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