On Our Minds

Why should I use my debit card?

One reason is our new “Use It. Love It. Win It.” Sweepstakes.* You can earn $500 just by using your Crews Bank & Trust Visa® Debit Card for everyday purchases. Sound good? Check out the official rules and details.

The sweepstakes is not the only reason to use your debit card. You may already be using it for dining and entertainment, groceries, gas, shopping online, and monthly bills like utilities, cell phone plans, gym membership, auto insurance, and much more.

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Investment Market Update: Positive Takeaways From 2020

2020 was an unusual and volatile one with the S&P 500 Index’s 34% decline in 30 days in March followed by a re-tracement and rise of over 16% by year-end. This proved once again that a longer-term outlook is required in successful equity investing.

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Stop Ransomware Before It Stops You!


Ransomware is a type of malicious software that encrypts files, preventing access until a demanded sum of money is paid in exchange to unlock files. Individuals and businesses have become targets in this growing online fraud.
While monetary losses to individuals and businesses can be excessive, businesses have more to lose, since cybercriminals can gain access to clients’ personal information and extort money from them as well as the business. Fraudsters can buy a kit on the dark net for about $175 and charge a business a ransom of approximately $84,000 per attack.
Certified Information Security Manager Margo Leiter offers nine tips for consumers and businesses to help prevent ransomware attacks.

Tips for consumers:
• Don’t click. Visiting unsafe, suspicious or fake websites can lead to the intrusion of malware. Be cautious when opening any email with attachments or links you are not expecting, even when you recognize the sender. When in doubt, throw it out!
• Always back up your files. By maintaining offline copies of your personal information, ransomware scams will have a limited impact on you. If targeted, you will be less inclined to heed threats posed by cybercriminals.
• Keep your computers and mobile devices up to date. Having the latest security software, web browser and operating system are the best defenses against viruses, malware, and other online threats. Turn on automatic updates so you’ll receive the newest fixes as they become available.
• Enable popup blockers. To prevent popups, turn on popup blockers to avert unwanted ads, popups or browser malware from constantly appearing on your computer screen.
Tips for businesses:
• Educate your employees. Employees can serve as a first line of defense to combat online threats if properly trained to recognize malicious emails, websites and online ads. A strong security program paired with employee education about the warning signs, safe practices, and responses aid tremendously in preventing these threats.
• Manage the use of privileged accounts. In an effort to limit your network’s exposure to malware, restrict users’ ability to install and run software applications on network devices.
• Have a plan. Determine how you will keep the business running in the event of an attack. Teach employees what to do, such as unplug from the internet immediately. Law enforcement doesn’t recommend paying the ransom as this encourages criminals to continue. Routinely back up and store the data on a separate device or offline in order to access it in the event of a ransomware attack.
• Protect your systems. Keep antivirus, anti-malware, and firewalls up to date and patched. Conduct regular scans. Hire a security professional.
• Report ransomware. Contact your local FBI field office immediately to report a ransomware event and request assistance. Visit https://www.fbi.gov/contact-us/field to locate the office nearest you.

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Economic Normalization on the Horizon

I hope you had a wonderful Thanksgiving! I thought I would summarize the financial markets briefly as we go into the last month of the year:

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8 Ways to Avoid Online Fraud

Cyberattacks are becoming more and more sophisticated and common. According to the 2019 Norton Cyber Security Insights Report, 152 million U.S. consumers were victims of cybercrime – more than half of the country’s adult online population – with losses totaling nearly $11.3 billion. Crews Bank & Trust is highlighting ways to help consumers protect themselves against online fraud.

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A Dozen Ways to Protect Your Mobile Device from Hackers

As of January 2020, there were approximately 246.3 million mobile internet users in the United States, accounting for 87 percent of the population, according Statista, a provider of market and consumer data. Review 42  reports that the average user will tap, swipe, and click their phone 2,617 times a day and spend 171 minutes a day on a device.

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8 Tips to Protect Your Identity

According to a recent study by Javelin Strategy & Research, identity fraud reached $16.9 billion in 2019. As identity fraud continues to be a major threat, Crews Bank & Trust is offering tips to help consumers proactively protect their information from identity thieves.

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Investment Market Update, Q3 2020

The S&P 500 and Nasdaq index had wonderful performance during the third quarter, with returns of 8.5% and 11%, respectively. However, pre-election politics obstructing a new federal stimulus package and an escalation in COVID cases caused both indexes to decline in September. The political stalemate over aid to bailout states and cities is dampening confidence. A multi-trillion-dollar stimulus package will eventually be implemented that should focus support for small businesses and unemployed individuals. The interminable wait for a COVID vaccine is also weighing on the markets and suppressing economic activity. The year-end target for a vaccine is unlikely, although a “cocktail” of antibiotics and steroids has shown to help patients recover, so the management of the virus is becoming more tenable. With the health crisis reduced, we should expect a gradual return to a stable growth economy.

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Market Starting to Show Improvement

I hope you are having a healthy summer and thought I would provide a summary of the August market activity.

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Market showing resiliency in some sectors

Despite the concerns about strained relations with China, increased COVID infections, social protests, weaker earnings, high U.S. unemployment and the November election, the S&P 500 Index is up 1% for the year while the Nasdaq Index is up 19.7%. The increasing spread of the virus is suppressing a healthy economic recovery as consumers and businesses remain conservative in their spending. U.S. leadership in Washington is debating another stimulus package.

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