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At Union Bank, we think making investing accessible to everyone, regardless of your background or experience. That’s why we’re excited to launch our next generation investment management app! This easy-to-use app makes managing your investments simple, approachable and enjoyable. In fact, you can start investing with as little as 10 dollars and it only takes about 4 minutes to get set up, right from your phone, tablet, laptop or PC.  This exciting new tool is available to all Union Bank customers who are enrolled in online or mobile banking with checking or savings accounts.

Investing is more than just crunching numbers; it’s a way to reach your financial goals, secure your future, and make your hard-earned money work for you. We know that the world of investing can be intimidating, filled with confusing terms and complicated ideas, especially if you’re new to it. Whether you’re curious about stocks, bonds, or other ways to invest, we’ll break down the complex language into words that make sense to you. You’ll see that investing isn’t just for financial experts on Wall Street; it’s for regular people like you, who want to grow their savings and fulfill their dreams.

Types of Investments

Asset

An asset is something valuable that you own, like money in the bank, a house, or stocks. It can make you money or be sold if you need cash.

Asset Allocation

Asset allocation is like planning a meal. You don’t want only one type of food; you want a mix. In investing, it means spreading your money across different types of assets like stocks, bonds, and real estate to balance risk and reward.

Bond

A bond is like lending money to a friend, but in this case, it’s to a company or government. They promise to pay you back with interest after a certain amount of time.

Dollar Cost Averaging

This is a way to invest by buying a fixed dollar amount of something like stocks regularly, no matter if prices are high or low. It’s like buying groceries on sale sometimes and full price other times, but always spending the same amount.

Exchange-Traded Fund (ETF)

An ETF is a basket of different stocks or bonds that you can buy and sell like a single stock. It’s like buying a fruit basket instead of individual fruits, giving you a variety.

Growth Stocks

Growth stocks are shares in companies that are expected to grow quickly. It’s like betting on a young athlete who might become a star.

Index Fund

An index fund is like an ETF, but it tries to match a specific group of stocks or bonds, like the top 500 companies. It’s like copying a successful recipe.

Mutual Fund

A mutual fund is a pool of money from many people, managed by professionals. It’s like a potluck dinner where everyone brings a dish, and everyone gets to eat.

Portfolio

Your portfolio is everything you’ve invested in, like all the different assets you own. Think of it as your financial garden with various plants.

Real Estate Investment Trusts

This is a way to invest in real estate like malls or apartments without having to buy the whole building. It’s like owning a small part of a big property.

Return

Return is the money you make or lose on an investment. If you buy an item for $10 and sell it for $15, your return is $5.

Security

A security is a fancy name for any investment like stocks, bonds, or mutual funds.

Stock

Stock is a piece of a company that you can buy.

• • Common Stock: This is like being a regular member of a club. You get a say in big decisions, but if the club closes, others get paid before you.
  • Preferred Stock: This is like a VIP membership. You might get paid before regular members, but you don’t get as much say in decisions.

Share

A share is just one piece of stock in a company. If a company is a pie, a share is a slice.

General Investing Terms

Averaging Down

If you buy a stock and its price goes down, averaging down means buying more at the lower price. It’s like getting more of your favorite snack when it’s on sale to lower the average price you paid.

Bear Market

A bear market is when stock prices are falling, and people are worried they’ll keep falling. Imagine a bear swiping down with its paw; that’s what the market is doing.

Bull Market

A bull market is the opposite of a bear market. It’s when stock prices are going up, and people are optimistic. Think of a bull charging forward; that’s what the market is doing.

Capital Gain

Capital gain is the profit you make when you sell an investment for more than you paid for it. If you buy a bike for $100 and sell it for $150, your capital gain is $50.

Compound Interest

Compound interest is like a snowball rolling down a hill, getting bigger as it goes. You earn interest on the money you save, and then you earn interest on that interest, so it grows faster.

Diversification

Diversification is like eating different kinds of food to stay healthy. In investing, it means spreading your money across different types of investments so that if one does poorly, the others might do well.

Dividend

A dividend is a part of a company’s profits paid to shareholders. If you own stock in a company that makes money, you might get a small piece of that money as a dividend.

IPO (Initial Public Offering)

An IPO is when a company sells its stock to the public for the first time. It’s like a grand opening sale for a new store.

Large-Cap Stocks

Large-cap stocks are shares in big, well-known companies. “Cap” stands for capitalization, which is the total value of the company’s stock. Think of them as the big fish in the pond.

Liquidity

Liquidity is how easily you can turn an investment into cash. If you can sell it quickly without losing much value, it’s liquid. It’s like having a liquid drink instead of a frozen one; it’s easier to handle.

Market Capitalization

Market capitalization is the total value of all a company’s stock. It’s like the price tag for the whole company.

Market Indexes

Market indexes are like a thermometer for the stock market. They track how certain groups of stocks are doing and help people understand the market’s overall health.

Risk Tolerance

Risk tolerance is how comfortable you are with the chance of losing money on an investment. It’s like choosing a ride at the fair; some people like wild rides, and others prefer something gentler.

Small-Cap Stocks

Small-cap stocks are shares in smaller companies. They might grow quickly but can be riskier. Think of them as the small, fast fish in the pond.

Volatility

Volatility is how much the price of an investment goes up and down. If it changes a lot, it’s highly volatile. ‘If the investment has historically been very steady it has low volatility.

Retirement Products

401(k)

A 401(k) is like a piggy bank at work where you can save money for when you retire. Your employer might even put some money in there too. The money is saved before taxes, so it can grow without being taxed until you take it out.

Certificate of Deposit (CD)

A Certificate of Deposit is like putting your money in a locked box at the bank for a set time, like 6 months or 5 years. You can’t touch it until the time is up without paying a penalty, but the bank will pay you more interest than a regular savings account.

High Yield Savings Account

A High Yield Savings Account is a savings account that pays you more interest than a regular one. It’s like planting a seed in a special soil that helps it grow faster.

Individual Retirement Arrangement (IRA)

An Individual Retirement Arrangement, or IRA, is a special account where you can save money for retirement. The money can grow without being taxed, or you can pay taxes now and not later, depending on the type of IRA.

Robo-Advisor

Also known as “automated investing services,” Robo-advisors use computer algorithms and software to build and manage your investment portfolio. Robo-advisors are low-fee alternatives to financial advisors.

Rollover IRA:

A Rollover IRA is like moving your retirement savings from one piggy bank to another, usually when you change jobs. It lets you keep all the tax benefits without having to start over.

Roth IRA:

A Roth IRA is a special type of retirement account where you pay taxes on the money you put in, but not when you take it out. It’s like paying the entrance fee to a park, and then you can enjoy all the rides for free.

Take Control of your Future with Union Bank’s New Mobile Investment App

Your financial journey is just a few clicks away with our new investment management tool available to individuals with a Union Bank checking or savings account customers who are enrolled in online or mobile banking. Open the Union Bank app and you will see an investment tile next to your other accounts. Follow the prompts to enroll. It’s that easy!

At Union Bank, we’re committed to helping you grow your savings and achieve your financial dreams. Together, we can turn the complex world of investing into an opportunity that’s accessible and rewarding for everyone in our Vermont and New Hampshire communities. The Union Bank mobile app provides an investment tool for the masses! Click here to learn more about our exciting new digital investment app.

Please be advised that certain investment products, including but not limited to IRAs and 401(k)s, are not insured by the FDIC and carry the risk of potential loss of value. Before investing, always ensure you understand the associated risks and consult with a financial professional if needed.

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Spring is a great time to review your digital footprint and ensure that your cybersecurity practices are still working well. With tax season in full flow, stay safe and spring clean your physical and digital data, strengthen your passwords and keep cybercriminals at bay.

Review Your Passwords

Without strong passwords on your accounts, any other security measures you take will be less effective. If you’re using words or phrases that are easy to guess, or you’ve already had accounts exposed as part of a data breach, now is the time to update everything. You can check if any of your accounts have been compromised by visiting the Have I Been Pwned website.

Strong passwords are at least 8 characters long, although longer is better. Don’t use common phrases or easy-to-guess combinations like Password123, your name or date of birth. Try a mix of uppercase and lowercase letters, numbers, and special characters. Need something easier to remember? Try switching out common letters for other characters, like @ instead of an “a”.

Other ways to strengthen your passwords are:

• Making sure you only use each password once for different accounts and never reuse credentials across different platforms or accounts.
• Whenever you can, use multi-factor authentication to login to your accounts. This could be through FaceID, fingerprint, or an authenticator app like Duo or Google Authenticator.
• Think about using a password manager. This keeps all of your passwords safely stored, leaving you with only one master password to remember.
• Check the strength of your passwords using online tools like bitwarden’s Password Strength Tester.

Declutter Your Inbox

Email is unavoidable in our work and personal lives, but it can become overwhelming if you let your inbox get out of control. Not only can excessive emails be a source of stress, they can also become a security problem.

Make a list of every email account you have and close any that are no longer needed or in use. Create folders to store away any must-keep emails and delete anything else. Be sure to check that you have no personally identifiable information in an email, like banking information or sensitive personal details.

You should also unsubscribe from any email lists you don’t want to be on any longer. Similarly, never open an email attachment or link that you weren’t expecting to receive. This is one of the easiest ways for hackers to gain access to your accounts and computer. Always verify who a message is from before opening anything. Always keep in mind that Union Bank will never request sensitive account or personal information through email.

Finally, secure your devices with a password, PIN or other login to help protect your email. Never leave your computer or phone unattended and unlocked—a criminal could easily access your email through your device.

Scan Your Social Media Accounts

Just like with your email, take some time to go through your social media accounts and remove any that you no longer use. Check the privacy settings on each and make any changes to what is shared and with whom.

Delete any photos you no longer want accessible and remember that, even if your settings are set to friends and family only, you can’t control what someone else might share from your account.

If you encounter any suspicious accounts on social media, take action by either blocking or removing them from your friends list. Additionally, exercise caution when communicating through direct messaging as it’s difficult to verify the identity of the person on the other end. Similar to email, avoid clicking on any links that appear suspicious if you can’t verify the sender or the content of the link. Social media accounts are at risk of takeover and spoofing, so even if the sender appears to be a verified account owner, be careful as it may not be the true owner.

Smart Devices, Smarter Security

The Internet of Things

(IoT) and smart devices have undoubtedly made our lives easier and more convenient. However, the growing number of these devices has also increased the potential doors and windows for attackers to gain unauthorized access to our data. With an expected 77.1 million Smart Homes in the US by 2025, the risk of cyber security threats from these devices cannot be overlooked. Cybercriminals can and have exploited the vulnerabilities of these devices and gain access to sensitive information, such as personal data, financial information, and even control over your home’s security system. For instance, if a cybercriminal gains access to your smart thermostat, they can easily learn when you’ll be away, putting your home and possessions at risk.

It’s crucial to prioritize security for smart devices, just like on laptops and smartphones. Security measures such as setting strong and unique passwords, enabling two-factor authentication, and keeping the device firmware updated can help prevent unauthorized access. It’s also essential to be mindful of the data that you share with these devices and the apps that you use to control them. Regularly reviewing the app permissions and privacy settings can help you understand the type of data that the devices collect and how it’s being used. Don’t wait for an attack to occur; take preventative measures now to protect your home and privacy.

Delete Unused Apps

Unused apps don’t only take up space on your device, but they can also be a security risk if not updated frequently. Delete any you’re no longer using. If you have an account within the app itself, be sure to delete this first before removing the app.

Keep Your Desk Clean

A tidy desk doesn’t only equal a tidy mind, it’s also important for security. Keep any documents with sensitive account or personally identifiable information filed away to prevent them from becoming lost or stolen.

Any documents you no longer need should be securely shredded. Your office may hold “Shred Days” if you don’t have access to a personal shredder, or you can take your documents to a local office supply store for secure disposal.

Back up Important Data

Keeping a backup of your digital data can help you quickly recover if you become a victim of malware or ransomware. Even simply losing your device or having it stolen can create headaches without proper backups in place.

Prioritize which files you want to keep and think about how you want to back these up. You can save them in cloud-based storage systems or on a physical hard drive that’s separate from your device. Having several backups may be useful.

Make sure to back up and clear out any local files before disposing of or discarding any devices. To completely eliminate the possibility of extracting information from a device, it should be destroyed or overwritten in such a way that no data can be retrieved using forensic software. This applies to all types of devices including phones, tablets, laptops, and any other devices you may have at home. If you’re at work, check with your employer regarding any company-wide backup policies or any steps you should take to ensure the safety of your work data and files.

Keep Your Devices Updated

Do you keep important information or photographs stored on your device?  Requiring a passcode, PIN, or biometric authentication helps to ensure that your personal information remains secure.

When prompted to update your devices, don’t ignore these notifications. Operating systems are frequently updated with bug fixes and patches that help keep your device secure and personal data safe. You may also want to install anti-virus software and run frequent scans to check for any malicious activity.

Learn More About Cybersecurity Awareness at Union Bank!

At Union Bank, keeping your data and finances safe is our priority. Learn more about cybersecurity awareness and find out how we protect our customers and community throughout Vermont and New Hampshire. Contact us with any questions about your accounts by phone, email, or stopping in at a branch.

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With many pandemic-related food relief programs ending—including increased SNAP benefits and free school lunches—as well as rising inflation and food costs, the risk of food insecurity for residents across our region is ever-growing. Across  Vermont and New Hampshire, 1 in 11 and 1 in 14 people currently face food insecurity, respectively, with numbers expected to climb even farther in the coming months.

Food insecurity, defined by the Department of Health and Human Services as the “household-level economic and social condition of limited or uncertain access to adequate food,” isn’t just about hunger. Food insecurity can have major impacts on health, education, learning, and even the economic stability of our region. It’s also something that we can all work on together to eliminate. For this post, we wanted to take the time to talk about this common issue that’s dear to our hearts, and ways in which we work with local organizations (and you can, too!) to combat it and increase access to quality, healthy food.

Local Causes of Food Insecurity in New Hampshire and Vermont

Causes of food insecurity in Vermont and New Hampshire both follow national trends, while also having some underlying origins unique to our New England region. These causes are often interconnected, making it harder to address them individually. Some local issues affecting food security include:

• Gaps in Assistance: Public assistance often doesn’t cover all food-related needs, especially in our region. As you can see on this map from the Urban Institute, the gap between benefits received and the actual cost of a meal varies from 10-50% in all counties in New Hampshire and Vermont. In other words, our region’s high cost of living (about 16% higher than the national average) reduces the impact of these benefits for qualifying families.
• Lack of Access to Food: The lack of public transit can, as the New Hampshire Fiscal Policy Institute points out, “disproportionately impact certain populations,” including low-income families. Without public transit, residents living in areas without easy-access to healthy food are dependent on private vehicles—an extra burden for low-income families. In almost every county in New Hampshire there are regions that are both low income and low access, with large swathes of the state—particularly in Northwest New Hampshire—where lack of access to a vehicle poses significant challenges. In Vermont, over 30,000 residents live in food deserts.
• Health Issues and Disabilities: Nearly 20% of households with a member who was not in the labor force due to disability had very low food security. Additionally, many older adults living on a fixed income, often limited to social security benefits, may have difficulty accessing healthy foods due to health and mobility issues, as well as lack of transportation. Nearly 10% of adults over age 60 in Vermont are considered “marginally food insecure.” 

Union Bank’s Contributions to Combating Food Insecurity

At Union Bank, we recognize that food insecurity exists in and affects every community, and we make it a priority to work one-on-one with many area organizations in an effort to reduce the impact of food insecurity and increase our residents’ access to fresh, healthy food. Here are just a few of the non-profit organizations fighting food insecurity we work with in our region:

Lamoille Community Food Share

Lamoille Community Food Share is a non-profit volunteer group dedicated to ensuring food security for everyone in and around Lamoille County, Vermont. Located at 197 Harrel Street in Morrisville, the Food Share pantry is the perfect place for families facing food insecurity to get the help they need. Visitors to the pantry can also pick up food for friends and neighbors who are unable to visit on their own.

On average, their pantry sees around 800 visits and distributes upwards of 36,000 pounds of food each month. While visits decreased during the pandemic, the pantry is continuing to see an increase of visits every week, currently at about 84% of pre-pandemic level. As Lamoille  Community Food Share writes, “Though the need remains great, we strive to remain dedicated to our mission of feeding our neighbors in need. We are so thankful for the continued support of our community, including partners such as Union Bank.”

 Salvation Farms

The mission of Salvation Farms is to bridge the gap between Vermont’s abundant agricultural surplus and those who need it most: the young, elderly, sick, incarcerated, and those facing food insecurity. Salvation Farms believes in leading by example, and works tirelessly to improve the food system and make Vermont a national leader in the effort. Their motto: “Don’t let edible food go to waste!”

Salvation Farms serves upwards of 10,000 to 12,000 individuals through providing locally-grown surplus food to more than 50 different community-based food access programs in Northeast Vermont. In 2022, Salvation Farms distributed more than 82,000 pounds (nearly 250,000 servings) of locally-grown surplus crops and gathered from local farms and distributed 3,700 plant starts, 1,370 pounds of cheese, 37 loaves of bread, and 1,290 dozen eggs. Salvation Farms collection of surplus food from local farms during 2022 was supported by 183 volunteers who contributed a combined 746 hours. Salvation Farms also makes lightly processed, frozen food from locally-grown surplus crops extending the shelf-life and increasing accessibility to our region’s agricultural abundance.

With the help of Salvation Farms, Vermont’s agricultural surplus can overcome barriers such as supply chain issues, lack of infrastructure, labor challenges, and market economics to reach those in need. As they write, “Salvation Farms greatly appreciates the years of support we’ve received from the Union Bank and consider [Union Bank] a vital community partner.”

Meals on Wheels and Lamoille Elders Networking Services

Lamoille Elders Networking Services (LENS) started its journey in 1991 with the help of a 3-year federal grant through Project Care. In 1993, it became a private non-profit organization with a mission to develop and fund new services for elders and connect them with community volunteers. Thanks to various grants, donations, and support, LENS has been able to upgrade its kitchen space and appliances, including the replacement of chest freezers with a walk-in cooler and freezer. Today, LENS serves over 40,000 meals annually and continues to be a vital organization for Lamoille’s elders.

LENS delivers, on average, 190 meals per day, five days per week, in all of Lamoille County, providing frozen meals for the weekends. LENS has over 60 active volunteers with 45 volunteer drivers delivering meals each week. Recipients of Meals on Wheels of Lamoille County rely on them for more than just a meal. Meals on Wheels visits are wellness checks, provide pet food and food share bags, and grant recipients a connection with other community services. As LENS writes, “Union Bank has been a valuable community partner for more than 20 years!”

For community members who are interested in volunteering, know that volunteers are needed now more than ever. To become a volunteer, deliver meals, help at their meal site, or become a board member contact Nicole for more information: meals@mowlc.org or 802-888-5011 ext.1.

Join in the Fight against Food Insecurity

Universal access to fresh, healthy food is essential to the wellbeing of our communities in Vermont and New Hampshire. As many pandemic-era relief programs are coming to an end, it’s more important than ever to support area organizations who have been critical in protecting our residents from the worst outcomes of food insecurity.

At Union Bank, we’ve been a part of your community since 1891, partnering with dozens of charitable organizations in Lamoille County, Caledonia County, Franklin County, Washington County, Chittenden County, and throughout Northern New Hampshire. We know that being a community bank means more than simply providing financial services—it means doing our part to support and uplift the communities we serve.

Stop by one of our 19 branches to learn more about how you can help fight food insecurity in our communities.

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