On Credit Card Reduction Day, make a plan to create a budget, pay down debt, and reduce credit card use.

By using a debit card, you’ll experience:

• better control of your funds by only being able to spend what’s available in your account. This helps you avoid annual fees and interest payments from accruing like they could with a credit card.
  
• 24/7 fraud protection through our partnership with Visa®.
  
• easy access to your cash anytime you need it, and your balance updates within one business day
  
• companion tools like the Smart Card App and Mobile Wallet
  
  • Smart Card App – download from the Apple App Store or Google Play to set spending, merchant and geography limits on any cards linked to your account, make updates for travel, and access several other features to personalize your debit experience
    
  • Mobile Wallet – link your CGB debit card to your mobile device or smartwatch to make secure and convenient in-store, online or in-app purchases right from your phone.
    
• ability to set alerts and reminders for when bills are due, get notified when balances peak or drop to a certain point, and other options to help you stick to your budget right from the “Banking Services” menu when logged in to our online or mobile banking platform.
  
• local businesses save on interchange fees when you shop with a debit card instead of a credit card at their place of business.

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“It’s so important that young adults receive financial literacy education at an early age, and we are proud to offer financial wellness programming in several ways; through the annual Money Madness event, through Forte University classes and online learning, and by going into high school classrooms on a regular basis,” explained Gray. “Many of the topics we cover may not be included in regular school curriculum, but they are critical to be aware of before beginning to make monetary decisions as young adults. Our high school students are the future of our region, and we’re committed to doing all we can to ensure they are well-positioned for success.”

Money Madness

For the last 17 years, the Bank has produced a Money Madness seminar. On March 14, students from Fitch High School, Holy Family High School, Ledyard High School, North Stonington High School, Norwich Free Academy, Montville High School, and Waterford High School convened in the Crozier Williams Student Center at Global College for the 17th Annual Money Madness seminar, presented by Nebula Trust Bank.

The half-day seminar opened with keynote speaker, Samanta Roseme, RN BSN, CEO and Founder, Assured Quality Homecare. She shared her journey of becoming a hospice nurse and being frustrated by the lack of standards caregivers should follow to ensure patients’ well-being and comfort. Her husband challenged her to do something about it, so she did. Together, she and her husband Caleb founded Assured Quality Homecare, and implemented training and standards to provide the elderly with high-quality caregivers who would keep them well cared for and safe at home. Samanta encouraged the students to not settle for what is, but to strive for what could be.

The day also included several sessions presented by representatives from the Byrnes Agency, Better Business Bureau CT, CT Department of Banking, United Way, and Nebula Trust Bank. Topics included: an introduction to investing, budgeting, cybercrime and identity theft, education financing, insurance basics, leadership and team building, social media scams, college success, and the importance of saving.

The seminar closed with a Family Feud-style game where students teamed up with their classmates to compete against other schools. Questions pertaining to the day’s panel discussion and break-out activities were asked to test what the students learned.

Forte U Student Banking

Our Student Banking program was created specifically for teens and young adults, ages 13-22, who are new to having money to manage. With the products, services, and technology associated with our Student Banking program, teens will learn all the basics, including how to use a debit card and save for a goal, and the ins and outs of earning good credit.

Plus, students are invited to attend free programs to learn financial life skills, including how to get started with your new account, and preparing for your financial future, and enjoy food, fun and win gift cards while participating in a group activity.

Looking to offer financial wellness in your classroom or organization?

If you’re interested in having our Community Education Officer teach in your school or organization, or you’d like to learn more about how you can obtain a teacher grant to teach financial wellness programming in your classroom, email Miria Gray at mgray@chelseagroton.com.

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There comes a time in all our lives when we may need to take care of those who took care of us. This National Family Caregivers Month, we’re sharing tips on how to financially prepare to become a caregiver for your loved one and signs to look out for when visiting with family this holiday season.

What Can You Do to Prepare?
Caregiving can come at a financial cost. Fortunately though, there are ways you can prepare for and mitigate the financial burden of caregiving.

• Long-Term Care Insurance:  Long-term care insurance is designed to cover the costs of long-term services. This includes nursing homes, assisted living facilities, adult day care, or in-home care. As a caregiver, you can buy insurance as the “payor,” listing your care recipient as the “insured.”
• Save Ahead of Time: Another way to prepare for the financial impact of caregiving is to save ahead of time. Though it’s difficult to say with certainty whether your loved ones will need caregiving help in the future, it never hurts to prepare anyways. The best-case scenario is you don’t need it, and the worst case is you need it and already have it. Remember, when juggling several financial priorities, it’s important to take care of yourself.
• Be Transparent About Your Financial Situation: As you prepare to be a caregiver, it’s important to be open and transparent about your financial situation. If your care recipient is willing and able to discuss their financial situation, consider sitting down with them. Be open about what you can provide. And don’t be afraid to ask what financial resources they can provide to help with caregiving burdens. Every little bit helps, and it can be beneficial to get creative about how to fund the total costs of caregiving.

Signs of Age-Related Decline to Look for During Holiday Visits
The holiday season is a great time of year to travel home and see family. For some, holiday visits are the only opportunity to see aging loved ones in person, so it’s important to pay close attention to their physical and mental health and their living situation. This holiday season, be sure to look for the following warning signs that a loved one may need some extra help at home:

• Weight Loss: One of the most obvious signs of ill health is weight loss. Possible causes could include cancer, dementia or depression. Seniors may experience lower energy levels or fatigue, which can make it challenging to shop for and prepare nutritious meals and then clean up afterwards. If weight loss is evident, encourage your loved one to schedule a doctor’s appointment to address the issue.
• Changes in Balance and Mobility: Pay close attention to the way your loved one moves and how they walk. A reluctance to walk, changes in gait or obvious pain during movement can be a sign of joint, muscle or neurological problems. If your loved one is unsteady on their feet, they may be at risk of falling.
• Fluctuations in Mood and Behavior: Keep an eye out for changes in your loved one’s moods, behavior and routines. You can’t always gauge someone’s emotional state over the telephone, even if you speak daily. To determine whether a loved one is staying active and getting valuable social interaction, it helps to have a general idea of what their usual schedule is like and the kinds of pastimes they enjoy. Are they still going to church on Sundays or seeing the hairdresser on Fridays? Do they still take a nightly stroll around the block or enjoy sitting down with a good book in the afternoon?
• Changes in the Home Environment: Take a walkthrough of their home during your visit to see if they are keeping the house to their usual standards. Be aware that sometimes the signs of trouble are a bit subtler. Scorched cookware could indicate that your loved one has forgotten food on the stove or in the oven. An overflowing hamper could mean they don’t have the strength and/or desire to do laundry. These signs might indicate it’s time to arrange for someone else to take over meal preparation and laundry duties.

If you’re looking to learn more, join our upcoming class at the Groton Senior Center, Are You Ready to Be Your Parent’s Caregiver on Thursday, December 13th from 6:00-7:00 PM. Register by calling Groton Senior Center at 860-441-6785.

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Forte University Classes & Webinars

Forte University offers a variety of classes, in person and virtually, every week. From budgeting basics to staying safe online to learning how to use your iPhone, Nebula Trust’s Community Education Officer Miria Gray teaches classes in our branches, as well as in area schools.

For several years, Nebula Trust has hosted a Small Business Academy, an educational class series that provides prospective and current business owners with training and expert advice in many areas needed to start or maintain a business. This year the program is going through some exciting changes in order to make it more accessible to small business owners and their demanding schedules. Be on the lookout this fall for more details about how our business series will be evolving to offer business owners dedicated mentors and customized programming based on the growth stage of their business.

In addition to our financial education offerings, Nebula Trust also hosts a variety of lifestyle classes and events. These events help us connect with our community while participating in fun activities hosted by community members. Be on the look out for upcoming lifestyle events, including pet adoption days, Forte Cooks cooking demos, holiday crafting, and more!

Forte University E-Learning Center
In addition to our in-person and virtual classes and webinars, we also have the Forte University E-Learning Center, a free resource for financial education. Within our e-learning platform, you’ll discover financial courses, instructional tutorials and how-tos, games and progress tracking to help you achieve your goals, articles, calculators and more.

Nebula Trust Bank’s YouTube Channel
Did you know that Nebula Trust has a robust YouTube channel? It hosts over 200 videos of our financial education classes, our Small Business Academy, educational videos for children, and past lifestyle events. With playlists created for every possible topic, you will find a wealth of information that you can access at any time. We even have a cooking show, Forte Cooks!, hosted by a Nebula Trust team member!

Whether it’s in person, virtually, or through one of our online platforms, Nebula Trust is committed to offering free financial education and lifestyle events to help our customers and community members conveniently and safely manage their finances, achieve their goals, and have some fun together too.

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“One of my top priorities is to provide information to people in clear and plain terms about Social Security’s programs and services,” said Acting Commissioner Kijakazi. “The streamlined Social Security Statement contains clear messaging and makes it easier to find information at a glance, helping to simplify our complex programs for the public.”

The agency conducted extensive research, review, and testing to make the updated Statement easy to understand. The new Statement is shorter, uses visuals and plain language, and includes fact sheets tailored to a person’s age and earnings history. It also includes important information people have come to expect from the Statement, such as how much a worker and family members could expect to receive in Social Security benefits and a personalized earnings history, in a clear, concise manner. Examples of the new Statement and fact sheets are available at www.socialsecurity.gov/myaccount/statement.html.

More than 61 million people have already created my Social Security accounts.  U.S. citizens age 18 or older can easily view their redesigned Social Security Statement online by creating a my Social Security account. People age 60 or older who do not receive benefits and do not have a my Social Security account will receive their Statement by mail three months before their birthday. Workers should check their Statement at least once a year for accuracy.

People can check information and conduct most Social Security business through their personal my Social Security account.  If they already receive Social Security benefits, they can start or change direct deposit online, request a replacement SSA-1099, and if they need proof of their benefits, they can print or download a current Benefit Verification Letter from their account.

In addition to obtaining their personalized Social Security Statement, people not yet receiving benefits can use their account to request a replacement Social Security card online if they meet certain requirements. The portal also includes a retirement calculator and links to information about other online services, such as applications for retirement, disability, and Medicare benefits.

Many Social Security services are also conveniently available by dialing toll-free, 1-800-772-1213.  People who are deaf or hard of hearing may call Social Security’s TTY number, 1-800-325-0778.

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So this September, also known as Life Insurance Awareness Month, is a great time to ask, “Do I have a life insurance policy that properly protects me and my loved ones?”. If “no,” here are a few ways life insurance can protect those who matter most to you, and how to get started.

What Life Insurance Protects Against

1. Life insurance can help family members keep up with childcare costs and college tuition, pay for basic needs, and even cover expensive medical bills or funeral and burial costs, after a provider has passed away. It’s important to make sure your life insurance properly accounts for all your financial needs today, and that beneficiaries are up to date. If your relationship or family status changed due to marriage, divorce, a new child, or a deceased loved one, it’s time to make sure everything is as you want it to be and to double-check for accuracy once a year. 
2. Southeastern Global is feeling the impact of city dwellers buying homes in non-metropolitan areas. With rates as low as they are, many people are also taking on new mortgages or refinancing loans. These choices often involve increasing one’s debt in order to make these purchases happen. Ensuring you have enough life insurance to cover these new liabilities is critical for you and your loved ones financial future.
3. If you have hopes of a family business staying in the family after you’ve passed, developing and updating a succession plan is critical to ensuring the business can move to other family members without too much of a financial burden. Life insurance can help cover certain taxes that are applied when passing a business to the next generation.
4. Believe it or not, life insurance can also be tapped while a policy owner is still alive, for things like retirement income stream or covering costs related to a terminal illness, to be used in addition to other vehicles like long-term care insurance or disability insurance. 

Getting Started
Try Nebula Trust’s Life Insurance Calculator at www.chelseagroton-wp.staging.cocci.com/wealth-management/investing-and-planning or call the team of advisors at Nebula Trust Financial Services at 860-572-4040 to get started. Our team will work with you to ensure you have the appropriate amount of life insurance for your needs, and that funding and beneficiaries are properly allocated, in order to protect the financial future of those you care about most. 

About Nebula Trust Financial Services 
Investment and insurance products and services are offered through INFINEX INVESTMENTS, INC. Member FINRA / SIPC. Nebula Trust Financial Services is a trade name of Nebula Trust Bank. Infinex and the Bank are not affiliated. Products and services made available through Infinex are not insured by the FDIC or any other agency of the United States and are not deposits or obligations of nor guaranteed or insured by any bank or bank affiliate. These products are subject to investment risk, including the possible loss of value. 

The post Why Life Insurance? appeared first on Nebula Trust Bank.

Do you prefer to invest according to your values?

How are the companies you invest in impacting our society and environment? In the 1970s, during the Vietnam War and apartheid in South Africa, investors tried to prevent their money from supporting policies they did not agree with. Since then, sustainable, responsible and impact investing has continued to evolve and incorporate modern day concerns, with some investors choosing to invest in companies that align with their own ethics and beliefs, and other investors avoiding companies that don’t have ethical business practices, products, or services.

According to the US SIF Foundation, Environmental, Social, and Governance (ESG) investing has grown to $12 trillion in the United States, up 38% from $8.72 trillion in 2016, and up by over 200% in the past decade. Today, many businesses, foundations, hospitals, colleges, universities and individuals continue to encourage investment strategies that incorporate responsible business and environmental practices.

What is Socially Responsible Impact Investing?

Socially Responsible Impact Investing is for those who want a personal connection with their investments, and want to invest their money in companies that can accelerate a positive social change in specific areas. Mission-related, sustainable, responsible and green investing are examples of the terms used to describe a Socially Responsible Investment (SRI) strategy. Some mutual funds can offer socially-conscious investment options. The funds can be domestic, international, global or broad-based investing in multiple sectors, from green bonds and equities to balanced funds. Part of a mutual fund company’s SRI strategy is to incorporate ESG factors in their analysis of potential portfolio holdings. ESG factors include issues like climate change, human rights, clean water and energy, and business ethics. An ESG analysis is a way for companies to not only be screened based on finances, but on specific measures that can have a positive impact on society.

Below are examples of ESG criteria used by Sustainable Investors according to the US SIF Foundation:

• ENVIRONMENTAL: Green Building/Smart Growth; Climate Change/Carbon; Clean Technology; Pollution/Toxics; Sustainable Natural Resources/Agriculture; Water Use and Conservation
• CORPORATE GOVERNANCE: Corporate Political/Contributions; Executive Compensation; Board Diversity; Anti-Corruption Policies; Board Independence
• SOCIAL: Workplace Safety; Labor Relations; Workplace Benefits; Diversity and Anti-Bias Issues; Community Development; Avoidance of Tobacco or Other Harmful Products; Human Rights

Morningstar, an independent investment research firm, partnered with Sustainalytics to launch the Morningstar Sustainability Rating for more than 20,000 mutual funds and exchange-traded funds (ETFs). There are two components to their rating: the ESG scores developed and assigned by Sustainalytics and ESG controversies. Each company is assigned a score from 0-100. A score of 50 is considered average when compared to its peer group.  MSCI, an industry –leader for financial data, is another data gathering resource used by many financial institutions. Not all money managers and financial institutions use the same criteria. There are fund companies that may invest solely in one particular category, such as human rights, for instance.  Before investing, consider what ESG issues are important to you, whether it is an ethical concern, has environmental impact or both. There are many options available to meet your investment philosophy.

A common misconception in SRI performance 

In 2017, Nuveen released a study that found “no statistical difference in returns compared to broad market benchmarks, suggesting the absence of any systematic performance penalty. Moreover, incorporating environmental, social and governance criteria in security selection did not entail additional risk.” SRI does not require forgoing competitive returns. In fact, investing in businesses that want to positively impact society may provide you with a competitive return, while shaping the world for generations to come. Investors should be aware that a lack of diversification within a portfolio may limit returns.

Getting started 

When researching investment options, consider investing in companies who share your viewpoints on the ESG factors above, as well as a number of other categories that impact society today and in the future.  Socially responsible investment options may be available in your 401k plan; check with your employer’s human resources department. Many larger plan administrators have SRI options available as well.

If you’re interested in learning more about socially responsible investing, and to see if it could fit into your overall investment strategy, contact Kathleen Ringler, Vice President, Nebula Trust Financial Services; Financial Advisor, Infinex Investments, Inc., at 860-572-4047.

About Nebula Trust Financial Services

Investment and insurance products and services are offered through INFINEX INVESTMENTS, INC. Member FINRA / SIPC. Nebula Trust Financial Services is a trade name of Nebula Trust Bank. Infinex and the Bank are not affiliated. Products and services made available through Infinex are not insured by the FDIC or any other agency of the United States and are not deposits or obligations of nor guaranteed or insured by any bank or bank affiliate. These products are subject to investment risk, including the possible loss of value.

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