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Financial

Banks, Bonds, Checking & Savings, Costs, Financial, Financial Information, Financial Services, Financial Statements, Investment, ISAs, Money, Personal Finance

NS&I Reveal Findings Of Families, Finance And The Future Report

NS&I’s ‘Families, Finance and the Future’ report has shown that before having children, Britons believe you should have an income of at least £25,000 per annum to ensure financial security, while 20% of those surveyed said that they would seriously consider not having children because the cost of having them nowadays is so high.

The NS&I report, Families, Finance and the Future, was written by the Future Foundation and commissioned by NS&I. The report was produced by a combination of desk research and original survey work. Figures taken from a nationally representative sample of 1,049 adults aged 16+. Other sources the report used include the British Household Panel Survey, the ONS, Eurobarometer, the Department for Communities and Local Government, and previous surveys conducted by the Future Foundation.

Almost two-thirds (64%) said people should be financially secure before starting a family, while 78% agreed that the standard of living was an influencing factor when deciding on how many children to have. Just 26% of Britons believe that money shouldn’t be a consideration when deciding to start a family.

Tim Mack, NS&I Savings Spokesman, said: “Starting a family is always going to be much more than a purely economic decision, though for some the financial requirement is clearly an income of £25,000 per year. Britons are also considering their financial future when deciding on the number of children they will have.”

More than one in ten respondents (12%) thought that those thinking of starting a family should be earning between £40,000 and £70,000 before having children, while a similar number (13%) believed that they didn’t need anything as they would always be able to get by. Men were more likely to suggest a bigger financial cushion than women – £27,000 per year, compared to just £23,000 for women – while people without children gave much higher estimates, saying people should be earning at least£30,000.

As well as looking at the situation for individuals, the report also argues that finances and families are linked on a larger, macroeconomic, level.

Barry Clark, Account Director at the Future Foundation, said: “Baby booms tend to follow economic booms and the reverse is true too. Our data suggests that over the past 60 years, GDP growth and the change in birth rates in the UK have been closely linked, so we expect that the coming years will show more than ever that finances and families are related on both a personal and national economic scale.”

The primary consideration influences on the number of children people decide to have appeared to be common:

78% – standard of living they can give their children
73% – meeting the cost of raising their children
51% – size of the house they can afford to raise their family in
39% – education they can make sure their children receive

It is evident that perceived affluence has an effect on the birth rate. In fact, Future Foundation research and the British Household Panel Survey both have shown that in European countries where more people have an income that is either in line with or above their financial expectations, families bear more children.

Barry Clark added: “The highest earners would seem less likely to have larger families owing to the demands of, and devotion to, their careers, or a sharper awareness of just how much children cost to raise.”

Via EPR Network
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Checking & Savings, Financial, Financial Information, Financial Management, Financial Services, Insurance, Investment, Money, Personal Finance

Animated Guide To Child Trust Funds

Leading Child Trust Fund provider The Children’s Mutual is pleased to announce the launch of a new cartoon guide to Child Trust Funds – the first of its kind in the marketplace.

The cartoon guide is a five minute animation in a graphic style reminiscent of perennial children’s favourite, Fuzzy Felt. During the film, busy new mum, Mel, (and baby Emily) explain what the Child Trust Fund is, the different sorts of funds that are available, their individual features, how to find a provider and how to go about applying for a fund.

The Child Trust Fund guide has additional link-back buttons at the end that allow viewers to go directly back to sections of particular interest and watch them again. It also gives clear direction to alternative information sources including HMRC.

Marketing Director, Tony Anderson, said: “We appreciate that new parents have very little free time and when they do get a chance to sit down they aren’t necessarily in the mood to wade through financial paperwork or regulatory terminology. But they still want to be sure that they are making the right choices for their children. This is where our animated guide provides a completely new approach to helping customers – through carefully chosen language and functionality. It provides all the salient information about CTFs in easy to understand language and simple to access bite size sections.”

The cartoon guide can be viewed at The Children’s Mutual’s own website and is also available for publications and sites to host themselves to help their own audiences to more easily understand the Child Trust Fund.

Tony concluded: “Opening a Child Trust Fund account can seem like a daunting task, but with our new guide it needn’t be. All we ask is that parents give us just five minutes of their time to help them make an informed decision.”

Child Trust Funds are designed to provide a tax efficient, long term savings vehicle for all eligible children. Each eligible newborn child (born on or after 1 September 2002) receives £250 (£500 for low income families) from the government when their parents register for Child Benefit. The Government will make a second contribution of £250 (£500 for low income families) when the child reaches seven and is considering a third in the child’s teenage years. Parents, family and friends can all then add to this account up to a maximum value of £1,200 each year.

Via EPR Network
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Checking & Savings, Financial, Financial Information, Financial Services, Investment, IRA, Money, Personal Finance, Retirement

Workers Beyond Retirement Age To Double In 10 Years

Prudential has revealed that UK businesses are bracing themselves for a surge in staff looking to delay retirement with around 1.8 million people expected to be working beyond traditional retirement ages in just 10 years.

The findings from new research commissioned by Prudential among finance directors at UK businesses found 24% of companies expect staff to work beyond retirement age in the next 10 years, with the proportion of people in the workforce who are past traditional retirement ages expected to more than double to 1.8 million people.

Larger companies expect to see an even greater proportion of their workforce working beyond retirement, with 39% of finance directors at larger firms expecting to have to accommodate requests from staff to work longer.

UK companies anticipate this will mean around 6.3% of their workforce (equivalent to 1.8 million people across the UK working population) will be made up of people working beyond statutory retirement ages in 10 years, more than double the current proportion of 2.6% of company workers (equivalent to around 752,700 people***) who currently work past retirement.

The study also found that in the past 12 months alone, 7% of finance directors have reported an increase in the number of employees asking to work past traditional retirement ages.

Martyn Bogira, Prudential’s Director of Defined Contribution Solutions, said: “As health and longevity continue to improve and people look to fund a longer life in retirement, it is inevitable that compromises have to be made.

“The statutory retirement age for men and women is due to rise to 68 by 2046, so working longer will be a fact of life for those entering the workforce today but these findings suggest that increasing numbers of pensioners will be forced to work later far sooner than this. Employers have told us that their staff costs could rise as their employees work for longer.

“Workers face the stark choice of either having to save more for their pension from an earlier age or having to work longer if they are to avoid taking a significant drop in their standard of living in retirement. Early pension saving is critical and we strongly encourage people not to delay starting a pension.”

The research also identified a clear North/South divide. Companies in the north of the country expect an average of 16.2% of their staff to work past the statutory retirement age compared with an average of 2.4% in Greater London and the South East.

Via EPR Network
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401K, Assets, Financial, Financial Information, Financial Law, Financial Services, Investment, IRA, Money, Personal Finance, Retirement, Taxes

New Tax Law for Roth IRA May Be a Bad Deal for Taxpayers

In 2010 millions of Americans will be able to do something they have never done before—convert their IRA into a Roth IRA account. Current 2009 limitations do not allow anyone who makes more than $100,000 per year to convert their traditional retirement funds into a Roth IRA.

However, beginning in 2010, the Roth IRA conversion restrictions are being lifted. But is this really a good thing for taxpayers?

“Roth IRAs are a bad idea for taxpayers because they are paying taxes now in order to avoid paying taxes on distributions that are taken later,” said Jeff Nabers, CEO of Nabers Group. The problem is partly the economic crisis that we are in. “It makes sense if we were in a commodity-based monetary system, but we’re not. We have a fiat currency system that creates an inflationary environment in which Roth conversion is a good deal for the government and a bad deal for the taxpayer.”

Additionally, the Roth IRA conversion can be costly for the taxpayers. If they opt to convert their traditional IRAs to Roth IRAs, the IRS will view this as a taxable event. Accountholders will be taxed based on the entire conversion amount for their current tax bracket. The income taxes due on the 2010 conversion can be spread over two years. However, future conversions must be included in income reports to the IRS and will be taxed during the tax year in which the conversion is completed.

Nabers cautions his clients to carefully look at all their options when considering the Roth IRA conversion. He suggests, “Instead they should continue using their non-Roth Retirement accounts for the maximum tax benefit.”

Nabers, the author of Five Steps To Freedom: How to Cut Your Dependence on Institutions and Escape Financial Slavery, points out that the most important thing that taxpayers can do in these economic times is to find alternative investment solutions. “We’re likely heading into an era of significant inflation. I recommend that people seek alternatives to volatile Wall Street Securities and dollar-denominated assets in general.”

“The action that I recommend is to get more educated on the matter and look at both sides of the story before making a decision,” said Nabers. He says deciding to convert to a Roth IRA could cost you hundreds of thousands of dollars. “Before paying taxes using half of your savings, wealth, or retirement account, consult experts about all of your options. What you don’t know could hurt you—so seek knowledge and information so that you can make an informed decision that you won’t regret.”

Via EPR Network
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College Finance, Financial, Financial Services, Loans, Money

Indiana Campaign Finance – The Online Payday Loan Company

Indiana Campaign Finance is one of the leading payday loans providers, extending instant financial assistance to its customers. The processes at Indiana Campaign Finance are very simple which makes it a trouble free process to acquire loans for emergency purposes. By keeping the formalities as little as possible, we provide fast cash to the borrowers in no time.

Indiana Campaign Finance

One of the best things about our companies is that we do not hold back payday loan online from the borrowers with bad credit. Regardless of the credit history, one can get loans from Indiana Campaign Finance. It is this facility which has leaded us this far in the arena of payday loans. Our services include quick cash advance, personal loan,home loans,student loans and credit card. We also provide car insurance and home insurance to our prestigious customers.

No matter which field of life you may belong o or for what purposes you may require loan, Indiana Campaign Finance fulfils all your requirements in the best possible manner. As it is common to all salaried people to be out of money before fulfilling their financial obligations, we come to aid of such individuals and provide them with fast cash. As the term explains, the payday loans are short term loans which are to be paid back within a few days. When you get your next wages you are supposed to return these to Indiana Campaign Finance, however, with Indiana Campaign Finance, you can also extend the time of return by opting for customized deals.

Indiana Campaign Finance lends you money without require too many detail and information. All we need to know is the simple basic information about you like addresses, occupation etc., and you will be able to get payday loans from us. You need to have a job as a precondition and a current account in a bank as well. The borrower has to be 18 or above to get payday loan from Indiana Campaign Finance.

You can apply for a loan online and our representative will get in touch with you quickly. You can also all us to get the details of different packages and other information you require. The loan you get from Indiana Campaign Finance can be spent for any need; there are no limitations to its usage. However, as the rate of interest in generally more for such kind of loans, you should opt for them only when you are in a fix and have no other alternative. In this situation, you will find Indiana Campaign Finance you best buddy who would extend the best financial services to you.

Via EPR Network
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Assets, Financial, Financial Information, Financial Services, Insurance, Insurance Services, Money

Learn How to Customize Business Insurance Policies

With any insurance policy, the consumer should take the time and care in making a checklist with their insurance agent to make sure all their bases are covered. Only a personally tailored business insurance policy stands the chance of being efficient while also providing the necessary amount of coverage, according to an article recently published on InsuranceAgents.com.

“When venturing out and starting your own business, it’s important to financially protect it with a quality business insurance policy,” states the article titled, ‘Make Your Own Business Insurance Policy Checklist.’ “Having all of the right coverage options and necessary inclusions will protect you from serious financial loss later.”

Here are several necessities that should be included in any business insurance policy. Without these, a business insurance policy is pretty much obsolete. Depending on the nature of the business, some types of coverage should be emphasized while others should be minimal. Talk to a licensed professional about the needs of your specific business.

-Reparation/replacement coverage for any damaged property or assets
-Liability coverage with high enough limits
-Reimbursement of any income loss if the company temporary ceases productivity (this is known as interruption insurance)
-A deductible that fits within the framework of the company’s budget
-Optional: workers compensation and health insurance for employees

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401K, Financial, Financial Services, Funding, Investment, IRA, Money, Personal Finance, Retirement

Jeff Nabers, CEO Of Nabers Group, Cautions Against The Use Of 401(k), IRA Rollovers As A Financing Strategy For A Business Start-up

One unforeseen consequence of the current recession has been the increasing number of Americans who have stumbled into entrepreneurship after losing their jobs to round after round of layoffs. Many of these people have taken one look at a job market where the unemployment rate is nearly 20% in some regions and decided to start their own businesses. It’s a bold move and certainly there is something very admirable about the idea, but also a risky one, with about half failing in the first few years; making financing a small business start-up something, which should be done with great care.

There are a lot of people who think of using 401(k) or IRA rollovers as a source of financing the start-up costs of a new business or to cover the purchase of an existing one. While you may see a lot of praise for these plans (called ROBS for Roll Over Business Start-up by the IRS), especially online where their proponents try to sell would-be entrepreneurs on the merits of this form of financing, many financial industry experts strongly recommend thinking again about using your IRA or 401(k) to fund your small business.

One of these financial experts is Jeff Nabers, CEO of the Denver financial planning company Nabers Group. Nabers has written about how ROBS work and their risks on his blog, where he warns against using these financing vehicles.

“It’s entirely understandable that people are tempted by ROBS; the recession hasn’t made small business financing easy to come by and there are more Americans than ever trying to start their own businesses. However, there are a lot of risks associated with using IRA and 401(k) rollovers. Beyond the old diversification maxim of ‘don’t put all your eggs in one basket’ the legality of the ROBS strategy has been on shaky ground. There’s a basic rule that prohibits “self dealing” for any retirement account participant, but ROBS promoters have attempted to skirt this by creating a loophole that claims a special exemption. Unfortunately, a government ruling from 2006 closed that loophole. ROBS structures could face a stiff penalty, which amounts to approximately 115% of your retirement funds,” says Nabers.

“It’s a subject that is somewhat controversial in the financial services industry, but as I have been informed by government officials and my legal counsel, the 2006 ruling means ROBS no longer occupies a legal gray area even. I can’t recommend these to my clients in good conscience. I don’t see a bright future for this strategy of funding, to put it mildly,” added Nabers.

Jeff Nabers isn’t alone in sounding the alarm about ROBS and other rollover schemes – there has been a lot of concern expressed by financial experts in the last year. Previously, ROBS was considered high risk, but as Nabers’ put it, “My recent DOL meeting was the nail in the coffin of the ROBS loophole.”

Nabers unabashedly encourages entrepreneurship in spite of the government’s unfavorable stance on ROBS. His message to would-be ROBS users is: “Start and fund your venture anyway [without ROBS]. You can still raise money from others, including from their IRA and 401(k) accounts. Frankly, that is actually a surer path to success because raising money from others will cause you to be more thorough in your business planning.”

Via EPR Network
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Checking & Savings, Financial, Financial Information, Financial Management, Financial Services, Insurance, Investment, Money, Personal Finance

The Children’s Mutual Launches CTF Cashback Site

The Children’s Mutual, leading Child Trust Fund provider, has revealed that expectant parents can earn over £200 by using its new shopping portal CTFCashback.co.uk to kit out their babies’ nurseries.

Research shows that on average, British parents spend £3,383 decorating and furnishing a nursery with a further £605 spent on prams, buggies and car seats. If parents did this shopping through CTF Cashback, they could be earning financial rewards of up to £215.

Free to use, the site enables online shoppers to build up cash in £10 increments which can be placed directly into a bank account or a Child Trust Fund with The Children’s Mutual.

The site, which offers members up to 20% cash back and lists over 1,000 retailers – many with additional voucher codes – can help parents and the wider family continue to save as the baby grows up too. By using CTFCashback.co.uk to purchase ongoing essentials such as nappies and baby wear right through to buying presents and even holidays.

Tony Anderson, Marketing Director at The Children’s Mutual, said: “All parents quickly realise that buying everything they need and want for their child can be an expensive business. We created our CTF Cashback site to assist parents in getting great value for money on all their purchases, whilst being able to save towards their child’s future”.

Over 1,000 major retailers have already signed up to the scheme including leading brand favourites such as Mothercare, John Lewis, Kiddicare.com and Marks & Spencer. Collectively, retailers are offering www.CTFCashback.co.uk members average returns of over 5% through the site, with some offering up to 20% or lump sums of up to £85.

Tony Anderson continued, “When questioning expectant and new parents through our monthly poll, nearly 90 per cent* suggested that they would like to receive ‘money back’ for their nursery shopping. We have taken this one step further so, whether it’s buying baby grows and nappies or school uniforms and family holidays we wanted cash-strapped parents to be earning money every time they spend online. With so many pulls on household budgets, www.CTFCashback.co.uk offers a practical way of helping families to be savvy with their money and encourage them to save towards their children’s futures.”

Via EPR Network
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Financial, Financial Information, Financial Services, Financial Software, Financial Solutions, Forex, Investment, Money, Stocks, Trading

Saxo Bank Acquires A 40% Stake In Initto

Saxo Bank, the online specialist in trading and investment, has announced the acquisition of a 40% stake in Initto, the Danish owned software and IT services provider. Initto has around 200 employees based mainly in India and Ukraine and the acquisition of Initto will enable Saxo Bank to continue to support and speed up the development of its trading systems.

Saxo Bank Acquires A 40% Stake In Initto

Designed to meet the varying needs and demands of financial investors and traders, Saxo Bank has developed four specialised and integrated trading platforms; the downloadable SaxoTrader, browser-based SaxoWebTrader, compact SaxoMiniTrader and phone-based SaxoMobileTrader.

Mikael Munck, CEO of Initto, commented: “Initto provides a wide range of customized IT services and software engineering solutions to clients. We have been very successful in offering and integrating our services into the organisation of our clients. We offer access to a wide range of international specialists that focus entirely on delivering high quality solutions to our clients’ allowing them to focus on core competencies, freeing up time for innovation and value creation. This is the secret of our success which we are certain Saxo Bank also will benefit from”.

Since its establishment in 2003, Initto has grown by an average of 50% per year and expects to enhance its service offerings with the support of Saxo Bank as a strong financial partner. Initto is headquartered in Ballerup near Copenhagen with a representative office in Oslo. Initto will continue to develop software and provide services to its existing client base.

In a joint statement, Kim Fournais and Lars Seier Christensen, Co-CEOs and co-founders of Saxo Bank, said: “We are thrilled to have acquired this stake in Initto, which has great synergies with Saxo Bank and fit perfectly with our business model. The acquisition is in line with our ambition to acquire fully developed businesses and utilize their expertise to develop and strengthen Saxo Bank’s products and services. Over the next few years, we will be working with Initto to further increase the value we offer our own clients. Initto’s current and future client base will also benefit from our commitment as client and shareholder. We want to remain a first class service provider and we believe Initto can help us achieve this goal.”

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Banks, Checking & Savings, Financial, Financial Services, Financial Software, Financial Solutions, Money, Security

Experian Teams with Citi to Provide SEPA Data Conversion Service

Experian, the global information services company, is partnering with Citi to provide an automated International Bank Account Number (IBAN) and Bank Identifier Code (BIC) conversion and validation service for SEPA-compliant cross-border payments. While Experian’s Data Conversion Service will be delivered across all 31 countries in the SEPA region, the partnership also extends to Citi customers initiating payments to and from the SEPA area from anywhere in the world.

Use of SEPA Credit Transfer (SCT) and SEPA Direct Debit (SDD) schemes requires corporates to submit a valid BIC IBAN for all EU cross-border Credit Transfers and, from November 2009, for all direct debit payments. Additionally, several European countries have adopted the IBAN as part of their own domestic payment standard. In order to enable Citi’s customers to take advantage of the SCT and SDD schemes, the IBAN and BIC Conversion service will ensure customer databases are as accurate and complete as possible.

Experian will check, validate and convert existing domestic BBANs (Basic Bank Account Numbers) to the required IBAN and BIC standard in bulk, enabling customers to avoid rejection or failed payments, thereby reducing transaction costs and improving straight through processing of payment instructions. In addition, the bank’s customers will be able to identify invalid records that require further or correct information to be obtained or verified, including invalid account numbers and closed bank branches.

Ruth Wandhöfer, EMEA Head of Payment Strategy & Market Policy Global Transaction Services at Citi, commented: “Submitting invalid data when making a payment can be costly for corporates and their customers. However, by teaming up with Experian to ensure bank account details are converted into the right format, we will enable our customers to reduce the cost of correcting rejected payment information. In addition, the service enables us and our customer base to be ready for the introduction of SEPA Direct Debits in November 2009.”

Jonathan Williams, Director of Product Development and Strategy at Experian Payments, added: “Experian’s conversion service is already used by many of the world’s leading organisations to check their data, convert their data and then keep their data clean. By partnering with Citi, Experian is enabling a growing number of the world’s biggest businesses to make SEPA payments, while at the same time helping the bank to improve its operational efficiency.”

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Banks, Checking & Savings, Credit Cards, Financial, Financial Management, Financial Services, Financial Solutions, Money, Personal Finance

Barclaycard Announces 100 EAT Stores Across The UK To Go Contactless

Barclaycard has announced that EAT, a leading sandwich, soup and coffee shop, will rollout contactless technology and payment across its entire network of 100 stores from mid November. The rollout of contactless follows a successful pilot project in 24 London based EAT stores over the past 18 months.

The rollout, which began in March 2008 and will be completed by mid November, will see contactless payment available in EAT stores in a range of towns and cities across the UK including Manchester, Birmingham, Oxford and Cambridge. These stores join Barclaycard’s ever-expanding contactless payment network, with more than 9,000 outlets now accepting contactless payments across the UK.

Contactless allows customers to purchase items of £10 or under without the need to enter a PIN or sign, with customers requested to enter a PIN occasionally for added security.

Dan Salmons, Director of Payment Innovations at Barclaycard commented: “Contactless is the future of payments and we believe that contactless payment, via card or mobile phone, is one of the safest and most secure ways to pay. We welcome this rollout as it demonstrates how both consumers and retailers are benefiting from the convenience of quick, secure payments with contactless. Consumer feedback highlights the growing demand for contactless and we expect EAT to be amongst the first of many major retailers who will become contactless enabled over the coming months.”

Rene Batsford, Head of IT at EAT commented: “For the last 18 months we have accepted contactless payments in over 30 stores in London, and the success and feedback from our customers meant the decision to rollout contactless across our entire network, was an easy one to make. Customers across all our stores can now benefit from a fast, secure way to pay.”

Barclaycard and Barclays have issued over four million contactless enabled credit cards since Barclaycard OnePulse credit card launched in September 2007 and have the highest market share of contactless terminals in the UK. Other well-known brands such as Prêt a Manger, Coffee Republic, the National Trust, Books Etc and Yo Sushi also accept contactless payments.

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Financial, Financial Education, Financial Information, Financial Management, Financial Services, Financial Software, Financial Solutions, Loans, Money

Pennsylvania Association of Community Bankers Partner With NLA and SEF

National Lending Associates, Inc. (NLA) and Sterling Education Finance, LLC (SEF) announces their strategic partnership with the Pennsylvania Association of Community Bankers. Through this partnership, a new education financing solution called the Community Education Loan (CEL) will be provided to their member banks. “Pennsylvania Association of Community Bankers is pleased to have the opportunity to recommend to our member banks a turnkey private education product which can be customized to meet the needs of our constituents” said Richard K. Arnold, Senior Vice President/Chief Operating Officer. “Today, students and their families are finding it more difficult to obtain financing for a college education due to the continued financial pressures on traditional lenders because of the instability of the financial markets. This is a great opportunity for the financial institution to offer an alternative loan program, as well as better serve their customer base.”

The Community Education Loan program allows community banks to develop their own student loan offering without additional staffing or resources. This program is completely managed by NLA and SEF including product development, application origination, credit decisioning, disbursement processing, and loan portfolio administration services, with loan servicing being performed by PHEAA/AES. PHEAA/AES is one of the largest and most respected student loan servicers in the country.

“We are delighted that Pennsylvania Association of Community Bankers has chosen to promote the CEL program to their member banks,” said Nancy Chalker, Regional Vice President at Sterling Financial and the relationship manager for this program. “By combining the in-depth knowledge and strength of the Pennsylvania Association of Community Bankers and the private loan expertise of both NLA and SEF, we are able to bring a quality private education loan solution to this marketplace.“

For more information on the Community Education Loan go to (www.sterlingeducationfinance.org), contact Pat Cook at (828) 335-1092 or Nancy Chalker at (570) 899-1595.

About National Lending Associates, Inc.
Based in San Diego, California, with offices in Ohio, Arizona, Georgia, Pennsylvania and New York, National Lending Associates, Inc., is a nationwide specialty service company focused on providing financing solutions, loan and portfolio administration services, and technology options for the education financing marketplace (www.nationallendingassociates.com).

About Sterling Education Finance, LLC
Sterling Education Finance, LLC is an innovative education financing company dedicated to the larger mission of ensuring access to education. Our product suite is designed to offer financing solutions for every private K-12, career and trade institution, college or university based on the institution’s unique needs as well as the needs of the student and families they serve. We have a select group of origination, funding and servicing partners and all of our products are fully supported by our team of industry veterans.

About Pennsylvania Higher Education Assistance Agency/American Education Services
Created in 1963 by the Pennsylvania General Assembly, the Pennsylvania Higher Education Assistance Agency (PHEAA/AES) has evolved into one of the nation’s leading nonprofit student aid organizations. Today, PHEAA/AES is a national provider of student financial aid services, serving millions of students and thousands of schools through its loan guaranty, loan servicing, financial aid processing systems and outreach programs. As a nonprofit organization belonging to the Commonwealth of Pennsylvania, PHEAA/AES devotes its energy, resources and imagination to developing innovative ways to ease the financial burden of higher education for Pennsylvania’s students, families, schools and taxpayers.

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Financial, Financial Information, Financial Services, Insurance, Insurance Services, Money

Homeowners Insurance Tips for Halloween

Generally speaking, one doesn’t usually associate Halloween with homeowners insurance. One is a night of fun-filled night of adventure, sweets, and costumes while the other is, well, there. But when it comes to saving the headache and expense that goes into filing a homeowners insurance claim, even the most festive Halloween appreciator will perk up and listen. According to an article recently published on InsuranceAgents.com, homeowners planning a Halloween party should take a few simple precautions so they don’t find themselves in a claim situation.

Halloween is one of the few occasions where homeowners across the country actually invite total strangers onto their property. With all the elements involved, anything can go wrong and it is for that reason why a quality homeowners insurance policy is important. “If you are planning a relatively large party then you might want to consider additional homeowners insurance coverage,” states the article titled, ‘Halloween Parties Gone Bad: Homeowners Insurance Affected.’ “You should consult your home insurance agent about your options regarding additional coverage for an event such as a Halloween bash.”

The first step in keeping a Halloween party safe is keeping the pets away. Even the most gentle of animals can go off on an unsuspecting guest without notice. This could, unfortunately, lead to a costly homeowners liability insurance claim. So don’t take the chance and just lock Fido in the basement for the night.

Home fires are another unfortunate occurrences at some Halloween festivities. With Jack-O-Lanterns and candles in bags lighting walkways, any number of circumstances could take place which could result in an untimely and unfortunate house fire. So be cautious and don’t be a part of the staggering statistics relating holidays and house fires.

Halloween is supposed to be a worry-free night of fun and adventure. So keep it that way with the aforementioned simple precautions. Visit InsuranceAgents.com today to learn more about saving on all types of insurance.

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Anti-Money Laundering, Assets, Business, Financial, Financial Services, Money, Security

Identity Checks Supplier Continues To Expand

Leading suppliers of identity checks and anti-money laundering services, Tracesmart, are to expand their workforce which will help manage the increasing demand for their services. The expansion will specifically involve the administration, sales and IT teams.

Identity Checks Supplier Continues To Expand

Tracesmart is currently active in a number of industries however the key B2B markets in which it operates include pensions and debt collection. Both these sectors use the company’s data cleansing and consumer location services to trace people in order to re-establish contact. The pensions industry further utilises Tracesmart’s Existence suite of services which can be used to identify scheme members who have relocated or are deceased, this helps pension schemes better manage their member payments, and protect themselves and their members against fraud.

Demand for Tracesmart Corporate services has already prompted the company to recruit seven new members of staff over recent months. They now plan to recruit a further eight to strengthen their numbers and continue their expansion within their core and new commercial arenas. Tracesmart’s employee levels will soon total sixty, and the company headquarters still has capacity for further growth as their Business Support Manager, Rebecca Westlake, commented,

“We recently completed the refurbishment of our newly expanded Cardiff head office. In line with our expansion plans, the improvements have allowed us to develop and deploy individual teams efficiently and effectively to optimise our work environment.”

With close ties to both his front line staff and the company’s major clients, Tracesmart’s Managing Director, Mike Trezise, is fully aware of how and when the company will continue to expand. Commenting on his company’s development Trezise stated,

“We continue to reap the rewards of our ongoing marketing and sales campaigns within our core sectors. Demand has further led us to increase our staff to meet current and new client needs. We will continue to ensure our clients receive the best possible service and I’m confident that we’ll experience sustained growth in 2010.”

About Tracesmart:
Established in 1999, Tracesmart Ltd is a leading provider of consumer intelligence services. It specialises in the provision of data cleansing, consumer tracing and identity verification.

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Financial, Financial Information, Financial Services, Insurance, Insurance Services, Money

No Kidding – Average Age of Child on Parent’s Car Insurance is 31

In the past year the average age of a child named as a second driver on their parent’s car insurance policy has shot up from 25 to 31 years old, according to new research from uSwitch.com. As the recession takes its toll on the Bank of Mum and Dad, 10 million drivers (39%) have a second named driver on their policy and 2.5 million (10%) of these are offspring.

Being named on a parent’s policy is a legitimate practice, providing that the child in question is not the main driver of the vehicle. However, with insurance premiums on the up, high petrol prices and other escalating costs, keeping a car on the road has become challenging for many young motorists. As a result, many are putting themselves on the wrong side of the law by indulging in a fraudulent practice known as ‘fronting’.

‘Fronting’ takes place when a young person buys and registers a car in their own name, but the insurer is falsely told that a parent is the main driver – and cases have shot up since the onset of the recession. According to the Association of British Insurers (ABI), ‘fronting’ and other forms of insurance fraud have increased by 30% since 2007 and the cost of undetected fraudulent general insurance claims is now estimated at £1.9 billion a year, up 24% from £1.6 billion two years ago.

Ultimately consumers end up paying the price for this activity – insurance fraud now adds an average of £44 a year to every household’s general insurance costs.

In addition to ‘fronting’, some young motorists are taking cost cutting to an extreme with as many as one in five (250,000) 17-20 year olds driving without insurance, according to the Motor Insurers’ Bureau (MIB). In the current economic climate it’s also unsurprising that many feel forced to downgrade their type of cover to the more affordable ‘Third Party’.

Young drivers are not alone in this – one in five (20%) of all third party policy holders have opted for a reduced level of cover because they are simply unable to afford fully comprehensive cover in the current financial environment.

Via EPR Network
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Financial, Financial Information, Investment, Money, Personal Finance, Profits, Stocks

Is An Investing Book Worth $799?

The author is not even dead . . . yet! Better to gain ‘know-how’ than gold. But is a book worth $799? An immodest ‘yes’. Sushi Zen Restaurant, Times Square - A statuesque, charming Senior Analyst for an Chicago-based investment journal magazine, showed me a remarkable sight on her laptop.

Incredible! But there it was. Imagine my astonishment when I saw used copies of my previous book The Profit-Taker Breakthrough; selling on www.amazon.com for the price of $799.00.

Is it a joke? Is it clever merchandising? You tell me. Certainly I confess to a twinge of pride. I was flattered.

The ‘Breakthrough’ . . . the proven, rapid, money-maker in good and bad markets . . . is the detailed ‘good news’ text and workbook for Profit-Taker Strategies.

The two entrepreneurs book sellers are highly regarded five star dealers – Motor City Books of Michigan and The David Bean Books of California. Good luck to them!

I was enheartened as a writer when The Chicago Tribune headlined their review to my book with the “PROFIT- TAKER: SOLID ADVICE ON THE STOCK MARKET”, but this is special. Selling my book at $799!

Although I’m 78 years old, I’m still committed to living. They forgot I’m still breathing.

In fact, on my SCOREBOARD on www.profittaker.info which is totally free and transparent, the annualized profits are registering up to 382%.

Like most authors, no doubt, I had a few new copies of my book lying around my study. So I added a current 2009 revision. Subsequently I placed them on www.Ebay.ca at the original price for the world to see.

Professor Don Abrams

Author and Inventor of the The Profit-Taker
www.profittaker.info
profsmarba@aol.com

Prof. Don Abrams is the author of a number of published financial books, including the international bestseller…The Profit-Taker: the Proven Rapid Money-Maker in Good and Bad Markets.

P.S. Notification of The Profit-Taker Breakthrough selling on the internet at $799.00 is located at:

http://www.amazon.com/gp/offer-listing/0969821603/ref=dp_olp

The $22.95 Version is located at:
http://books.shop.ebay.ca/?_from=R40&_npmv=3&_trksid=p3910.m38.l1313&

Via EPR Network
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Banks, Bonds, Checking & Savings, Financial, Financial Information, Financial Services, Financial Statements, Investment, ISAs, Money, Personal Finance

NS&I Has Announced Changes To The Way Customers Can Invest In Its Fixed Rate Bonds

From the end of October, the products will only be available directly from NS&I (by freephone, online or by post) and no longer available through the Post Office.

NS&I and the Post Office have jointly agreed to this change, which is in part a reflection of the development of the Post Office’s own brand of savings products. These include Post Office Growth Bonds – a very similar range of fixed rate savings bonds to the two NS&I products. The decision also reflects NS&I’s desire to develop its direct sales channels.

The Post Office will continue to offer a wide range of other NS&I savings products – including Premium Bonds and Savings Certificates – which can be purchased over the counter.

Existing NS&I Guaranteed Growth Bond and Guaranteed Income Bond customers will not notice any change as all post-sale servicing and support is already carried out directly through NS&I.

Peter Cornish, Director of Customer Offer, NS&I, said: “We are committed to making our products as straightforward as possible and ensuring that customers understand where they are investing their money. The changes we have jointly agreed with the Post Office will do just that. Our Guaranteed Income Bonds and Guaranteed Growth Bonds will continue to offer customers a simple and straightforward saving opportunity.”

“The Post Office is our key distribution partner and we recognise it is a familiar option for many savers looking to invest with NS&I. Therefore, a wide range of our savings products will continue to be available over the counter in Post Office branches.”

Gary Hockey-Morley, Post Office Limited marketing director, said: “NS&I savings products will continue to be a key part of the ever expanding range of value for money financial services available at Post Office branches. We look forward to continuing our long standing partnership with NS&I well into the future, through providing easy access to a wide range of their savings products through our 12,000 branches which lie at the heart of communities across the UK.”

Customers can invest between £500 and £1 million in total in an NS&I fixed term bond, with guaranteed rates of interest. NS&I’s Guaranteed Income Bond offers customers the opportunity to receive their interest as a monthly income, whilst the interest earned on NS&I’s Guaranteed Growth Bonds is credited to the Bond annually.

NS&I’s fixed rate bonds are available in terms of one, two, three and five years. The two-year term was launched in July 2009 and is only available directly from NS&I.

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Financial, Financial Services, Home Equity, Insurance, Insurance Services, Loans, Money, Mortgage, Personal Finance

Market Conditions Spell Good News For Life Insurance Policy Holders

Homeowners often fail to review their life Insurance when searching for the cheapest mortgage deal, but with both the cost of cover and their mortgage balance having fallen, many could make substantial savings just by switching life insurance providers.

Many borrowers with repayment mortgages are unaware that to ensure there is sufficient life insurance to repay their mortgage, life insurance companies assume an average interest rate for the life of the mortgage, often around 10%.

As many borrowers have not paid anything like 10% recently, and have made overpayments, their mortgage balance may well be significantly below the amount of life insurance cover.

This gives them the opportunity to reduce the level of insurance and save money, or with the cost of life cover now cheaper and competition stiff, get the same amount or even increase their cover for the same monthly outlay.

One L&C customer recently increased their life assurance from £390,000 to £423,000 to cover their new mortgage, but managed to reduce their premium, saving themselves around £130 per month.

L&C’s Richard Morea said:
The UK population is massively underinsured as a whole, so taking advantage of smaller mortgage balances and reduced premiums provides a great opportunity to make better provision for our families, without breaking the bank.

For more information and no-fee advice, life insurance policy holders should call free on 0800 0731932.

Via EPR Network
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