The Built for Better Banking Newsletter - August 2023

Union State Bank News & Events

Navigating Financial Independence: 10 Tips for Young Adults


Entering college or moving out on your own for the first time is an exciting phase of life, but it also comes with newfound financial responsibilities. Whether you're the new kid on campus or a young adult taking your first steps towards independence, managing your finances effectively is crucial. To help you navigate this unknown terrain, our experts share their favorite financial tips to set you on the path to a secure financial future.


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USB Contributes

Over $150,000 to Healthcare Foundation


Bringing Union State Bank’s contributions to $151,000 since 2010, the bank renewed its annual pledge to William Newton Healthcare Foundation. This gift names Union State Bank as presenting sponsor for the foundation’s major fundraiser, a formal gala and benefit auction to support the Winfield, KS based community hospital. Historically, representatives from USB have served on the hospital board of trustees, foundation board of directors, numerous committees and volunteered at foundation events.


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Understanding IRAs: Your Path to a Secure Retirement


An Individual Retirement Account, or IRA, is a tax-advantaged savings vehicle designed to help individuals save for retirement. IRAs are offered by financial institutions, including banks, credit unions, brokerage firms, and mutual fund companies. There are two main types of IRAs, traditional and Roth IRAs.  It is recommended that individuals consult with financial professionals for personalized guidance to determine if an IRA fits into your overall retirement plan.


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Click Here to Learn More Cyber Security Safety Tips

Online Security Tip: Protecting Yourself

Cyber attacks, phishing scams, and identity theft are just a few of the very real threats you potentially face every time you are online or use a smart device. Identity theft continues to be one of the fastest-growing crimes in the United States and has ranked as one of the top consumer concerns for the past several years. Below are several tips to help protect yourself.


Never provide your personal information in response to an unsolicited request, whether it is over the phone or on the Internet. Emails and Internet pages created by phishers may look exactly like the real thing. They may even have a fake padlock icon that ordinarily is used to denote a secure site. If you did not initiate the communication, do not provide any information.


If you are unsure whether a contact is legitimate, contact the financial institution. You can find phone numbers and Websites on the monthly statements you receive from your financial institution, or you can look up the company in a phone book or on the Internet. The key is that you should be the one to initiate the contact, using information that you have verified yourself.


Never provide your account information and/or password over the phone or in response to an unsolicited Internet request. A financial institution would never ask you to verify your account information or confirm a password online. Thieves armed with this information and your account number can help themselves to your money.


Review account statements regularly to ensure all charges are correct. If your account statement is late in arriving or does not arrive, call us immediately to find out why. If you have online account access, check your account activity online regularly to catch suspicious activity.


For additional information about online scams and cybercrime visit our website: https://www.myunionstate.bank/services/mobile-and-online-banking/online-security-tips

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Please Report Scams


If you spot a scam, please report it to the Federal Trade Commission.

• Call the FTC at

1-877-FTC-HELP

(1-877-382-4357)

or TTY

1-866-653-4261.

• Go online: ftc.gov/complaint


Your report can help protect other people. By reporting fraud, you can help the FTC’s investigators

identify the scammers and stop them before they

can get someone’s hard-earned money. It really makes a difference.


Information provided courtesy of Federal Trade Commission. FTC.gov/PassItOn

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