Jan Garfinkle, a new member of Bank of Ann Arbor's Board of Directors, is featured in Ann Arbor Spark's weekly CEO Podcasts, Conversations on Economic Opportunity.   In the course of her conversation with Ann Arbor SPARK CEO Paul Krutko, Jan discusses the impact that venture capital has had on the Ann Arbor economy. They discuss the positives surrounding the economic climate in the Midwest - including how much money can be saved by investing and keeping a company in Michigan, how much more bang for the buck venture capital firms can see by investing in Midwest companies, and the access to talent in the Ann Arbor region.

Listen here.  (Note: By clicking on this link you will be leaving boaa.com and going to a third-party site. This link is provided for your convenience. Bank of Ann Arbor assumes no responsibility nor does it endorse, approve, certify or control any aspect of these sites.) 

Bank of Ann Arbor offers you a variety of convenient ways to access your accounts. For each, we take the greatest care to ensure that all of our platforms maintain the same high level of security and integrity, from our ATM network to Online Banking to Mobile Banking itself. 

How do we keep your information secure? 

The same industry standards we have always employed to keep Online Banking secure extend to our Mobile Banking application as well. 

• Username and password to confirm your identity and ensure the privacy of each Mobile Banking session you conduct 

• Personal security question to further guard against identity theft 

• Firewalls - to protect our programs from any unauthorized or malicious intrusion 

• Encryption - to protect the transmission of data including customer account information and the integrity of all transactions 

Banking in secure sessions

Each mobile banking session begins only after you establish your identity via unique, encrypted password and security question. These are required every time you log in. Your session automatically ends when you exit the application, and it will automatically time out if you get sidetracked. 

Things you can do to protect yourself 

• Download the app from reputable sources only - such as iTunes® App Store, AndroidTM Market. 

• Use your phone's built-in lock function - set a password-protect for start-up or time-out.

• Protect your password - do not reveal it to anyone. 

• Protect your phone - from viruses and malware just like you do for your computer by installing mobile security software.

• Memorize your password - don't keep it stored or written anywhere. 

• Never leave your mobile device unattended - while using the Bank of Ann Arbor mobile app or any other mobile activity. 

• Never use public Wi-Fi – when accessing online and mobile banking.

• Log out - completely when you complete a mobile banking session.

Secure management of your money (and the personal information required to process your transactions) is at the very foundation of our business. Whether you access your accounts via teller, drive-up, telephone, Internet, or mobile device, Bank of Ann Arbor protects you with the highest security measures available. 

April 18, 2012--Bank of Ann Arbor's President and CEO, Timothy Marshall discusses our strong, steady growth and plans for expansion in the local business online publication, Concentrate. Read the full article now.

Sunday, March 18, 2012: Bank of Ann Arbor's President & CEO Tim Marshall announces that during the week of March 19-24 all Bank of Ann Arbor offices will collect financial donations (cash and checks) for the American Red Cross of Washtenaw County to be directed to support relief efforts in Dexter. Bank of Ann Arbor is helping with a contribution of $5,000. To learn how Washtenaw Country American Red Cross is helping, visit their web site at www.wc-redcross.org.

Nashville, Tenn. (March 14, 2012)—The Independent Community Bankers of America (ICBA) today honored three community banks that have demonstrated outstanding customer service with the 2012 ICBA National Community Bank Service Awards. The three community bank award recipients were announced during ICBA’s 2012 National Convention and Techworld® in Nashville, Tenn. The ICBA National Community Bank Service Awards bring national recognition to the unparalleled contributions community banks make to help build sustainable communities. The awards are given annually to community banks that show longstanding commitments to community outreach and development.

“ICBA founded the National Community Bank Service Awards program to help celebrate the outstanding volunteer efforts of the nation’s community banks, which exist to serve the needs of their customers and communities each and every day,” said incoming ICBA Chairman Jeffrey L. Gerhart, chairman of Bank of Newman Grove, Newman Grove, Neb. “This year’s award recipients exemplify what community bank service is all about. We commend them for giving their time, expertise and resources to better their communities and the lives of local residents.”

ICBA is pleased to honor the following community banks with the 2012 ICBA National Community Bank Service Awards:

Grand National Award:

• Wyoming Bank & Trust in Cheyenne, Wyo.

National Award:

• For banks with assets over $500 million: Bank of Ann Arbor in Ann Arbor, Mich.
• For banks with assets under $500 million: Bryant State Bank in Bryant, S.D.

Honorable Mentions:

• The Bank of Oswego in Lake Oswego, Ore.
• Northeast Community Bank in White Plains, N.Y.
• First State Bank of Joplin in Joplin, Mo.
• Bankers Trust in Des Moines, Iowa.
• Village Bank in Midlothian, Va.
• Katahdin Trust Company in Houlton, Maine.

As the Grand National award recipient, Wyoming Bank & Trust is being recognized for its “Honor Flight Wyoming” program, which was launched in 2008 for the purpose of getting local World War II veterans to Washington, D.C., so they could see the new World War II memorial. The organization has had six flights from Wyoming and raised more than $626,000 from private donors, which has resulted in flying 679 World War II veterans and 358 Guardians and staff to Washington, D.C. Tom Bass, president of the Wyoming Bank & Trust, is a vice president of the Honor Flight Wyoming organization and one of its founding board members. Wyoming Bank & Trust also participates in several other community service projects throughout the year, including lining the streets of Cheyenne with American flags during the fourth of July and sponsoring an annual coat drive called “Warm Up Wyoming.”

Bank of Ann Arbor was named as a National Award recipient in recognition of its “Sweet 15” social media charity campaign. To commemorate the bank’s 15th birthday, “Sweet 15” mobilized the power of social media by attracting 17,000 people to direct $75,000 of the bank’s money to 15 local nonprofit organizations. During the campaign, the bank’s Facebook page gained over 16,000 new “likes” and created over 3.5 million impressions, which created significant awareness for local nonprofits. President and CEO Timothy Marshall threw his wholehearted support into the effort, encouraging all employees and friends to join the campaign. The enthusiasm and passion displayed by the community for the local nonprofits was overwhelming and benefited local nonprofits, such as Humane Society of Huron Valley, Down Syndrome Support Team, Friends of Fiddlers Restrung, the Neutral Zone and many more.

Bryant State Bank was named as a National Award recipient in recognition of its community development program. As Bryant, S.D.’s largest full-time employer, WW Tire, a tire retail, wholesale and recapping manufacturing company, faced a dilemma: the company had outgrown its facilities and needed to expand, but there were no suitable building sites in the community that had both the space and the infrastructure to meet the needs of the expanding business. The business began to explore options of moving the expansion to a larger community outside the area, which would have a devastating impact on the community. This is when President Jeff Davis, President and Chairman Lee Jacobson, of Bryant State Bank stepped in. Instead of letting opportunities go elsewhere, Bryant State Bank’s donation of more than 200 hours and over 40 percent staff involvement expanded job opportunities, increased public funds and enhanced the community for generations to come. In addition, the project facilitated future growth opportunities for another business, and building plans are underway.

Learn more about these banks’ unparalleled acts of community service and the ICBA National Community Bank Service Awards at www.icba.org.

Bank of Ann Arbor's "Non-local banks think" advertising campaign is featured on The Financial Brand, a web site that reaches 40,000 financial marketing professionals across the country. Read the story here.

Each year millions of senior citizens are victimized by financial fraud or theft of money, property or valuable personal information. Often, an adult child or other relative is responsible. Other situations may involve trusted individuals such as caregivers, legal guardians, investment advisors or new “friends.” And because the types of abuse may differ widely, it’s important to take a variety of precautions. Here are suggestions for protecting yourself and your loved ones:

Choose an advisor carefully. If you’re considering hiring a new broker, attorney, accountant or other professional, even someone recommended by a friend or relative, it’s best to independently look into that person’s background and reputation before investing money or paying for services. For example, you can confirm that this person is properly registered or licensed and has a clean record with regulators and other consumers. When in doubt about how to research this information, ask your state Attorney General’s office or local consumer protection agency for guidance.

Make sure you not only understand the role an advisor will be playing, but trust that this individual will do what’s best for you and your finances. Don’t be afraid to ask questions or say no. After all, it’s your money!

Be careful with powers of attorney. At some point, you may want to have a power of attorney, a legal document that authorizes another person to transact business on your behalf. While powers of attorney can be very helpful, be careful who you name as your representative. “Powers of attorney can be easily misused because they allow the appointed person to step into your shoes and do everything you can do, including taking money from your account and borrowing money in your name,” warned Debi Hodes, an FDIC Consumer Affairs Specialist. “This is a matter to discuss with a lawyer who should prepare or review the document for you.”

Protect your personal financial information. Never give out your bank account numbers, Social Security numbers, PINs (personal identification numbers), passwords or other sensitive information unless you initiate the contact. These requests may come from an unsolicited phone caller, letter writer, e-mailer or a person who shows up at your door. Be especially wary of someone who congratulates you about winning a (bogus) prize or lottery but first demands payment for taxes or other fees.

Also, keep your checkbook, account statements, and other sensitive information in a safe place. And shred paper documents containing sensitive information that is no longer needed.

Closely monitor your credit card and bank account activity. Review your account statements as soon as you receive them and look for unauthorized or suspicious transactions, which should be reported to your bank immediately.

Take your time when deciding on a major financial decision or investment. Make sure you understand the transaction and ask questions if you don’t. If you need to, ask a lawyer or financial advisor to help you understand the documents and discuss what’s best for you. “Walk away from anyone who says you must make a decision or otherwise do something right now,” said Hodes.

Be aware of scams involving reverse mortgages. These loans enable homeowners age 62 or older to borrow money from the equity in their homes. However, reverse mortgages can be complex products with a variety of risks and costs, and there are many reports of schemes by unscrupulous individuals using deceptive offers and high-pressure tactics to steer senior citizens into using the funds from a reverse mortgage for inappropriate or costly loans or investments. For guidance on the responsible use of a reverse mortgage, including how to locate a lender or a housing counselor approved by the U.S. Department of Housing and Urban Development’s Federal Housing Administration, start at www.hud.gov/offices/hsg/sfh/hecm/rmtopten.cfm or call 1-800-569-4287.

Finally, here are additional tips:

• Beware of callers asking for money or information. If you’d like to reduce the number of telemarketing calls you receive, consider signing up for the national Do Not Call Registry (call 1-888-382-1222 or visit www.donotcall.gov). If you are on this list, be suspicious of calls from any company or organization that you have reason to believe is not eligible to contact you under the registry’s rules.
• Don’t comply with requests from strangers to deposit a check into your account (perhaps as part of an Internet sale) and wire some or all of it back. “If you send the money and the check is counterfeit, you may be held responsible by your financial institution for the losses,” said Michael Benardo, Chief of the FDIC’s Cyber-Fraud and Financial Crimes Section.
• If you use social media, many security experts advise against posting the names of relatives and anyone’s home address, full date of birth and daily activities because those can be valuable to a thief. “A scam on the rise involves con artists who look for personal information on the Internet that they can use to call or e-mail an elderly person and pretend to be a relative in distress — such as a grandchild being injured, in jail or lost in a foreign country — and needing money sent fast, without telling anyone else in the family,” added Benardo. “They may also represent themselves as a lawyer or law enforcement agent needing money to help your relative.”

To learn more about common frauds targeting seniors, start at the FBI’s Web page at www.fbi.gov/scams-safety/fraud/seniors. For more guidance on protecting against a variety of schemes, see back issues of FDIC Consumer News (online at www.fdic.gov/consumernews) and visit www.mymoney.gov/category/topics/scams/-fraud.html. 

This article from FDIC's Winter 2012 Consumer News.

What started as an ad campaign for a local company has turned into a case study in how to successfully utilize the power of social media to reach and engage the community.

On February 20, 2012, Bank of Ann Arbor will launch the first publicly-generated billboard messages around Ann Arbor and Ypsilanti. The billboards will feature the slogans as well as the names of the headline writers who were selected as winners in its Build-A-Billboard Facebook contest.

“This is a very unique approach that was prompted by the numerous submissions we had received from friends of the bank since the “Non-local banks think” campaign was created, explained Tim Marshall, President and CEO. “It speaks to a broader trend of using social media to engage consumers in a brand, which normally plays out on a very large scale with multi-billion dollar companies doing national programs. It just goes to show that even smaller, locally-based companies can use social media to gain awareness and engagement with the local community.”

Bank of Ann Arbor’s “Non-local banks think” campaign, aimed at pointing out the differences between a successful local community bank like Bank of Ann Arbor and those headquartered outside Washtenaw County, has been using clever twists on area landmarks, businesses and public figures since its spring 2010 launch. The campaign, featuring billboards with slogans such as "Non-local banks think Bo and Woody were in Toy Story," won two Ann Arbor ADDY awards in 2011, a gold award for the radio spots, and a silver award for the billboards.

The campaign has also been met with great enthusiasm among the public, as well as local business and non-profits who are excited to see their businesses featured and find out who will be the next one featured. Shortly after its launch, Bank of Ann Arbor started getting emails and phone calls from people volunteering suggestions of local landmarks to be featured, as well as suggesting their own clever headlines. This enthusiasm inspired the bank to launch a Facebook contest for people to submit their ideas.

Build-A-Billboard launched on Bank of Ann Arbor's Facebook page on October 3, 2011 inviting submissions for the “next great billboard idea” using a custom Facebook application created by Perich + Partners specifically for Bank of Ann Arbor. The app created a virtual version of the bank's distinctive green and white billboard displaying entrants’ headlines, and then posting them on the bank’s Facebook wall.

More than 700 “Non-local banks think” headlines were submitted by over 400 unique users during the contest. Weekly winners were chosen, and in November the bank announced eight runners-up and a Grand Prize Winner. Janine Hutchinson, with her slogan “Non-local banks think Mani Osteria plays for the Tigers” was selected as the Grand Prize winner.

Other winners and their slogans that will be on billboards around town are:

• Alain Benighil: Non-local banks think Eisenhower and Packard were WWII generals

• Alain Benighil: Non-local banks think Wolverine Tower is a U-M cheerleader stunt.

• Ashley Edwards: Non-local banks think The Brides Project is a new show on BRAVO.

• Beth Langenderfer: Non-local banks think The Jerk Pit is a singles bar.

• Janet Lawton: Non-local banks think Thurston was stranded on Gilligan's Island.

• Janine Hutchinson: Non-local banks think Alfred Taubman is on the cover of Mad Magazine.

• Karen Farmer: Non-local banks think Kosmo is a character on Sesame Street.

• Steve Marsh: Non-local banks think Briarwood is where Peter Rabbit lives.