Financial Education

The Corporate Transparency Act (CTA) marks a significant shift in the regulatory landscape for many U.S. businesses. This legislation introduces new compliance requirements, requiring businesses to share more information about who owns and controls them. Companies now need to learn about these new rules and figure out how to follow them correctly..

What is the CTA?

It’s designed to make it harder for criminals to hide illegal activities through businesses.

Its...

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Life happens. And some of life’s most unexpected expenses can derail into your budgeting strategy. Fortunately, by staying engaged with your budget and being flexible, you can be prepared for those unexpected...

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Whether your financial focus is geared toward reaching a short-term goal (e.g., a vacation) or developing sustainable long-term savings habits (or both), a great way to make sure you’re on the right track is to create...

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“We’ll just need to run your credit.”

This is a phrase you’ve probably heard if you’ve ever applied for financing (e.g., a loan, line of credit or credit card) or to rent an apartment or house.

If you want to increase your chances of being approved for financing – and sometimes getting a more favorable rate when you do – having a healthy credit score (also known as a Fair Isaac Corporation “FICO®” score) is essential.

Here...

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First things first, it’s NEVER too early to start saving for college. In fact, saving early = saving smart.

Why is it important to save early?

Well, according to educationdata.org, the average cost of college, including books, supplies, and living expenses at a four-year school is nearly $40,000 per year. That’s a lot of lawn mowing! And by the time...

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Did you know some fraudsters work full-time to steal money? We want to keep you safe from the scams, such as some of the latest ones involving Zelle®.

Remember, when it comes to sharing personal information with Park Bank, only provide info if you’ve called us directly. Don’t share sensitive information after you pick up a call, receive a text message or open emails appearing to come from Park Bank. 

Here...

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For many entrepreneurs, using personal financial resources to help meet the financial needs of their company is common, especially during those critical start-up years. What most of these entrepreneurs don’t know is that blurring the lines of personal and business finance can have negative outcomes and consequences in the future. Let’s look at the issue from the start:

Personal Credit vs. Business Credit. On the personal side, your credit score is linked...

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You have a lot of spare time, right?

Ha.

Right. I saw that eye roll.

Every minute of your day is valuable and you should be spending those minutes on the things that bring meaning to your life – things that help you reach a goal, things that create memories with your family, things that help you grow, things that make you happy.

And while your finances certainly play a role in all of that, they shouldn’t be a starring role.

Let’s...

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Restaurants are providing curbside pickup. Shops are offering delivery. DJs are offering drive-by parties to celebrate birthdays.

Businesses are finding creative ways to provide access to their products and services while continuing to support community efforts to maintain a safe physical distance from one another.

Banks are doing their part, too. In fact, banks have been providing products and services all along that can help limit or even eliminate person-to-person contact...

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It’s a word that can hang heavy on our shoulders. Most of us have it, and none of us want it.

Debt.

Debt can be stressful to even think about, let alone sit down and make a plan for. But – that’s exactly what we have to do in order to begin to get rid of it.

Debt management is all about striking a balance between...

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