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McHenry Savings Bank

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Image College Graduates
6 Smart Money Moves for New College Graduates

September 7, 2022

More than 43.3M college graduates began their career owing more than $37,000 in student loans in 2022. Considering the additional living expenses they’ll soon face combined with the crippling effects of today’s inflation, new college graduates would be wise to focus on their financial future right now.

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Image Predicting Financial Markets
Why predicting financial markets is a losing proposition

August 23, 2022

There probably has never been a shortage of people willing to forecast what will happen in financial markets - today’s communication tools simply amplify their presence and widen their distribution. In times of turmoil, these pundits seem to shout louder and exude boundless confidence in their positions.

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6 Ways Small Businesses Benefit our Local Community
6 Ways Small Businesses Benefit our Local Community

August 9, 2022

Small businesses are the heart of our country, and they give back to the local economy in more ways than one. McHenry Savings Bank (MSB) was established in 1955, as a savings and loan bank, by a group of community like-minded people. Throughout the years, MSB grew and changed to meet the needs of...

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5 Steps to Get Prepared to Buy Your First Home
5 Steps to Get Prepared to Buy Your First Home

July 21, 2022

At first glance, most First Time Homebuyers can afford the monthly payments on their home because it is similar to what they are paying in rent. However, a barrier to homeownership is often the magnitude of the savings necessary to use for a down payment and other costs associated with buying a home.

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20 Tips to Prevent Business eBanking Fraud

May 19, 2022

We wish it wasn’t true, but we see fraud or attempts to commit fraud daily. It seems the scams never end. Making sure your business is protected from hackers and scammers isn’t that hard if you put a few best practices into place for all of your staff with access to your online banking accounts.

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Great Expectations?

Feb 9, 2022

Just about every farm owner or manager, when asked, will tell you he or she is happy with the bank. If I can personalize that for a moment: Are you happy with your bank or are you simply not unhappy? Further, is this a question even worth thinking about? If you can’t...

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This Ain’t Your Daddy’s Farm Mortgage

Aug 30, 2021

The variety of options available today to fund the purchase or re-financing of farmland would make previous generations envious. Today’s low rate environment, combined with a range of available mortgage structures, offers a remarkable array of ways to improve your…

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Convergence - Ride the Power Wave

Aug 24, 2021

Three emerging macro trends have recently started to converge, which may provide you a unique opportunity to materially improve the financial position of your farm or ranch, if you act quickly. Any one of these trends is important in its own right, but the combination…

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Flexibility with “Farm” Financing

Aug 20, 2021

Do you have a small acreage farm in the country with a nice home, small barn and a few animals like a horse, a couple of goats, a few sheep and maybe some chickens? Would you like to lock in today’s remarkably low, long-term rates for as long as possible on that land?…

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Image - Identity Was Stole
My Identity Was Stolen…Now What?

Aug 3, 2021

In this digital age, identity theft can happen to anyone despite your best efforts to prevent it. If you’ve been in the unfortunate situation where your personal information has been stolen, you know how violating and frustrating it can be. The good news is there…

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Image - Open Multiple Savings Accounts
Is It Wise To Open Multiple Savings Accounts At The Same Bank To Allocate Savings?

July 15, 2021

Everyone knows it’s in your best financial interest to have both a savings and a checking account. While checking accounts are useful for daily spending and expenses, savings accounts are great for saving for larger purchases and investments that you may need more…

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Financial Literacy for Your Children

June 17, 2021

As a child transitions into their teen years, it is imperative they develop an early understanding of their personal finances. This discussion and lesson too frequently emerges as they graduate high school and enter the workforce or attend a college, where their…

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