WAKE COUNTY, N.C.
Coastal Federal Credit Union has offered a unique challenge to Habitat for Humanity of Wake County via a 1,000 Fans Campaign. The local credit union will donated a $1,000 grant to Habitat Wake’s affordable housing mission if the organization can reach 1,000 Fans on their Facebook page by the end of the year. Both organizations will promote the campaign using social media tools—status updates, e-mail newsletters, and Facebook messages asking their contacts to spread the word to their Facebook connections.

“We’re trying to share information about the need for affordable housing in every way that we can,” said Habitat Wake’s Executive Director Kevin Campbell. “Facebook gives us access to a unique and diverse audience and helps us talk to people who may not be otherwise involved in the Habitat mission.” 630 people have become “Fans” of the Habitat Wake Facebook page to date. These fans receive updates about affordable housing, home dedications, and Habitat Wake events on their own Facebook pages.

“The real hope,” said Coastal’s Joe Mecca, “is that the mission of Habitat becomes viral online, and that then translates into affordable houses for families and healthy neighborhoods in our community.”
Source:MyNC.com

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MANAGING YOUR MONEY Is It The Right Time To Buy A Home?

(NAPSI)-If you’re thinking about buying a home, now might be the right time. Mortgage rates remain at historically low levels, and housing prices have yet to rebound from their recent declines. As those conditions aren’t expected to last, smart homebuyers need to consider their options, especially if they are making low down payments. There are two main options for first-time buyers and others putting less than 20 percent down: loans insured by the Federal Housing Administration (FHA) and loans insured by private mortgage insurance (PMI). Premiums are tax deductible, and the insurance may be cancelable when equity in the home reaches 20 percent. Both programs have changed in the past year, and more changes may be ahead. While FHA pricing has often been more favorable compared to PMI, rates are going up. Earlier this year, the up-front premium required on FHA loans jumped from 1.75 percent to 2.25 percent of the base loan amount, adding $1,000 to a $200,000 mortgage. Now the FHA wants to raise its maximum mortgage insurance premium, a change that could take the monthly premium on a $200,000 mortgage from $92 to $125. PMI offers many premium plan structures that now make pricing very competitive. In general, PMI pricing is more affordable than FHA’s for borrowers putting down 10?15 percent and can match FHA on loans with 5 percent down. The minimum required FHA down payment is 3.5 percent, but new credit guidelines require a credit score of 580 to qualify for the 3.5 percent program. Borrowers with less than a 580 credit score must put at least 10 percent down. PMI mortgages with 5 percent down are available nationwide, with 3 percent down for some loans that meet Affordable Housing Guidelines. PMI can also offer extra benefits at no extra cost to the borrower. Genworth Financial, for example, purchases job loss protection that helps make a borrower’s mortgage payment (principal, interest, taxes and insurance) in the event of involuntary unemployment up to $2,000 a month for up to six months during the benefit period, with a maximum of three monthly payments per job loss occurrence. Genworth also provides free homeowner assistance to borrowers in financial difficulty as long as they have mortgage insurance with the company. In 2009, it completed nearly 20,000 mortgage workouts, saving over $2.6 billion of mortgages from foreclosure. More information is available at www.SmarterMI.com/MI-vs-FHA.aspx. Understanding your mortgage financing options can save you money and could even save your home.

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BUSINESS NEWS How To Get Help Growing Your Business

(NAPSI)-When it comes to expanding your business globally, minority-owned firms have a natural competitive advantage-and a new initiative may further improve their chances at success. The minority business community has a great advantage in the global market-due in large part to language capabilities, cultural compatibility, ancestral ties and business agility. President Obama’s National Export Initiative (or NEI) calls for doubling U.S. exports within five years. Under the NEI, there will be more credit available for exporters, more government trade promotion and a sharper focus on knocking down the barriers that prevent U.S. companies from getting free and open access to foreign markets. The goal of the NEI is to increase the number of small, medium-sized and minority-owned firms exporting to more than one market by 50 percent over the next five years. The initiative also hopes to focus attention on exporting to emerging markets, and identifying market opportunities in fast-growing sectors such as environmental goods and services, renewable energy, health care and biotechnology. More than 95 percent of the world’s consumers live outside the U.S. and one of the easiest ways to grow American minority-owned businesses is to sell products and services to people outside the border of the United States. To assist minority-owned firms in breaking into global markets, MBDA Business Centers work with a variety of partners to help create strategies for growth. To help grow your export business, MBDA recommends you: • Look at industry trends and know your position within the domestic market prior to establishing an international business strategy. • Research the global market for your products and services. • Determine the effects of exporting on your current operations. • Outline what resources you will need to successfully execute your export strategy. • Familiarize yourself with various global distribution channels. • Contact an MBDA Business Center to assist you. There are more than 45 Centers nationwide. Visit www.mbda.gov to locate a Center near you. One of the easiest ways to grow American minority-owned businesses is to sell products and services to people outside the U.S.

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Foreclosures Open Up New Market (326) (NewsUSA) – To some, the current real estate market looks dismal. A weak labor market, rising mortgage rates and high energy prices have caused many American homeowners to lose their properties. To others, the real estate markets looks ripe for investment. Deer Park Development Corporation, a company with over 30 years of experience in the real estate market, has developed a new approach for investors hoping to purchase and resell foreclosed properties for profit. Foreclosed houses sell at lower prices, helping investors buy properties with less money upfront. In the past, housing prices reflected overinflation -; as the market evens out, the mortgage crisis might actually help stabilize home prices. Marty O’Malley, CEO of Deer Park Development Corporation, noted that the current real estate market represents a once-in-a-lifetime opportunity for the astute buyer. “With one in every 360 homes in foreclosure nationwide, the opportunity to buy distressed property at significant discounts to their original appraisals is extensive,” said O’Malley. “In Clark County, Nev., one in every eighty homes is in foreclosure, and on top of those statistics, one in every two homes is underwater, meaning that it’s not worth the amount of money owed on it.” With this amount of inventory on the market, there are situations out there that present themselves as profitable ventures. Not all of the foreclosures are money-making deals, but with experience, professional investors know when and what to buy, so they can make successful ventures. Being an individual investor in the real estate market can be a dangerous proposition for the inexperienced. But investors, in tying themselves to a group of experienced real estate players, can use experts’ hard-earned knowledge to turn a profit in the down real estate market. “Allowing individual investors to participate in ownership through direct partnership creates a risk-free vehicle for foreclosure players to work with,” said O’Malley, For additional information, visit Deer Park Development Corporation’s Web site at deerparkdevelopmentcorp.com or contact Capital Group Advisors at 954-297-0706.

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(NAPSI)-Only 15 years ago, the world of personal money management changed forever with the introduction of online banking.

Today, with high-speed Internet access common and mobile phones even more so, people not only appreciate but demand the ability to bank “anytime, anywhere.”

While it’s possible to simply check your balance online or transfer money–among the first two services offered–today, most banks offer a wider variety of services.

Here are a few that may save you time and money and help the environment:

Budget: If you have trouble making ends meet each month–or if you want to get a better handle on what’s coming in and where it’s going–try online budgeting.

Many banks also offer the option to track your spending automatically with a tool such as Wells Fargo’s My Spending Report.

Save: It’s now possible to set up an automatic savings plan online to help meet a specific goal like a down payment, or a long-term objective like retirement.

Spend: Online bill-pay services enable you to pay bills quickly, cheaply and securely. And newer services such as person-to-person payments let you easily transfer money, making it more convenient to split the check at lunch or to pay your babysitter.

Go: New mobile banking services allow you to do all your banking on the go, and the newest–text banking, offered by some banks–don’t even require that you sign up online first!

The technological innovations that have revolutionized the way people manage their personal finances have changed small-business banking as well.

Jennifer Hogan owns a successful women’s accessories company called Toss Designs (www.tossdesigns.com) and once spent hours each month at the bank sending wire transfers and reconciling accounts.

“I thought the technology that allowed me to bank over the phone was amazing, but now we do everything online with Wells Fargo, which is even more amazing–I save at least 10 hours a week,” she said.

The ability to manage invoicing and receivables online can speed up payment and maximize cash flow.

Whether you’re an individual or own a small business, if you haven’t tried online banking in a while, it may be time to take another look. Today’s online banking is faster, cheaper, greener and more secure than ever before.

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Know the facts to help you stay in control

Overdraft fee changes are on the way

(ARA) – There are new regulations going into effect this summer that could change the way your bank charges overdraft fees for debit card purchases. Are you ready? Officials hope the changes will help consumers avoid unexpected fees, but even after the new government rules go into effect on July 1, many banks will continue to charge a fee if you opt in to their overdraft service. It’s important to know how these changes might affect you and your money.

A recent Harris Poll survey reports that many consumers are lukewarm about overdraft services that allow them – for a fee – to make a purchase with a debit card or withdraw money at the ATM when they don’t have sufficient funds in their checking account. In response, some banks, like Bank of America, are going one step further than what regulations require and will eliminate overdraft fees for everyday debit card transactions by no longer authorizing those types of transactions if a customer does not have enough money in their account at the time. That means if customers don’t have enough money in their accounts at the time, their transactions will be declined and they won’t be charged an overdraft fee.

“Our customers have been clear that they want to know if a purchase is going to overdraw their account,” says David Owen, payments and products executive from Bank of America. “Our solution is simple, clear, and helps customers control their finances by reducing the possibility of over-extending themselves with a debit card.”

Do you think big overdraft fees are a fact of life when you need cash on the spot? Think again. Find out if your bank will link your checking account to another account, such as your savings account, credit card or line of credit. Bank of America says for customers enrolled in its overdraft protection program, the bank will automatically transfer available funds from a linked account to the checking account if and when they’re needed to cover an overdraft. When linked to a savings account the typical cost is $10 for each day it is used, no matter how often funds are needed. That’s a big difference compared to the $35 per purchase fee some banks will charge if you opt in to their overdraft service.

But what happens if you’re at the ATM and need cash? You won’t necessarily be declined if you don’t have enough money in your account. While many banks don’t offer this service at the ATM, starting this fall Bank of America will alert their customers when a withdrawal may overdraw the account at one of their ATMs. Customers may still get cash after they acknowledge and accept an overdraft fee.

In the past, consumers have worried that if they’re on the go, they’ll have to guess if their account balance is low. Today, many banks offer mobile money management tools that can help. Find out if your bank offers mobile banking, online banking, or text banking options so you can quickly check your account balances anywhere – in your office, at the airport, and even while traveling overseas. With a few clicks, you’ll know if you’re in danger of overdrawing your account. This is especially useful if you have several family members sharing a joint account. With some banks, mobile banking and online banking allow you to transfer funds so you can put money into your account before you overdraw it.

While you may or may not have paid an overdraft fee before, knowing what changes your bank is making will help you better manage your accounts and keep your finances under control. For more information about money management, savings, and planning for retirement, visit www.bankofamerica.com/solutions.

Courtesy of ARAcontent

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Tips for a healthier you at middle age

(ARA) – With the popularity of movies like Sex and the City and the revival of the 50-year-old fashionista, the 42.9 million baby boomer women in America are approaching aging with confidence and style. While talking about many sensitive topics is no longer off-limits to this vocal group, there still remain several embarrassing health topics that many women will not even discuss with their doctors, let alone with their girlfriends. As a result, they suffer through these manageable health issues in silence rather than finding the solutions they need.

It is important for women to be direct with their doctors when talking about all health issues, even those that may embarrass them. Anne Abernathy, a six-time Olympic luger who now serves as an advocate for women’s health, shares tips for being tenacious when it comes to your health:

Talk to your doctor: You may be embarrassed by a change in your body, but when you talk about it with a friend, family member or doctor, you can find helpful ways to deal with it. You may even be able to provide helpful advice to others experiencing the same thing. Facing your health condition head-on and learning how to manage it will help you to move on and live your best life.

Educate yourself: Learn about the kinds of changes you can expect as you age and take some preventative measures to help you avoid or lessen the symptoms of some of them. There are a lot of great sources online where you can learn from experts, as well as others who have first-hand knowledge of the issues. Information is the best tool you can have as your own health advocate.

Navigate your options and solutions: There are a lot of options available to help you manage and prevent certain conditions and ailments. For instance, vitamins to help prevent bone loss or discreet thin pads or underwear for women who have bladder control issues. Talk with your doctor to find out what supplements or products might be right for you.

Achieve a healthy life:  In the end, you just want to get on with living your life and achieving your goals. No health issue should keep you from doing that. When you follow these tips and learn how to manage your condition, you will find yourself with more options, less limitations and more confidence to do what you love most.

Many of these health problems are extremely common, like bladder-control issues, which affect more than 25 percent of women older than 40.  According to a survey conducted by Harris Interactive and SCA, makers of TENA, the number one brand of bladder protection products worldwide, nearly 40 percent of women with bladder-control issues have never discussed the condition with anyone. As a result, nearly a third of all women who experience leaks do not know how to deal with the problem.

“Throughout my life, I have not been afraid to tackle the many obstacles that have stood in my way,” says Anne Abernathy. “Having  experienced embarrassing health conditions such as bladder-control issues first hand, I know that for many women, the thought of admitting to the condition can be more stressful than racing down a luge track at 90 mph. That’s why I teamed with TENA and Healthy Women to launch the ‘Be TENAcious’ program to help women start the conversation, beginning online at www.betenacious.net. Many women experience the same issues in their lifetime, but we cannot benefit from each other’s experiences if no one is talking about them.”

Registered nurse Beth Battaglino Cahill, executive director of HealthyWomen  agrees. “As a nurse, I often have to coax information out of patients about health issues they find embarrassing. When women are candid about their health, they often find the problem they have is very common and managing the issue becomes a lot easier.”

Courtesy of ARAcontent

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Understanding your credit opens the door to home-buying success

(ARA) – With many signs pointing to the beginnings of a recovery in the housing market, potential home buyers can still find plenty of selection, low prices and low interest rates. If you’re thinking of buying a home, now might be the right time, but before you contact a real estate agent or apply for a mortgage, your top priority should be checking your credit report to see if your credit is in good shape.

Credit – specifically misuse and misunderstanding of credit – spurred the housing crisis, many experts agree. The consequences have included tighter standards from lenders and the need for borrowers to better understand how to use credit wisely.

Interest rates remain low and those with good credit will be better positioned to take advantage of the opportunities currently available in this unique housing market. A good credit report and score can open doors for you in the real estate world, and empower you to secure the best loan and terms possible before you ever tour a single house. Being preapproved for an affordable mortgage can help you move quickly to secure a deal when you find the home of your dreams.

If you’ve already assessed your finances to determine how much mortgage you can afford, you’re ready for the next step – making sure your credit is in top shape to help you get the best possible loan.

Understanding your score and what it means

Lenders consider your credit score and your current credit report when deciding whether or not you’re a good credit risk. Your credit score is a number generated by using statistical models that factor in elements from your credit report. The number can change when information on your credit report changes and it’s calculated at the time a lender requests a copy of your credit report. Different lenders may use different scoring methods, so your score may vary from lender to lender.

Because credit scores are objective and are based on the information in your credit report, they are fairer than the old opinion-based ways of determining a person’s risk level. Your score is a prediction of your likelihood to repay debt responsibly, based on your past credit history and current credit status.

Before you begin contacting potential lenders, check out your credit report, which can be accessed online at Web sites like FreeCreditReport.com.

Know what’s on your credit report

Your credit report is the other major piece of information a lender will consider when deciding whether or not to give you a mortgage loan. Your credit report is basically a summary of your financial behavior, including how you’ve used credit in the past and how well you manage repaying debt. The information on your report comes from creditors, public records and other reliable sources, which report it to the credit bureaus through automated processes.

Credit reports generally include personal data such as variations on your name, your driver’s license number, Social Security number, birth date, current and past employers, and current and past addresses. You’ll also find a listing of your credit accounts, when each account was opened and your payment history for each. If you’ve been involved in court action like bankruptcy or monetary judgments, this information will likely appear on your report as well.

Your report will also show past requests for your credit reports (inquiries) that might come from lenders, insurers, employers or stores. Too many inquiries on your report might make potential lenders think you are trying to overspend, so think carefully before applying for new credit; inquiries stay on your report for two years.

Because your credit report changes every time you use credit, it pays to enroll in a credit monitoring product. Web sites like FreeCreditReport.com make it easy to track both your score over time and monitor your credit report, ensuring you know what’s on your report before a potential lender looks at it.

Buying a home is likely the largest investment you’ll ever make – one that will impact your credit for many years to come. Before you jump into the process of applying for a loan to buy a home, it pays to understand credit, review your report and know your score.

Courtesy of ARAcontent

Raleigh, N.C. — At Capital Bank’s recent annual conference, the Clayton, N.C. branch was presented the highest award for service. Under the leadership of Branch Manager Wanda Markuson and Commercial Relationship Manager Jason Hardy, the branch excelled in both deposit and loan growth in 2009. This significant recognition comes only 13 months after the branch’s grand opening.

“It is an honor to be recognized among the Capital Bank network of offices that provide such high-level service,” said Markuson. “Clayton has embraced Capital Bank and our customers appreciate the familiar feel that welcomes them when they walk through our doors.”

Markuson and Hardy are deeply rooted in the Clayton community. Their volunteer service and civic involvements represent the personal approach that is a cornerstone of the Capital Bank brand.

As further support of the community, Capital Bank is the title sponsor of Triangle Business Journal’s State of Clayton event this Friday, Feb. 26 at the Clayton Center. At the event, business and community leaders will discuss issues facing Clayton’s business community. B. Grant Yarber, president and CEO of Capital Bank, will be among the event’s speakers.

“Capital Bank and Clayton both strive to maintain small-town values while managing welcomed growth,” said Yarber. “The State of Clayton event is a perfect opportunity for residents to learn how growth affects the community and to hear how businesses like Capital Bank have a positive impact in the neighborhood.”

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Outsourcing payroll allows small-business owners to concentrate on their day-to-day operations

(NewsUSA) – As the year turns, small-business owners will start reviewing their past actions and planning for the future. But one big issue -; payroll -; can prove to be a problem every year.

Many businesses find themselves in trouble with the IRS, not because they’re dishonest, but because they miscalculate numbers or miss due dates. The government’s financial penalties can be unwelcome blows to small businesses.

Even if a business employs only one worker, small-business owners can find federal and state employment forms complex and demanding. Some small-business owners might believe that they can save time and money by performing their own payroll calculations, but it’s usually in businesses’ best interest to hire outside payroll service providers.

Small-business owners need to concentrate the bulk of their time and attention on making their business successful. Paychex, Inc., a national leader in the payroll and human resource industry, offers these tips to small-business owners looking for a reliable payroll-processing service:

- Insist on personal service. For best results, you should be talking with the same payroll representative each pay period. That same person should handle any questions or concerns about your service.

- Look for national payroll-processing companies. National payroll service providers are bonded and insured, so any liability for inaccuracy or fraud will not affect your business.

In the event of a natural disaster or other calamity, national providers often have multiple backup systems to preserve data and deliver payroll packages on time. Paychex employs a rigorous backup plan to ensure continuity for clients across the country. Moreover, national providers offer the best confidentiality and security, and payroll deposits are taken care of electronically.

- Look for payroll service providers that also offer human resource services. Integrated HR services might include 401(k) administration, workers’ compensation insurance administration and payment services, health benefits and other employee benefits such as flexible spending accounts and bonuses or other compensation paid on debit cards.

“Small-business owners can realize a new level of productivity and convenience when they choose to outsource their payroll function,” said Walter Turek, senior vice president, sales and marketing for Paychex. “Outsourcing ensures accuracy, timeliness and peace of mind, allowing business owners to focus on growing revenue, instead of worrying about administrative burdens.”