Blog - Mercer Savings Bank

mercersbank In Financial Tips, News & Events

Where Does Your Money Really Go? Understanding the Difference Between Local Banks and Big Institutions

When you deposit money into your bank account, you might imagine it sitting securely in a vault somewhere, waiting for you to spend it. But in reality, your money doesn’t just sit idle — it goes to work. How Banking Works: A Simple Overview Banks operate by taking in deposits...

mercersbank In Customer Protection, Fraud Awareness, Online Safety

Protecting Yourself from Modern Fraud

As technology evolves, so do the tactics used by scammers—and today, cryptocurrency scams are one of the fastest-growing threats, affecting people of all ages but especially targeting seniors. In 2023 alone, seniors lost more than $1.9 billion to fraud, according to the Federal Trade Commission (FTC). The FBI’s first-ever Cryptocurrency...

mercersbank In Customer Protection, Fraud Awareness

Don’t Let a Dream Trip Turn Into a Nightmare: How to Spot and Avoid Travel Scams

Whether you’re planning a relaxing getaway, a big family adventure, or your first-ever solo trip, travel is something we all look forward to. Unfortunately, that same excitement is exactly what scammers count on. Fraudsters have gotten more creative—and more convincing—when it comes to fake travel deals, bogus timeshare offers, and...

mercersbank In Financial Tips

Just Married? Here’s What to Do Next

Marriage is an exciting new chapter—and it often comes with a few important updates to your personal information, like your name and address. To help you stay organized (and avoid hiccups with your bank accounts), here’s a smart order to handle those changes: Start with the Social Security Administration (SSA)…

mercersbank In Customer Protection, Fraud Awareness, Online Safety

Stay Informed: Protect Yourself and Loved Ones from Elder Fraud

June is Elder Abuse Awareness Month, a crucial time to spotlight the growing threat of scams targeting older adults—especially those involving Social Security and Medicare. And the numbers are staggering: In 2023 alone, Americans lost over $100 million to Social Security scams. Meanwhile, improper Medicare payments reached an estimated $31.2...

mercersbank In Customer Protection, Fraud Awareness

Preventing Senior Scams

At Mercer Savings Bank, we believe protecting our community goes beyond managing money—it means helping our customers safeguard what matters most. And when it comes to fraud, older adults are increasingly being targeted by scams that can lead to devastating losses. According to the FBI’s Elder Fraud Report, adults aged...

mercersbank In Product Spotlight

Exciting New Features at Mercer Savings Bank: Tap, Pay, and Go!

We’re always looking for ways to make banking easier, faster, and more secure for you. With our latest system upgrade, we’re excited to introduce Tap to Pay—a game-changer for everyday transactions! Gone are the days of swiping or inserting your card—now, you can simply tap and go! Let’s explore…

mercersbank In Financial Tips

Unlock Your Financial Freedom: Smart Strategies to Pay Off Your Mortgage Faster

At Mercer Savings Bank, we believe in empowering you with the knowledge to make sound financial decisions. One common goal for many homeowners is to pay off their mortgage sooner, saving thousands in interest. We're here to guide you through some effective strategies. Understanding the Basics: Principal vs. Interest Before...

mercersbank In News & Events, Product Spotlight, Savings Tips

Make Saving Effortless with Mercer Savings Bank’s RoundUp Savings!

Being intentional about saving can be tough. Life gets busy, expenses add up, and before you know it, another month has passed without adding to your savings. That’s why automating your savings is one of the best ways to stay on track—and now, Mercer Savings Bank makes it even easier...

mercersbank In Customer Protection, Online Safety

Love is in the Air… But Be Wary of Romance Scams!

Romance scams are becoming more common, and they aren't just targeting older individuals. Scammers are using emotional manipulation to exploit the human desire for connection and steal both hearts and hard-earned money. These deceptive criminals often use sophisticated tactics to gain trust and ultimately steal from unsuspecting victims. The Cost...