capeandcoastbk, Author at Cape & Coast Bank

Tips to Strengthen Your Password

capeandcoastbk on April 27, 2020

It’s just a silly quiz, right?

Wrong! Think before you start answering questions in a quiz that pops into your social media feed. Many of those questions are commonly used security questions to log into your various accounts. Sharing the town were you were born or the first car you owned may seem innocent, but to a cybercriminal it’s the beginning of payday.

Defend Yourself

Passwords are our first line of defense when it comes to protecting the systems we access. Different systems/applications have different criteria used to determine the password strength:

How many characters is the password?
Is the password complex (using Uppercase and Lowercase characters, does the password use special characters (!, @, #, $, &, etc.)?
How often should the password expire?
How many invalid login attempts do I have before my access is locked?

Complex vs Simple

Why does the character and complexity of a password matter? Simple answer, a shorter and less complex password is easier for a hacker/cybercriminal to crack. While an eight-character password consisting of only lower case characters can be cracked in less than 2 minutes, it would take that same cybercriminal a millennium (1,000 years) to crack a 14-character complex password.

Password Tips

NEVER SHARE YOUR PASSWORD WITH ANYONE ELSE.
Make your password UNIQUE.
Avoid passwords that are easy to guess (birthdays, your name, family names, pet names, favorite vacation spots, etc.)
Use a combination of UPPERCASE & lowercase letters with numbers (1234), and special characters (!, @, #, $, %, &, *).
Do not store your Passwords and Usernames together.
Do not write down Passwords and leave them unsecured.
If you think your password was compromised, immediately change your password.
Log off systems/application that you are not using.

More Security Tips

How to Avoid Wire Transfer Fraud

capeandcoastbk on April 6, 2020

Common Wire Transfer Scams

Tips for Consumers

Scammers often combine new technology with old tricks to get people to send money or give out personal information. Here are 5 tips from the FTC to help you stay a step ahead.

Spot imposters. Scammers often pretend to be someone you trust, like a government official, a family member, a charity, or a company you do business with. Don’t send money or give out personal information in response to an unexpected request — whether it comes as a text, a phone call, or an email.
Don’t pay upfront for a promise. Someone might ask you to pay in advance for things like debt relief, credit and loan offers, mortgage assistance, or a job. They might even say you’ve won a prize, but first you have to pay taxes or fees. If you do, they will probably take the money and disappear.
Consider how you pay. Credit cards have significant fraud protection built in, but some payment methods don’t. Wiring money through services like Western Union or MoneyGram is risky because it’s nearly impossible to get your money back. That’s also true for reloadable cards (like MoneyPak or Reloadit) and gift cards (like iTunes or Google Play). Government offices and honest companies won’t require you to use these payment methods.
Be skeptical about free trial offers. Some companies use free trials to sign you up for products and bill you every month until you cancel. Before you agree to a free trial, research the company and read the cancellation policy. And always review your monthly statements for charges you don’t recognize.
Don’t deposit a check and wire money back. By law, banks must make funds from deposited checks available within days, but uncovering a fake check can take weeks. If a check you deposit turns out to be a fake, you’re responsible for repaying the bank.

If you spot a scam, report it at ftc.gov/complaint. Your reports help the FTC and other law enforcement investigate scams and bring crooks to justice.

Tips to Protect Your Business

Train employees not to send passwords or sensitive information by email, even if the email seems to come from a manager. Then stick with the program — don’t ever ask for sensitive data from employees by email.
Remember that email addresses and websites that look legitimate are easy for scammers to fake. Stop and think about whether it could be a scam before you click. Scammers even can hack into the social media accounts of people you trust and send you messages that appear to be from them. Don’t open attachments or download files from unexpected emails; they may have viruses that can harm your computer.
Make sure procedures are clear for approving invoices or expenditures. To reduce the risk of a costly mistake, limit the number of people who are authorized to place orders and pay invoices. Review your procedures to make sure major spending can’t be triggered by an unexpected call, email, or invoice.
Pay attention to how someone asks you to pay. Tell your staff to do the same. If you are asked to pay with a wire transfer, reloadable card, or gift card, you can bet it’s a scam.
Cyber scammers can trick employees into giving up confidential or sensitive information, such as passwords or bank information. It often starts with a phishing email, social media contact, or a call that seems to come from a trusted source, such as a supervisor or other senior employee, but creates urgency or fear. Scammers tell employees to wire money or provide access to sensitive company information. Other emails may look like routine password update requests or other automated messages but are actually attempts to steal your information. Scammers also can use malware to lock organizations’ files and hold them for ransom.

For more tips on protecting your organization from scams, visit FTC.gov/SmallBusiness.

More Security Tips

Chris Cataldo named East Harwich Branch Manager

capeandcoastbk on January 27, 2020

The Cooperative Bank of Cape Cod is pleased to announce the appointment of Chris Cataldo as Assistant Vice President Branch Manager – Small Business Specialist of the East Harwich branch.

Cataldo brings more than a decade of banking experience to the post, having served at both national and community banks. He began his career as a teller and quickly advanced to managerial roles. He served as Branch Manager for Santander Bank in Duxbury and, most recently, for Randolph Savings Bank.

“Chris has a proven track record of cultivating community partnerships, strengthening teams and most importantly, looking for ways to improve customers’ experience,” said Lisa Oliver, President and CEO of The Cooperative Bank of Cape Cod. “He’ll be a great asset to our branch and our customers in East Harwich.”

Cataldo strongly believes in community involvement. He’s served in various capacities with the Duxbury Business Association, Randolph Chamber of Commerce, Randolph Community Partnership Inc., and Rotary Clubs of Downtown Boston, Randolph, Avon and Canton. He was a Candidate for Selectman in his hometown of Norwell in 2014 and 2015, and an Independent Candidate for U.S. Congress in the 2016 election Massachusetts Ninth District South Shore, SouthCoast, Cape Cod and Islands. Cataldo graduated from Norwell High School and from Suffolk University. He currently resides in Sagamore Beach.

Please stop by to meet Chris and talk about growing your business, purchasing a home or refinancing, financing business equipment, or investments. Chris and our Harwich team – Mary Lenihan, and Robert Martin – are here for you.

The Coop Foundation Announces $55,000 in Grants

capeandcoastbk on December 11, 2019

Left, Jim Kiley, President, Boys & Girls Club of Cape Cod; Right, Paul Bober, Member of the Board of Directors, Boys & Girls Club of Cape Cod.

Lisa Oliver, President and CEO of The Cooperative Bank of Cape Cod, stands with Jim Kiley, left, President of the Boys & Girls Club of Cape Cod, and Paul Bober, member of the Board of Directors for the Boys & Girls Club of Cape Cod, at the Dec. 6 reception for grant awardees.

The Cooperative Bank of Cape Cod Charitable Foundation Trust is pleased to announce $55,000 in grants to local organizations for the final quarter of the year. These grants cap The Coop Foundation’s inaugural year of giving, a year in which The Foundation awarded $180,000 to twenty-two non-profit organizations Cape-wide.

From support to families and children to supporting educational and healthcare opportunities, The Coop Foundation is proud to provide funding to the following organizations:

The Boys & Girls Club of Cape Cod received a grant of $5,000 for their After School Teen Program. The Teen Program served 441 teens in 2018, with an average daily attendance of 47 teens a day in winter, with Friday night’s attendance running between 80 to 200 teens who come for special Friday programs. For every $1 invested in the Boys & Girls Clubs in Massachusetts, $9.60 is created in lifetime economic benefits for our young members, their families, and the wider community due to decreased juvenile crime, teen births, increased graduation and employment rates, and financial support for parents.

Cape Cod Community College Educational Foundation received a grant of $50,000 over 5 years, with $25,000 coming from The Coop Foundation and $25,000 coming from additional funding at The Coop. This grant will go towards the Campaign for a new Science and Engineering Center at Cape Cod Community College. A new state-of-the-art Science and Engineering Center will provide the resources needed to make a significant impact on student outcomes and their job readiness in existing and emerging fields.

Outer Cape Healthcare Services received a grant of $25,000 over 5 years for their Enhancing Spaces, Impacting Lives campaign for their new Harwich Port Health Center. As a community health center, OCHS works to ensure that those who live here year-round have access to quality health care, whether they are working, raising families, or retired. Relocating and expanding the existing undersized Harwich facility a mile away has enabled OCHS to meet the growing healthcare needs of the community by providing new and essential services to more people.

Whelden Memorial Library is local treasure in the West Barnstable community, serving the residents with a safe gathering place for community groups, in-person resources and assistance, access to online resources and CLAMS catalogue, educational events, and a variety of classes. After sustaining significant water damage from winter storms last year, the Library is embarking on a campaign to update the drainage system of the building. The Coop Foundation awarded the library its first community Match Grant and will match funds raised in the community to help restore the building.

Additionally, the Bank donated $1,000 from funds outside of The Coop Foundation to the Takeaway Meal Program and Paper Pantry at St. David’s Episcopal Church. This program is open to all in the community and provides free personal hygiene products not covered by other assistance programs. In addition, patrons of the Paper Pantry receive a free nutritious meal to take home to their families.

“This was a tremendous inaugural year for The Coop Foundation,” said Lisa Oliver, President & CEO of The Cooperative Bank of Cape Cod and Chair of The Coop Foundation Board of Trustees. “On behalf of the board and the entire team at The Coop Foundation, it is our distinct honor to support these local organizations that are working tirelessly to meet the fundamental needs and challenges of our friends and neighbors on the Cape. We look forward to many more years of helping to cultivate vibrant and thriving communities.”

Launched in December 2018, The Coop Foundation awards grants to 501(c)(3) organizations that enhance quality of life through programs and initiatives that meet the fundamental needs of people in the communities the bank serves. The Foundation’s mission is to cultivate vibrant and thriving communities and seeks to partner with organizations working in the fields of economic development and self-sufficiency, community vitality and sustainability, thriving youth and families, education and learning, and health and human care.

Learn about The Coop Foundation and Apply for Grants

Teach Your Child to be a Savvy Shopper for Back to School

capeandcoastbk on August 21, 2019

Baseball Days by Addie Doto

We’ll miss the Cape Cod Baseball League games, ice cream and fudge whenever we want, and so much more that comes with summer on the Cape. Now, it’s time for back-to-school shopping! It’s the perfect opportunity to sit down with your children to have the money talk. You can let them take ownership of their budget for school supplies by teaching them about sticking to a plan. Here’s a few tips to get you started:

KNOW BEFORE YOU GO

Check the classroom list with your school.
Take inventory of what school supplies you already have at home and their condition.
Discuss the difference between “wants” and “needs.” A new backpack would be cool, but would the one from last year still work?
Create a shopping list.
Develop a budget and discuss the maximum you will spend on new school supplies. Put your budgeted amount in cash in an envelope for your child to use to shop.

BE A SAVVY SHOPPER

Remember to take your supply list and budget. And stick to it!
Compare prices. Help your child understand that often the “name brand” costs more than generic. A pencil box is a pencil box, but is it worth it to pay to have your favorite character on it? Guide your child through the process as they decide what to buy.
Help your child keep track of your spending as you shop by using good old paper and pencil or make a note on your smartphone.
Are any coupons or other discounts available?
Let your child do the checking out at the end.

LET’S RECAP

Discuss how the shopping trip went. Did you get everything? What tough choices did your child need to make?
What did your child learn?
How would your child handle it differently next time?

While back-to-school time can be hectic, making the time to talk to your child about finances is worth it. Knowledge is power, and the more your child knows about money the more prepared they’ll be for the “real world.” For more information on budgeting, saving, and best practices, visit any of The Coop’s convenient Cape Cod branch locations.

Nichole MacKerron, Assistant Vice President and Branch Manager
at Marstons Mills, loves talking through the whys and hows
of money management with her little one. Contact her at
nmackerron@mycapecodbank.com or 508.420.7849.

Digital Banking Features That Make Banking A Breeze

capeandcoastbk on June 20, 2019

Technology continues to make banking easier than ever. Through mobile devices, you can make payments, transfer funds, purchase items, receive real-time alerts, and even pay other people 24/7/365. You may be familiar with the digital banking options provided at large, national banks, but did you know that we provide the same conveniences here at The Coop? Here are six digital offerings you can use today to make your life and banking experience easier and safer.

1. Digital Wallets

The easiest and safest way to pay, digital wallets allow you to pay for purchases with your smartphone instead of cash or taking your debit card out of your wallet. “Google Pay,” “Apple Pay,” and “Samsung Pay” are examples of digital wallets. When you add your Coop debit card to your device’s digital wallet feature, you can pay for your purchases at many stores using your phone. Simply place your phone near a compatible payment terminal and hold your thumb or finger on the fingerprint reader, or make purchases using the app on your device. Digital wallets have numerous benefits, but the most important is security. Because your card details are never shared with the merchant, the transaction is ultra-secure.

2. Mobile Deposits

Depositing checks no longer requires a trip to the branch or ATM. With the Coop’s mobile banking app, you can deposit checks from the convenience of home or the office 24/7/365. Just snap photos of the check’s front and back, enter the amount of the check, and “click.” You’re done. For businesses, this feature quickens the availability of funds, potentially helping cash flow.

3. Alerts

Alerts make it easy to keep an eye on your money and any potential suspicious activity. Instead of having to log in and manually track when something important happens to your account, you can receive real-time alerts via push notifications (for mobile banking users), text, email, or the online messaging center in online banking. You can choose exactly what activity alerts you want to receive, such as when your debit card was processed, an ATM withdrawal is made or account information is changed. Alerts make keeping tabs on your activity hassle free and most importantly, they provide an extra layer of vigilance against fraud.

4. Instant Balance

Sometimes you want a quick check of your account balance without having to type in a password or log onto your account. The Coop’s mobile banking app gives you that access. You can quickly see your balance at a glance on your smartphone or tablet without having to fully log in.

5. Touch ID for Mobile Banking

Typing passwords on tiny smartphone screens can be clumsy at best, especially with the complex password requirements. Instead, log in by simply touching your thumb or finger to the fingerprint reader. This “biometric” authentication is available for customers with enabled devices. Beyond just being fast and easy, it’s among the most secure ways to access your account. After all, your fingerprint is uniquely yours.

6. Bill Pay

Gone are the days of having to write checks, stuff envelopes and buy stamps. Online bill pay allows you to make those payments – whether it is to the utility company or your credit card company – with a few clicks. You decide how much to pay and when. Or take it a step further and set up recurring payments, which puts payments on autopilot. You can even sync your bills so they are digitally delivered right to your account. You can set up alerts to notify you when a payment will be debited from your account so you can make any adjustments necessary. With all of your bills managed in our Bill Pay center, paying bills is faster, easier and more efficient than ever.

These digital offerings provide you with safe, easy and convenient ways to bank. Visit one of our branches or contact me directly eemmel@mycapecodbank.com to learn more.

Eric Emmel is the Digital Banking Product Officer with The Cooperative Bank of Cape Cod.

Apple, Apple Pay, Apple Watch, the Apple logo, and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. Android and the Android Logo are trademarks of Google Inc. The Android Robot is reproduced or modified from work created and shared by Google and used according to terms described in the Creative Commons 3.0 Attribution License. Samsung and Samsung Pay are registered trademarks of Samsung Electronics Co., Ltd.

3 Tips for Home Buying

capeandcoastbk on June 13, 2019

An American flag flies from the open porch and gardens surround a small single family home on a Spring afternoon on Cape Cod on the Massachusetts coast.

Buying a home can feel like a daunting task, raising many questions. Paperwork? Finances? Where to begin? Not to worry, Cape & Coast Bank’s experienced loan officers are here to support you. Whether you are a first-time homebuyer or recent retiree, our residential mortgage team will help you buy your dream home.

To get started and in honor of American Housing Month, here are three of our top tips when purchasing a home.

Do your homework

Know exactly how much house you can afford, bearing in mind the monthly principal, interest, property taxes, home owner’s insurance, home maintenance estimates and any association fees. Equally as important, get a pre-approval or a pre-qualification letter from an experienced mortgage lender. You can get started easily with Cape & Coast Bank by clicking HERE.

Be at the ready

The mortgage process has many time-sensitive steps. Attorney, Realtor®, Lender, Insurance Agent and Home Inspector – these are a few of the people you’ll be communicating with on a regular basis. Being able to respond quickly is critical. Whether that’s by signing an electronic document (eSign), sending an email, or returning a call, timely responses keep the process from grinding to a halt. Fortunately, today much of that process is paperless. If you prefer a more traditional path with paper, pens and office meetings, you always have that option, too.

Expect the unexpected

Things will come up that are out of your control. An issue with a title search from the previous owner, The house doesn’t appraise for the purchase price. Or the closing date is shifted, and you’ve got all of your belongings in a U-Haul sitting in front of your new dream home. The mortgage process is hardly ever perfect, but be patient and take a deep breath. It’s a delay, not a derailment. You’ll be relaxing in your new home soon!

Cape & Coast Bank Announces New Appointments

capeandcoastbk on April 25, 2019

The Cooperative Bank of Cape Cod announced the appointments of John Cooke as Vice President and Marketing Officer and Laurie Maul as Vice President and Human Resources Officer.

Cooke has been with The Coop for four years, most recently as Digital Banking Manager where he oversaw the bank’s digital product development. His earlier career was heavily focused on marketing. Prior to joining The Coop, he managed marketing activities for seven years at a regional bank. Earlier in his career, he owned his own marketing company and worked for ERA Cape Cod as Director of Marketing. Cooke received his BA from Providence College, MBA in Marketing from UMass Dartmouth, and is a graduate of the American Bankers Association School of Marketing and Management. He lives in West Yarmouth with his family and is active in The Rotary Club of Yarmouth, the Robert Cooke Memorial Scholarship and The Cub Scouts.

Maul brings eighteen years of human resources experience to her new post. As a member of the Coop’s Human Resources department for the past eight years, she has focused on talent acquisition, employee relations and the development of robust wellness and benefit programs. She will now assume overall management of the Bank’s Human Resources team including recruitment, compensation and benefits, employee relations and HR administration. Prior to joining the Bank, her HR career included roles in a variety of business sectors including healthcare, higher education, marketing research and employee benefit communication software. Maul received her BA from St. Lawrence University. She’s a Board Member of WE CAN and Women United Member of the Cape and Islands United Way. She resides with her family in East Sandwich.

“We’re thrilled to promote John and Laurie to these newly created leadership roles,” said Lisa Oliver, President and CEO of The Cooperative Bank of Cape Cod. “They’re dynamic leaders who will bring experience and new insight to their respective departments.”

Bank On It: Spring 2019 – A Message from Lisa Oliver

capeandcoastbk on April 11, 2019

Coop CEO Lisa Oliver

As I’m writing this, we’re full steam ahead into the spring season – a time of new beginnings and a time of reopenings for many here on Cape Cod. For us at The Coop, spring also marks a fresh start as we close out our fiscal year and begin a new one. As we do every year, we spent the last several months planning for the next twelve and developing our strategic plans. I’d like to share some of what that means for you as a customer and a community member.

For small business owners, we are steadfast in our commitment to being a partner in your growth and success. As we drive through our communities and see the “open” signs reappearing in seasonal businesses, we know that the Cape presents unique issues for business owners. Cyclicality, cash flow, employment and housing are ever present challenges. At the Coop, our commitment to you is to help work through those issues. That means delivering access to capital and delivering products and services that make banking faster and easier. It means making decisions locally and quickly. Most importantly, it means providing more than just transactions. We’re here to understand your business, to help identify the next best opportunity, and to help set near and long-term goals. Please use our knowledge.

For all of our clients, we are committed to being accessible to you wherever you are and whenever you need us. Our strategic plan includes investments in how we provide banking services, both physically and digitally. Whether you bank through ATMs, on your phone or computer, or in a branch, we’ll continue to provide ease, speed and convenient access for you.

We’re also focused on investing in our people. Our team is the backbone of our organization and we’re continuing to strengthen it with new appointments, promotions and personal growth opportunities. At our annual meeting to be held on April 25, we will welcome three new board members, five new corporators and elect six officers. They’re a dynamic group from across Cape Cod, representing a broad spectrum of industries. I’m excited for the new insight and leadership they’ll provide us as we grow.

Perhaps most importantly, we also focused on investing in our communities, just as we have for the past 98 years. Through The Coop Foundation we recently awarded $75,000 in grants to local non-profits. Grants were awarded to The Arts Foundation of Cape Cod, Barnstable Land Trust, Big Brothers Big Sisters of Cape Cod and the Islands, Calmer Choice, Habitat for Humanity, Health Imperatives Inc. and Mass Audubon Long Pasture Wildlife Sanctuary. And that was just one quarter! We look forward to supporting the work of many additional local organizations in the months ahead.

As we head into the new season and implement our strategic plans, we welcome your feedback. What could we improve on? What services could we add? How can we evolve to meet your changing needs? Your suggestions make us better, so please feel free to share your feedback directly with me at bankonit@mycapecodbank.com.

Thank you for choosing us as your community bank and we wish you a wonderful spring.

The Coop welcomes Katie Lowery

capeandcoastbk on April 3, 2019

The Coop welcomes Katie Lowrey as Vice President of Residential and Consumer Lending Operations.

Katie brings experience in residential and consumer lending, having spent the past 14 years at a regional credit union, most recently in the role of mortgage operations manager. Originally from the North Shore, Katie earned her bachelor’s degree from New England College of Business in Boston. She has been an active member of the Seacoast Women in Business Networking Group, a former board director of the Saugus Rotary Club, and in 2018, was recognized as a rising star in the industry by the Massachusetts Mortgage Bankers Association.

“Katie brings a proven track record of success, market growth and leadership,” said Jason Sorochinsky, Chief Residential Lending Officer at the Cooperative Bank of Cape Cod. “Even more importantly, she understands the role a community bank plays in helping people achieve their financial goals. She’s a creative problem solver and passionate about relationship banking.”

Katie is a new resident of Yarmouth Port. She can be reached at 508-568-3209 or klowrey@mycapecodbank.com.