School's back in session! On Friday, October 17th, Michelle Vineburg, Compliance Officer, and David Malafarina, Social Media Marketing Specialist, returned to Lehigh Parkway Elementary School in Allentown to teach 3rd graders about banking, budgeting, and saving money. They handed out bags filled with activity books and bank-related posters and invited students to participate in mini games.

Many thanks to Brittney Dunleavy, 3rd Grade Teacher, Connor Hughes, Principal, Mary Powell, 3rd Grade Teacher, Paul Spence, Assistant Principal, and all the students in both 3rd grade classes who were excited to learn and participate in the presentations.

Northwestern Elementary held a Kickoff Pep Rally last Wednesday for their annual Boosterthon fundraising event, where they unveiled the winning t-shirt design, designed by student Sadie M. New Tripoli Bank has been a proud sponsor of this event for the past six years; with Patricia Metzger, New Tripoli Office Branch Manager, and Jenna Smith, Claussville Office Branch Manager, attending this year's pep rally.

Northwestern Elementary PIE always welcome donations; if you would like to contribute, you can do so at this link: https://give.mybooster.com/northwestern-lehigh-elementary-1

It was a beautiful Saturday this past weekend for the annual Pioneer Apple Festival at Ontelaunee Park in New Tripoli. The balmy weather meant attendees needed a way to cool down, which is why New Tripoli Bank employees were at the festival handing out free ice cream to guests (and their pets!). Even some of our employees' children joined in!

Big thanks to this year's volunteers: Andrea Harris, BSA & Security Officer; Matt Koncz, Controller; Rania Abdelfatah, Sr. Accounting Specialist; Lori Croneberger, Loan Support Specialist; Karen Hantz, Consumer Lender; David Malafarina, Social Media Marketing Specialist; Christine Pierce, Mortgage Lender; also thanks to Rania's husband, Dan, and Matt's son, Theodore, for their help!

Also thank you to one of our Community Bankers, Kelci, who stopped by our stand and let us pose with her son, Oliver!

The winning hex sign from this summer's Hex Sign design contest is finished! The sign will be on display all next week at New Tripoli Branch offices before we hand it off to the winning designer. If you'd like to see the sign for yourself, it will be at our branches on the following dates next week:

Buckeye Office: Monday & Tuesday, 9/22 - 9/23

Claussville Office: Wednesday & Thursday, 9/24 - 9/25

New Tripoli Office: Friday, Saturday & Monday, 9/26 - 9/29

We would like to highlight Eric Claypoole of Claypoole Hex Signs who turned the winning design into a reality. If you like his work, you can learn more and commission your own hex signs at https://claypoolehexsigns.com/

Every parent or guardian knows one of the most effective methods for motivating kids to do something boring is to turn it into a game. For example: assigning points values to household tasks like cleaning up their bedroom, putting away their toys, or taking out the trash, with the promise of a reward when the child reaches a certain point total.

This is referred to as “gamification,” where you take the most engaging elements of a game, such as competition and rewards, and apply them to real-life activities. Gamification can help make otherwise mundane tasks feel less like chores by tapping into the human desire for achievement.

Gamification can be equally useful for adults trying to establish good spending habits. You can “trick” your brain into positive behaviors by attaching a reward to that behavior. Whether you’re looking for ways to teach your kids financial literacy or want to motivate yourself to get your finances in order, here are some ways you can gamify your savings.

Level Up Your Saving with Short-Term Rewards

Saving money is hard. At a basic level, you are depriving yourself of present gratification to save for a future goal. We’ve all heard of retail therapy; our brains are wired for the dopamine rush that comes from getting what we want, which leads many to spend their money as soon as they receive it (and sometimes even before then). However, we can use this chemical impulse to our advantage!

Setting up short-term, budget-friendly rewards for reaching savings thresholds can help alleviate this habit by providing you with small dopamine rushes along the path to your eventual savings goal. For example, let’s say you are trying to save up $1,000. You create a rule that, for every $200 you save towards this end goal, you will treat yourself by going out to a restaurant for lunch. Suddenly, saving that $1,000 becomes a series of “level ups” that you need to reach to “finish” your game, and along the way you get to enjoy the rewards of hitting each milestone.

One of the benefits of this strategy is that it requires you to pay attention to your income, which is an essential habit for anyone learning how to budget properly. You can maintain a better sense of your financial situation and become more mindful of the connection between your money and the time it takes for you to earn it.

Utilize Visualizations

Most people who have participated in a fundraiser will have seen an example of this strategy. Fundraising organizers use an oversized cardboard thermometer to represent the amount of money that has been raised, to provide a visual shorthand of the progress being made. By displaying the distance from the goal and seeing the shrinking gap between your current progress and the target, it helps you understand your progress at a glance and encourages you to continue as you get closer to your goal.

There are many savings apps that provide interactive charts, graphs, and other visual trackers to help turn numbers into easier-to-read visual data. These apps can also provide real-time updates and notifications to remind users of their achievements, which can also reinforce their motivation to save.

Engage in Friendly Competition

While it can feel awkward discussing money issues with friends, sometimes having a support network around you is the best way to encourage saving. You should consider participating in a savings challenge with friends or relatives to encourage everyone to practice good spending habits. If you do decide to go this route, make sure to keep the competition friendly! Compete for bragging rights rather than material rewards.

You should consider creating a physical leaderboard that you can update periodically to show who is in the lead in your competition. This kind of challenge also encourages participants to share their progress, tips, and success stories with one another, as well as providing a support network in case certain participants are struggling to hit their savings goals.

Ready, Set, Save!

Introducing gamification into your personal finances can help you develop consistent savings habits. Our brains love completing challenges and earning rewards, but sometimes it can feel like saving money isn’t a reward in itself and you need that little extra push to get you into the habit.

Whatever it is you decide to do, the key is to get started and stick with your plan!

If you’re having trouble figuring out how to get started, reach out to a customer service representative at your financial institution. If you’re looking for a change in financial institution, New Tripoli Bank’s team of community bankers are trained to help individual customers who might need assistance when it comes to reaching financial goals, and we are constantly updating our online and mobile banking platforms to provide customers with the tools they need to practice good spending habits.

Kate Hart-Zayaitz is New Tripoli Bank's Chief Lending Officer and Senior Vice President. Kate has spent many years working for various community banks in our area. She was born and raised in Emmaus and has been involved with multiple banking and economic organizations throughout the Lehigh Valley.

by David Malafarina

Our modern economy is built on the foundation of borrowing and lending money. Many traditional personal milestones have become inextricably tied to the use of credit, whether it’s purchasing your first car, attending college, or buying a home. Because of this, many consumers begin using credit cards as early as high school.

Responsible credit card use is an important topic to discuss. Improper credit card use coupled with the possibility of incurring debt can impede a consumer’s ability to secure proper financing in the future. Understanding how to most effectively use a credit card can go a long way towards achieving financial wellness.

To that end, here are five habits of responsible credit card use that can help you maintain financial stability.

Follow a Budget

One of the easiest ways to end up in debt is to spend outside of your means, which is why it is important to know how much you are spending and how much debt you are able to pay off each month given your personal financial situation. There are plenty of tools that can help, whether it’s physically writing down your spending or using an app to automatically track your budget. The importance of this habit is it helps you remain conscious of your finances, so you know when and where you need to cut back on spending, so you don’t fall into serious debt.

There are numerous budgeting methods you can follow to better manage your finances; too many to list in this article. You can check out our blogs on budgeting tips or watch our Helpful Hints videos to learn the various effective budgeting strategies.

Check Statements Regularly

There are two major reasons you should regularly review your credit card statements. The first ties into budgeting; you need to know how much you spend using your credit card each month. Your credit card statement can also help you visualize the different categories of your spending, whether it’s food, bills, entertainment, etc. You may not realize how much you are spending on a specific category and how that may be hurting your ability to afford the things you need.

The second reason to check your statements regularly is to identify if you have become the victim of fraud. Unexplained transactions on your credit card could be a sign that a criminal has gained access to your card. Preemptively closing your compromised card and disputing fraudulent transactions can help to prevent these fraudsters from negatively impacting your financial well-being. Studies show that people who fall victim to fraud spend years undoing the damage to their credit history, so it is important to catch it as soon as possible.

Pay On Time

It sounds simple, yet so many consumers end up overpaying interest by not paying their credit card bills on time. Consider setting up automatic payments from your checking or savings account to pay off your credit card bills every month, so you never miss a payment.

If you find yourself struggling to pay your credit card bills on time, you are most likely spending outside of your means. Your credit limit is merely a reflection of the credit company’s faith in your financial situation; you should not take it as a suggestion for how much you should spend each month.

Pay More Than the Minimum

The advantages of paying more than your minimum monthly payments are twofold. Credit cards have notoriously high interest rates, and paying down debt quicker means paying less in interest later. As part of your budgeting process, you should try to set aside a sizeable, yet reasonable percentage of your monthly budget to pay down debt.

The second advantage that comes from paying more than your monthly minimum is financial security and mental health in the case of emergencies, when financial burdens are most felt. Not having debt to worry about when rebuilding after a flood, fire, or other unexpected emergencies helps to reduce tension in a stressful situation.

Take Advantage of Promos and Perks

Responsible credit card use isn’t all about sacrifices and fastidiousness. Credit card companies offer perks to their customers to entice them to spend more using their credit cards in the form of airline miles, discounts on hotels, and event product catalogs where you can spend earned points to receive items like luggage, clothing, and more.

Many businesses offer special financing in exchange for signing up for a credit card. Many large home purchases such as furniture, windows, and appliances can be financed with zero interest as long as you sign up for a credit card and pay off the balance for the purchase by a certain date. However, don’t think of these offers as free money! Make sure you are able to pay off the balance within the agreed time, as most of these offers will apply the deferred interest payments onto your balance if you fail to make the payments by the end of the promotional period. Always read the fine print when looking out for these types of advantages.

Avoid Buy Now, Pay Later

Recently, there has been an increase in the number of companies that offer “Buy Now, Pay Later” financing. These businesses seek to provide easy access to financing for day-to-day purchases where loans from traditional lenders often don’t make sense.

While convenient, these financing options  often tend to have higher interest rates than credit cards. Additionally, the “Buy Now, Pay Later” model can encourage overspending due to the ease of purchasing and make it harder to properly budget. If you are new to using credit or are trying to pull yourself out of debt, these types of repayment plans may not align well for your situation. 

Being a good consumer means understanding the pros and cons of utilizing credit. Credit cards allow for a lot of consumer freedom, but only if you know how to use them responsibly. It’s important to use credit cards to build up your credit score so you can secure proper financing in the future for things like a mortgage or car loan.

David Malafarina is the Social Media Marketing Specialist for New Tripoli Bank. He has been a part of the team since 2018 and handles the Bank's photography, website, social media, and other marketing initiatives. He has a background in creative writing and video production and spends his free time playing various tabletop and card games.

New Tripoli Bank will be replacing our current debit cards with new contactless “tap” cards. Active debit cards will automatically be reissued as a new contactless card.

To ensure you receive a replacement card, if you have not used your current card recently, please start using it. Any card not actively being used will be closed when the new cards are issued.

Phishing is a common tactic scammers use to trick consumers into willingly giving up personal information such as passwords, bank account numbers, or Social Security numbers. They do this by sending fraudulent emails or text messages posing as representatives of the bank, exploiting customers' trust to collect personal and financial information. With this information, they could gain access to your email, bank, or other accounts, or even sell the information to other scammers. Scammers also use phishing to trick consumers into clicking a link which will download malware onto their computers.

Scammers will update their tactics based on the latest news and trends, but no matter what form they take, there are always red flags you can look out for when you receive a message asking for personal information:

Spelling Errors. Many phishing emails and texts will contain numerous spelling errors and grammatical mistakes. Official company emails are reviewed multiple times before being sent to customers and will rarely contain large amounts of misspelled words or improper punctuation.

Generic Greetings. You should be suspicious of any email or text message that addresses you by the wrong name or does not use a proper name in its greeting.

Urgency. Phishing preys upon consumers who are prone to click before they think. These emails and text messages often tell a story to trick you into clicking on a link or opening an attachment. Some common messages scammers will use include:

• "We've noticed suspicious activity on your account."
• "There has been a problem with a recent payment and we need your account information."
• "You are eligible to register for federal loan payments."
• "You have a delinquent payment on your account. Click the link to update your payment information."
• "Your account will be locked if you do not verify your account information."

In all these examples, the scammers are creating a sense of potential future danger if you do not act quickly. You should always take the time to think before you click a link in a text message or email. More importantly, legitimate businesses will never ask you to provide personal or account information via email or text.

If you are worried one of these messages may be legitimate, you should reach out to your bank directly via their phone number listed on their website instead of clicking on a link or calling a number in an email or text message.

How to Protect Yourself

You can pre-emptively protect yourself from phishing attacks to minimize your risk of being scammed. Some good habits include:

• Install security software. Make sure your computer and your phone have security software installed.
• Set security software to update automatically. Security software is continually updated with the latest security threats. Check your software's settings to ensure that you have automatic updates enabled.
• Enable multi-factor authentication. Many companies now offer multi-factor authentication for their accounts, which requires additional security credentials to access. In addition to your username and password, multi-factor authentication can include security questions, one-time verification passcodes you receive by text, email, or from an authenticator app, a security key, or a scan of your fingerprint, retina, or face. These methods make it harder for scammers to log into your accounts if they manage to steal your personal information.
• Back up your data. Save a copy of your computer or phone data onto an external hard drive or to the cloud.

What to Do If You Suspect Phishing

If you receive a phishing email or text message, report it! This information helps your bank, law enforcement, and the government fight scammers.

Contact your bank to report the phishing attack, especially if you mistakenly gave any information to the scammers. The bank can help you lock down your accounts and issue you new cards so that the scammers won't be able to access your funds.

You should always file a police report if you are targeted by a scammer. Law enforcement keeps a record of these incidents which can help them spot patterns and potentially apprehend cybercriminals.

Report the phishing attempt to the FTC at ReportFraud.ftc.gov. You can forward phishing emails to the Anti-Phishing Working Group at reportphishing@apwg.org and you can forward phishing text messages to SPAM (7726).

Lastly, review your credit reports and put a security freeze on. This can be done proactively as a consumer.

In 1910, a group of local farmers came together to establish a bank in New Tripoli. 115 years later, New Tripoli Bank is still providing community banking services for people across the Lehigh Valley. In celebration of this milestone, our Board of Directors recorded a message celebrating more than a century of community banking, highlighting New Tripoli Bank's past, celebrating its present, and looking forward to a bright future.

We thank all the customers, employees, and business partners who have helped us reach this momentous milestone. New Tripoli Bank will always remain independent and community-focused, because we know people are more valuable than money.

Click to hear the message from the Board.

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A Message from the New Tripoli Bank Board of Directors

Show Transcript

115 years ago, a group of local farmers came together to establish a bank in New Tripoli, Pennsylvania. Before this, the nearest banks were in Allentown, Kutztown, and Slatington, which meant locals would need to set aside several hours of their day just to get their banking done. New Tripoli Bank opened its doors on March 1st, 1910. Originally under the name of New Tripoli National Bank, offering deposit and loan products to locals clamoring for a more convenient bank. Once our doors opened, they never closed.

New Tripoli Bank weathered the Great Depression, two world wars, several recessions, and years of industry consolidation that had shuttered or swallowed up countless other community banks. We have grown from a single office in New Tripoli to three branches located across Lehi County. Claussville, our second office, is located in Orefield and Buckeye, our third office, is located between Emmaus and Macungie. Over the past 115 years, we've adapted our banking tools to meet customer expectations for quality banking service. Whether it's online and mobile account opening, electronic banking tools, or fraud detection services, New Tripoli Bank is always upgrading our offerings to provide effective modern banking solutions.

However, no matter how advanced our technology is, we never forget the importance of community in everything we do. New Tripoli Bank has been a cornerstone of the Lehigh Valley economy for over a century and we take great pride in our role in the community. We've helped local businesses grow and provided needed funding to schools, historical societies, fire departments, emergency services, and other local organizations. Our employees are all drawn from the Lehigh Valley. They sit on the boards of local nonprofits and chambers of commerce or volunteer at local churches, food pantries, and other nonprofit organizations.

It's this community focus that is the secret to our success. We offer the same conveniences as national banks while treating our customers as individuals rather than just another account on the ledger. When you step through our doors, you are greeted with a smile and recognition. We know that many of our customers choose to bank with New Tripoli Bank because your parents, grandparents, and even great-grandparents were customers. But we also know that you choose to stay with New Tripoli Bank for all the reasons we've mentioned. We intend to be the bank of choice for future generations and to keep that spirit of community banking alive for another 115 years.

You’ve probably heard the phrase “Shop Local” bandied about on social media from time to time. With the internet at our fingertips, it’s easier than ever to get swept up in the immediacy of online shopping at big box retailers, which is why so many community banks spend our time and marketing bandwidth promoting local business.

Choosing to shop locally does not mean deciding between convenience and supporting local businesses. In this blog post, we’ll explain why shopping locally is not only important for supporting the local economy, but how it can also benefit you personally. We’ll start big and work our way down to the stuff that impacts you directly.

Strengthening Local Economies

It’s no secret that big box retailers have put the squeeze on small businesses. In many communities, the locally owned stores that once littered main streets have largely disappeared, unable to compete with the convenience and pricing of large retailers who can negotiate lower prices with their suppliers due to the volume of business.

You may be thinking, “So what? As long as I can get what I need for cheap, what does it matter where I shop?” However, the closure of local small businesses has several knock-on effects that can impact the broader community.

Small businesses strengthen the local economy far more than retail chains. The money that you spend at a local business tends to circulate within the local economy more often than it would if you shop at a big box store. Independently owned small businesses are more likely to buy from other local businesses, contributing more to the local tax base. This means more money for police and fire departments, street repairs, and trash collection!

Environmental Impact

If you’re worried about the negative impacts your purchasing decisions have on the environment, shopping locally is a fantastic way to reduce your carbon footprint. Because small independent businesses tend to source their goods locally, this cuts down on emissions from transportation. Small businesses also consume fewer resources by nature of their size.

Personalized Service

Because they can’t compete on price, local businesses pride themselves on offering high quality or one-of-a-kind products you can’t find at a chain store. While you can’t find everything at a small business, you will find products created by people dedicated to their craft. These are people who can provide expertise with regard to the products they sell; small businesses are an excellent resource for when you have questions or need advice about products.

For the same reason, small businesses are passionate about their products and have the freedom to get to know their customers. This translates into better service and a personalized experience you can’t find at a large retailer that needs to deal with thousands of customers every day.

While big box stores can offer a wide variety of products, their large customer bases can lead to a homogenization effect, where you will find the same brands at different stores with little diversity. By contrast, local stores carry inventory based on what their customers want and often carry unique items from local artisans and farmers. A fitting example would be the Allentown Farmer’s Market; it’s one of the only places in the Lehigh Valley where you can get a cheesesteak pretzel wrap!

Creating Community

As members of their community, local business owners show greater support for local nonprofits and other organizations. “Studies show that nonprofits receive 250 percent more support from small businesses than large ones,” explains Dr. Sue Lynn Sasser, professor of economics at the University of Central Oklahoma.

Many small businesses host or volunteer at local events, contributing to the unique character of the community. New Tripoli wouldn’t be the community it is without the annual Applefest at Ontelaunee Park, and Emmaus wouldn’t be the same without its annual Farewell to Summer Festival! These types of events can only happen with the support of small local businesses.

It is crucial to keep in mind the impact your purchasing decisions have, not only for you, but for your community. When you decide to order from a big box retailer, you are contributing to the homogenization of your unique community. We should all strive to support local small businesses so they can grow and become job creators, so we can foster connections between members of the community, and so we can preserve the distinct character that makes our communities special.

John Hemak is a Vice President of Commercial Lending for New Tripoli Bank and sits on the board of the East Penn School District Education Foundation. He has been involved in commercial lending for decades and has been a commercial lender for New Tripoli Bank for over 12 years.