Health Savings Accounts (HSAs) let you set aside money on a pre-tax basis to pay for qualified medical expenses. By using untaxed dollars in an HSA to pay for deductibles, copayments, coinsurance, and some other expenses, you may be able to lower your overall health care costs. HSA funds generally may not be used to pay premiums. HSA funds roll over year to year if you don’t spend them. An HSA may earn interest or other earnings, which are not taxable. Please consult your tax advisor to discuss the best options for your situation. While you can use the funds […]
Archives for 2020
Governor Sununu Announces Main Street Relief Fund for Small Businesses
Governor Sununu has authorized the allocation of $400 million in emergency funding from the CARES Act Coronavirus Relief Fund to provide emergency financial relief to New Hampshire small for-profit businesses due to the economic disruption caused by COVID-19. In order to be eligible, a business must have its principal place of business in New Hampshire and must have generated less than $20 million in revenue during the 2019 tax year. In addition, healthcare, childcare, and agriculture businesses will not be eligible for the program, as those businesses are or will be addressed through other programs. This program is administered by […]
Money Flipping Schemes On the Rise
There have been reports of a rise in money flipping schemes, targeting consumers who’ve run into financial trouble due to pandemic-related unemployment. Money flipping is an attempt by scammers to lure consumers with promises of a payout. The target of the scam is required to pay a small amount up front in order to earn a larger return on their money. Money flippers are taking advantage of today’s uncertain climate by posting about fictitious charities on social media. In their posts, they describe how they will donate money to you if you give them your banking information. The banking information […]
Participate in Our Annual Photo Contest
Sister Banks Merrimack County Savings Bank (the Merrimack), Meredith Village Savings Bank (MVSB) and Savings Bank of Walpole are launched their annual community photo contest on May 11th. Winning full color photographs will be featured on five websites: the three Banks, New Hampshire Mutual Bancorp (NHMB) and NHTrust, as well as in desktop and wall versions of printed calendars. Photos may also be selected for holiday cards and note cards. This is the third year that the contest allows for electronic submissions. To ensure the health and safety of contest participants and bank employees, all eligible entries must be submitted […]
SBA Offers Clarity for Approved PPP Borrowers Attempting to Rehire Employees
The Small Business Administration (SBA) and U.S. Treasury have developed new rulings about rehiring of employees that may help small businesses who have been approved for loans through the SBA’s Paycheck Protection Program (PPP), but are struggling to rehire furloughed or laid off employees. Launched last month, the PPP provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits. Funds can also be used to pay interest on mortgages, rent and utilities, and have the potential to be fully forgiven when at least 75% of the amount is used for payroll and employee headcounts […]
Rise in SIM Card Swapping Scams
Beware of an increase in Subscriber Identity Module (SIM) card swapping. A SIM card swap happens when a hacker pretends to be you and convinces your mobile device carrier to switch your phone number over to a SIM card that they own. A SIM card is the tiny memory chip inside a mobile device that carries an identification number unique to that owner. It stores the personal data for the owner and device. If it’s disabled or removed, your device will stop working. This swap can be easily done if the hacker has enough information to answer the security questions […]
Scammers Selling Face Masks and Paper Products
The Federal Trade Commission (FTC) is reporting a sharp increase in fraud relating to health and safety items like face masks and paper products. Since the beginning of March, many purchasers have described paying online stores for face masks and toilet paper but never receiving the products that they ordered. Scammers took their money as well as their credit card and personal information, and then ignored them by cutting off all contact and refusing to answer questions. In many cases they have even taken steps to close or deactivate their online store websites. Before ordering from an unfamiliar online store, […]
Funding for Paycheck Protection Program Renewed. Apply Now.
We are thrilled to let you know that the funding for the Paycheck Protection Program has been renewed. We encourage all of our eligible business customers who have not yet applied to do so. We reached out to all customers who applied during the first round of funding via phone and/or email with a status of your application. For those who did not meet the cut-off when funding ran out, we will be prioritizing your application as noted in our communication to you on April 15th. The Paycheck Protection Program provides small businesses with funds to pay up to 8 […]
Limits Placed on Convenient Transfers from a Savings Account Have Lifted
Great news! At a time when events around the coronavirus pandemic have made access to funds more urgent, we are excited to be able to make things a little easier for our customers. You can now make an unlimited number of convenient transfers and withdrawals from your savings account(s), without fear of incurring fees for going above six transactions in a single month. This change comes as the Federal Reserve Board issued an amendment to the regulation. Thank you FRB! We will be sure to update our website if any changes are made to this rule. Please feel free to […]
Portsmouth Regular Drive Up Hours Resume Wednesday
Our Portsmouth office will resume regular drive=up hours beginning on Wednesday, April 29th. This means that you can use the drive-up for any of your banking needs on Monday through Friday from 8:00AM through 5:30pm, and on Saturday from 8:30AM through 12:30pm. Thank you for your patience while we resolved our staffing issues.
