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How Will You Re-Engage with Your Business?

Most small businesses faced many challenges when the pandemic shut down the economy. If you’re still up and running, you should consider yourself a survivor. You found ways to adapt your business to meet your customers’ needs.

As 2021 approaches, take a moment to decide whether or not to adopt any new practices you implemented to “survive.” Here are some of the more common areas to review:

Expand Customer Payment Options.
Many businesses quickly adapted to offer contactless and mobile payment options for customers. If you were one of these companies, did you find these payment options to be profitable? Were you able to attract new customers? Are there other options available you’d like to implement in 2021?

Offer Creative Service Delivery.
With so many restrictions on in-person service, many businesses got creative in providing service to customers. Some offered curbside pick-up and expanded their delivery parameters. Others moved some of their operations outdoors or scaled up their website and mobile offerings. For example, real estate agents, mortgage lenders, and title companies worked together to provide virtual closings for homes, and it may continue to be a viable option moving forward. What modifications did you make to your service delivery in 2020? Is this a viable, sustainable option for 2021 and beyond? If not, what should you change?

Sponsor Live Stream Events.
Live streaming has allowed companies to connect with current customers and even attract new ones. There are hundreds of examples of business owners live streaming the service they would normally provide in-person. For instance, one dance studio started offering Zoom classes and expanded its fitness offerings as well. They met with students as a group and then offered individual tutoring at an affordable price. Now that things are re-opening in many parts of the country, live streaming may continue to be an essential business development tool. Have you used live streaming to help your business? If so, does it make sense to continue this effort in 2021? And can you find new and unique ways to incorporate more into what you started?

Allow Remote Working Opportunities.
Many companies immediately allowed employees to work from home, giving them the flexibility they needed to deal with their changing needs due to the pandemic. What’s happened is many businesses found that a lot of things can be done remotely and are looking to modify work schedules to meet their changing needs. If you allowed employees to work remotely, is that a viable option for 2021? Can you enable particular work to be done remotely, while other work is required at the office?

Offer New Revenue Streams.
Was there something you modified to survive in 2020? Maybe you began to offer hand sanitizer bottles or masks. Or you offered toilet paper or wipes as a giveaway. Consider whether any of these offerings are sustainable for the future. More importantly, take a look at how agile your business was in offering new revenue streams. Then look at your market to see if there is an opportunity to do something slightly different.

Keep up With Safety Measures.
Many businesses tout improved safety measures throughout the pandemic – additional cleaning, Plexiglass counters, mask and social distancing requirements, among others. Whatever you’ve done to keep your business safe, is it something you wish to continue even when it’s not required? Are there practices you’ve put into place that make sense and help customers feel more comfortable overall?

While this is not a complete list of items to review, it will help you start your 2021 planning. The more you can learn from your experience during the pandemic, the stronger your company will be in the end.

Now may also be an excellent time to discuss your 2021 plans with one of our Business Bankers. We’ll help you find ways to maximize your profit as you improve customer engagement.

Learn more about business banking at Pinnacle Bank.

 

 

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Blog Fraud & Security Safety & Security

Working from Home – Keeping Your Data Safe

Working remotely has become a necessity for many businesses over the past year. While a great way to keep your staff employed, it presents some unique challenges to information security. Consider these guidelines for you and your employees to follow:

Use Secure Wi-Fi, Hotspots or Another Way to Encrypt Your Internet Connection.
Never use public Wi-Fi to transfer sensitive data between employees or share any other personal data you may have. If your company provides cell service, consider adding a hotspot to help ensure secured Wi-Fi access wherever your employees may be.

Keep Your Computer Updated or Use a Remote Access Environment.
Typically, your company’s IT professionals keep your computers running as securely as possible. They install regular updates, run antivirus scans, block malicious websites and more. You must follow the same protocols with your personal computer to keep your work information safe. However, an even safer option may be to allow employee access to a portal or remote access environment (such as Office 365) where they work online and avoid downloading or saving files to a personal computer or other devices

Encrypt Data in Emails or on Your Device.
In some cases, you may need to send sensitive data via email. There’s a risk of doing so because it may be intercepted or viewed by a third party. But if you encrypt the attached data, it may prevent any unintended recipient from viewing your information. And be sure to set any device you use to encrypt all stored data in case of theft.

Take Precautions Against Phishing.
One of the most significant risks to company security is phishing emails. These emails will often appear to be from a trusted source, but don’t be fooled – they’re scams. Don’t open any attachments or click on any links from emails when you’re unfamiliar with the sender. And if you think an email or text is from a legitimate source and don’t feel comfortable providing the requested information, delete the email or text and call them about it. For example, Pinnacle Bank will never email or text you to ask for your personal financial information, such as your Social Security or account number.

Be Aware of Your Surroundings.
Now that some coffee shops and restaurants are open, many people may want to step away from home and work in different environments. No matter where you decide to work, be sure you pay attention to your sightline. That means if someone’s behind you, they can see what you’re typing or may even identify confidential information. Additionally, if you have to use the restroom, take everything with you – even if it means you’ll lose your seat.

Be Careful of What You Share.
Since the start of the pandemic, most of us have attended a video conference call in one form or another. If you meet via Zoom, Skype, or other video conference service, make sure you’re in a quiet location in your home, and keep your device on mute until you need to talk. Also, be aware that people can see everything in your home, so take note of what’s behind you (and who may be behind you). Use a PIN if possible to get into any video conference call, and don’t broadcast your meeting information to those who shouldn’t be on the call.

Working remotely is an excellent way to help people balance their work and personal lives more effectively. If you can work remotely, follow these guidelines to keep your personal and other information safe and secure.

Categories
General News

Employee Insights – Miranda Harned

Miranda recently joined Pinnacle Bank as a Mortgage Banker, bringing nearly five years of experience in the banking industry.

Miranda grew up in Carnesville, Georgia, and has stayed close to her roots throughout her career.  Starting as a personal banker and teller, she worked through the ranks to become a consumer and mortgage lender beginning in 2018.

As a Mortgage Banker at Pinnacle Bank, Miranda is passionate about giving the best service possible to her customers. She loves helping them find the right loan for their dream home or getting them into a stronger financial position through refinancing.

When she’s not working at the bank, Miranda enjoys singing and outdoor activities like hiking and kayaking. She loves spending time with her fur babies, her family, and her husband.

We’re excited to have Miranda on the Pinnacle team and look forward to great things happening in the future.

Categories
General News

Employee Insights – Jim Stewart

Jim Stewart recently joined Pinnacle Bank as the Chief Technology Officer, bringing over 32 years of banking industry experience.

Jim began his banking career with a de novo bank in the late 80’s working on the teller line and half days in operations. Since that time, he’s held leadership positions with financial technology providers as well as regional banks and has been heavily involved with the technical side of banking, seeing it evolve over the past few decades. He is currently a member (and past chairman) of the Georgia Bankers Association Operations and Technology Committee and is a faculty member at the Georgia Banking School.

Now that nearly everything in banking requires technology in some form, Jim enjoys collaborating with customer-facing and back-office personnel to create a better overall banking experience for customers. He truly believes banking is a people business and focuses on providing the best solutions available for employees to serve Pinnacle customers effectively and efficiently.

When he’s not working at the bank, Jim enjoys spending time with his family, playing golf with his friends, and supporting the Georgia Tech Yellow Jackets. Additionally, he’s the public address announcer for the football team at Lumpkin County High School and the basketball teams (men’s and women’s) at the University of North Georgia.

We’re excited to have Jim on the Pinnacle team and look forward to great things happening in the future.

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Blog Business Growth & Capital Personal Saving & Budgeting

How to Build Your Emergency Savings Fund

2020 has been filled with ups and downs. One thing is clear with all that’s happened: an emergency savings fund is not just a nice thing to have; it’s part of a solid financial plan. And while you may know how important it is to put money aside for emergencies, you may not know how to make it happen, or you’re not sure you even can fit it in your current financial circumstances. The reality is that everyone can (and should) save for a “rainy day.”

What is an emergency savings fund?

The sole purpose of an emergency savings fund is to help you maintain your routine through life’s emergencies – medical bills, car repairs, appliance replacement, or even a temporary loss of income. You should train yourself only to access your emergency fund when you need it.

Here’s how to get started:

  1. Start with smaller savings goals. Often, people don’t save because they believe they must save everything all at once. When saving an emergency fund, the best advice is to start small and build from there. For example, set an initial goal of saving $500. Then break down your goal into smaller pieces – perhaps $25 a week. That means you could reach your goal of $500 in about five months. The more you decide to save each week, the quicker you’ll achieve your goal. Your goals should challenge you, but they must be attainable as well.
  2. Change your mindset. If you’re ready to save, saving money cannot be an afterthought. You never want to wait to see how much money you have left over. Instead, pay yourself first, just as you would any bill. That way, you won’t be tempted to spend it on anything else.
  3. Make saving automatic. The easiest way to save is to set up an automatic transfer from your checking to your savings account each time you get paid. So, let’s say you get paid every week. Set up to transfer $25 to your savings account from each paycheck, and you’ll never have to think about it again. When you don’t see your money, you’re more likely not to spend it.
  4. Save “extra” money. Most of us enjoy spending any extra money we receive, whether a tax refund or rebate check. A better idea is to stash your extra money (or a portion of it) in your emergency savings fund. Think of it as extra money that will help you reach your savings goal that much faster.
  5. Cut your spending. You’ll be amazed at how much more you can save when you take a closer look at what you’re spending each month. Take a look at your budget and trim as much extra spending as you can from it. For example, maybe only eat out one time a week instead of three, or stop using cable and switch to a less expensive streaming service. Perhaps it’s time to review your insurance to make sure you’re getting the best premium available. Just be realistic with the cuts you make. You should still live and enjoy life – you want to control what you’re spending a little better.
  6. Set up milestones. It’s good to celebrate your success along the way. If your goal is to save $500, celebrate when you save $100. Every time you reach another milestone, it will feel good. Plus, you’ll become more confident you can save money as you experience little victories along the way.
  7. Keep the momentum going. Once you’ve achieved your goal, now it’s time to set a new one. If you were able to save $500, now shoot for $1,000. Keep your automatic savings in place – or increase the amount slightly each week if you can.

Once your fund is established, you can dip into it for emergencies. For example, if you have to pay for unplanned car repairs, use your savings (instead of putting the purchase on a credit card). And once you use your fund, make a plan to replenish it. As you get into the practice of saving, you’ll feel better prepared for life’s emergencies.

 

Find out more about the personal savings hand business savings accounts offered at Pinnacle Bank.

 

Categories
Blog

Remote Banking – It’s More Than Just Convenient

As a business owner, your days are filled with items to check off your list. Whether you’re ordering inventory, meeting with potential customers, or working with customers in your store, you don’t have a lot of time to do other things – including managing your business finances. At times, things like payroll or making a nightly deposit can become a hassle. But it doesn’t have to be that way.

Remote Banking Options Can Make Your Life Easier

There are many innovative and simple ways you can manage your business remotely (24/7) at Pinnacle Bank:

  • Online Banking – save time, improve your cash flow and streamline your cash management procedures in a safe and secure environment on your time. Check real-time account balances and the direct deposit of your payroll, transfer funds, make state and federal tax payments and more.
  • Mobile Banking – you’ll have the power of financial management and supervision right at your fingertips, wherever you are. Use your mobile device to review transfers and payments, approve transactions, deposit checks on the go and even protect your business from fraud by reviewing Positive Pay exceptions.
  • Bill Pay – quickly and conveniently pay bills online that you usually pay by check. Schedule recurring payments, receive and pay e-Bills online and electronically link invoice and credit memo information with your payments.
  • Text Banking – easily and instantly request information about your accounts using the text feature on your cell phone.
  • Digital Wallet – turn your smartphone, tablet or smartwatch into a secure payment option using Google Pay®, Apple Pay®, or your other favorite payment app. Your payment information is stored securely and communicates directly with the payment terminal.
  • Merchant Capture – the quick way to turn check deposits into cash. Make deposits on your time, reduce the risk of check fraud and consolidate funds from remote locations. It’s like having a 24-hour teller in your home or office designed specifically for your business.

 

Remote Banking Gives You Added Security

Using online or mobile banking, you can create alerts to let you know when specific account activity takes place – and these alerts can be delivered by email or text message. For example, set up an alert to let you know when certain types of transactions clear your account or when your account falls below a certain balance. Some alerts can also help you identify potential fraud before it can even take place.

Remote Banking Can Increase Cash Flow

Tools such as remote deposit and merchant capture give you faster access to payments made by your customers, increasing the rate of cash moving through your business. You can also accept different customer payment formats, giving you quick and more secure access to funds.

Remote Banking Helps You “Go Green”

When you use remote banking tools, you can feel good that you’re doing your part to use less paper and be more environmentally responsible as a business in your community.

It’s Time To Go Remote

If you’d like to learn more about any of the remote banking tools mentioned in this article, give us a call at 877-759-7939. We’ll be happy to answer any questions you may have.

 

Categories
Blog Business Fraud & Security

Things Pinnacle Bank Will Never Ask

Fraudsters use email or text messages to try to trick you into giving your private information to them; this is called phishing. These emails or text messages look like they’re from a company you may know or trust, asking you to give them information, such as your Social Security number, Tax Identification number or account information. But don’t be fooled – it’s a trick with real consequences.

Pinnacle Bank is continuously working to protect you from fraudsters, especially as we enter the holiday season (a time when fraud usually increases). We will NEVER call or email to ask for:

  • Your account number or full Social Security number
  • Your full debit or credit card number and CVV number
  • Your PIN for your debit or credit card
  • Your online banking password or security questions

Additionally, we’ll never address you as “user” or “yourname@gmail.com” in an official email from Pinnacle Bank, nor will we ask you to complete a “test” transaction using your account. And, we won’t ask you to text personal or banking information.

Tips for Your Employees

Your employees play a vital role in helping protect your business from phishing attempts. Here are a few tips to pass along:

  • Never open attachments in an email where you’re unsure of the sender. If you know the sender, contact the company using a phone number or website you know to verify that the email or text message is real.
  • Be cautious of the apps you install on your work mobile device or desktop. Review the apps to ensure the logo is accurate and the user experience is what you’d expect. NOTE: It’s best if you ask employees to only download approved apps on their work mobile device or desktop.
  • Avoid clicking through on promoted social media content. Encourage employees to use social media only for work-related needs to help thwart phishing attempts.
  • Trust your instincts. If something feels wrong, don’t “bite.” Scammers who use phishing tactics are counting on people to throw caution to the wind – don’t be fooled.

What Should You Do If You Think You’ve Been Scammed?

If you received a phishing email or text message, report it immediately to the Federal Trade Commission (FTC). Your quick action will help eliminate future phishing incidents with others. Here’s what you should do:

  1. If you received a phishing email, forward it to the FTC’s Anti-Phishing Working Group at reportphishing@apwg.org. If you received a phishing text message, forward it to SPAM (7726).
  2. Report the phishing attack to the FTC at ftc.gov/complaint.

If you have any questions or concerns about an email or text from Pinnacle Bank, please give us a call at 877-759-7939. We’re happy to make sure you’re protected as your safety and peace of mind is our priority.

 

For more information on identity theft and keeping your online banking experience safe and secure, visit https://www.pinnaclebank.com/why-pinnacle/online-banking-security/.

Categories
Blog Home Buying & Refinancing Personal

It’s a Whole New Way to Buy a Home

Buying and financing a home has changed significantly – here’s what you can expect.

Shelter has always been a basic human need. But with the recent lock-downs caused by COVID-19, your home has become more critical than ever. And how you buy and sell a house has experienced significant changes as well. Here’s what you can expect:

Virtual home tours.

Many buyers are searching for homes online using videos, 3D walkthroughs, drone surveys and even interactive floor plans. Additionally, real estate agents now meet with clients virtually using videoconferencing to discuss home buying options or selling tips. And in some instances, you’ll find real estate websites hosting live-stream open houses to help make the home-buying experience feel more “normal.” While you may be able to visit some homes in person (with restrictions), it’s now becoming more of the exception than the norm.

Home features that matter more than others.

Since more people have been staying home due to the pandemic, certain home features have become more critical in the sale of homes than others. Here’s a list of some options that seem to be driving buying decisions:

  • Rooms with more sunlight and privacy
  • Large pantry or cabinet space
  • Ample room to cook in the kitchen with appliances that make cooking easier
  • Energy-efficient appliances and windows
  • Home office or exercise space
  • Outdoor space that can be seen as an extension of the home and includes amenities, such as pools, barbeques and comfortable furniture

Getting pre-qualified is vital.

With uncertainty looming in the real estate market, getting a mortgage pre-qualification is more crucial than ever. When you have a pre-qualification in your pocket, you’ll be seen as a serious buyer – giving you an advantage since many markets are experiencing a short supply of home inventory. Plus, you’ll know what you can afford from the start so you can remain focused on homes that fit your budget.

The loan process may be digital with increased verification.

Over the past several years, financial institutions have moved their mortgage lending process online. Since the pandemic, this transition has become essential to giving customers the type of service and care needed when buying a home. For example, at Pinnacle Bank, you can work with a Mortgage Lender in person or apply for a mortgage loan in as little as 20 minutes. While applying for a mortgage may be easier than in years past, you may also be required to verify your income more than once during the approval process (mostly due to the uncertain economic environment that exists today). Our Mortgage Loan Officers will help answer any questions you may have and walk you through the process.

Your closing may be virtual.

Under the existing pandemic restrictions, you may not be able to close on your mortgage in person. Instead, your closing may be done virtually, which means you’ll sign documents digitally and meet with a notary via videoconference. In some cases, a virtual close is not possible. Some lenders and title companies have opted to hold drive-thru closings, where buyers sign the documentation in their vehicle, with their agent there “virtually” to answer questions.

When you’re ready to buy, we can help.

The pandemic has changed some of the ways we’re doing business. But we’re prepared to guide you through the home-buying process and get you into the home you desire when you’re ready.

 

Categories
Blog Business Personal

Loan Deferral Customers

Thank you for choosing Pinnacle Bank for all of your loan needs. If you participated in Pinnacle Bank’s “Loan Payment Deferral Program,” which we rolled out in late March 2020, the four-month Payment Deferral Period has now expired. Therefore, we are reminding participants to resume loan payments as usual under your loan agreement.

We understand the consequences surrounding the COVID-19 pandemic, and we are here to assist our customers in any way necessary. If the resumption of loan payments presents an issue for you, please contact your loan officer immediately at 877-759-7939 to discuss your situation. We are here to assist you within reason for any additional requests you may have. Contacting your loan officer as soon as possible helps to ensure your loan remains in good standing.

As always, thank you for being a customer of Pinnacle Bank.

Your Pinnacle Bank Team

 

Categories
Blog Cash Management Managing Your Business

Take the Pain Out of Payroll

Blog 2

Whether your business is a one-person shop or you have 100 employees, payroll is an essential element of your company. But it’s not always convenient and is typically very time-consuming. Using a payroll service can help you take the pain out of payroll so you can spend more time doing what you enjoy.

What Payroll Service Options Are Available?

Payroll services offer you as much help as you need. Here are two common types of payroll service options:

  • Outsourced Payroll Service. When you use an outsourced payroll service, you move your payroll process offsite – they handle everything for you. Plus, you’ll have access to payroll experts to ensure your payroll process is compliant.
  • Online Payroll Software. Using payroll software, you can manage your payroll process 24 hours a day and even automate most of your payroll tasks. 

What Are The Benefits of Using Payroll Services?

The following are some of the key reasons you should consider moving from a manual payroll process to a payroll service: 

  • Saves Time. Using a payroll service will cut down the amount of time you spend entering data, checking reports, paying taxes, or processing your payroll.
  • Saves Money. If you currently use an employee to process your payroll, it may be cheaper to outsource this process. Additionally, you may find that using software or an outside service will eliminate mistakes, which can also help you save money in the long-run.
  • Provides Greater Security. Many times, embezzlement or tampering with company records occurs among those who handle payroll. By outsourcing this process, you can eliminate this threat because a guarantee of privacy and security should back the payroll service you select.
  • More Compliant. As a small business owner, you have enough to worry about with your day-to-day operations, so staying up-to-date on payroll and tax requirements may almost seem impossible. By using a payroll service or software program, you can avoid mistakes and stay compliant with all government rules, regulations and tax rates.

What Option Is Best For Your Business?

Only you can decide which option best suits the needs of your business. If you’re looking for a hands-off, turn-key approach to payroll, a full-service payroll company is your best option. You may pay a little more for this service each month, but for many it’s worth it because you don’t do a thing.

On the other hand, if you don’t mind paying your taxes or printing checks (or setting up direct deposit) every other week, using payroll software may make sense for you. It will be less expensive than using a payroll service company and safer than doing it manually.

Choosing A Payroll Services Provider.

When you’re ready to choose a payroll service provider, we can help. Pinnacle offers payroll services with your needs in mind. Give us a call at 877.759.7939 to get started.