Helping People is Why She Does It: Getting to Know Androscoggin Bank’s Giselle St. Amand

For our employee spotlight this month, we chatted with Giselle St. Amand, a retail manager at our Turner Street branch in Auburn. Giselle’s been part of the Androscoggin family even before she started working for us herself; her mother is a business and government services officer who started out as part of our retail team.

Please share your title and a brief description of your role at Androscoggin Bank: As Retail Manager, I oversee the sales effort and day-to-day operations of our Turner St. branch.



How long have you been employed with the bank? It’s been four and a half years now.

What’s one thing about you that we’d be surprised to learn? That this is actually my second go-around with Androscoggin Bank. I started as a teller in the Brunswick office while still in high school. I worked my way through high school and college with Androscoggin Bank and then came back four and a half years ago as the Assistant Manager at our Main Office.

What’s your favorite part of your job? I love to help the individuals I come across every day. Whether it is a loan customer who is now able to purchase an engagement ring for his girlfriend for Christmas, or an elderly customer who has been awake all night because she is unable to balance her checkbook, or even an employee who realizes that banking has become more than a job and it has actually turned into a career. These little moments may not seem like a lot but to me they are the reason I do my job.

Banker with an Appetite for Learning…and Pasta! Getting to Know Androscoggin Bank’s Georgia Nieto

The local teams at each of our branches are a key part of what makes our Bank a success – they’re committed to making your time well spent every time you step foot in one of our locations. For our employee spotlight this month, we invited Georgia Nieto, Lead Teller at our Brunswick location, to tell us a little bit about herself.


Please share your title and a brief description of your role at Androscoggin Bank: In June I was promoted to Lead Teller; I'm in charge of overseeing the teller line and making sure we are following procedures. Essentially, I’m one of the go-to people at the Maine Street Brunswick branch and work closely with the Customer Service Manager to support other key branch initiatives.

How long have you been employed with the bank? I started as a teller at Androscoggin Bank about two and a half years ago, in 2009.

What’s one thing about you that we’d be surprised to learn? I love to cook, especially anything that includes pasta as the main ingredient. I also recently returned to school to pursue a Masters degree in Business Administration, which I’m excited about.

What’s your favorite part of your job? Helping my fellow employees be successful, and helping our customers make sure they have products they really do need.

3 Reasons to Put Your Money In a Community Bank

Financial services and banks have been the topic of a national dialogue recently. The media attention, blogs, posts and other consumer feedback has been very enlightening for us. In particular, a lot of people are starting to re-acquaint themselves with community banks. It started over a year ago with Huffington Post publisher Arianna Huffington urging people to use community banks and continues now with parts of the Occupy Wall Street movement and a recent “Bank Transfer Day” on Facebook urging people to move their accounts from the “big banks” to community banks and credit unions.

As fellow bankers we recognize and appreciate the vital role large banks play in the economy and the communities they serve. As a community bank, however, we welcome any opportunity to meet and serve our friends, colleagues and communities. And while it’s unfortunate somewhat that consumer frustration is what’s driving interest in community banks, we will take the opportunity to share some pretty good reasons to bank local:

1. You’re not just a number to us. Just ask your grandma or parents who probably bank at a community bank, when they walk in community bankers know their names. One of the main reasons to bank local is we know our customers…well. Our staff and management live in the communities we serve. If you have a complaint, our “letters to the President” really DO go to the President of the Bank. And it’s more than likely that you will get a call from him, too.

2. We help support and grow the local economy. Your FDIC insured deposits at a community bank is lent out to people in our service area, lending to local companies who invest and expand creating local jobs. Community banks play an integral role in the development, investment and support of businesses in this community. As a community bank, we have the privilege of seeing our work create jobs for people in our communities. And like any business or “for-profit” entity, community banks pay taxes that support community infrastructure, human services and education.

3. We care about your community…because it’s our community, too. Just this year Androscoggin Bank will give well over $100,000 to local non-profit organizations to support a variety causes including arts, youth-at-risk, economic development and education. Visit bankoncommunity.com to learn more about the organizations we support and how we are continuing our commitment to giving—even in the most difficult times.

At community banks, we do what it takes to get the job done. And if the recent OWS demonstrations and news stories are enabling more people to consider the benefits of a community bank when making an informed decision about their money, then perhaps I should be dusting off my L.L. Bean tent…

An accountant with a green thumb: Getting to Know Androscoggin Bank’s Kristen Bartlett

We love getting to know our customers – and want you to get to know us, too. This month for our employee spotlight, we interviewed Kristen Bartlett, who works in the accounting department in our main office in Lewiston.

Please share your title and a brief description of your role at Androscoggin Bank: I’m a Senior Accountant, so my role involves preparing a lot of the quarterly regulatory reports that we submit to the Fed. I also prepare our monthly financials and help keep the Bank’s affairs in order.

How long have you been employed with the bank? I have been at Androscoggin Bank for about three years now, and I love it.

What’s one thing about you that we’d be surprised to learn? I have a flock of twelve laying hens and tend a substantial vegetable garden each year. Prior to jumping into the accounting world, I actually spent several years as a year-round Greenhouse Manager in Virginia. Since I also hold a degree in English, you could say I am very well-rounded – which certainly helps when it comes to preparing reports and working with others here at the Bank.

What’s your favorite part of your job? My favorite part of working in the accounting department is getting to see the whole picture of how our Bank functions. We get to analyze everything from our deposits and loans to the investments we make and the money we keep at the Federal Reserve. It is fascinating to see how everything is interrelated and works together to keep our institution strong.

3 Things You (And We) Need to Know about Mobile Banking

We’ve posted before about the rise in mobile banking, and we’re in the process of launching new mobile options for our customers. But beyond simply making our site and services more mobile-friendly, there are a number of considerations that we (the Bank) have to take into account…and other tips that you (the consumer) should keep in mind, too. This past spring, I attended the 5th Annual Mobile Banking and Emerging Applications Summit hosted by American Banker. The attendees were a unique combination of banks, credit unions, software developers and core technology systems, and it was a great opportunity for all of us to learn from each other and share observations – so ultimately, we can better serve you in this increasingly mobile age.

While there were plenty of lessons learned, cautionary tales and exciting tips shared, three pieces of advice that stuck out to us, which banks should be thinking about, are these:

1. Forget the mouse. The touch screen is quickly becoming the common, “normal”
   way people are online banking on their smartphones and iPads/tablets. This means that as we design mobile applications and sites, we need to make sure they’re sleek and intuitive and easy – not just shrunk down, re-formatted versions of our traditional websites.


2. Unlike in years past when people identified with one bank, mobile bank customers can and will work easily with multiple financial institutions. This means it’s up to us to keep our promises and offer all the services consumers are looking for, and make sure we do so in a way that keeps those customers coming back because we’ve actually helped make their lives easier.


3. There’ll be a big shift in the way people think about banking, from “storing money safely” to “conveniently and efficiently moving money 24/7.” This is a core reason why mobile usage is rising in the first place. People have to be able to instantly and efficiently check balances, transfer funds and complete transactions from wherever they are – without having to guess or scratch their heads.

Of course, as banks learn and adapt, there are things that we need to make sure we’re helping our customers with, too. As a consumer, please remember these three tips for protecting yourself:

1. Change your mobile passwords regularly – the nature of mobile devices and tablets are that they’re easily transportable (stolen, left behind) and often used by multiple people. So better to be safe than sorry.


2. Set up MobileMe (for iPhone users), or the equivalent ability to wipe your device remotely if lost. Again, it’s just a question of taking precautions.


3. Don’t bank on open WIFI networks, which aren’t secure and can leave you more exposed to fraud and/or identity theft. Use the carrier network (it is more secure), or a password encrypted network to handle your business.

Of course, if there are other tips you think banks should be thinking about, or questions you have about mobile banking, please leave them in the comments.

The mobile web: transforming the way you bank

Smartphones are everywhere these days, and we’re using them to do just about everything, too. Some of you may even be reading this very blog post from your iPhone or Droid. And just as the rest of the world is going mobile, so too is banking.

Rapid adoption of smartphones is resulting in more consumers than ever using the mobile web to check balances, review transactions, or receive alerts, according to a report released recently by Forrester research (and frankly, you can probably look around you and observe this happening in real time). In fact, Forrester’s forecast indicates mobile banking will increase five-fold over the next five years, with one in five American consumers using online banking by 2015.

Yet while most people associate banks with physical branch locations (especially community banks like Androscoggin that have been around for more than a century), the truth is that we’re excited about this revolution and the opportunities it brings. Yep – you heard us right. We like the way things are changing. In fact, we’re doing everything we can to encourage it.

The rise in mobile banking is actually a good thing for banks, and it’s certainly good for all of you. Convenient access to services on-the-go is an obvious benefit, but so too is the fact that online banking and mobile accessibility also gives you more control over how often you want to check balances, make transfers, and communicate with your bank. There are a lot of reasons why visiting your local branch or even calling us by phone can provide a better opportunity to answer your questions or run through options, but on a day to day basis many of you would prefer to interact with us the same way you would your co-workers or friends: via quick, easy mobile exchanges. That’s why we’re developing new mobile services that will be rolled out over the next few months. Adapting to change isn’t about just reacting to shifts in the way you like to communicate, shop, and even bank using your phones – it’s about recognizing how the way we all communicate is transforming and figuring out ways to make sure we’re still making your life easier.

Fire Breather or Banker? Getting to Know Androscoggin Bank’s Genevieve Hering

Genevieve Hering

As we’ve written before, sharing our true personality is important to us. What sets us apart from other banks is that we truly do believe in authenticity and making sure everything we do for customers, community and colleagues is time well spent. With that in mind, we’d like you to get a better sense of who we are, and what we do spend our time on, by asking folks from the Androscoggin family to answer a few questions on this blog each month. Up first is Genevieve Hering, who works in our main office in Lewiston.

Please share your title and a brief description of your role at Androscoggin Bank:As the Risk/Compliance Administrator, I conduct risk assessments on such areas as compliance, operations, and vendor management in order to help identify lapses in our control infrastructure and make recommendations aimed at improving our risk profile. My other responsibilities include monitoring regulatory changes to ensure the Bank is constantly aware and compliant and supporting personnel in incidents of fraud and suspicious activity.

How long have you been employed with the bank?I have been with Androscoggin Bank since September 2009. I started as a full-time teller at Route 4 and then grew to the role of back-up CSR for my branch. I was promoted to my current position this past April.

What’s one thing about you that we’d be surprised to learn? (Hobby? Favorite food? Quirky talent?) My greatest quirk is my love of adventure and where it leads me. My current ambition is fire-spinning. Last fall I attended a four day fire “retreat” where I learned such talents as poi and contact fire. This September I will be returning to learn to breathe and swallow fire (don’t worry; I’ll thoroughly assess the risks)!

What’s your favorite part of your job?My favorite parts of my job are my broad exposure and limitless learning prospects. In the course of my assessments, I have the privilege of “visiting” many different areas of the Bank and gaining an understanding that I feel would not have been possible otherwise. In addition, the banking industry is constantly changing and evolving. If I can rely on one thing, it’s change, and change is opportunity.

Different? Seriously? Not really.

In all my years of brand management and marketing, I’ve never been asked to ensure that the company I’m working with is the same as its competition. At the same time, I’ve never been asked to ensure that a company is really different.

The pros and cons are obvious. Being different gets you noticed. Being different delineates the boundary between you and the competition—making purchasing decisions easier. But being different is also tough.

You spend most of your life trying to fit in at school, at church, at family reunions and at work and now…just now…you want to be different? All of a sudden different is good? Seriously? Not really.

Different kids, by definition, don’t “fit in.” Maybe they don’t aspire to wear the right clothes, say the right things, buy the right tunes, hang out with the “popular” kids, get the right hair or have a real iPod or maybe they try…and just can’t get it right.

That’s what makes them different—and being different is tough. For those kids who are authentically different—the smartest, the most creative, the gifted—being like everyone else is not an option. Being different comes from the inside out—and no matter what they wear, say and do—people still see they are different. Different must rely on cues from within their own conscience, their uniqueness and talent to compete—not validation from their competition, peer groups or friends.

Another type of different kid is the one who is like all the others, but actively seeks to be different. I immediately think of  those categorized as “goth.” All dressed in black with the makeup reminiscent of Gene Simmons and KISS, their spiky hair and dog-collar jewelry, they market a personal brand that says look at me, I’m different.

At Rhode Island School of Design, we could always identify a new student because they were still marketing that high school identity. After about a week, the marketing ended. The black wardrobe, spiky hair, piercings and other trappings quickly dissipated. Maybe they realized that at RISD, everyone wore black, had spiky purple hair and piercings in high school. The accessories didn’t make you different after all. This was usually a true shock to their ego.

These two types of “different” exist in community banking, too. First there are authentically different banks. They can’t help it. From the inside out, the organization’s culture, structure, strategy, customers and expectations are different. It may look just like every other bank, but your experience is obviously and noticeably different – whether you got the loan or not.

The other different is marketing’s version of accessorizing. We will say we are different in our campaigns. We’ll re-name bank teller position with pithy, customer-centric titles like “relationship managers.” And we’ll assert that being friendly and making sure we don’t make mistakes counting money is an industry-leading, competitive difference for which customers should recognize and reward us.

If that doesn’t work, we’ll do an advertising campaign and promise to “care about your small business as much as you do.” To which I say, if that is true, by all means take an equity position in my company, not a second lien on my house. The assertion that a bank can even conceive of the risk that a small business entrepreneur faces everyday is misrepresentation of the industry that borders on the sublime.

As community banks, we need to stop trying to be like other community banks, big banks or large regional banks. We need to look within, identify what matters most to us, know what we do well—and what we don’t—and stay true to the experience that results. Our customers will appreciate our fortitude and reward us accordingly.

As a banker and a consumer, the one who is authentically different—honest, comfortable, true to themselves—gets my business every time. I want a bank who understands the role of money in my life (the good, the bad and the ugly) and is going to support a decision-making process that produces a good result. I’ll continue admire those purple, spiky-haired kids who freely express themselves while in line to buy coffee. But when it comes to decisions about my money, I want an experience that is valuable, honest, authentic and real—and whose brand promise is made from the inside out.

A thank you and a tip for those in the armed forces

With Memorial Day just behind us and 4th of July coming up fast, it’s an easy time to feel patriotic and reflect on what these holidays are really all about. Beyond the barbeques and shopping trips, these occasions should include acknowledgment for those in the armed forces who gave their lives in service of this country, and who serve today to keep all of us safe. This hits close to home in Maine in particular, since proportionately, we have more veterans in our state’s population than nearly every other state. We are of course grateful and appreciative of these soldiers and their families, who sacrificed so much, as well as the veterans and active members of all branches of the military who are still in service.

Thinking about these courageous men and women serving our country, we can’t help but want to offer a quick word of advice to help them and their families avoid financial challenges while they are away from home – perhaps even overseas on another continent. One thing that most folks in active duty probably don’t put at the top of their to-do list when preparing to leave home, but should be mindful of, is establishing a power of attorney to make sure that loans, mortgages, investments and other money matters are taken care of and paid attention to.

A power of attorney is a document in which you state that you give someone else (often a relative or friend) the authority to make certain decisions and act on your behalf. Particularly if you or someone in your family is going away for an extended deployment, establishing a power of attorney can make sure that someone is authorized to deposit your checks in the bank or pay your bills, sell property if need be, enter into contracts on your behalf, or even pursue insurance claims and legal actions. Certain bank branches can also provide power of attorney services for specific functions – including stepping in and taking action on your behalf in cases of financial fraud or debit card compromise.

So if you or someone you care about is in the armed forces, encourage them to speak with their bank and look into this. With all the other stresses, challenges and concerns that come with active duty, questions about how you’ll protect yourself from fraud need not be one of them.

To Shred or Not to Shred:What to do with your tax documents?

We're willing to bet you probably didn't really enjoy filing your taxes this year. Even if you're expecting a big return, you were probably not grinning from ear to ear at the thought of rifling through tax forms and W-2s and interest statements. We're sure it was even less fun if you've recently purchased a home or started a business, and you spent hours scratching your head trying to figure out how the heck this affected whether you were getting money back or have to pony up some cash. But even less fun? Getting audited when you're not prepared for it. So now that tax season has officially ended, we wanted to share some useful advice.

After you file your taxes each year, there are certain pieces of paperwork you should keep on-hand for a while. Many people are tempted to shred their documents shortly after - maybe even a year or two after, to make sure paperwork with sensitive financial details aren't left lying around for too long. But in the end, some of us end up tossing away receipts and forms way too soon, while others stockpile paperwork like they're applying to be on an episode of "Hoarders."

Most of you know that if you don't have a shredder at home, we're happy to shred any documents for you; just bring them in. But while we want you to come in and enjoy the therapeutic feeling that washes over you as your old documents transform into ribbons of recyclable paper, we really try to avoid reducing anyone to tears once they realize they destroyed something they actually should have held onto.

Here are some quick guidelines on what you should shred, and what you shouldn't:

1. Don't shred these items (keep them in a safe or secure file cabinet):
• Your will (have a back-up copy filed with your attorney)
• Birth certificates, adoption papers and death certificates
• Marriage licenses, prenuptial agreements and divorce decrees
• Alimony and child-custody agreements
• Passports, military records and citizenship papers
• Power of attorney decrees
• Copies of your IRA, 401(k) and other retirement account participation plans (Keep your beneficiary names and addresses current.)
• Current insurance policies (Home, health, disability and auto)
• Deeds, property titles, mortgages, stock and bond certificates and employment contracts
• W-2 forms (At least until you begin claiming Social Security…then you can shred them.)
• Investment records (Keep as long as you own the investments, plus another seven years.)
2. Shred these after one month:
• Bank statements, unless this is your only record for a tax-related transaction. Otherwise, you should be able to access them online in the future.
• Credit card statements, unless this is your only record for a tax-related transaction.
3. Shred these after one year:
• Retirement plan statements (except Roth IRA statements, which you should keep until you retire to prove you already paid tax on your contributions. Also, because we listed them in the do not shred list above. You are paying attention, right?)
• Paychecks, until you receive your W-2.
• Bills, in case they're needed for tax purposes. Just don't forget to pay them before filing them.
4. Shred these after seven years:
• Tax documents, including state and federal returns and supporting documents like receipts, and real estate closing statements. The IRS may audit you within three years if it suspects errors, and within six years if they believe you underreported your income by at least 25%. If you don't file a return or file a fraudulent one, they can audit you at any time.

When in doubt, ask your financial planner or a banking professional for advice on other items you're not sure should be kept or shredded. Shredding is a great way to minimize the opportunity for identity theft, but repeat this very important reminder out loud: once you shred something, you can't un-shred it.

Tips for First-Time Homebuyers

Whether you're building, buying, or refinancing a home, the process can be confusing. Particularly for you first-timers out there, there’s a double whammy at play: on one hand, it can be very overwhelming because you likely have a ton of questions and are dealing with loans and mortgage applications and an investment of this size for the very first time. On the other hand, it's also incredibly exciting and emotionally-charged ... which means it's that much more frustrating and anxiety-inducing.

With that in mind, we want to do what we can to give anyone going through the process of buying a home for the first time a little peace of mind. Here are some insider tips:

1. Making sense of what you really want: If it's been six months and you still haven't found a house worth buying, it may be a classic case of "It's not you, it's me." Chances are, you haven't found something because on some level, you might not be ready. Motivated buyers tend to find what they're looking for sooner rather than later. We're talking weeks, maybe a few months ... not a year. Either you're an incredibly picky person, you have a pretty terrible real estate agent, or there's a fundamental flaw with your process. The flaw could be that you're just looking too soon ... or it could mean you're being unrealistic about what you can afford. Go to dinner with some friends. Relax for a weekend. And then ask yourself if you're ready to make this kind of financial commitment. If the answer's "yes" ... read on!
2. Making sense of your money: Do you have a lot of debt? Multiple maxed out credit cards? Have you been late with some of your payments over the past year? If so, you need to get that debt in order before you start adding to it in a major way. Interest rates on credit cards can be much higher than the interest rates on a mortgage ... so if you think you'll be spending smarter by putting more money down on a house when you have several thousand dollars in debt on your credit cards, you might just be making a big mistake. Pay off the short-term debt. Bonus: less credit card debt means you'll likely qualify for a bigger loan for the house.
3. Making sense of mortgage rates: Mortgages are long-term investments; they're governed by external factors like inflation and the economy in general, and because of that rates can change quite a bit from month to month. When you're looking at mortgage options, you'll come across a variety of options, including the decision to go with fixed or adjustable rate mortgages (ARMs). Fixed rates are locked-in, while ARMs adjust over the life of the mortgage.
   
   If you're a first-time buyer and you want to know what you're getting into, and you want to be able to plan payments ahead of time, a fixed rate mortgage might feel like a good fit at first glance. But when you get down to it, ARMs might be the more realistic, better fit in the long-term. ARMs don’t typically vary month to month; instead they will "re-price" occasionally depending on the term of the mortgage. Many are set up as a hybrid of sorts, with a fixed rate for a specific number of years, and then a reset date where the mortgage rate "floats" for the remainder of the term. For example, a 5/1 ARM will re-price annually after the first five years, whereas a 10/1 ARM will re-price annually after the first ten. What's particularly appealing for first-time buyers is that these types of ARMs generally permit you to lower your initial payments, so they can be more accommodating to the fact that you may just be getting started in your career and family. When evaluating your ARM options, keep in mind the industry average for the life of a mortgage is seven years, so a 15/1 or 10/1 ARM can be a good bet. Divorce, moving, and other substantial life-changing events tend to occur in cycles about every seven years.

All of this advice really comes down to making sure you talk to a qualified mortgage professional and are honest with him or her. Don't impulse-buy when it comes to something as expensive as a house, and don't fall for any too-good-to-be-true offers just because they claim pre-approval. Think about what you can afford now, and how your life may change in the future. The bottom line is, be realistic about your situation, your goals and your expectations, and it will pay off.

Everything you ever wanted to know about banking, but were afraid to ask

If we walked down a crowded street and asked random people how they feel about their bank, we would get a very wide variety of responses. Some might even be unprintable. But most people would be able to speak pretty freely about how they feel – they’d praise the customer service or complain about fees. They’d share stories about how a specific piece of advice or a much-needed loan saved them in a bind. Some would crack jokes about the lack of funds in their account. But the bottom line is if you ask people to tell you how they feel about their bank, most don’t have trouble tapping into their emotions and sharing.

What if we kept asking questions, though? What if we asked those same people how they feel about their retirement plans, loans for small businesses, mortgage applications, or interest rates on their savings accounts? The conversation would likely take a turn. Sure, some people are very knowledgeable about all these topics, maybe even passionate. But many would also shrug their shoulders. They’d admit a bit of confusion and maybe even chuckle, explaining how they wish they knew enough about these topics to make themselves a little more money. And that’s where we (and really, this blog) comes in.

We know fine print can be frustrating. Understanding interest rates, percentages, contract clauses and loan agreements can be overwhelming. But our goal is to help you take charge of your finances and help you help yourself. We get that you’re real people, and that’s just how we intend to treat you. So we hope you’ll keep reading this blog, because we’ll take the time to give you the inside scoop on how your bank can work for you, and help you make sense of all the topics we mentioned, and more.