Soon the River Valley Region of Arvest Bank will have three brand new branches in Fort Smith, Van Buren and Alma!

Our Alma location marks Arvest’s entrance into its 90thcommunity, making it branch #24 for the Arkansas River Valley market.  For over a year, our very busy ATM has served the fine folks in Alma and the full-service Alma branch is scheduled to open in early 2009 and the other two River Valley locations are actually “relocations” of existing branches to new, more customer-friendly and convenient buildings.

• Our first relocation is the highly-anticipated, renovation of the old Woolworth Building (circa 1915) located in downtown Fort Smith at 9th & Garrison.  All 10,000 square feet of the building are being completely refurbished.  And, we’re being careful to protect the historical facade and the building’s many unique features.  Our full-service branch at 16th Street will move to this historic location by the end of this year.  The Woolworth Building rennovation  project has been from the beginning a true collaboration between Arvest, the City of Fort Smith, Downtown Development, Rodney Ghan Commercial Properties & the Greater Fort Smith Chamber of Commerce.  What great partners to have in such a meaningful project!
• Our second relocation is to Hwy 64 in Van Buren.  Our very-busy Cloverleaf Plaza branch will move this location, where customers are sure to enjoy easier bank access.  Driving on Hwy 64, you’re sure to notice the demolition currently taking place.  Our Hwy 64 branch in Van Buren is scheduled to open early next year. 

All of our new branches will be full-service locations with drive thru lanes.  These new branches will be ready to serve you from 7 a.m. to 7 p.m. 
 

A couple weeks ago, one of my friends and I were discussing our new, “grown-up” jobs. As newcomers to the corporate world, we talked about the many perks of finally having a real job. When the topic of retirement planning came up, my friend admitted that she had no idea what the 401k was or if she needed it.

Through this conversation, it came to my attention that many recent college grads are clueless when it comes to retirement planning. After all, we’re young and retirement is so far away, right?

So what is a 401k? Here are the facts:

• Employer-sponsored retirement plans are generally grouped into two categories: defined benefit (DB) and defined contribution (DC). In a DB plan, the employer promises to pay a defined amount to retirees who meet certain eligibility criteria.
• In 1978, section 401k of the Internal Revenue Code authorized the use of a new type of defined contribution plan that allows for the employees to make pre-tax contributions to the plan.

How It Works

• Employee 401k contributions are automatically deducted from their paycheck each pay period. This money is taken out before the employee’s paycheck is taxed.
• The contributions are invested at the employee’s direction into one or more funds provided in the plan.
• Employers often “match” employee contributions, but are not required to do so.
• While the investments grow in the employee’s 401k account, they do not pay any taxes on it.

Advantages and Benefits

• 401k plans offer many benefits including the following:
• This type of plan can permit loans and hardship withdrawals.
• Employee contributions to the plan are not subject to federal income taxes until a distribution from the plan is made.
• Any investment gains and earnings also enjoy a tax deferral until distribution.
• 401k plans may permit “self-directed investment accounts” and company stock purchases within the plan.
• Participants age 50 and over can make additional “catch-up” contributions of $5,000 in 2008.

As for the future…save for it, don’t sweat it!

I am getting a lot of questions through the blog and directly from customers about some wireless carriers and devices (think iPhone!) that are not currently supported by our mobile banking service.  Currently AT&T and Verizon are the primary carriers supported for our mobile banking product.  We have received many questions from you about Alltel, T-Mobile, US Cellular and Sprint.  We are also anxious to be able to provide mobile banking to the customers of these wireless carriers.
 
Due to the importance and sensitivity of your banking data, Arvest mobile banking depends on encrypted transmissions over the wireless carrier's network and this is why not all carriers are currently supported.  Our mobile banking partner, Firethorn, is in negotiations with several wireless carriers and we are very hopeful additional carriers will be added in the near future.   In addition to the carriers, Firethorn is constantly working on supporting additional devices.
 
We will keep you informed of any new announcements in regards to new wireless carriers or devices as we learn of developments.  At that time we will certainly add the news to the blog, our main website, and to www.arvestmobile.com.  As a reminder, with Arvest Mobile Banking, you can securely check balances, transfer funds and pay bills, all from your mobile phone.  Learn more from our online demo located HERE.
 

We are very excited to announce the winner of  the "So Long Paper...Hello Hybrid!" Sweepstakes.

Congratulations to Jason Burdick of Bartlesville, Oklahoma!

Thanks to all of you who decided to "bank green" over the past couple of months, and by doing so, entered to win a Toyota Prius through our "So Long, Paper - Hello, Hybrid!" Sweepstakes. With over 13,000 qualified entrants, we are all saving a lot of paper and losing a lot of clutter.

Even though registration for our Hybrid Sweepstakes concluded on June 30, 2008, you can still save paper and lose clutter with free online BillPay and e.Statements.

If you haven’t already heard, Arvest Bank has teamed with Habitat for Humanity for “Built Together”, our community development initiative to help build homes for people in need. Arvest hopes to raise over a quarter of a million dollars to Habitat for Humanity over the next three years and an additional $150,000 this summer through associate and in-branch fundraisers.

During the month of July, Arvest customers can participate in this exciting endeavor by purchasing a paper “brick” for just $1.00 at any Arvest branch location. These paper brick donations will help support local Habitat for Humanity chapters. So far this year, Arvest has raised approximately $48,000 through various fundraisers, including “brick” sales. We encourage you to stop by any Arvest branch location or visit www.habitat.org to make a donation to this wonderful organization.

We are thrilled to be partnered with Habitat for Humanity and look forward to the continued success of our “Built Together” campaign. Besides, is there any better feeling than helping out your fellow man?
 

Yes. Any Arvest loan in which you sign on can be viewed within Banking On the Net. Generally, all accounts are added to the ID when it is initially established. Any accounts opened after that or not originally included can be added by stopping by calling the bank, visiting an Arvest branch location or submitting your request via the secure message function inside Banking On the Net.

The loan details you can see vary by type. For consumer/business loans you can see the current balance, interest rate, the present year’s interest, last year’s interest, the origination date, original pay-off date and amount, next payment date and amount and credit line. The register will show you the account activity, such as payments, dispersals, fees, etc.

For mortgage, you can see the outstanding balance, interest rate, the present year’s interest, last year’s interest, the origination date, original amount and payment amount. The register will show you the account activity, such as payments, escrow disbursements and much more.

Account history will begin the day the account is added to Banking On the Net. Arvest keeps a total of 475 days of history once the account has been for that amount of time. Remember, you can make payments to your Arvest loans within Banking On the Net through online BillPay or by making an online transfer to them

Whether you’re building or remodeling, it’s the extras that can add considerably to your enjoyment as well as the resale value of your home. According to a survey of consumer preferences by the National Association of Home Builders, here are the amenities that homeowners want most: 

• Double sink in the kitchen
• Walk-in pantry
• Island work area in the kitchen
• Built-in microwave oven
• Home office
• Walk-in his and hers closets
• Linen closet in the bathroom
• Separate shower enclosure
• Private toilet compartment
• Dressing/makeup area
• Laundry room near kitchen or bedroom
• Exterior lighting
• Deck/patio at the rear of the house
• Built-in sprinkler system

Source: Arvest Home Digest