Identity Theft: Things to do to protect yourself

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Identity theft affects millions of people every year, but there are several simple things you can do to help protect yourself.

  • Shred your bills, receipts, financial statements or any record with your name address or birthday with a crosscut shredder.
  • Review your bank statements, annual social security earnings statement and your annual credit report for abnormal activity or changes.
  • Your wallet and purse are a big target for thieves. Empty your wallet of all extra credit cards, social security cards, birth certificate, passport, identification cards you don’t need on a weekly basis, as well as receipts and credit card statements.
  • Be careful using an ATM’s or prepaid phone card. “Shoulder surfers” can get your “pin” and get access to your accounts.
  • Protect your mail. Identity thieves are always on the lookout for incoming mail just sitting in your mailbox. Have your checks delivered to the bank or pick your checks up at the bank. Do not put checks in the mail from your home mailbox. Drop them off at a U.S. Mailbox or the U.S. Post Office. Get your mail as soon as possible. If you are going away, arrange for a trusted friend to pick up your mail.
  • Always log out of websites you shop or bank on.
  • Erase financial programs and stored information from your computer’s hard drive and your old cell phone before you dispose of them.
  • Create strong passwords that use a combination of letters, numbers and symbols, and avoid using the same password and username for multiple accounts.
  • Cancel all credit cards that you do not use or have not used in 6 months. Thieves use these very easily—open credit is a prime target.
  • Do not put your telephone numbers on your checks.
  • In conjunction with a credit card sale, do not put your address, telephone number, or driver’s license number on the statement.
  • Make a list of all your credit card account numbers and bank account numbers with customer service phone numbers and keep it a safe place. (Do not keep it on the hard drive of your computer if you are connected to the Internet.)

While Identity theft is a growing and serious problem, you will never completely eliminate the risk. These are a few suggestions that will help you significantly reduce your exposure and risk to Identity theft.

Advantages of E-Statements

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Why should I sign up for e-statements?

Reasons are:

  • There is no charge for e-statement service.
  • Review your statements and canceled checks online anywhere and anytime.
  • E-statements can be accessed days before a paper statement would arrive in the mail.
  • E-statements contain the same information as the traditional paper statement.
  • You reduce the risk of statements being lost or stolen in the mail.
  • Your e-statement is protected by the latest security measures.
  • Environmentally Friendly. Make a positive impact on the environment by eliminating the need for paper statements and reduce clutter in your home or office.

To enroll for e-statements, visit our website at www.lafayettecommunitybank.com or contact one of our convenient branches for assistance.

Alphabet Soup of Banking

sc-alphabet-soup-updateOur lives are loaded with quick 140 character snippets of communications. We “lol,” we acknowledge our peeps, and we are preaching TGIF. It seems as if we are always shortening the words in our English language using acronyms, initialism, or truncation. I suggest that the world of banking may be the biggest pot of alphabet soup around. We may discuss a customer’s DDA, SAV, HELOC or CD activity, their FICO, the DTI and the LTV on a loan, and the need for MIP on an FHA loan or PMI on a conventional loan.

So here is our short guide to a few banking abbreviations:

  • DDA – Demand Deposit Account; your checking account.
  • SAV – Savings Account
  • HELOC – Home Equity Line of Credit
  • FICO – Fair Isaac Corporation credit score
  • DTI – Debt to Income; your monthly debt as a percentage of your monthly income
  • LTV – Loan to Value; your loan amount as a percentage of the value of your property
  • MIP – Mortgage Insurance Premium
  • FHA – Federal Housing Administration; or a type of loan that typically has a lower down payment
  • PMI – Private Mortgage Insurance
  • PITI – Principal + Interest + Taxes + Insurance; your monthly mortgage payment
  • FDIC – Federal Deposit Insurance Corporation

Here at Lafayette Community Bank (LCB), we communicate with our customers in a clear and concise manner.   Please call LCB at 765 429-7200 today to discuss all your banking needs.

Welcome!

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Welcome to the first blog post by Lafayette Community Bank. A lot of changes are coming to our community when it comes to your banking options. We invite you to read our monthly blog posts, most of which reflect questions we get from our customers, business partners and neighbors just like you.

We believe this is what separates us from other banks in town. It’s our 5 C’s approach.

Consultative

Character

Committed

Customers

Community

Read more here.

We welcome you to join in the conversation, share this information with your friends, and even send us your questions! For more information about Lafayette Community Bank and what we have to offer, visit our website at www.lafayettecommunitybank.com