News Room
Scott Foster Joins the Investment Team at Asheville Savings Bank
Contact: Alicia Hammonds, Publicis
317-639-5135, alicia.hammonds@publicis-usa.com
Asheville, NC (Feb. 11, 2010) – Asheville Savings Bank is proud to announce Scott Foster, financial advisor, has joined the UVEST Financial Services team, the bank’s investment partner. Foster will be joining Financial Advisor Jim Laughlin and Administrative Assistant Olivia L. Gash to provide businesses and individual customers with superior investment strategy.
Foster joins ASB with more than 20 years of financial experience. His main office is located at the Hendersonville branch, but he will also serve the Brevard, Enka, Fletcher, West Asheville and Reynolds Banking Centers.
“Scott’s experience and talent are an asset to the investment department, and will enhance the ability of ASB to help families and businesses manage their financial goals,” Laughlin said. “It is our job to guide people through their financial options and tailor a plan that will prepare them for the future.”
Through ASB’s partnership with UVEST Financial Services, an affiliate of LPL Financial, ASB customers are offered an array of financial tools, including mutual funds, equities, estate planning, stocks, bonds, trust services and retirement plans.
For information on ASB investment services visit www.ashevillesavingsbank.com or call 828.250.8441 to schedule a free Financial Checkup.
About Asheville Savings Bank
Asheville Savings Bank, chartered in 1936, has 13 offices with 168 employees in the counties of Buncombe, Henderson, McDowell, Madison and Transylvania in western North Carolina. It is the oldest, locally managed, independent financial institution in Buncombe County. On December 31, 2009, the bank had assets of $749 million.
About UVEST
UVEST Financial Services (UVEST) is a premiere provider of third-party brokerage services, delivering customized solutions in a consultative environment to financial institutions across the United States. UVEST is a registered broker dealer and is a FINRA/SIPC member firm. For more information, visit www.uvest.com.
UVEST is an affiliate of LPL Financial.
LPL Financial is one of the nation’s leading financial services companies and largest independent broker/dealer*. Headquartered in Boston, San Diego, and Charlotte, LPL Financial and its affiliates offer industry-leading technology, training, service, and unbiased research to financial advisors, financial institutions, and institutional clearing and technology subscribers.
Securities and insurance products are offered by UVEST Financial Services and its affiliates, member FINRA/SIPC. UVEST Financial Services and (insert financial institution name) are independent entities.
Investment products are not (FDIC/NCUA) insured, not bank guaranteed, and may lose value.
*Based on total revenues, Financial Planning Magazine – June 1996-2008.
Asheville Savings Bank Provides Transaction Account Guarantee Program
Contact: Alicia Hammonds, Publicis
317-639-5135, alicia.hammonds@publicis-usa.com
Asheville, NC (Feb. 3, 2010) – Asheville Savings Bank is proud to announce that they have committed to continue participation in the Transaction Account Guarantee Program (TAGP) offered by the federal government. As part of the program, deposits to non-interest bearing transaction accounts will be fully insured and guaranteed, above the basic $250,000 coverage already offered through the FDIC.
For individuals and businesses requiring additional coverage for more than the standard FDIC guaranteed amount, Asheville Savings Bank, in conjuction with the FDIC, will provide the extra deposit insurance to ensure account balances are protected. While more than 1,000 FDIC member financial institutions have opted out of this program, Asheville Savings Bank plans to continue participation in the TAGP until the extended date of June 30, 2010.
Asheville Savings Bank believes that its customers’ financial security is top priority. For more information on the TAGP please contact your local Banking Center for assistance.
About Asheville Savings Bank
Asheville Savings Bank, chartered in 1936, has 13 offices with 168 employees in the counties of Buncombe, Henderson, McDowell, Madison and Transylvania in western North Carolina. It is the oldest, locally managed, independent financial institution in Buncombe County. On December 31, 2009, the bank had assets of $749 million.
Benefits of Using a Health Savings Account (HSA)
Contact: Alicia Hammonds, Publicis
317-639-5135, alicia.hammonds@publicis-usa.com
ASHEVILLE, NC (Jan. 28, 2010) – As you begin saving in the New Year, it is important to understand all the available tools and options to meet your goals. A growing concern in today’s economy is health expenses. The cost of health care is rising and has caused some companies to offer high deductibles, which have a low premium payment. These plans can be partnered with a Health Saving Account (HSA) to lower the cost of health care.
An HSA is a tax-free savings account that can be used on qualified health expenses for people with high-deductible insurance plans. Withdrawals from HSA funds for qualified medical expenses are tax-free and are deposited pre-tax. Money in an HSA does not expire and rolls over from year-to-year.
An HSA is sometimes provided by employers, but can be opened at your local Asheville Savings Bank. To be considered for an HSA account, you must have a qualifying high-deductible insurance plan. Your insurance agent or tax advisor can help you determine if an HSA is right for you.
For more information on HSAs or other savings tools, please contact your local Asheville Saving Bank branch.
About Asheville Savings Bank
Asheville Savings Bank, chartered in 1936, has 13 offices with 168 employees in the counties of Buncombe, Henderson, McDowell, Madison and Transylvania in western North Carolina. It is the oldest, locally managed, independent financial institution in Buncombe County. On December 31, 2009, the bank had assets of $749 million.
Asheville Savings Bank Can Explain New IRA Conversion Guidelines
Contact: Alicia Hammonds, Publicis
317-639-5135, alicia.hammonds@publicis-usa.com
Asheville, NC (Jan. 28, 2010) – The time is now to convert an Individual Retirement Account (IRA) to a Roth IRA and Asheville Savings Bank can help.
On January 1, 2010 the modified adjusted income level restriction was removed allowing all taxpayers, regardless of income level, the chance to convert their Traditional IRAs to Roth IRAs. Previously, those with a maximum adjusted gross income of $100,000 for a married couple filing taxes separately could not convert to a Roth IRA.
The tax restrictions for a Traditional IRA require Individuals to pay taxes on withdrawals for both principal and interest. For a Roth IRA, after-tax dollars are contributed, so contributions are not tax deductible, however earnings may be tax-free when withdrawn. This benefits those who believe they will have a higher tax bracket when withdrawing from the account, which allows investors to pay taxes on contributions at the lower tax rate when contributing the money.
For those that believe they will be in a lower tax bracket when withdrawing money from the account should consider remaining with the traditional IRA.
The experts at Asheville Savings Bank can explain the details of IRAs and answer any questions.
About Asheville Savings Bank
Asheville Savings Bank, chartered in 1936, has 13 offices with 168 employees in the counties of Buncombe, Henderson, McDowell, Madison and Transylvania in western North Carolina. It is the oldest, locally managed, independent financial institution in Buncombe County. On December 31, 2009, the bank had assets of $749 million.
Make a Donation through Coinstar at Asheville Savings Bank and help the Survivors of the Haiti Earthquake
Contact: Alicia Hammonds, Publicis
317-639-5135, alicia.hammonds@publicis-usa.com
ASHEVILLE, N.C. (January 20, 2010)—Asheville Savings Bank (ASB) and Coinstar are making it easy for people to donate money to the victims of the Haiti earthquake through a special UNICEF fund.
To make a donation at the Coinstar machine, select Donate and choose the Haiti Fund logo. Each donor will receive a receipt for tax purposes. Your donation will help those in need receive essential supplies. For questions or concerns please contact your local Asheville Savings Bank location.
Asheville Savings Bank locations with Coinstar machines are as follows:
Enka-Candler
907 Smoky Park Hwy, Candler, NC 28715
828 667-4200
Marion
162 North Main St., Marion, NC 28752
828 652-3141
800 619-1682
Reynolds Office
5 Olde Eastwood Village Boulevard, US 74 East, Asheville, NC 28803
828 298-8711
Skyland
1879 Hendersonville Rd., Asheville, NC 28803
828 687-0774
West Asheville
1012 Patton Ave., Asheville, NC 28806
828 254-1778
About Asheville Savings Bank
Asheville Savings Bank, chartered in 1936, has 13 offices with 167 employees in the counties of Buncombe, Henderson, McDowell, Madison and Transylvania in western North Carolina. It is the oldest, locally managed, independent financial institution in Buncombe County. On September 30, 2009, the bank had assets of $749 million.
Asheville Savings Bank and OnTrack
Host a Children’s Financial Literacy Poster Contest
Contact: Alicia Hammonds, Publicis
317-639-5135, alicia.hammonds@publicis-usa.com
ASHEVILLE, N.C. (January 19, 2010) – Asheville Savings Bank (ASB) and OnTrack Financial Education and Counseling are partnering together for the 2010 Be Money Wi$e National Financial Literacy Poster Contest for students in grades 3-5. The winners of the local contest will be entered into the national campaign sponsored by the National Foundation for Credit Counseling (NFCC). The 2010 theme is “$mart Money Choices = A Brighter Future,” since starting young is one of the keys to financial success.
The contest is designed to educate young children and students on financial literacy and money management. Creating their own posters will allow students to channel their creativity, as well as illustrate their financial knowledge.
“It is a simple, creative way to introduce new financial concepts, while allowing students to be hands-on,” said Celeste Collins, OnTrack Executive Director. “This contest encourages kids to think about financial responsibility at an early age and promotes ideas that are foundational for their financial future.”
Judges will look for expression of the theme, artwork style, content and creativity in all poster submissions. Prizes will be awarded on both a national and local level. Local winners will be announced on April 27. The first place winner will receive $100; second place: $75; and third place: $50. The award presentation will also feature an appearance by mascot Dime-a-saurus.
The national winners will receive a T-shirt, an award plaque, a $500 savings bond and an all-expense paid trip with a parent or guardian to Washington, D.C. The winner will be officially recognized as part of National Financial Literacy Month celebrations in Washington, D.C. in April.
Students in grades 3-5 can submit their poster by Feb. 19 at any Asheville Savings Bank location.
For more information on the NFCC’s Annual National Financial Literacy Poster Contest, please visit their Web
site, www.MoneyWisePosterContest.org. To learn more about your local contest, visit your nearest Asheville
Savings Bank.
About Asheville Savings Bank
Asheville Savings Bank, chartered in 1936, has 13 offices with 167 employees in the counties of Buncombe, Henderson, McDowell, Madison and Transylvania in western North Carolina. It is the oldest, locally managed, independent financial institution in Buncombe County. On September 30, 2009, the bank had assets of $749 million.
About OnTrack
OnTrack Financial Education & Counseling, formerly Consumer Credit Counseling Service of WNC, is a community-based non-profit agency dedicated to helping people manage their money and credit better. Since 1973 OnTrack
has been providing professional, confidential money management counseling, education programs and debt
repayment plans. OnTrack’s service area includes Ashe, Avery, Buncombe, Clay, Cherokee, Graham, Haywood, Henderson, Jackson, Macon, Madison, McDowell, Mitchell, Polk, Swain, Transylvania, Watuaga, and Yancey
Counties. For additional information or to schedule an appointment call the OnTrack in Asheville at 255-5166 or
toll free 1-800-737-5485 or www.ontrackwnc.org.
Asheville Savings Bank Announces New Location of Branch in Mars Hill
ASB moves location to historic bed and breakfast and offers innovative dialog banking
Contact: Alicia Hammonds, Publicis
317-639-5135, alicia.hammonds@publicis-usa.com
ASHEVILLE, N.C. (October 23, 2009)—Asheville Savings Bank (ASB) is proud to announce the new location of the Mars Hill branch to 105 Main St., a historic bed and breakfast that will be renovated and open for business in spring 2010. This new location will offer ample parking for customers, two drive-up lanes for banking transactions and a drive-up ATM, as well as additional interior space for serving the customers of Madison County.
“Asheville Savings Bank is delighted to have the opportunity to relocate our Mars Hill Banking Center to this building that holds so much significance to the history of the Mars Hill community. The renovations will be completed with as few changes to the exiting building and property as possible in order to create efficiency and ease for our customers, while maintaining the character of the building.” said Suzanne DeFerie, President & CEO.
While final architectural plans are not yet completed, ASB intends to initiate dialog banking at this location, a new way of transacting business that doesn’t require teller lines and desks; thus, allowing the building to maintain its original design.
Dialog banking involves “cash recyclers,” which eliminate tellers from directly handling money. This provides a safer banking environment and allowing bank employees to interact more with customers and assist them with anything from basic transactions to loans all at one station. Overall, this style of banking provides a more customer friendly environment.
“We are excited to be one of the first banks in Western North Carolina to offer Dialogue Banking. The setup will add convenience for customers and eliminate long teller lines. Although, renovations need to be made to the historic home and the property surrounding the house, Asheville Savings Bank is doing everything possible to maintain the integrity and charm of the house, right down to the rocking chairs on the front porch,” DeFerie said.
For more information or to set up an interview with Suzanne DeFerie please contact Lisa Alford at 828-250-8499 or lalford@ashevillesavings.com.
About Asheville Savings Bank
Asheville Savings Bank, chartered in 1936, has 13 offices with 167 employees in the counties of Buncombe, Henderson, McDowell, Madison and Transylvania in western North Carolina. It is the oldest, locally managed, independent financial institution in Buncombe County. On September 30, 2009, the bank had assets of $749 million.
Asheville Savings BanK UVEST Financial Advisor Continues Education
Jim Laughlin attended LPL Financial conference to stay abreast of trends in the industry
and better serve the community
Contact: Alicia Hammonds, Publicis
317-639-5135, alicia.hammonds@publicis-usa.com
ASHEVILLE, N.C. (Aug. 31, 2009)—Jim Laughlin, Asheville Savings Bank's (ASB) UVEST financial advisor, recently attended focus09, a leading financial services industry conference hosted by LPL Financial. The conference is one of the industry’s largest educational events and took place in San Diego from Aug. 16 to Aug. 19.
Laughlin attended the conference to learn new strategies and skills, expand knowledge in numerous product areas, and gain valuable knowledge to help him continually improve the service to ASB clients.
Laughlin participated in business sessions, technology training and continuing education classes at the event. Influential speakers addressed current events and financial industry trends and included George W. Bush, 43rd president of the United States; Richard Ketchum, CEO of FINRA; and Ron Insana, CNBC senior analyst.
About Asheville Savings Bank
Asheville Savings Bank, chartered in 1936, has 13 offices with 178 employees in the counties of Buncombe, Henderson, McDowell, Madison and Transylvania in western North Carolina. It is the oldest, locally managed, independent financial institution in Buncombe County. On June 30, 2009, the bank had assets of $743 million.
