The Bedlam Game is December 7th!
Regardless of who wins…we’d all agree that our communities can win by each of us supporting local food pantry needs during the Christmas season.
BOC is asking YOU (our incredible customers, friends and neighbors) and all employees to get involved in our bank wide food drive THIS WEEK. (Dec 2nd-6th).
Each of our offices will choose a local food pantry to support with the items collected and we’ll have a special place in the lobby for YOU to support your favorite Bedlam team!
Some suggestions are listed below:
- Monday- Canned meats, vegetables, or fruit
- Tuesday- Noodles or Peanut butter
- Wednesday- Pantry items
- Thursday- Soups (Chicken Noodle, etc)
- Friday- Personal Care items (Shampoo, body wash, toothpaste, or soap)
Who will get bragging rights in 2013??? OSUCowboys or OUSooners…
May the best team win!
(Thank YOU for getting in the game…)
BANK OF COMMERCE
Posted in Banking - General, Community
Tagged Bank Of Commerce, bedlam, canadian county, community bank, el reno, food drive, football, go pokes, local food pantry, Mustang, osu, ou, support, yukon
Many of us in the business community are asking the same questions as it relates to the economy since the “Government Shutdown” occurred. You may have wondered about this too.
- Will the shutdown impact the overall economic recovery?
- How will the housing market be impacted?
- When can we expect a full economic recovery?
Below we have provided the latest update from FreddieMac about the impact of the shutdown on the economic recovery, housing market and more.
Link to video
Stop by any of our locations and ask about our new text alerts whenever and wherever your debit card is used. Always be in the loop when it comes to the use of your debit card!
We visited with our friends at the Oklahoma Bankers Association recently about how the “shutdown” might impact Oklahoma Banks… The information below was shared in their current press release. We think it might answer a few questions and help shed light on the current situation.
“The government shutdown has raised a few questions about what it may mean for individual consumers. How will it impact the ability to access their money and other banking services? Is the FDIC insurance still effective and in place? Here’s what consumers need to know:
- Access to your money. Yes, you will continue to have access to your money. ATMs will continue to work and your bank will still be open during its regular business hours; (Locate BOC’s ATM’s HERE)
- Deposits are safe. Your money is safe. The Federal Deposit Insurance Corporation (FDIC) will continue to insure your deposits up to $250,000. Remember: your bank BUYS this insurance. It is not taxpayer money and, thus, is not affected by the appropriations process in Congress;
- Social Security and Medicare payments will continue. Both are funded by payroll taxes and those payments will continue during the shutdown, however long it may last;
- Most loans are still available. Fannie Mae and Freddie Mac are largely unaffected by the shutdown. Their operations are funded by fees to lenders, so most loans will continue to be available to consumers. This same scenario applies to VA loans. While the loans are available, the tax transcripts (from the IRS), which may be required by some vendors to close, are not. BUT;
- Some government-guarantee loans may be unavailable. There’s a lot of confusion out there, but the Farm Service Agency (part of the Department of Agriculture), the Federal Housing Administration and the Small Business Administration will continue to process loans, but at a reduced rate. As a result this may create a backlog and could keep banks from offering consumers these products. This does not apply to Fannie or Freddie, as noted above;
- Banks will continue to be regulated. Federal banking regulators – the Federal Reserve, the Office of the Comptroller of the Currency, the Consumer Financial Protection Bureau and the FDIC – are all open and will remain open because they are not subject to the federal budget. Banks pay for those federal banking examinations.
Oklahoma bankers will continue to work with their customers as they always have, and they will be ready to answer any questions or concerns raised by their customers about how they may be impacted by the shutdown. Most customers and bank services will not be affected by this national event.” (Source: OBA, published with permission)
**The OBA conducts more than 70 educational programs and seminars each year, which reach more than 5,000 bankers across the state. The Association represents approximately 230 banks across the state and serves as the primary advocate for the banking industry. It’s also heavily involved in fraud training and prevention as well as legal and compliance services and communications for its member banks.
Bank of Commerce is proud to serve YOU! If you ever have concerns, questions or need assistance, please do not hesitate to contact us on our BLOG.
Posted in Bank Regulatory, Banking - General, Community
Tagged Bank Of Commerce, congress, government shutdown, Home loan, local banks, oklahoma bankers association, refinance home, regulation, security
Smithsonian in EL RENO! Sponsored by Bank of Commerce
Isn’t it interesting how we can tell a lot about a person by the music they listen to each day? In fact, you can tell a lot about our country (USA) and its roots just from the musical heritage we have experienced and enjoyed!
Over the next several weeks the communities we serve will have a great opportunity to experience the history and culture of the music that has shaped our culture…our American roots.
Bank of Commerce is proud to be a sponsor of the Smithsonian traveling exhibition, “New Harmonies – Celebrating American Roots Music” which is now setting up at Redlands Community College in El Reno. We hope you will take a few hours from your busy lives and go see and hear the music that has formed our culture. Whether you enjoy sacred or secular, jazz, country or rock n roll…this exhibition will be enjoyed by all! Special thanks to the Oklahoma Humanities Council for facilitating this great experience for our state!
“The main beat of the exhibition is the ongoing cultural process that has made America the birthplace of such great music. An inspiring and toe-tapping examination of America’s mulch-culutural exchange, New Harmonies is full surprises about familiar songs and instruments while exploring the continuity of musical roots – from the flourishing of sacred music to the emergence of commercial folk and country.”
– Smithsonian Institution
Experience the exhibition:
at REDLANDS COMMUNITY COLLEGE
SEPTEMBER 27th – November 8th
If you visit, tag us on twitter @bankofcommerce and mention #newharmoniesER
Posted in Community
Tagged #newharmoniesER, Art, Bank Of Commerce, canadian county, el reno, exhibit, heritage, museum on main street, music, new harmonies, ok humanities council, redlands community college, roots, smithsonian
The US economy is recovering…at least this is what many economists believe.
With consumer spending on the rise, real estate construction increasing and housing prices going up – it appears the economy is recovering.
But this time our growth is slower than any recovery before!
Stop by and visit a Bank of Commerce community banker today at a nearby location or contact us HERE. We would love to introduce you to what community banking is all about!
It’s no secret that interest rates are on the rise across the USA. In fact, most of us have heard of interest rates rising on mortgage loans specifically.
So with rates increasing, what does this mean for the housing market and the overall US economy? The video below addresses a few of the big questions we have heard many people ask.
The big questions:
1) What will the real impact be on the US economy if interest rates continue to rise? AND…
2) How will this increase in rates impact the US housing market?
If you have a question about this topic or other financial matters, please don’t hesitate to email the Bank of Commerce.
Posted in Banking - General, Financial Education, Home Loans, Real Estate Loan
Tagged BOC mortgage loan, community bank, doug caudill, el reno mortgage, FED, housing, interest rates, jim faaborg, jolynn craig, refinance home, rob roberts, us economy, yukon mortgage
It’s been a long road of recovery after having that EF-5 tornado travel through Central OK and experiencing cantaloupe sized hail stones! When you get tornadoes and hail…you’ll most definitely have the headache of property damage, filing insurance claims and receiving property damage insurance checks.
To help you save a little headache time we’d like to comment about THE ENDORSEMENTS NEEDED ON THOSE INSURANCE CHECKS. There are multiple sites you can review on “how to endorse insurance checks” properly. This is simply the process where each of the payees on the face of the check sign off..or endorse..the reverse of the check so you can deposit it into your account.
The key here is to review the PAYEEs first and know what is required.
PAYEE: “John Smith and Sally Smith and Bank of Commerce”
ENDORSEMENT: must have all three endorse the check. The key is AND.
PAYEE: “John Smith or Sally Smith and Bank of Commerce”
ENDORSEMENT: must at least have John OR Sally AND Bank of Commerce.
The critical thing to know is that if you don’t obtain the proper endorsement, the check you deposit to your account WILL be returned for something called “Missing Endorsement” or “Improper Endorsement” and your bank WILL debit your account for the amount in question.
- Contact your insurance company and ask what they will require for you to deposit the check and be able to use funds.
- Obtain ALL endorsements on the reverse of the check.
- Endorse the check with the same names as payees.
- Don’t deposit the check until endorsed.
- Don’t use proceeds of the check until you are confident it has cleared.
Keep in mind that every situation is a bit different and insurance companies and banks are too. Do your homework, ask questions and save a big financial headache by having your check endorsed correctly BEFORE you deposit the check.
If you have a question about an endorsement or need assistance with other banking or financial matters, please EMAIL us.