Erratic Work Hours Are Highly Disruptive To Job And Home Responsibilities

 

Staten Island business bank notes survey's admonitions of burdensome impact

 

STATEN ISLAND, N.Y. – The first nationwide survey of its kind assessing work schedules has found dramatic evidence of instability among employees who are subject to unpredictable timing.

Victory State Bank, Staten Island's only community-based commercial bank, says this challenge to even the best workers could erode their juggling of work and home responsibilities.

When work schedules are unpredictable, family and school routines suffer because employees re-shuffle meals, homework and bedtimes around variable work hours, the University of Chicago found.

A dramatic revelation was that almost half of young workers receive their work schedules with one week’s notice or less.

Such prevalence shows how widespread volatile scheduling has become.

A schedule's unpredictability and fluctuating hours are not limited to the bottom of the labor market.

Even at the upper end, about a third of professionals, business staff and technicians say their employer decides the timing of their work without their input, the researchers said.

The survey found that more than 25 percent of these workers receive their work schedules with one week’s notice or less, and more than 75 percent of early-career workers in these upper tier occupations reported work-hour fluctuations of at least 30 percent during the interval studied.

The precarious pattern was found across the labor market among early-career workers, but especially among minorities and those who work part-time or are paid by the hour.

Fluctuations in scheduling are particularly common in low-wage occupations where the variability makes it difficult to predict earnings week-to-week, according to the study.

For example, food service workers almost universally experience wide work-hour fluctuations, varying on average by what amounts to 68 percent of usual work hours.

Half of retail workers learn about their work schedule with one week’s notice or less, and half of janitors and housekeepers report that their employer completely controls the timing of their work.

 

About Victory State Bank

VSB Bancorp, Inc. (OTCQB: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online at www.VictoryStateBank.com.

Media Contact: 

Relevant Public Relations, LLC

Headquarters: 718‑682‑1509

Mobile: 917‑715‑8761

Email:  This email address is being protected from spambots. You need JavaScript enabled to view it.

  

Business Bank On Staten Island Advises Caution When Buying Gift Cards on Auction Websites

 

Shopping online is convenient, but don’t forget about the risks.

Victory State Bank is urging consumers to proceed with caution when purchasing any new product or gift card on an auction- or classified-advertisement site where the price is significantly lower than any sale prices in retail outlets.

According to a warning issued by the FBI and Internet Crime Complaint Center (IC3), many of these sellers, especially for gift cards and tickets have purchased these items with a stolen credit card.

Most likely, the gift card or ticket will be deactivated by the time the recipient uses the card or ticket.

Never provide credit card numbers, bank account information, personally identifiable information or wire money to a person who advertises items on these sites at a too good to be true price.

Many times, fraudsters will post a popular item to obtain this information, and the goods will never be mailed, but your card or identity will be used fraudulently later. If you make a purchase from these sites, we encourage you to check a seller’s ratings and feedback to ensure he or she is reputable.

 

 

About Victory State Bank

VSB Bancorp, Inc. (OTCQB: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank.  For additional information, Victory State Bank may be reached at 718-979-1100 or visited online at www.victorystatebank.com.

Media Contact:  

Relevant Public Relations, LLC

Headquarters: 718‑682‑1509

Mobile: 917‑715‑8761

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

 

Victory State Bank Applauds Court Order Requiring

Scammers To Pay More Than $25M In Consumer Refunds

 

Staten Island commercial bank shines light on successful FTC motion

 

Victory State Banks is hailing the decision of a federal district judge who has ordered a business opportunity company and its president to pay more than $25 million in refundsto consumers. The recipients of the  refunds are consumers who were conned with bogus claims that they could earn substantial income working at home.

In granting the FTC’s motion for summary judgment, the court found that more than 99.8 percent of the 110,000 consumers affected by the scheme earned no money.

The Department of Justice brought the case on the FTC’s behalf in 2012 as part of “Operation Lost Opportunity,” an effort by the Consumer Protection Working Group of the Financial Fraud Enforcement Task Force to stop scams falsely promising jobs and opportunities to be your own boss to unemployed or underemployed consumers.

“The court’s order shows there are serious consequences for business opportunity marketers who invent earnings claims and fabricate stories about eager customers,” said Jessica Rich, Director of the FTC’s Bureau of Consumer Protection. “As long as scammers keep making false claims, we’ll be working with our law enforcement partners to stop them.”

The court found that the Zaken Corp. and Tiran Zaken violated the FTC Act and the FTC’s Business Opportunity Rule, which requires business opportunity sellers to provide specific information to help consumers evaluate a business opportunity. The defendants had claimed that, for a fee of $148 or more, their “QuickSell” program would help consumers find businesses with excess inventory to sell, and that they would find a buyer for the inventory and pay consumers half the sales price. They also had falsely claimed consumers would earn at least $4,000 or more in the first 30 days and, on average, $4,280 per deal.

Once consumers bought the program, they were inundated with ads to buy more business “tools” that cost hundreds or thousands of dollars. Consumers were encouraged to spend an extra $2,300 if they were serious about making money. Those who made the additional investment received only a directory of defunct companies’ telephone numbers.

On September 18, 2014, the U.S. District Court for the Central District of California permanently banned the defendants from advertising or selling work-at-home or other business opportunities and entered a $25.4 million judgment for consumer redress against them. The court issued a final order for permanent injunction on October 21, 2014.

 

 

About Victory State Bank

VSB Bancorp, Inc. (OTCQB: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank.  For additional information, Victory State Bank may be reached at 718-979-1100 or visited online at www.victorystatebank.com.

Media Contact:  

Relevant Public Relations, LLC

Headquarters: 718‑682‑1509

Mobile: 917‑715‑8761

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

 

Staten Island Commercial Bank Echoes FTC Advice

On Avoiding Ebola-Related Charity Scams

 

STATEN ISLAND, N.Y. -- The Federal Trade Commission is educating consumers about protecting against charity scams related to Ebola.

According to the Centers for Disease Control and Prevention (CDC), the unprecedented Ebola epidemic in West Africa has taken the lives of more than 4,000 people. Many people are asking how they can help.

If you’re looking for a way to give, Victory State Bank urges you follow the advice of the FTCL: Do some research to ensure that your donation will go to a reputable organization that will use the money as promised.

If you’re asked to make a charitable donation, consider these tips from the FTC:

 

Donate to charities you know and trust.

You want to find a charity with a proven track record. The CDC Foundation, a nonprofit organization established by Congress, has a Global Disaster Response Fund that supports the CDC’s work in West Africa.

 

Be alert for charities that seem to have sprung up overnight in connection with current events.

 “Look alike” websites resembling legitimate charitable organizations and international aid efforts are popping up. Check out the charity with the Better Business Bureau's (BBB) Wise Giving Alliance, Charity Navigator, Charity Watch, GuideStar, IRS Select Check, or Foundation Center.

 

Ask if a caller is a paid fundraiser, who they work for, and what percentage of your donation goes to the charity and to the fundraiser.

If you don’t get a clear answer — or if you don’t like the answer you get — consider donating to a different organization.

 

Don’t give out financial information — including your credit card or bank account number — unless you know the charity is reputable.

 

Never click on links or open attachments in emails unless you know who sent it and what it is.

Opening attachments — even in emails that seem to be from friends or family — can install malware on your computer.

Verify the origins of any email or text messages soliciting donations for Ebola aid efforts.

  

Don’t assume that charity messages posted on social media are legitimate or have been vetted.

Research the charitable organization yourself.

 

When texting to donate, first confirm the number with the source.

The charge will show up on your mobile phone bill, but be aware that text donations are not immediate. Depending on the text message service used by the charity, it can take as much as 90 days for the charity to receive the funds.

 

Never send cash.

You can’t be sure the organization will receive your donation, and you won’t have a record for tax purposes.

 

Think about how you want your donation used, and make sure that the charity you choose engages in those activities.

For example, do you want your donation to support research, direct patient aid, aid in a specific country, providing medical supplies to caregivers, or helping orphans? If your charity of choice engages in multiple programs, consider designating your gift for the program you want to support. By designating your gift, you’ll ensure that your donation will be used as you intended.

 

Find out if the charity or fundraiser must be registered in your state by contacting your state attorney general or secretary of state.

You can find a link to that office at the National Association of State Charity Officials.

 

 

About Victory State Bank

VSB Bancorp, Inc. (OTCQB: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank.  For additional information, Victory State Bank may be reached at 718-979-1100 or visited online at www.victorystatebank.com.

Media Contact: 

Relevant Public Relations, LLC

Headquarters: 718‑682‑1509

Mobile: 917‑715‑8761

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

 

  

Credit-Card Use Predicts Financial Acumen

Staten Island business bank cites findings in economists' revealing survey

 

STATEN ISLAND, N.Y. – People who think they are pretty savvy about how they use credit cards likely are also astute about other financial matters, like investments, retirement planning and decisions on mortgages.

Victory State Bank, Staten Island's only community-based commercial bank, says survey findings pointing to this conclusion regarding self-confidence can be instructive.


Two University of Nebraska-Lincoln economists surveyed some 27,500 credit-card users nationwide to find out how much they know vs. what they think they know when it comes to credit cards.


From the results, it could be inferred that managing credit cards is but a small part of a larger sense of financial understanding.


Predictably, in the survey those who had high knowledge of finance – and were aware of that – managed their credit cards most competently.


But the economists also found that a person’s perception of having financial knowledge mattered as much or more in how they treated their cards.

“Before beginning, we hypothesized two possibilities: people would be over-confident and this would lead them to make bad decisions or that people need confidence to act on the knowledge they possess,” Sam Allgood, one of the researchers, said. “Our study suggests that it is the latter.”


The survey measured five behaviors: Paying credit card bills in full; carrying a credit card balance; paying just the minimum; paying late fees; and exceeding a card’s limit.


Among the results, Americans who truly are financially savvy and know it are 15.5 percent more likely to pay their credit card bills in full compared to people with the same level of financial knowledge, but who perceive themselves as not having a high financial expertise.


Conversely, those described as the low self-perceivers are 15 percent more likely to carry a monthly balance, 12 percent more likely to pay the minimum each month, 11 percent more likely to incur a late fee and 6 percent more likely to exceed their spending limits.


“You must have actual knowledge to make good personal financial decisions,” Allgood said in a statement,” but people are not willing to act on that knowledge unless they also perceive themselves to be knowledgeable.”

 


About Victory State Bank

VSB Bancorp, Inc. (OTCQB: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online at www.VictoryStateBank.com.

Media Contact: 

Relevant Public Relations, LLC

Headquarters: 718‑682‑1509

Mobile: 917‑715‑8761

Email:  This email address is being protected from spambots. You need JavaScript enabled to view it.