Used-Car Rule Protects Buyers

 

Victory State Bank points to federal demands on sellers 

 

STATEN ISLAND, N.Y. -- There may be times that you consider buying a previously owned vehicle. Before moving forward, Victory State Bank suggests you become familiar with federal guidelines that sellers must comply with.

Here are the basic points in the Federal Trade Commission (FTC) rule governing sales of used cars.

  • Know your rights.

Generally, the FTC Car Rule requires dealers (including commercial outlets, which encompass the likes of rental and leasing companies and even online sales) to display a Buyers Guide on used cars they offer for sale.

The Buyers Guide must tell you:

  • Whether the vehicle is being sold "as is" or with a warranty
  • What percentage of the repair costs a dealer will pay under the warranty
  • That spoken promises are difficult to enforce
  • To get all promises in writing
  • To keep the Buyers Guide for reference after the sale
  • The major mechanical and electrical systems on the car, including some of the major problems to look out for
  • To ask the dealer if you may have the vehicle inspected by a mechanic you hire, either on or off the lot

For additional important information, go to www.ftc.gov.

 

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.

 

 

Victory State Bank Shares Tips for Energy Efficiency

 

STATEN ISLAND, N.Y. – Victory State Bank is always eager to share advice that helps to strengthen the economic engine of Staten Island. One way to assist in the growth and stability of an enterprise is to keep a keen eye on energy costs.

As the Small Business Administration (SBA) points out: Whether you own or lease your building, you typically need lighting, heating, air conditioning, power for office equipment, and other services to stay in business.

With this in mind Victory State Bank is sharing the following energy-saving heating and air conditioning tips from the SBA:

 

 

  • "Tune-up" your heating, ventilating and air-conditioning (HVAC) system with an annual maintenance contract. Even a new ENERGY STAR qualified HVAC system, like a new car, will decline in performance without regular maintenance. A contract automatically ensures that your HVAC contractor will provide "pre-season" tune-ups before each cooling and heating season. You save energy and money, and your system may last years longer with minimal costs for yearly maintenance fees.
  • Regularly change (or clean if reusable) HVAC filters every month during peak cooling or heating seasons. New filters usually only cost a few dollars. Dirty filters cost more to use, overwork the equipment and result in lower indoor air quality.
  • Control direct sun through windows, depending on the season and local climate. During cooling season, block direct heat gain from the sun shining through glass on the East and especially West sides of the facility. Depending on your facility, options such as "solar screens," "solar films," awnings, and vegetation can help keep facilities cooler. Over time, trees can attractively shade the facility, and help clean the air. Interior curtains or drapes can help, but it's best to prevent the summer heat from getting past the glass and inside. During heating season, with the sun low in the South, unobstructed southern windows can contribute solar heat gained during the day.
  • Use fans to maintain comfortable temperature, humidity and air movement, and save energy year round. Moving air can make a somewhat higher temperature and/or humidity feel comfortable. Fans can help delay or reduce the need for air conditioning, and a temperature setting of only three to five degrees higher can feel as comfortable with fans. Each degree of higher temperature can save about 3 percent on cooling costs. When the temperature outside is more comfortable than inside, a "box fan" in the window, or large "whole facility" fan in the attic can push air out and pull in comfortable air from the outside.
  • Plug leaks with weather stripping and caulking. Caulking and weather stripping let you manage your ventilation, which is the deliberate controlled exchange of stuffy inside air for fresher outdoor air. To learn more about indoor air quality in your facility visit the Environmental Protection Agency's EPA Indoor Air Quality.

 

 

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 onlinehttp://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.

 

 

 

 

Writing a Business Plan Will Give You a Realistic Picture of Your Enterprise

 

Staten Island’s only community-based commercial bank highlights the importance of business plans

 

STATEN ISLAND, N.Y. – Are you about to start a commercial venture? Victory State Bank recommends you begin with a business plan.

Is a business plan a necessity? The U.S. Small Business Administration has said the importance of a comprehensive, thoughtful business plan cannot be overemphasized.

Many factors critical to business success depend upon your plan: Outside funding, credit from suppliers, management of your operation and finances, promotion and marketing of your business, and achievement of your goals and objectives.

Some people assume that if they are not going to seek financial support from lenders or investors to open their business that they don’t need to prepare a business plan, but every business should have one.

Writing a business plan serves as a roadmap for your venture when you’re starting out.

 

It can help you figure out many key business elements, including:

 

      • What you will need to do to get started and what resources (time, money, etc.) you will need to expend
      • What it will take for your business to make a profit and how long that will take
      • What information potential customers, vendors and investors will need to know in order for you to market your business effectively

 

Writing your business plan also forces you to think about your business objectively. When you’re done, you will have a more realistic idea of the effort it will require and whether it's a venture you want to pursue at this time.

 

Don't be intimidated

The process of sitting down and writing out a business plan could spark your creativity and lead you to new business strategies you may not have considered previously. You'll also find that having your business goals written down enables you to refer to them at any time. This will ensure you don't lose sight of your original focus once you do start your business.

 

 

 

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 onlinehttp://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.

 

 

 

Watch Out For Fake Business Opportunities, Warns Staten Island’s Only Community-Based Bank

 

STATEN ISLAND, N.Y. – Victory State Bank is urging Staten Islanders to be on the lookout for phony business-opportunity scams.

According to the Federal Trade Commission (FTC), one clue to spotting a fraudulent business opportunity may be the type of opportunity being advertised.

Fraud has most often been associated with promotions for vending machine, display rack, pay phone, medical billing, and some Internet-related businesses, explains the FTC.

The federal agency lists several other claims that have made it into the pages of legitimate papers, magazines and Websites recently:

‘Work Part-Time from Home’

Most scammers promise an ideal work situation — the ability to set your own hours, be your own boss, or work from home. In fact, this rosy scenario is far from reality for most small business owners. “Be Your Own Boss” “Own a Dealership Today”

‘Earn $2,000 a month’

 If an ad claims buyers can make a certain amount of money, the law says the promoter must give the number and percentage of previous purchasers who earned the income. If an earnings claim is there, but the additional information isn’t, ask for more information: the business opportunity seller may be violating the law. “$50K/yr” “Vending route nets $1,700/wk”

‘No risk! Guaranteed!’

Ads that promise a big payout with little or no risk are usually a telltale sign of a fraud. Legitimate business ventures involve risks — usually in proportion to the promised return. “Huge Income” “100% return on your investment!”

‘Quick and Easy!’

Successful start-up businesses, including franchises, require a lot of work to get off the ground, let alone manage. Only a few are profitable from the start. If ads promise vending locations, they may not be current or high-traffic; the merchandise also may be out-of-date or of poor quality. “Start Earning Today” “Prime locations available now”

These are examples of possibly deceptive claims. If you see them, highlight them for the appropriate person in your company. At the same time, know that many fraudulent business-opportunity promoters use more subtle language when making promises, guarantees, and claims that they can’t possibly keep.

By taking a few moments to review the claims made in business opportunity ads, you can protect the reputation of your company — and the consumers in your community.

 

 

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 onlinehttp://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.

         

  Seeking New Employees? Consider People With Disabilities

 

STATEN ISLAND, N.Y. – If you are seeking to hire new individuals for your business, Victory State Bank suggests you consider workers with disabilities.

As with most employees, workers with disabilities can add to the performance and continued success of an enterprise.

Employers can further benefit from various programs that encourage the recruitment and hiring of people with disabilities, such as tax credits that help cover the cost of accommodations for employees with disabilities.

While this is an excellent way to expand and enhance a business, owners need to comply with certain legal requirements concerning the accommodation of employees with disabilities.

If you are a new employer or new to employing people with disabilities, the U.S. Small Business Administration recommends you should start by reading the “Guide to Disability Rights Laws” (http://www.ada.gov/cguide.htm) from the U.S. Department of Justice.

The guide summarizes the major disability laws affecting employers, governments, schools and other organizations.

 

 

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 onlinehttp://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.