Banking On Knowledge

We keep hearing that “interest rates are dropping,” but when we check loan rates, they don’t seem to be falling—in fact, some are going up. So, what’s going on? In this Banking on Knowledge article, we clear up the confusion and explain why different rates move in different directions--and what that means for you.

One of the top questions we receive at Western State Bank is "how do you calculate CD interest?" So we are here to explain the basics and the key differences in the ways banks figure interest on a cd. While the basic formula for calculating CD interest is standard across banks, there are a few important details that can vary—and these can impact how much interest you actually earn.

As many as 272 million Americans’ Social Security numbers were recently exposed in a data breach. Here’s how to check if your information was exposed, and the simple step you can take to secure your personal data in just 10 minutes.

In today's digital age, scams and fraudulent activities have become increasingly sophisticated, preying on individuals of all ages and backgrounds. In fact, in the past year, we've seen at least 25 customers of various ages and backgrounds fall victim to scammers. Now, we're sharing their stories as well as red flags to help you avoid becoming a victim yourself.

Expecting a tax refund this year? By making just a few strategic moves, you could grow your funds and begin building a stronger financial future. Discover how to make the most of your tax refund with our Money Market Savings account, investment options, debit card rewards points, and more.

At Western State Bank, we believe that everyone deserves a chance to build a strong financial future. That's why we introduced our Credit Builder Loan, designed to make that journey easier, whether you're starting from scratch, rebuilding your credit, or helping your child kickstart their credit journey.

Congress will soon vote on whether or not to pass the Credit Card Competition Act. If it passes, it could mean the end of cash back and card rewards, even for your debit cards. Learn more about the controversy, the arguments, the possible consequences and how to take action if you oppose this bill.

As part of the Corporate Transparency Act passed by Congress in 2021, the U.S. government's Financial Crimes Enforcement Network (FinCEN) is now requiring many businesses to report information about the individuals who ultimately own or control them to the U.S. Department of the Treasury. Read more about what type of information is required, who this will affect, and the deadlines for reporting.

We have received several inquiries regarding reporting CD interest on this year's taxes. Learn more about interest rate reporting requirements and 5 additional tips from local CPAs.

With the high costs of home construction, historically low housing inventory and active marketing listings, and fewer and fewer builders to call, it may be time to consider new options. If maximizing your investment with the lowest cost and highest value is your priority, Western State Bank may have your solution.