receive their E Statements, such as bookkeepers, accountants, spouses, etc.
To accomplish this, the LSB OnLine Teller customer needs to login to their OnLine Teller account, click on the E Statements tab, then click on the sub tab “Additional Recipients”. Create a user name, enter the recipient’s email address and an access PIN which will be the recipient’s password. Next, assign what documents you would like your new recipient to receive, then “save”. When the E Statement is ready, the new recipient will receive an email along with a PDF shell login to enter their user name and access PIN or password.
As debit and credit card fraud is becoming more prevalent, consumers and banks are wondering how they can prevent this type of fraud. There may be an answer to problems with debit and credit card fraud coming in the future. Many industrialized countries use a technology called EMV or chip technology. This technology could protect consumers from this type of fraud. EMV is named after the inventors of the technology Europay, MasterCard, and VISA. This technology would put a chip in debit and credit cards and do away with the magnetic strips we currently use in the United States. Magnetic strip cards are easily copied (skimmed) with a card reader. Chip technology cards are much harder to duplicate. The United States is one of the few industrialized countries that have not made the switch to EMV card technology. The goal is to make the switch by October of 2015. One reason the United States is slow to make the switch is because of the cost to change to EMV cards. The cost of this transition is estimated between 5 billion and 13 billion dollars. The reason the switch is so costly is because new cards will need to be issued, banks will need new ATM machines, and merchants will need new card readers, not to mention the cost of education. Even though this technology is very costly, it comes with many benefits. The most important benefit is the increased security for card users. Some of the other benefits include mobile payments and one card could have multiple accounts linked to it. Once the switch has been made, merchants who do not have the new chip technology card readers may be held liable for card fraud that could have been prevented with EMV technology.
OnLine Teller – coming soon, new password requirement!
Starting February 1, 2014 and moving forward, passwords for our OnLine Teller accounts will have the following new requirement:
- They must have 1 letter, 1 number and 1 special symbol
Existing conditions that will remain after February 1, 2014 are:
- They must be a minimum of 8 characters and a maximum of 25 characters
- They will not be case sensitive
- They cannot replicate your two previous passwords
The next time your password expires and you are prompted to create a new one; the above requirements will be explained and in effect.
This new requirement was recommended by our information technology auditors and we feel it is important to your security. Thank you for banking with us!
Updated Information Regarding the Target Breach
From Target directed to REDcard holders:
- You do not need to call Target unless you found charges on your account that you didn’t make.
- You will not be held liable for any fraudulent charges.
- We (Target) have made changes to our REDcard fraud detection and authorization procedures to further protect you.
- We (Target) are offering free credit monitoring for one year to every single person who was impacted by this crime. We will give you more information about that soon.
From Libertyville Savings Bank’s Software Provider directed to LSB as card issuer:
- Both networks (MasterCard and Visa) believe that the compromise dates are between 11/27 and 12/15.
- The information compromised was Card Number, Customer Name, Expiration Date and CVV (3 digit security code on the back of the card).
- Forensic research continues to ensure PIN data was not compromised and no reports of PIN fraud have been received.
- Approximately 41,000 point of sale terminals (retail checkout machines) were possibly affected.
- Only Target stores in the U.S. were involved in the compromise.
- 53% of the fraud that has attributed to this compromise had been card present transactions (not internet or phone transactions, the card had to be swiped through a machine).
- Alerts of affected cards have all been distributed by MasterCard and Visa.
- Both networks (MasterCard and Visa) require fraud reporting to be completed on all fraudulent transactions.
- It is too early in the compromise to discuss holding Target liable for Issuer losses.
Virtual Deposit Ticket
With our latest technology advancement at the teller line, if you make a deposit without providing a deposit ticket, your image for that deposit will be what we call a “Substitute Image or Virtual Document”. The deposit will credit your account just fine, but the virtual deposit ticket will not provide a listing of what items made up your deposit. So, if you need a record of the items that you are depositing, you should use a paper deposit ticket and list those items or keep record of them some other way(i.e. QuickBooks, Quicken, Excel Spreadsheet, Copies) prior to depositing. Thank you!
Change of Address Forms – Required!
To change your address with us, by law we must have a signed change of address form. Changing your address with the postal service or the address on your checks is not sufficient. Please let us know if your address will or has changed and we will help you with a change of address form. Thank you!
Kudos to the LSB Team on handling the Target store card compromise challenge! On Friday morning, December 20th, our team received a list of over 250 LSB customers that were affected by the breach. By 8:00 pm Friday night, all of our customers had been contacted. Their new debit cards were printed and ready for customer pick up Saturday morning. We know this could’ve been a serious inconvenience for our customers during this holiday time. Thanks to the ability of our new software, instant issue debit cards saved the day.
Jill Burnett – CEO LSB
Last Processing Day for LSB
Our last processing day for 2013 is Tuesday December 31, 2013. All bank transactions that you want included in 2013 business, need to be at any one of our locations by
12:00 pm on Tuesday, December 31, 2013. Any mail or night drop left after we close at noon will be processed on January 2, 2014.
All internet banking transactions will be accepted for 2013 business
until our normal cut off time of 4:00 pm.
Target Credit and Debit Card Breach
Yesterday morning Target announced that as many as 40 million customers who shopped at Target from November 27th through December 15th using credit and debit cards, the card information was compromised. Target said that customers who made purchases at its U.S. stores during that time frame should call them at 866-852-8680. On-line purchases have not been affected.
As soon as the bank receives the list of our customers who have been affected by this, we will contact each customer immediately, cancel your card and issue you a new one. If you do not hear from us, your card was not compromised.
Libertyville Savings Bank
With Christmas shopping going on now, I felt we should be reminded to keep our personal information safe. Identity theft has become a serious problem and if you become a victim it can turn your whole world upside down. The criminals are very ruthless and go to extremes to get your personal information.
Here are some ways to protect your personal information and identity:
- Read your credit reports. You have a right to a free credit report every 12 months from each of the three major credit reporting companies. To order go to annualcreditreport.com or call 1-877-322-8228.
- Shred all documents that show personal financial and medical information before you throw them away.
- Don’t respond to email, text and phone messages that ask for personal information.
- Read your bank, credit card, and account statements. If a statement has mistakes or doesn’t come on time, contact the business.
- Create passwords that mix letters, numbers, and special characters. Don’t use the same password for more than one account.
- If you shop or bank online, use websites that protect your financial information with encryption. An encrypted site has “https” at the beginning of the web address; “s” stands for “secure”.
- If you use a public wireless network, don’t send information to any website that isn’t fully encrypted.
- Use anti-virus and anti-spyware software, and a firewall on your computer.
- Set your computer’s operating system, web browser, and security system to update automatically.
These are some helpful hints to protect yourself. And, if you do find that someone has stolen your identity, please be sure to contact us at the bank. We have procedures in place to help people begin the process of notifying authorities and getting alerts put on your credit reports. We also have a credit monitoring product called Identity Theft Shield to protect you for a small monthly fee.
Merry Christmas and Happy New Year
Dena Clark, VP
How to save your E Statements to a flash or thumb drive:
Insert flash or thumb drive into the USB port of your computer. Make note of what drive letter your computer assigns it. Login to OnLine Teller. Click on the E Statements tab. This will list out all E Statements that are available to you. Choose the E Statement that you want to save and click on view. There will be a popup that displays at the bottom of your screen that says “open, save or cancel”. Click on the arrow to the right of the word save and choose “save as”. This will pop up another box, click on computer and choose the drive letter assigned to your flash or thumb drive, change the filename if you want, and click save. Continue this for any and all E statements you want to save on the flash or thumb drive. When you are finished logoff of OnLine Teller, then click on your start button, click on computer, and right click on the drive letter your flash or thumb drive was assigned and click eject. Now it is safe to unplug your flash or thumb drive.
(10/24) Police Chief Harvey Warns Citizens To Be Aware Of Scammers
The Fairfield Police Department has received several calls from citizens saying they received phone calls and the caller is requesting personal information such as social security numbers and bank account information. In one instance the caller was told the social security office needed to send the person a new social security card and needed the above mentioned information. In a second instance the called asked the person for personal information in order to set up a Paypal account for the local citizen.
Remember banks will never call a person and ask for bank account information or personal information. A bank will ask you to verify security information. If in doubt hang up and call your bank or go to the bank in person.
The social security office does not periodically send out new social security cards. The social security office only issues a new card if a request is made in person in the office with at least two forms of identification.
Additionally, Paypal accounts are done online and the company has never called people asking them if they want to sign up. The caller is trying to trick you info providing personal information.
The older scams include citizens receiving calls they have won a cash prize, inherited money from someone they don’t know, or have won the lottery. Again, the caller is trying to obtain personal information to defraud you. If it is too good to be true, it is probably a scam. Never give out any personal information over the phone.
Iphone App is now available for Mobile Banking
You can locate the Iphone app on your apple mobile device by searching under Iphone apps for Libertyville Savings Bank in the Itunes store. Our Android app is available by searching Libertyville Savings Bank in the Google Play store. As always you can still go to www.lsbmb.com on any mobile device to login without an app. Remember you use your existing user id and password you have for internet banking.
Libertyville Savings Bank receives 2013 Iowa Excellence Award
October 2nd 2013 – Libertyville Savings Bank has been selected for the 2013 Iowa Excellence Award amongst all its peers and competitors by the Small Business Institute for Excellence in Commerce (SBIEC).
Each year the SBIEC conducts business surveys and industry research to identify companies that have achieved demonstrable success in their local business environment and industry category. They are recognized as having enhanced the commitment and contribution of small businesses through service to their customers and community. Small businesses of this caliber enhance the consumer driven stature that Iowa is renowned for.
Libertyville Savings Bank has consistently demonstrated a high regard for upholding business ethics and company values. This recognition by SBIEC marks a significant achievement as an emerging leader within various competitors and is setting benchmarks that the industry should follow.
As part of the industry research and business surveys, various sources of information were gathered and analyzed to choose the selected companies in each category. This research is part of an exhaustive process that encapsulates a year long immersion in the business climate of Iowa.
The SBIEC is a leading authority on researching, evaluating and recognizing companies across a wide spectrum of industries that meet its stringent standards of excellence. It has spearheaded the idea of independent enterprise and entrepreneurial growth allowing businesses of all sizes to be recognized locally and encouraged globally.
Particular emphasis is given to meeting and exceeding industry benchmarks for customer service, product quality and ethical practices. Industry leading standards and practices have been developed and implementation of the same has been pioneered by the dedicated efforts of the business community and commerce leadership.
More information on SBIEC can be found at www.sbiec.org
How to tell if a bill is counterfeit?
1. Look for security features on the bill. Each of the following bills $5, $10, $20, $50 or $100 has a security strip running from top to bottom. The strip says USA and the denomination of the bill. These denominations of bills also have a watermark on them. Hold the bill up to the light and a watermark image of the person who is on the front of the bill should appear on the right side of the bill. The watermark can be seen from both sides of the bill.
2. Feel the texture of the bill. Counterfeit bills have a slick feel to them. Most counterfeit bills feel like wax paper.
3. Compare the bill with another bill of the same denomination and series. Counterfeit bills are usually a little smaller in size when comparing them to a regular bill.
4. Look for colored fibers in the paper. All U.S. bills have tiny red and blue fibers embedded in the paper.
5. Examine the serial numbers on the bill. Make sure the numbers on the bill match. Counterfeit bills have serial numbers that are not evenly spaced.
Syrian Electronic Army (SEA) Spear Phishing Activity Indicators
The FBI has released an alert containing detailed information on the malicious online activities of the Syrian Electronic Army (SEA). The following information can be shared with your supervised institutions.
The SEA is a pro-regime hacker group that has, in the past several months, successfully compromised multiple high-profile US media outlets and websites. Recent activity has been executed through successful spear phishing efforts. The FBI assesses the possibility of US military action in Syria may lead to further escalation of computer network operations by pro-regime or other aligned cyber actors.
Every organization is at risk of being the target of a spear phishing e-mail. Malicious actors craft e-mails that appear to be from a legitimate source to lure victims into providing login credentials. The e-mails contain a hyperlink that appears to be legitimate; however, the user is directed to a credential harvester that looks like a legitimate Outlook Web Access (OWA) or other login page.
The FBI has identified twenty phishing domains and IP addresses utilized by SEA actors, as well as four “watering hole” sites. The FBI is distributing this information to enable network defense activities and to reduce the risk of similar attacks in the future. The FBI recommends that your organization help victims identify and block these phishing domains. The FBI will continue to provide additional domains as they are identified. Below the spreadsheet contains attack indicators including phishing domains, IP addresses registrant information, web site domains etc.
||Hostinger International Ltd
||Hostinger International Ltd
||The Tannery (UK)
||Epic Notion (Ghana)
||Hostinger International Ltd
||Gulcan Hercicek (Turkey)
|Watering Hole Sites
|SEA Web site Domains
|SEA Web site Domain IPs
To set up Text Banking login to OnLine Teller click on the options tab then mobile settings, then text mobile settings.
Here are the commands for Text Banking:
Bal=All Acct Bal
Bal Acct Name=Single Acct Bal
Hist=All Accts Recent Activity
Hist Acct Name=Single Acct Activity
Password protecting your mobile devices and tablets:
Last week I attended a meeting put on by a law firm. One of the presentations was on mobile banking and the security relating to that. One recommendation was given multiple times…. password-protect your mobile phone and tablet. It is estimated that over 54% of users do not have their devices password-protected. Something as easy as that will go a long way in protecting your information in the chance you lose your device!
Beware: A scam is in operation where a caller says you have won a sweepstakes of a large amount of money. All you have to do is call a phone number and meet someone to get your “green card” after you pay them $400 in cash.
Bill Pay Maintenance
The bill pay website will be down for maintenance between 10:00PM CST on Friday, July 12th through 6:30AM CST on Monday, July 15th. If you still experience bill pay website issues after this timeframe, please call 866-215-3156 for bill pay related questions.
You have the option to change the lay out of your checking account statement. If you would prefer the following layout, please contact any of our offices to have the changed completed. Thanks for banking with Libertyville Savings Bank.
Installment Loan Payments:
If you have an installment loan payment at Libertyville Savings Bank, which means any loan that has scheduled payment either weekly, bi weekly, monthly, quarterly or annually, amounts that you pay above and beyond the regular required amount, will all be applied to principal. Also, please note, your next payment will be due at its regularly scheduled time.
Example: You have a car loan that calls for $100.00 monthly payments. Each month you pay $150.00 or $50.00 extra. The extra $50.00 that you pay will reduce the principal amount owed and payoff your loan faster, however you will still owe the next full payment the next month. The extra amount will not bump your payment date ahead and allow you to skip a payment.
If you want to pay ahead, you need to contact your loan officer.
Past E-Statements are now available on OnLine Teller!
Jack Henry has completed converting over our old E statements for customers to be able to access through the new interent banking site. They are now avaliable for our customers. Jack Henry converted over the last 3 statements in 2011, all of 2012 and year to date 2013.
Important – Please read!
** E Statement Customers **
This is your interim bank statement.
This time only – you will not receive it electronically.
Due to an upgrade to our banking software currently in progress, every LSB checking account holder is receiving a bank statement with transactions through May 17, 2013.
This paper statement is a one-time occurrence due to the software upgrade. You are still registered as an E Statement customer and moving forward, you will continue to receive your future statements electronically.
Year-to-date 2013 E Statements (including this interim statement) will be transferred to the new OnLine Teller internet banking service in the near future. You will receive an email when that information is accessible.
We apologize for any inconvenience this may cause and appreciate your patience during the upgrade. No service charges will be assessed on any statements during the month of May, 2013.
We appreciate your business. Thank you for banking with us!
Libertyville Savings Bank
Mobile Banking Users: Extremely Important! Please read.
Following the upgrade to our banking technology that will take place over the 3rd weekend in May, our mobile banking service will change. If you use an app, you will need to delete it and re-install. If you use an Android phone, please go to the Google Play Store to download the new app. For an IPhone go to App Store. Effective May 20th, you will need to re-enroll for our mobile banking service at www.lsbmb.com or through your newly installed Libertyville Savings Bank app.
Thank you so much for your patience and understanding during this upgrade! We appreciate your business.
Internet Banking Download Users: Extremely Important! Please read.
Attention internet banking customers. On May 20th, 60 days of viewable history will be transferred to our updated system. Starting May 20th going forward, our viewable history will be changing to 90 days. We recommend any customer downloading information from our site to have it completed prior to May 17th.
Thank you so much for your patience and understanding during this upgrade! We appreciate your business.
Bill Pay Customers: Extremely Important! Please read.
Due to the upgrade to our banking technology taking place over the 3rd weekend in May, our bill payment service will change.
Bill pay will be unavailable starting Friday afternoon, May 17th and can be accessed again Monday morning, May 20th after signing into the new internet banking service described in a previous email. All of your payees and automatic or recurring payments will carry over to the new system.
Bill payment customers will not be able to initiate payments between May 13th and May 20th. Payments initiated prior to May 13th and scheduled to be processed between May 13th and May 17th will occur successfully.
Thank you so much for your patience and understanding during this upgrade! In order for us to facilitate your questions or concerns in the most efficient manner, please direct them to email@example.com.
Internet Banking Customers: Extremely Important! Please read.
Due to the upgrade to our banking technology taking place over the 3rd weekend in May, our internet banking service will change.
Internet banking will be unavailable for most of Friday afternoon and evening on May 17th. During the rest of the weekend your existing user ID’s and passwords will still be effective, but the access will be restricted to view-only mode (you will not be able to transact business).
Starting Monday, May 20th, on our website, the new internet banking access link is called OnLine Teller. Existing internet banking customers will use the same ID as you have now, but your password will default to the last 4 digits of the primary account holder’s social security number. You will instantly be prompted to create a new password, you must agree to the terms and conditions, and you may be required to set up new security questions and answers. Your internet banking accounts and history will transfer over.
Thank you so much for your patience and understanding during this upgrade!
This is your new Debit/ATM card issued in conjunction with our banking technology upgrade.
The PIN for this card has been mailed to you in a separate mailing. Existing limits apply.
Your old card will expire at 2:00 a.m., Monday, May 20th and this new card will become effective 9:00 a.m., Monday, May 20th. You must use this card at an ATM machine the first time to activate.
If you have provided any payees or creditors your debit card information for payment, you will need to provide this new card number to those creditors/payees to be effective May 20th.
After June 1, 2013 you may choose your own PIN by using the option at any of our ATM’s and you may exchange this card for a photo debit card (we take your photo) or a personalized debit card (you provide the photo in jpeg form) by visiting any of our 4 locations.
Thank you for banking with Libertyville Savings Bank! We appreciate your business.
On the weekend of May 18th, LSB will be undergoing a comprehensive software upgrade. We’re very excited for the advanced technology this will provide for us to better serve our customers! A copy of the first informational letter is posted here.
Questions may be directed to any of us at LSB. Thank you!
April 15, 2013
Extremely Important – Please read!
RE: LSB Computer Software Upgrade
Dear Valued LSB Customer,
We are thrilled to announce an upcoming improvement to our banking technology! On the third weekend in May, 2013 we will be undergoing a complete and comprehensive upgrade of our banking system software. This will result in many awesome benefits and improvements for our customers including, but not limited to:
Ø real time data processing (your transactions will post to your account upon completion)
Ø real time debit card and ATM transactions (no wait for balancing to see updated transaction activity)
Ø same day, on the spot, issuance of debit cards
Ø deposits will be accepted and credited up until closing time (no more 2pm cut off time)
On Friday, May 17th, 2013 all checking accounts will have a statement processed including activity through May 17th. Depending on your regular checking account statement cycle, you may receive interim partial statements or multiple statements during the month of May. No service charges will be assessed on these statements or your first monthly statement following the software upgrade. To insure monthly checking account statements that cover calendar month dates, please sign up for our E Statements. They are extremely convenient and can be stored electronically for future research and/or reference.
In conjunction with this upgrade, we will be issuing brand new debit cards to all of our debit card holders. At 2:00 a.m., Monday, May 20th your old debit cards will expire and beginning at 9:00 a.m., Monday, May 20th your new cards will be operational. You will receive your new card in the mail mid-May. You will receive an assigned PIN soon after in a separate mailing. You will be able to change your assigned PIN to a PIN of your choice by contacting the bank after June 1st.
We are looking forward to being able to better serve you! Please expect more information to follow regarding how this upgrade may affect you. We appreciate your business. Thank you.