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Financial Education

Do I need a Business Plan?

December 18, 2015 | Return to the CNB Homepage

By Eric Potes, Assistant Vice President - Commercial Loans The question I hear the most from business applicants is, “Do I need a business plan to apply for a loan?”  An article in Bloomberg has often been cited saying 8/10 businesses fail within 18 months.  Those figures seem... » Read more

Be Wise About Credit Cards

November 18, 2015 | Return to the CNB Homepage

By Linda Cavasin, Branch Officer - Spring Arbor Today the vast majority of merchants and retailers accept credit cards.  There are very few things you ever need to buy that cannot be paid for with a credit card.   But the convenience has a downside.  Credit cards... » Read more

Anatomy of a Credit Score

October 14, 2015 | Return to the CNB Homepage

By Jeff Jackson, Consumer Loan Officer When using credit, whether it is a loan or a credit card, you are borrowing money that you promise to pay back within a specified period of time or under specified terms.  A credit score is one method that lenders use to determine... » Read more

EMV Chip Technology: Dip, Hover or Wave

September 16, 2015 | Return to the CNB Homepage

By Amber Kohler, Banking Operations Officer A change is upon us; the swipe is giving way to the dip, the hover or the wave. On October 1st, 2015 a nearly unnoticeable line will have been crossed for payment acceptance in the U.S. A mandate from Visa, MasterCard, American Express and... » Read more

How Much House Can You Afford?

August 19, 2015 | Return to the CNB Homepage

  Ready to buy a home? How much can you afford? Determining how much “home you can afford” depends on several important factors including: Your annual gross income. You can get a very rough estimate of the affordable home price range by multiplying you annual gross income by 2.5.... » Read more

“Masquerading” Wire Fraud is Big Business

July 14, 2015 | Return to the CNB Homepage

There’s a new email and wire-fraud technique that is gaining momentum. It uses social engineering to try to trick the user into believing that they are communicating with upper level management or the CEO of a company to transfer large amounts of money by wire. This technique, called ... » Read more

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