Smart About Money: Can I get a mortgage or home equity line if I’m retired?

Writing in The Wall Street Journal’s Wealth Management Report, retired senior editor Carol Hymowitz said there is “no single road map or retirement plan” these days. She seemed to wish there was.

Was there ever a “single” tried & true retirement road map? Possibly it may have seemed that way. 65 used to be “retirement age.” Today 65 is just another number. Some people are retiring much earlier than 65. Others don’t want to ever retire. If there was a “cookie-cutter,” it’s long gone now. Which is a good thing.

Get out of debt … and spend less!

Canton Co-operative Bank VP/Senior Loan Officer Anabela Vargas saw on Facebook that a friend had posted they had “evicted SallieMae!” Meaning they had paid off their college loans and were now free of that debt.

“Many people – especially younger people – believe it’s impossible for them to get out of debt. But that’s not true,” Anabela Vargas said.

Canton Co-operative rings bell for the Salvation Army on Wednesday, December 11th

$1000 was raised for the Salvation Army by the customers and friends of Canton Co-operative Bank on Wednesday, December 11th. Thank you to everyone who contributed!

Smart About Money: But what if the world doesn’t end?

In Martin Scorsese’s “American Masters” documentary about Bob Dylan, Dylan recalls how as a boy he and his classmates had to practice getting under their desks in case of a nuclear attack.

According to Dylan, “Our reality was fear that at any moment this black cloud would explode and everybody would be dead. We grew up with all that.”

3rd Annual “Pie Day” was the best one yet!

2019 Holiday Hours, Holiday Happenings and Holiday Gift Ideas

HOLIDAY HOURS
Christmas and New Year’s Day are on Wednesdays this year and the Bank will be closed. Online & Mobile Banking, telephone banking and ATMs are available 24/7.

FYI – Canton Co-operative Bank will close at 12 noon on both Christmas Eve, Tuesday, December 24th and New Year’s Eve, Tuesday, December 31st.

Smart About Money: When the bank won’t make you whole …

One of the biggest misconceptions about banks involves bank insurance. Specifically, many people believe that the FDIC and SIF insurance they hear so much about covers them for various kinds of losses, sort of like an insurer of last resort.

And if the bank insurance won’t cover them, surely the bank will, right?