Boosting Workers' Financial Wellness

Staten Island business bank lauds practices to help employees

 

STATEN ISLAND, N.Y. – Employers are getting federal encouragement to help jobholders improve not only their financial lives but also their productivity.

Victory State Bank, Staten Island's only community-based commercial bank, favors the move to show managers how a more satisfied workforce can be beneficial. 

The Consumer Financial Protection Bureau (CFPB) has assembled case studies about employees' financial wellness. 

Its examples describe ways that employers can help workers develop the skills to avoid distress in an increasingly complicated financial marketplace.

The CFPB cites research that indicates widespread financial concern across the American workforce, with a resulting negative impact on work performance. 

Decreased productivity, higher absentee rates, and even health are ways that workers -- and then employers -- can be affected.

Financial wellness guidance, on the other hand, can help employees plan life goals and make responsible financial decisions, the CFPB reported.

The Bureau said it found that many businesses believe financial wellness programs generate greater engagement, loyalty and productivity. Some of the promising practices that best support financial wellness include:

The "Financial Wellness at Work” report can be found at: consumerfinance.gov/reports/financial-wellness-at-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.

Begin at orientation: When employees are new to a company, they are generally more open to change. As a result, this can be a good time to work on financial wellness priorities as new employees are focused on making important decisions about tax withholding, retirement savings, and employer-offered health insurance. Successful programs that begin at employee onboarding can include financial education workshops and individual financial coaching.

Peer-to-peer support: Coworkers can help each other develop better financial habits. Work teams that go through financial wellness training together end up supporting each other and creating a more collaborative environment. As employees form small teams, they often encourage each other, and that peer support may help individuals adopt and sustain sound financial habits.

 

9 Tips For Preventing Cyber Fraud

Business Bank on Staten Island Shares Advice From FBI

  

STATEN ISLAND, N.Y. – Now that fall has arrived, Victory State Bank, Staten Island’s only community-based commercial bank, is reminding consumers and business owners to remain vigilant in protecting themselves from cyber fraud.

As the holiday shopping season draws closer, online thieves may increase their efforts to trick unsuspecting computer users out of money and personal data.

Victory State Bank suggests following these nine tips from the FBI to help avoid becoming a victim of cyber fraud:

1)    Do not respond to unsolicited (spam) e-mail.

2)      Do not click on links contained within an unsolicited e-mail.

3)      Be cautious of e-mail claiming to contain pictures in attached files; the files may contain viruses. Only open attachments from known senders. Scan the attachments for viruses if possible.

4)      Avoid filling out forms contained in e-mail messages that ask for personal information.

5)      Always compare the link in the e-mail to the link you are actually directed to and determine if they match and will lead you to a legitimate site.

6)      Log on directly to the official website for the business identified in the e-mail instead of “linking” to it from an unsolicited e-mail. If the e-mail appears to be from your bank, credit card issuer, or other company you deal with frequently, your statements or official correspondence from the business will provide the proper contact information.

7)      Contact the actual business that supposedly sent the e-mail to verify that the e-mail is genuine.

8)      If you are requested to act quickly or there is an emergency that requires your attention, it may be a scam. Fraudsters create a sense of urgency to get you to act quickly.

9)      Remember if it looks too good to be true, it probably is.

 

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 Business Bank Points To FBI Tips

 For Thwarting Terrorist Acts

 

STATEN ISLAND, N.Y.  – Victory State Bank, Staten Island’s only community-based commercial bank, encourages everyone to take part in the stand against terrorism.

With this in mind, the bank is sharing the following message from the FBI, a message that bears repeating, no matter where you live in the world: Your assistance is needed in preventing terrorist acts.

The FBI instructs us of the fact that certain kinds of activities can indicate terrorist plans that are in the works, especially when they occur at or near high profile sites or places where large numbers of people gather – like government buildings, military facilities, utilities, bus or train stations, major public events.

If you see or know about suspicious activities, like the ones listed below, please report them immediately to the proper authorities.

 In the United States, that means your closest Joint Terrorist Task Force, located in an FBI Field Office. In other countries, that means your closest law enforcement/counterterrorism agency.

Surveillance: Are you aware of anyone video recording or monitoring activities, taking notes, using cameras, maps, binoculars, etc., near key facilities/events?

Suspicious Questioning: Are you aware of anyone attempting to gain information in person, by phone, mail, email, etc., regarding a key facility or people who work there?

Tests of Security: Are you aware of any attempts to penetrate or test physical security or procedures at a key facility/event?

Acquiring Supplies: Are you aware of anyone attempting to improperly acquire explosives, weapons, ammunition, dangerous chemicals, uniforms, badges, flight manuals, access cards or identification for a key facility/event or to legally obtain items under suspicious circumstances that could be used in a terrorist attack?

Suspicious Persons: Are you aware of anyone who does not appear to belong in the workplace, neighborhood, business establishment or near a key facility/event?

“Dry Runs”: Have you observed any behavior that appears to be preparation for a terrorist act, such as mapping out routes, playing out scenarios with other people, monitoring key facilities/events, timing traffic lights or traffic flow, or other suspicious activities?

Deploying Assets: Have you observed abandoned vehicles, stockpiling of suspicious materials, or persons being deployed near a key facility/event?

If you answered yes to any of the above...if you have observed any suspicious activity that may relate to terrorism...again, please contact the Joint Terrorist Task Force or law enforcement/counterterrorism agency closest to you immediately. 

Your tip could save the lives of innocent people, just like you and yours.

The FBI’s New York City Field Office is located at  26 Federal Plaza, 23rd Floor, New York, NY 10278-0004. The office may be reached at 212-384-1000.

 

 

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.

 

Keep Important Records Safe

Staten Island business bank echoes IRS suggestions

 

Because fires and other catastrophes can strike any time, it’s a good idea to plan what to do in case of a disaster.

Victory State Bank, Staten Island's only community-based commercial bank, says IRS tips contain some useful guidance.

A recovery becomes easier when tax and financial records are safe.

Here are some basic steps from the IRS to prepare:

  

 

  1. Backup Records Electronically.  Many people receive bank statements by email. This is a good way to secure your records. You can also scan tax records and insurance policies onto an electronic format. You can use an external hard drive, CD or DVD to store important records. Be sure you back up your files and keep them in a safe place. If a disaster strikes your home, it may also affect a wide area. If that happens you may not be able to retrieve your records.
  2. Document Valuables.  Take photos or videos of the contents of your home or business. These visual records can help you prove the value of your lost items. They may help with insurance claims or casualty loss deductions on your tax return. You should store them with a friend or relative who lives out of the area.
  3. Update Emergency Plans.  Review your emergency plans every year. Update them when your situation changes. Make sure you have a way to get severe weather information. Have a plan for what to do if threatening weather approaches.
  4. Get Copies of Tax Returns or Transcripts.  Visit IRS.gov to get Form 4506 (Request for Copy of Tax Return) to replace lost or destroyed tax returns. If you just need information from your return, you can order a free transcript online or by calling 800-908-9946. You can also file Form 4506T-EZ (Short Form Request for Individual Tax Return Transcript) or Form 4506-T (Request for Transcript of Tax Return).
  5. IRS Hotline.  If you fall victim to a disaster, you can call the IRS disaster hotline at 866-562-5227 for special help with disaster-related tax issues.

 

 

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 http://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.

 

 

Staying Alert to Wire-Transfer Scams

Staten Island business bank extols virtues of vigilance

STATEN ISLAND, N.Y. – Whereas scammers have been keeping federal watchdogs busy, Victory State Bank, Staten Island's only community-based commercial bank, advises that Islanders be no less vigilant.

Everyone wants to please the boss, and this became the basis for a scam that was expensive for its victims.

In one of its frequently posted scam alerts, the Federal Trade Commission (FTC) tells of a wire-transfer request to a new vendor, as seemingly sought by a workplace boss.

It's bogus, however, because a hacker posed as the senior executive in a scheme called masquerading.

Such schemes often go undetected, the FTC says, until a company's fraud department questions it or executives talk about it. 

In some instances, a deliberate typo slightly changes a real email address to a fake one, or hackers invade the email system and post requests from genuine accounts.

Ways to prevent being victimized include a multi-person approval process, purchase orders needing a manager's approval, and confirmation that a request is from an authorized source.

Also, suspicion about the need for urgency or secrecy should be red flags, the FTC warns.

 

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.