1st Mariner Bank

1st Mariner Featured in U.S. Army PaYS Program Testimonial Video

Thu, 16 May 2013 08:16:00 -0400

Last year, 1st Mariner Bank utilized its partnership with the United States Army Partnership for Youth Success (PaYS) Program by recruiting Ciara Brown, a former Chemical Operations Specialist in the Army Reserve, as a teller at our Cockeysville branch. The PaYS Program is committed to assisting Soldiers in securing their future once their service to our country is complete. Their website describes the program as a "win-win-win" for the Army, the Soldiers, and participating partners like 1st Mariner.

PaYS recently shot a video testimonial of Ciara and branch manager Kathy Scott at our Cockeysville branch. The video is featured on their homepage, and they were nice enough to allow us to share it as well!

We thank PaYS for thinking of us for this testimonial and look forward to continuing our partnership!

The Life of the Business

Wed, 15 May 2013 09:31:00 -0400

A few years ago the air conditioner in my car started making very ominous groaning sounds which I was a little slow to hear on account of the fact I cannot drive without the radio blasting at ear splitting decibels. By the time the groaning turned to sickening grinding and hot air began spewing out of the vents, I knew things were beyond hope. Not having air conditioning in August was bad enough, but the thought of taking my car to the dealer and paying to replace the entire system made me break out into a real sweat. I began asking around at work to see if anyone knew of a local mechanic who would look at the situation and not charge me 3 months’ worth of mortgage payments. A coworker gave me the name of a mechanic who diagnosed the problem (I did not need to replace the whole system!!) and only fixed what was wrong. I was able to escape the whole episode for the cost of my normal monthly cable bill – quite a relief.

From that day forward, I have taken my car to the same mechanic. His shop is not conveniently located near my house or my office; as a matter of fact I have to rent a car every time I go in for service. However, Rick knows my name; knows my car; doesn’t fix what’s not broken and never goes by the standard hourly charge. I trust him and have referred many friends to him.

The economy has taken a toll on his business but his doors remain open. But every once in a while, I wonder what will happen to the business if something were to happen to him. Does he have a plan to cover the expenses of the business should he be injured (on the job or off)? What if he dies unexpectedly? Will his family have enough money to survive without his income? Is there someone to take over business?

While all of these questions should be asked, they are frequently not addressed. Whether it’s because the topic is too morbid or no one ever thinks something bad is going to happen, planning for the continuation of a business is not glamorous, but it is necessary. If you get injured on the job, how are you going to make sure the day-to-day expenses of running your business are covered? How is your company going to survive if the person who brings in the most business suddenly dies? What happens to the business if you, as the owner, suddenly die?

It's for these situations that life insurance products such as Business Overhead Insurance, Key Man Life Insurance, and Buy Sell Agreements were invented. All of these products provide protection for the business itself and the family members left behind should something happen to the heart and soul of the business – YOU!

Waiting until something happens is too late. Take a look at your business now and see what plan you have in place for the future.

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Spring Clean Your Finances in 6 Days - Part 3

Mon, 13 May 2013 10:32:00 -0400

So you've made it to part 3 of the Spring Clean Your Finances Challenge! (Or if you are new to the challenge, go to Part 1 and Part 2.) We're on the final stretch and the finish line is in sight! Here we go...

Day 5: Revisit Your Budget

If you had a successful day 4, day 5 is going to be a good one for you! You’ve saved yourself some money; now let’s see how that extra cash can best be used. Hopefully you already have a budget of some sort in place and track where your money is going. If not, you can set this up quickly and easily using a personal finance manager such as Mariner360.

Now that that’s settled, it’s time to ask yourself a few questions. How closely are you able to stick to your budget? If you often go over the amount of money you have allocated for personal spending, take a look at the things that you’ve purchased over the past few weeks. Could you cut back on your Starbucks trips by making coffee at home? How often to do you eat meals out? If you feel that you are fairly responsible with your money but have trouble staying below your limit, go ahead and give yourself a little bit more with the money you’ve saved from day 4.

If you have a lot of debt, use this money to help pay it off, or if your emergency savings account isn’t fully funded with 3-6 months of income, add more there.

Day 6: Check Your Credit Reports

You can do this for free once a year thanks to the good ol’ Fair and Accurate Credit Transactions Act (FACTA), so take advantage! Go to www.annualcreditreport.com and request your free copies – yes, copIES. FACTA entitles you to an annual free copy of your credit report from all three of the major credit bureaus – Equifax, Trans Union and Experian. You never know which credit bureau creditors are going to use, so it’s important that all three are accurate.

Checking your credit reports regularly is an important (and easy) measure to take in order to detect identity theft early on. The earlier you find any fraudulent activity, the easier it is to remedy. If you find any fraudulent activity on any of your credit reports, report your findings immediately. If everything looks accurate, Day 6 is complete!

All Done!

Voila! Your 6 Day Spring Clean Your Finances Challenge is complete! Your reward? Now that you have completed all of those pesky tasks that have been hanging in the back of your mind, you can sit back, relax and enjoy the rest of this beautiful spring weather worry-free!

Celebrate Mom without Your Wallet

Thu, 09 May 2013 11:18:00 -0400

After all she’s done for you, having just one day devoted to your mother just doesn’t seem like enough. That’s why you may feel inclined to shower her with expensive gifts and outings. But think about it – would your mother really want you taking out a second mortgage on your home for just one day? Didn’t she teach you better than that? Here are some ideas on how you can make your mother feel like the special woman that she is without going broke this Sunday.

Make Her a Meal

Stay away from the crowded restaurants and instead stay home and cook your mother her favorite meal! You will be able to enjoy a nice quiet conversation over delicious food made with your secret ingredient – love. Best of all, you won’t be rushed out to make way for another group as soon as you finish eating. Depending on what you make, you may spend a little bit more on this meal than the average meal you cook, but it should still be much cheaper than eating out!

Go on a Day Trip

Drive to the beach for the day and relax, or visit DC where you can take advantage of the free Smithsonian museums. Spending a day together is more meaningful and less costly than material gifts.

Give Her a Homemade Gift

There's nothing more thoughtful than a homemade gift. Now if you are thinking that you aren't creative and crafty enough to produce something nice, check out our Homemade Mother's Day Gift Ideas board on Pinterest. The simplicity of some of these ideas may surprise you!

Do Her Chores

Don't let your mom lift a finger on Mother’s Day! Clean her entire house, wash her car, run her errands, etc. If your mother is always on top of things and needs nothing done immediately, create some “vouchers” for her to use in the future for various tasks.

Write Her a Letter

This is an especially good option for those who do not live close to their mothers. So when I say “write,” I mean with a pen, not a keyboard. And when I say “letter,” I mean on a physical piece of paper or greeting card, not a computer or phone. Write something thoughtful and detailed – something that could only come from you. Then put it in the mail (as in post office service, not internet). Physical letters are much more sentimental then electronic messages.

Whatever you decide to do, make sure your mother knows how much you appreciate her and everything she’s done for you!

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Spring Clean Your Finances in 6 Days - Part 2

Wed, 08 May 2013 12:20:00 -0400

Welcome back to the 6 Day Spring Clean Your Finances Challenge! In case you missed part 1, click here. Otherwise, we're on to day 3...

Day 3: Take a Look at Your Retirement Plan

Step 1: Do you have a retirement plan? If so, move on to step 2. If not, start one…right now! Never underestimate the power of compound interest. You can start by looking into retirement plans that your employer offers. There are often incentives associated with these accounts that make these investments worth your while. However, when you are first setting everything up, it’s smart to meet with a financial consultant. There are many things to take into consideration when saving for retirement and many factors that go into how much you should be putting away. A financial consultant can do all the hard work for you and talk you through the process of getting your account(s) set up.

Step 2: So you have a plan in place – great! Now when was the last time you reviewed your plan? Since the hard part is setting up your retirement plan, many people think that once this is done, they can sit back and relax for the next 40 years. Not true! It’s important to review your plan periodically to make sure you are making good progress, everything is still on track, and your plan accounts for any major life changes you have made. Our Retirement Planner Calculator is a good place to start to see if your plan is still a good one.

Day 4: Find Ways to Save Money

Today you will “audit” yourself to see what you are unwisely spending money on. Do you have all of the premium movie channels but rarely use them? Maybe you would be better off getting rid of the channels and instead subscribing to Netflix or taking advantage of Red Box or movies on demand. Or maybe you do subscribe to Netflix but never use it – time to say goodbye! The same goes for magazine and online subscriptions. It’s easy to continue subscribing to a product or service for $10 a month and seems not worth the trouble to get rid of it…but if you have 5 of these unused subscriptions, that’s $50 a month you could save by getting rid of everything.

Also, when was the last time you shopped around for insurance (car, home, health, etc.)? You may have done your research and gotten several quotes initially, but if it’s been awhile, things have probably changed and there’s a good chance you can lower your premiums.

Stay tuned for the 3rd and final part to the Spring Clean Your Finances Challenge!

Spring Clean Your Finances in 6 Days - Part 1

Mon, 06 May 2013 10:03:00 -0400

'Tis the season of spring cleaning – my favorite time of year! What? You disagree? Well how about right AFTER spring cleaning? Coming home to a freshly cleaned house is a wonderful way to come home. It leaves you feeling relaxed and stress-free…that is, until you start to think about other areas of your life causing you stress.

Solution: Spring clean those other areas of your life as well! Organize your space at work, clean out your email inbox and…here’s the doozy: clean up your finances! I know cleaning up your finances may sound like a daunting task, but if you tackle it the right way you can get it done in no time! Well, not quite “no time,” but how does 6 days sound?

I bring you the 6 Day Spring Clean Your Finances CHALLENGE!

Day 1: Consolidate Your Accounts

Especially if you have moved around a lot in recent years, you may have checking and savings accounts that you no longer use. While it’s easy to keep unused accounts open, you may be accruing fees and you are definitely not putting those funds to good use. Even if you only have a small amount in these accounts, it’s time to close those accounts! If you have moved and do not have a branch near you, you can generally request that your account be closed in writing. Contact the financial institution to find out exactly what information they require.

Additionally, if you have changed jobs you may have an inactive 401(k). It’s time to roll that into an IRA! You will first have to open said IRA so that you actually have an account to roll your funds into. Then contact the company that runs your old 401(k) and ask them to transfer the funds. In some cases, it might be best to leave your funds where they are. Consider talking to a financial consultant who can talk you through the process and give you tips on managing your retirement fund.

Day 2: Get Organized

Organization...that dreaded word. The good news is that since you have just consolidated your funds into fewer accounts, you have less to organize! If you have a giant stack of “important” papers somewhere in your house, it’s time to tackle them! Go through everything and figure out what you need to keep and what you should throw away or shred.

If you have a filing system in place, your work today will be a little bit easier, but you should still go through everything and get rid of things you no longer need. If you don’t have a filing system…today you must figure one out!

Organization Day is not a fun day for many people. To make it easier in the future, switch to electronic documents whenever possible. Enroll all of your accounts in Online Banking with electronic bank statements and Bill Pay. This way, all of your statements and bills will still be filed, but instead of ending up in a messy stack on your table, they will be organized for you in a secure electronic format!

Ready for Day 3? Click Here.

Things To Do Before You Leave the Country

Wed, 01 May 2013 14:29:00 -0400

Whether you travel for business or for pleasure, whether it’s your first time or you’re a professional, it’s helpful to have a checklist of things to do before you leave the country. Some things are easy to overlook and can make or break your experience while abroad.

Planning

Like most things in life, planning is the most important step to making your trip a success:

Contact Banks/Credit Card Providers: Many banks will detect foreign transactions as fraudulent and will block transactions initiated abroad unless they were notified in advance. It’s good to travel with multiple methods of payment like bank cards, credit cards, and cash.

Email Travel Documents: Email documents including your travel itinerary, flight information, and hotel information including all important phone numbers both to you and a friend or family member at home. This way, if you lose the documents or someone needs to contact you, all pertinent information is easily accessible.

Copy the Contents of Your Wallet and Your Passport: Copy the front and back of everything in your wallet. Keep one copy at home and one in the hotel safe or other secure location while traveling. Having copies allows for quick cancelation and/or replacement if needed. While you can’t travel with a copy of your passport, having a copy will help get it replaced quicker if needed.

Cell Phone / Skype: If you plan to use your cell phone, be sure to talk with your provider about international plans to save expensive roaming charges while abroad. Consider opening and using a Skype account to communicate while abroad as this is a free internet service that allows you to video conference with anyone in the world.

Consider Power: Be sure to know both the plug and voltage differences where you plan to travel. Simply having a plug converter might not be enough if the voltage is different and your device doesn’t support multiple voltages. I learned this first hand and it isn’t pretty.

Stop Mail/Newspaper: Be sure to stop your mail/newspaper delivery.

Notify the State Department: Register with the State Department so they’ll know your whereabouts. While we don’t want to consider an emergency abroad, it’s better to be prepared and ensure they know where you are and for you to know where an embassy is.

Pick Up Travel Books: Even if you don’t have time to read them before you leave, read them on the plane to get a good idea of things to do, things to avoid, and ways to make the most of your trip.

Packing

While packing is fairly straightforward and doesn’t vary much from traveling domestically, there are some things you should consider when traveling abroad:

Power Convertor: Now that you know the power and plug configuration, be sure to pack the right device to power your electronics.

Carryon Luggage: Airlines are not perfect and luggage goes missing sometimes. If it does, you’ll want an extra set of clothes and important medications in your carryon to hold you over.

Medicine: Be sure to not only pack your medication but also bring an extra prescription and be sure you scope out local pharmacies at your travel destination just in case.

Antacid: Even if you don’t typically have digestion issues, when eating local cuisine, foods might not always sit well. You’d rather have it and not need it then need it and not have it!

Traveling

You've planned, you’ve packed and it’s time to enjoy your trip. When traveling abroad here are some things to keep in mind:

Safety/Security: No matter where you’re traveling, you can’t be cautious enough, but when abroad, pay particular attention to your surroundings and travel in groups if possible. Keep your possessions held tightly and out of sight. Pick-pocketers thrive on unsuspecting, unaware tourists.

Access to Money: Most places accept credit cards and this is always a safe option. When exchanging currency, be sure to know the current exchange rate as not to get ripped off at a currency exchange center. Another solution is to use your ATM card. While you may pay ATM fees, you’ll likely save as the exchange rate will be calculated at the nightly inter-bank rate, which can be more advantageous than at currency exchange centers.

Internet Banking: It never fails; you forgot to pay a bill or need to transfer money. Don’t sweat; we’ve got you covered with our robust online banking suite.

Now it's time to enjoy your trip. Don’t hold back, enjoy the fine wine, great cuisine, memorable sights, and experiences that will last a lifetime.

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Why Buy Local?

Thu, 25 Apr 2013 14:43:00 -0400

Consider this: A tomato seed planted hundreds of miles away takes the journey through life and makes its way to the grocery store chain in your neighborhood. Along this journey, the tomato was likely picked when it was still green so that it wouldn’t be rotten from the time it takes to get from the farm to the store. Not only this, but typically tomatoes don’t grow well when picked pre-maturely nor do they ripen organically while inside a trailer being pulled across the country. To accommodate this, hormones and preservatives are oftentimes applied so the final delivery yields a perfectly ripened tomato.

Because this tomato was packaged in a huge crate, treated with stimulants, hauled across hundreds of miles, and delivered to your local grocery store chain, the final product is both less than organic and has significant overhead costs considering its journey. When you buy this tomato from the local grocery store chain, the money spent now goes back to the town where the store is headquartered, to the trucking firm who transported the shipment, and to the farmer who grew the produce - none of whom live in your community nor contribute to your community’s well-being.

While this example may seem specific, it represents the system of commerce we’ve all come to accept. Consider the opportunity to buy local goods from local businesses and imagine the impact this could have on our economy, on our health, and on our communities.

When you buy local, money stays in the local community. Local producers have the opportunity to provide products and services to local retailers. Local retailers will hire local employees to sell these products and services to local shoppers. In short, jobs are created in our communities, which creates a sustainable revenue stream so that more people have the capacity to buy more goods and services.

When local people are gainfully employed and when we buy local, cities and townships benefit with increased tax revenue. While we all may cringe at the thought of taxes, it is great to know that the taxes paid benefit our immediate community. This means better schools, smoother roads, and better public health and safety.

While economics may be inspiring, it is by far not the only consideration. When you buy local, you get a product that is much more closely related to the producer. This means better quality, fewer preservatives, lower transportation costs, less pollution during transportation and better products and services to keep you coming back.

This concept even applies to banking. By being a local community bank, you have access to local experts, local advice, and local decision making, which is the foundation of our core values. When you bank local, you keep jobs in our communities, you get great products and services, and you don’t only get a bank, you get a partner in the industry who cares about you, your business and your community.

As we are committed to the buy local initiative, we are the title sponsor of the Buy Local, Buy Maryland campaign. We hope you check out this initiative and make the choice to support your local businesses and buy local.

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7 Ways to Save Money Recycling

Mon, 22 Apr 2013 11:24:00 -0400

We recycle because it helps reduce waste and pollution. We recycle because it’s good for the environment. We recycle to make the world a better place for future generations. These are all good, selfless reasons to recycle, which is why many of us do it. But have you ever thought about what recycling can do specifically for YOU? Why not be kind to the environment AND save money recycling at the same time? Here are 7 ways you can do this:

1) Refill or return empty ink cartridges.

Bring your empty printer cartridges into participating Walgreens and they will refill them for $12.99 – generally much cheaper than purchasing a new cartridge. Alternatively, Office Depot and Staples give you member rewards dollars for bringing in your empty ink cartridges.

2) Put your old compact discs to good use.

Do you have a huge stack of old CDs from back in the day, before the age of iPods, smartphones and music streaming? They make great reflectors and can easily be attached to a child’s bike.

3) Trade in your old electronics.

Not sure what to do with your old cell phones and computers? Several retailers including Best Buy, Walmart and Target have trade-in programs in which you receive store credit for bringing in your old small electronics.

4) Recycle your wrapping paper.

After being used to wrap gifts, wrapping paper can then be used for things like textbook covers, scratch paper for making grocery lists and lots of other things that you would normally purchase. Click here for other creative ways to reuse wrapping paper.

5) Create your own Tupperware.

Before purchasing Tupperware, see what you can get out of old containers (yogurt, Chinese take-out, etc.) You might not get every shape and size you need, but it’s a good place to start!

6) Create new things out of your old clothes.

Whether your clothes no longer fit or have just lost their appeal, as long as the fabric is still in good shape you can make accessories such as bags or wallets. If this sounds too advanced for you, simply cut old jeans into shorts or use your old clothes as dust rags.

7) Join the Freecycle Network and get free stuff.

The Freecyle Network is a nonprofit movement of people dedicated to keeping quality items out of landfills. Join the group in your location for free and post items that you are trying to get rid of, as well as items you are looking for. You can often find things like furniture that people are trying to get rid of before a move and old toys from people whose children outgrew them.

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FREE Shred-It Day

Mon, 15 Apr 2013 15:15:00 -0400

What do you do with your paper documents when you no longer need them? Toss them in the trash? You might want to reconsider that decision. I never thought much about shredding important documents, until we found out the trash men were going through our trash! It’s a scary feeling knowing that someone you don’t know has access to your personal information. Don’t let it happen to you - take advantage of 1st Mariner Bank’s FREE Shred-It Day!

1st Mariner Bank is holding a FREE Shred-It Day on Saturday April 27th. There will be Shred-It trucks at the Cockeysville and Dundalk branches from 9:00 a.m. – 1:00 p.m.

Just in time for Earth Day (April 20th) and spring cleaning! Not only is shredding your documents an important step in protecting against identity theft, it’s an easy way to help the environment.

So, if you have things like old paper bank statements lying around collecting dust, bring them to 1st Mariner’s FREE Shred-It Day on April 27th. And, by the way, if you are currently receiving paper bank statements, consider enrolling in electronic statements. Why? Enrolling in eStatements is a safe and secure way to receive your account information without crowding up your file cabinets (or if you’re like me, baskets in your kitchen stuffed with papers that you don’t have time to file/don’t feel like filing) and save some trees at the same time!

Go Green! Join us April 27th for 1st Mariner Bank’s FREE Shred-It Day, and enroll your accounts in eSatatements today!