Not convinced that you really may need identity theft protection?  Read this true customer story from an Arvest associate in central Arkansas and you may change your mind…

"I opened a new myBlue™ account for a customer last week.  I explained the benefits of Family IDProtect™ and told her about the optional website with free credit history and monitoring.  She just came by tonight and told me that once she checked her credit history (for free of course!), she found out that a mortgage loan AND an auto loan that had been fraudulently processed under her identity!

Thanks to Family IDProtect™, she qualifies for up to $10,000 reimbursement per incident (even past incidents!) to cover any and all fees (and time off work, if needed!) to clear her credit."

This is a true testimonial from an Arvest associate about an experience from an Arvest myBlue™ Checking customer.  As you can see—identity theft is no joke.  Family IDProtect™, included with many checking accounts such as myBlue™ Checking, is an identity theft protection service to aid in preventing and patching-up instances just like the one above. And, just like the instance above, that’s exactly what Family IDProtect™ did for the Arvest customer. 

Family IDProtect™ is a value-added service to various Arvest checking account options. To view which accounts this service comes with and to learn more about Family IDProtect™, click here.  

It was announced today that Arvest Bank will expand within the Greater Kansas City area through an agreement made to purchase Union Bank of Kansas City, Mo.  Union Bank currently operates 10 branches in the Kansas City area.  Please see the following release for additional details.

Kansas City, Mo. – Arvest Bank is announcing today that it has agreed to acquire substantially all of the assets and liabilities of Union Bank, according to Jeff Jernigan, Union Bank President & CEO and Mark Larrabee, President & CEO of Arvest Bank in Kansas City.

“As we assessed the best way to serve our loyal customers every day, it was clear that fresh ownership with deeper resources was the best course in a difficult economic environment,” Jernigan said. “Arvest Bank is a perfect fit because of its approach to customer service and their commitment to long-term growth in the Kansas City region.”

The transaction requires approval from banking regulators and is expected to be completed in 90 to 120 days.  Terms of the transaction were not disclosed.

Jernigan said the transition will have little or no immediate effect on Union’s customers. Account terms, conditions and policies will remain unchanged until after the sale is complete.  Customers will receive notice of any changes well in advance of them taking place.  Until that time, all Union customers should continue to do their banking as usual.  Closing and conversion are expected to occur within 60 days of regulatory approval. Arvest Bank and Union Bank will be working together to ensure a smooth transition. 

Union Bank operates 10 branches throughout the Kansas City area from the Northland to Midtown to Lee's Summit. All Union Bank locations are in Missouri. Assets as of December 31, 2011 were $459 million.

“The addition of the Union Bank franchise will double the number of full-service Arvest branches in Kansas City and more than double our total assets in the market. Union Bank’s franchise will solidify our presence on the Missouri side of the metro area, particularly in the Northland,” said Larrabee. “We expect it to be a great fit of expanded presence, outstanding associates, and fantastic customers.”

Jernigan said Arvest will continue to build on the dream of Union Bank's founders, a group of entrepreneurs from various business backgrounds who came together to build a community bank based on unsurpassed customer service.

“A community bank built on customer service was unusual back then,” Jernigan said. “While it’s a coincidence that Arvest was started about the same time and with the same philosophy, it is quite deliberate that we have chosen to come together now.”

Larrabee added, “In addition to a history of outstanding customer service, Arvest will provide Union Bank’s customers with access to a wide range of new products and services including residential mortgage financing, investment and trust services, and some of the lowest banking fees in the country. Additionally, our branches operate from 7 am to 7 pm during the week and 8 am to 1 pm on Saturdays, so they will have the added benefit of more convenience.”

Founded as Bannister Bank & Trust in 1965, the bank established itself in a temporary location until moving to 9300 Blue Ridge Blvd, which remains their headquarters today. Bannister acquired Union Bank in 2001 and took the Union name. Many original depositors remain customers today.

“Arvest was founded in 1961 with a similar intense dedication to focusing on the customer above all else,” Jernigan said. “We also like that Arvest has local presidents and boards of directors in the 16 communities where it operates and, like Union, values being actively involved in those communities. We’re confident our customers will embrace this change, just as they have been loyal to Union for more than four decades.” 

Being able to afford to send your children to the colleges of their choice, without being limited by cost, can be one of the greatest satisfactions of being a parent.

But attending college is expensive. According to a study from the College Board (Trends in College Pricing 2006), the average total cost for a year of college (tuition, books, fees, room, board, transportation, and other expenses) was over $16,000 at public universities for in-state students, and over $33,000 at private colleges. And costs continue to rise.

Over the past decade, the cost of getting a college degree has gone up about 6% per year on average. If this trend continues, and all indications are that it will, the cost for a year of college will double in 12 years and triple in 19 years. And remember, increasing numbers of students are spending more than four years in college.

One of the keys to accumulating the money needed to send your child to college is to start saving early. Let's use an example of a seven year old (11 years until college) that will attend a state university as an in-state student. The estimated total current cost of a year at that university today is about $16,000. Assuming that costs increase 6% annually, her first year will cost over $30,000. If her parents want to have saved all of her college costs by the time she begins, they need to have accumulated over $132,000 by the time she begins college.

Let's assume her funds earn 5%. If her parents had started her savings at age four, they would have needed to save about $897 per month. If they start now when their daughter is seven years old, their monthly savings need to be $977. If they wait until she is 10, they will need to save $1,136 per month. If they wait until she is 13, they will need to save over $1,535 per month.

Starting to save early not only enables you to spread your saving over a longer period, but you also get the benefit of the earnings on the funds for a longer period of time. Arvest offers accounts and programs such as 529 College Savings Plans or Coverdell Education Savings Accounts for this very need. Our client investment advisors can you help you thoroughly plan and save for your child’s education.
 

(By clicking on external links, please be aware you will be leaving the Arvest website.)

There’s a new checking account in town. Arvest myBlue™ Checking has proved itself popular by many who have recently made the switch.  For only $6 a month, myBlue™ Checking holds the most value of Arvest’s checking accounts.  It gives you more—more security, more freedom, more choices.  With myBlue™ Checking, you’ll enjoy the perks of a free debit card, $10,000 in individual AD&D insurance, Family IDProtect™, free online and mobile banking, free unlimited online BillPay, $600 in overdraft coverage and a choice of paper statements or e.Statements.  What more could you ask for? 

In Oklahoma City, Okla., we asked some customers to share with us why they love myBlue™.  Here’s what some of them had to say…

“I opened an account today b/c my account at the other bank was not working out.  I am very pleased to have opened a new myBlue™ account here at Arvest.  P.S.  I love I.D. theft protection!  It’s worth the $6.00 a month for sure.”—Noora

“I like myBlue™ because I get the benefit of having a choice of either printed statements or e.Statements.  Also, I like having the AD&D insurance.  The added overdraft coverage of $600 is always a plus if needed.”—Sherrie

“I.D. theft coverage caught my eye!”—Andrew

“I came in to open a savings account & Melissa told me about myBlue™.  I think it is fantastic and wanted to switch. You never know what is going to happen and protection this cheap is awesome!”—Leslie

“I like the added identity protection and insurance that comes with the new account.”—John

If you are an existing customer and would like to switch your current account to a myBlue™ Checking account, please visit your nearby Arvest branch or give us a call.  If you are a new customer, you can sign up for your myBlue™ Checking account online, over the phone or at a nearby Arvest branch.  If you prefer a different checking account option, please review our checking products to find the best fit for you.

Do you love myBlue™?  Comment on this post and tell us and others why.

We are pleased to announce an update on our progress toward releasing a new Arvest Mobile Banking Android application.  Android has become a premier mobile operating system and we are aware many of our customers who are Android users have been frustrated that there has not been a dedicated app available to them in recent months. 

Available Within 60 Days

Our development team has been working diligently to bring an app to the Android Marketplace and we expect it to be available within the next 60 days.   The new Android app will come with a full selection of Arvest Mobile Banking functionality, including:

• Check balances
• Get account history
• Transfer funds
• Pay bills
• Locate a nearby Branch or ATM

What Should Android Users Do Now?

Currently, Android users should make sure they enroll in Mobile Banking and begin to use the Mobile Web and Text/SMS Banking versions until the app is released.  Enrolling and being an active user will mean that once the app is released, you can begin using it immediately.

Additionally, we will begin sending email updates to Mobile Banking users with Android phones to keep them informed.  Please contact customer service to ensure we have your current email address so we can make sure you are included in the updates.  Also watch the Arvest blog for more updates and some screen shots to be released soon.

We thank you for your patience as we complete the development process of the Android app; our technicians are working hard to bring it to you as soon as possible.

Questions About Mobile Banking?

For more information on Mobile Banking, visit the dedicated resource website.  If you have difficulty enrolling in Mobile Banking or using the service, please call (866) 952-9523 for personal assistance.
 

Growing at an alarming rate, identity theft has become a dark shadow that can follow anyone.  Last year alone, over eight million Americans were victims of identity fraud, and the pain it causes is both financially and emotionally exhausting. 

Family IDProtect™ is a service available at Arvest Bank service to help you fight against identity theft and fraud.  What makes it unique is that unlike many identity theft protection products and services, Arvest’s Family IDProtect™ not only covers you, but also covers your immediate family.  This includes:

• joint account holders,
• any children up to the age of 25 living at home, and
• elderly parents that live in your household. 

It also supplies you with Identity Theft Resolution Services.  This means that should you or a family member become a victim of identity theft or fraud, you will have a dedicated specialist to manage your case and walk you through the process of restoration until recovery. 

The vastness of coverage and features of this new service will allow you to maintain peace of mind when it comes to protecting your identity.

IDProtect™ coverage is included with myBlue™, Club and Preferred checking accounts. It can be added to Free Blue™ or Basic Blue™ checking accounts for $3 per month.  To make sure you are covered with IDProtect™, call us at (866) 952-9523 or visit a nearby branch location.

Happy National Popcorn Day!  You may be asking “why on earth is Arvest celebrating National Popcorn Day?”  This is a reasonable question.  However, we do have an answer.  Here’s how the story goes...

According to a long-term Arvest associate, it began around 30 years ago.  Sam Walton, founder of Arvest Bank, made an afternoon visit to the downtown Bentonville branch that’s nestled on the Bentonville Square.  He walked in and an unusual feeling came over him—a feeling that did not please him at all.  He mentioned that the atmosphere of the branch was too quiet and not friendly enough.  He instructed friend and Bentonville Bank President, Burt Stacy, to “pop some popcorn and have some balloons or something.”  Burt started popping popcorn, handing out balloons and playing music in the lobby to brighten up the branch for everyone who visits. 

The popcorn proved popular and soon after, other Arvest branches began doing the same.  Popping popcorn soon grew into a favorite Friday tradition and associates enjoyed the opportunity to hand out bags of popcorn to all Arvest branch visitors. 

Popcorn has established itself as a fundamental and unique part of the Arvest customer experience.  It is because of this tradition that we, Arvest Bank, celebrate National Popcorn Day. 

We invite you to celebrate with us!  Visit your local-area Arvest Bank branch for a bag of popcorn today.  We’ll also be giving away several Arvest Visa Gift Cards in a variety of popcorn-themed online contests!  Visit Arvest Bank on Facebook and @ArvestBank on Twitter all day today for many chances to win!

From all of us at Arvest Bank, Happy National Popcorn Day!
 

In order to save money, you must first be aware of how you spend money.  Have you ever developed a gut-wrenching fear in the pit of your belly or a feeling of despair when you thought about creating a household budget? Consider thinking about it as a "spending plan". A budget is simply the framework for planning how to spend and save your money. Follow these simple steps to create your own spending plan.

Track Expenses.  For two months, keep track of every dollar you spend. Yes, every dollar. You’d be surprised at how quickly that daily cup of coffee or late afternoon vending machine snack adds up. Although it may sound like a daunting task, this exercise will be the key to managing your money.

You’ll probably find you have two kinds of expenses: fixed and variable. Fixed expenses are those that are predictable and are paid at a regular interval—rent or mortgage, utilities, loan payments, insurance, childcare, etc. Variable expenses are a bit more difficult to capture since the amount and frequency changes. These expenses might include groceries, clothing, doctor visits, entertainment, charitable giving, etc.

To identify these expenses, use your bank statement, credit card statements, check register and ATM receipts to remind you where and when you spent your money. Assign each transaction to a category.

Analyze Spending.  Using money management software, a spreadsheet program, or even a notebook with a pencil and calculator, create categories for all your spending. Categories can be broad to begin with—housing, utilities, insurance, food, entertainment, etc. As you analyze how your money is spent, you may want to create more detailed categories or subcategories. For example, under utilities you may break down expenses by electric, gas/oil, water, etc. Record the date of each transaction, the category under which it falls, a description of where/how the money was spent, and the amount. Then add up the amount spent in each month for each category.

Create your Spending Plan. Now that you see where your money goes every month, create a plan for spending it. If working on paper, create a grid with your categories listed down the side and the months of the year across the top. Using your analysis from step 2, forecast your spending for each category by month, taking into consideration any circumstances that will affect it by month. For example, your electric bill may be higher in the summer to accommodate air conditioning. Your holiday spending may only take place for three months of the year. Don’t worry if your amounts aren’t 100% accurate—you’ll be able to make adjustments later.

Review and Adjust.  Your spending plan is a live tool. It will take on a life of its own if you don’t manage it. Review your spending every month and make adjustments in your plan where appropriate. The more time you invest in managing your budget, the more it will work for you.