The summer months mean many kids in America are working for some extra cash in their pocket. Whether he or she is doing odd jobs around the house or working at the local pool, it’s the perfect time to teach your child financial lessons that will last a lifetime.

It’s never too early to begin teaching children the basics of finance. We encourage parents to expose their children to experiences like visiting the bank, budgeting and paying bills.

Here’s some examples of teachable moments to help you get started:

• At the bank. When you go to the bank, bring your children with you and show them how transactions work. Get the manager to explain how the bank operates, how money generates interest and how an ATM works.

• On payday. Discuss how your pay is budgeted to pay for housing, food and clothing, and how a portion is saved for ...

So you are looking for your dream home. Did you know your credit score will affect your ability to qualify for the best home loan rates and home loan products? Specifically, a lower credit score might lead to:

1. A higher interest rate


2. Higher closing costs


3. Higher private mortgage insurance (PMI)

The History of Credit Scoring

The credit scoring system used today was designed in the 1950s to help lenders determine how well consumers can repay a loan in a timely manner. Over the decades, laws have been enacted to establish and maintain transparent credit scoring and reporting practices.

For example, the Fair Credit Reporting Act in 1971 established guidelines for fair practices regarding the use of credit scoring. In addition, the Fair and Accurate Credit Transactions Act ...

First Reliance Bank announces the addition of Tracey Hill as director of treasury services. In this role, Hill will be responsible for developing and managing the bank’s commercial deposit relationships across the bank’s footprint. A certified treasury professional (CTP), Hill’s background includes close to 30 years of experience in treasury management, operations and sales with banks located in Charlotte, N.C. In addition, his experience includes the formation of a treasury services platform for a community bank, which provided him the unique perspective from the ground up on how to design and implement cash management solutions for small businesses. “Experienced treasury service bankers like Tracey are a trusted resource for our business customers,” said David Barksdale, North Carolina president, First Reliance Bank. “He is extremely knowledgeable about the available banking products and skilled at identifying the most effective options for managing cash. Tracey’s ‘do what it takes’ mindset to customer service ...