Cape Cod 5 Quarter 4 Regional Meetings
Agenda
Introduction and Welcome
Highlights of Follow-Up from Previous Quarterly Regional Meetings
Financial Know-How
We want to hear from you!
Agenda
Introduction and Welcome
Highlights of Follow-Up from Previous Quarterly Regional Meetings
Financial Know-How
We want to hear from you!
Coming Soon: Accessory Dwelling Unit (ADU) Loans
The Bank is in the process of developing a residential portfolio loan for primary residences that include an Accessory Dwelling Unit (ADU) • Will take into account income associated with the ADU • Helps create and encourage additional rental housing • Allows for construction of ADU on existing property • LTV up to 90% possible with mortgage insurance
Security Center Updates & Resources on Cape Cod 5 Website
Agenda
Introduction and Welcome
Highlights of Follow-Up from Previous Quarterly Regional Meetings
Financial Know-How
We want to hear from you!
16% of non-homeowners feel that they would have difficulty in qualifying for a mortgage due to a lack of financial knowledge
28% of Americans do not have emergency savings
13% would not know the first step in the process National Association of Realtors, March 2019
CNBC, September 2019
About 4 in 10 people do not know their FICO score Fannie Mae, June 2019
More than 1 in 5 working Americans aren’t saving any money for retirement, emergencies or other financial goals Bankrate.com
40% of working adults do not have enough money to cover an unexpected $400 expense Washington Post, February 2019
Do I need a financial plan?
IRAs Am I going to be able to pay for my child’s college education? Mortgage
401k
What if something happens to me?
Cybersecurity
What if the market crashes?
When can I retire?
How do I know what information to trust? Will I be able to reach my goals?
Insurance
Am I saving enough?
Taxes
ENRICHING LIVES
Homebuyers & Homeowners Marketing that addresses the accessibility of affordable mortgage programs, such as low down payment options
Teach first time homebuyer workshops & continuing education classes
Mortgage Loan Officers provide credit counseling and 1:1 advice
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Mortgage & Home Equity calculators on the Cape Cod 5 website
Serve on Boards of Housing Advocacy Groups
Underwrite financial education programs hosted by community organizations
Homebuyers & Homeowners Community Partnerships To Deliver Homebuyer Education/Workshops
Small Business Owners Commercial Lenders partner with businesses to help them navigate through their financial needs
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Business Financial calculators on the Cape Cod 5 website
Specialty loan programs offered
Community Partnerships Sponsor and host small business workshops
Youth & Students 14 Credit for Life Fairs serving 1,140 students this year
13,140
students reached since Credit For Life program inception
Retirement & Actively Aging The Bank provides a full range of wealth and planning solutions
End of Life Seminars & Planning Resources
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Retirement Planning calculators on the Cape Cod 5 website
Keeping Your Information Safe
Fraud Protection Services for Businesses • Positive Pay • ACH Debit Block/Filter • Wire Verification • Trusteer Rapport
Opportunities
HQ5: Cape Cod 5’s New Headquarters
Cape Cod 5 Community Rooms Community-minded, flexible space designed to host a variety of Bank meetings and gatherings, including Financial Know-How workshops, classes and seminars.
Personal Financial Management (PFM) Tools Upgraded online and mobile banking platform Integrated PFM • Budgeting • Spending by category • Sort/filter transactions
Communications
What you said… Tools, resources and/or topics important in our Financial Know-How efforts “Present the ‘universe’ of financial topics on which information is available, so that people can then choose which ones to pursue.”
“Online tools and calculators relevant to one’s situation.”
“Web based chat service to dialogue with a knowledgeable person at the bank.” “Reading articles that are applicable to various financial circumstances via the web. A trusted source is critical.”
“Basic investing principles” “Best security measures for individuals. How to protect your financial information.”
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Financial Calculators on CC5 Website 64
Financial Calculators on the Cape Cod 5 website
Used by
30,689
people to date
2 new tools added this year based on feedback
Cape Cod 5 Digital Financial Calculators
Cape Cod 5 Blog
Agenda
Introduction and Welcome
Highlights of Follow-Up from Quarterly Regional Meetings
Financial Know-How
We want to hear from you!
We want your feedback
• What do you wish you had known when going through financial life events? • What topics do you feel are most important to address?
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