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Jan 05, 2024
Key Numbers for 2024
In order to ensure your financial plan meets your goals, it’s important to keep up to date with the latest federal numbers. For example, there are inflation adjustments, expiring tax breaks and changes to rules coming up in 2024 that could impact how much you can save, gift, deduct, etc. Taxpayers will need to be mindful, too, that numerous provisions from the Tax Cuts and Jobs Act are sunsetting at the end of 2025.
Jan 05, 2024
Jan 05, 2024
New Year, New Resolutions
When it comes to New Year’s Resolutions, there seems to be two types of people: those who look forward to making (and sometimes breaking) them, and those who think the whole thing is probably a waste of time. Everyone knows that many popular resolutions are broken by the time Valentine’s Day comes around, just look at the gym in January versus February or March!
Jan 05, 2024
Dec 15, 2023
Exploring the Advantages of Certificates of Deposit (CDs)
In 2023, Certificates of Deposit (CDs) continue to stand out as a reliable and secure investment option, especially due to their higher interest rates compared to traditional savings accounts. These elevated interest rates serve as a compelling advantage, offering several benefits in today's financial landscape.
Dec 15, 2023
Dec 15, 2023
The Resilience of Community Banks: Why We’re Thriving and Retaining Deposits
In the ever-evolving landscape of the financial sector, the significance of community banks has proven to be stable and resilient. Community banks have not only weathered the storm, but have emerged as pillars of strength and reliability, retaining deposits, and securing trust amidst times of uncertainty. Canandaigua National Bank & Trust (CNB) is no exception and remains well capitalized and well positioned to continue to serve our customers and community.
Dec 15, 2023
Dec 08, 2023
Identity Theft 101 & Best Practices
During the first two years of the COVID-19 pandemic, reported incidents of fraud and identity theft increased in frequency substantially. According to the FTC, identity theft complaint frequency rose 113% year-over-year during 2020, with 33% of adults in the United States experiencing some form of identity theft. During 2021, complaint volume grew again, with identity theft comprising about 24% of the 5.9 million overall complaints related to fraud. During this time, the most common complaint types involved government documents / benefits fraud.
Dec 08, 2023
Nov 01, 2023
Frank Hamlin III carries on legacy of service to community at helm of CNB
One of the most surprising things Frank Hamlin III has learned about his role as the head of a community bank is that it has less to do with finances and more to do with relationships.
Nov 01, 2023
Oct 25, 2023
Insurance Considerations As You Start Your Career
Having proper insurance coverage for those starting out in their careers can seem like a daunting proposition. From keeping up with student loan payments and the ever-increasing costs of everyday life, additional expenses are not always easy to take on. However, having adequate insurance coverage is an important part of reducing financial risk and one of the best ways to protect income and assets.
Oct 25, 2023
Oct 25, 2023
2024 Medicare Open Enrollment is Underway
If you are covered by Medicare, it's time to compare your current coverage with other available options. Medicare's Open Enrollment period began on October 15 and runs through December 7. Medicare plans can change every year, and you may want to switch to a health or prescription drug plan that better suits your needs or your budget.
Oct 25, 2023
Oct 18, 2023
What is the Linked Deposit Program?
Over the past 18 months, we’ve seen a historic rise in interest rates while the Federal Reserve has worked to curb inflation from post-pandemic challenges. The rising cost of capital has impacted borrowers across our community with interest rates that haven’t been seen since the early 2000’s. One of the tools that CNB and banks across NYS have used to help our customers is the participation in the NYS Linked Deposit Program.
Oct 18, 2023
Oct 18, 2023
Why is Cash Flow for Your Business Important?
Cash flow is the movement of money in and out of a business, representing the operating activities of a company. Examples of cash flow include receiving payables from clients for goods or services rendered, paying creditors or suppliers, disbursing wages and salaries to employees, investing in new equipment or property, taking out a loan, and receiving dividends from investments or interest earnings. A good gauge of cash flow is reflected in your monthly bank statements. You want to make sure to have enough money coming in to meet your existing financial obligations, as well as planning for the future.
Oct 18, 2023
Oct 06, 2023
A Must-Have for Protecting Yourself Online
Movies are filled with depictions of computer hackers obtaining quick access to their target systems by guessing or cracking a password. In reality, it’s even easier: often the cyber attacker simply needs to send an email or text requesting a password. Anyone can fall for a trick like that if they are caught off-guard. This is known as “phishing,” and it is the number one way for today’s modern cyber security defenses to crumble.
Oct 06, 2023
Oct 06, 2023
Close the Window! Why Security Updates are Essential
You’ve purchased your new personal computer, connected to your home network. What happens next? Microsoft (or Apple depending on your preference) begins a seemingly never-ending process of “updating.” Sometimes comforting and sometimes annoying, our computers seem to want to update all of the time, requiring reboots, delays, and sometimes breaking things. Why all the fuss about updates?
Oct 06, 2023
Oct 06, 2023
Passwords, Safe and Easy!
Most people know that a difficult-to-guess password is the safest kind of password. But difficult passwords are also the hardest to use. Can passwords really be both SAFE and EASY? They can be – if you use a password manager.
Oct 06, 2023
Aug 23, 2023
Romance Scams
A romance scheme occurs when a bad actor creates a fake online persona to gain a victim’s trust within the context of a potential romantic relationship. Fraudsters can masterfully leverage social media or dating websites to construct convincing, attractive, and intriguing profiles for targets. Once a target victim is acquired, the fraudster will lay the groundwork for next steps; they will seem authentic, credible, relatable, and attentive. Often the fraudster will claim to be from the United States but working elsewhere overseas, to provide a built-in reason as to why an in-person meet-up cannot be arranged. These fraudsters take advantage of lonely, vulnerable people by learning how to quickly establish trust and prey on human emotion.
Aug 23, 2023
Jul 20, 2023
3 Steps to Outsmarting Malware
Malware – short for “malicious software” – is any program that runs on your system that is unauthorized by you or performs some unauthorized function. The person who created the malware may intend to cause you or your system harm, steal your private information, or hold your data for ransom. Frequently banking fraud is facilitated by malware, since malware is able to watch web traffic and read information stored on your system (including passwords!). And malware attacks are increasing once again in 2022, with an 11% increase in volume this year according to SonicWall.
Jul 20, 2023
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