Fort Bend Lifestyles and Homes Magazine Apr 2009: Banking, Nest Egg, 401K, Credit Union

Loans Still Available for Country Properties

Capital Farm Credit

With warmer weather on the way, it’s a perfect time of year to enjoy the great outdoors. As the state’s largest rural lender, Capital Farm Credit can finance land for fishermen, birders and nature enthusiasts who want their own special place in the country.

Capital Farm Credit specializes in rural financing. The borrower-owned lending cooperative offers a variety of flexible financing options for the purchase, refinance or improvement of rural recreational properties and country homes. This local lender also provides operating capital for agricultural operations, including loans for livestock and equipment.

Capital Farm Credit has offices across Texas, including Conroe, Crockett, Dayton, Katy, La Grange, Livingston and Sugar Land. Capital ’s lending experts can help you finance your own place to enjoy all year long.

1-877-944-5500. CapitalFarmCredit.com

Surviving for Tomorrow in Today’s Market

Linscomb & Williams

Warren Buffet once said, “I never met a man who could forecast the market.” Indeed, we certainly have no crystal ball to predict which way the market will go, and we doubt anyone else has one either. Financial advisers who try to predict the market over a 6- or 12-month period are focused on the wrong thing.

The key issue is not the direction of the market over the remainder of 2009 or whether one can outperform it. What is important is having a sound, long-term plan for your assets that is likely to accomplish your goals. For most, this revolves in some manner around whether your money will last longer than you do. As your financial planner and investment manager, we must have a proper perspective about current events and the long-term future if we are to be faithful stewards of your family ’s goals.

For assistance in financial planning and investment management, contact Dan Linscomb at Linscomb & Williams, 713-840-1000, or go online at www.linscomb-williams.com.

Saving and Spending Do’s and Don’ts

WJ Interests, LLC

How you handle saving and spending are two of the most important components in determining your financial health. The following are a just few ideas on how to build your nest egg without sacrificing everything:

•Have a plan for how you will use “found money,” such as an inheritance or bonus. Some of it may go to taxes, but divide the rest into savings, vacations, gifting, etc. Having a plan means you will be more likely to follow through on your goals, rather than seeing the money evaporate over time.

•Use your 401(k) as a lender of last resort. Borrowing from it can lead to harsh tax consequences in the future, not to mention depleting your retirement savings.

•Allow for impulse spending in your budget, within reason. Sometimes we get that “buy itch” that doesn’t fit into a regimented financial plan. There is nothing wrong with this, but make sure it fits into an affordable lifestyle.

WJ Interests, LLC, provides fee-only financial planning and
asset management services. For information: wj@wjinterests.com or 281-634-9400.

This Economy Presents Unique Opportunities

Bank of Texas

Reports regarding the declining economy and recession have filled the media and have likely crossed your desk in great volume. We understand that we must recognize the realities of the current economic environment and respond accordingly. In fact, the down economy also presents unique opportunities that are positive for business owners.

For example, the low prices of the stock market are an opportunity to strategically invest and grow your personal and business wealth. Additionally, there is an increasing pool of top talent available for recruitment should you be considering adding talent to your business team. It ’s time to find ways to take advantage of the economic disruption and become more competitive.

This is a good opportunity to learn more about products and services that can help your company run more efficiently. Take this opportunity to meet with your banker today to discuss current and future plans for both your personal and business needs.

It is the perfect time and opportunity for the strategic business owner to get ahead. Please contact Frank Yonish at 713-578-3556. fyonish@bankoftexas.com

What’s All the Fuss About Community Banking?

Bank of Fort Bend

“Community Banking” is a term we’re hearing more of in recent years, but what exactly does it mean? Essentially, a community bank is simply a stand-alone bank or small group of banks in a particular locale, with staff who are involved the local area and with a focus on business and consumers in the local area.

Larger regional or national banks may have a presence in a local area, but typically these locations are functionally designed more for deposit-gathering activities There may be loan activity at these large-bank locations, but typically loan requests are formatted and forwarded to a central processing area, usually in another location, for approval based on a standardized scoring system. This larger bank system is usually fine for many borrowers, but what if the borrower ’s situation is a bit unusual or doesn’t fit a particular box?That’s where the community bank comes in: decisions are usually made on site, where the bank president or other decision-maker can meet the borrower face-to-face, discuss the specific situation, and get a better understanding of the borrower ’s needs and issues.

In addition to lending decision flexibility, there are also differences in customer service issues. The larger regional and national banks, particularly the ones that are publicly held, are highly focused on efficiency of operations, which means reducing expenses as much as possible.

The easiest way for them to do this is to consolidate not only the lending decision function, but the customer service function, into regional centers. This does indeed make for a more efficient operation expense-wise, but unfortunately for the customer, the decision-making function is further removed from the customer, and is also understandably less flexible. For these reasons, the trend in both business and consumer banking, at least for small-to-middle-market customers, is toward community banks.

That’s why I made the switch!

Call 281-276-1802 today.

The Credit Union Difference

First Community Credit Union

Despite what you have heard about the financial market,
First Community is safe, secure and still lending. At first glance, credit unions look a lot like banks. Both offer loans, savings, checking services and business accounts. But that ’s where the similarities end.

Credit unions are not-for-profit cooperatives where YOU are a part owner. Unlike banks, their earnings are returned to YOU in the form of better rates, better services and lower fees. Credit unions provide a secure financial choice for all consumers.

They’ve provided financial services to the community for over 55 years, and they’ll be here for YOU. At First Community, YOU are a person not a number. Their FIRST priority is YOU. Isn ’t it time your financial needs are met in a FIRST Rate way? First Community was voted the No. 1 bank in Fort Bend County two years in a row. Think First. ® Experience personal and business solutions that are tailored to fit your needs and exceed your expectations! Click to fccu.org and discover a First-Rate financial difference.

3400 Hwy. 6 South near Williams Trace.