GRBblog

GRB Mortgage Starts New Year with Benefit for Open Door Mission

As a residential mortgage provider, GRB has the pleasure of helping hundreds of individuals and families buy homes each year.  As we begin the new year and feel the temperatures dropping outside, it’s hard not to think about those who cannot come home to a warm, safe home.  In Rochester and Monroe County, those who are homeless number in the hundreds on any given night.

To help the Open Door Mission, one of our community’s leading resources for the homeless, GRB Mortgage will donate $25 for every home mortgage application taken in the month of January 2017.  GRB is also collecting donations of coffee, sugar, paper products, bath towels, socks and underwear for men, boots and clothing for women and children, men’s flipflops and twin bed sheets.  The donation box is in our lobby at 1850 South Winton Road.

More Merchants Requiring a PIN with Debit Transactions

Whether you are shopping brick and mortar or online, making sure you are able to do so in a secure manner and as easily as possible is crucial. Please note the following tips:

More Merchants are Requiring a PIN with Debit Transactions – In an effort to reduce fraud, many merchants are requiring that debit card users input their Personal Identification Number (PIN) for transactions.  This may be a new policy for merchants that have never required a PIN or signature for debit transactions in the past.  Make sure you know your PIN if using your debit card.  If prompted during a transaction, still select “debit” at the merchant’s terminal then enter your PIN.

Stay Safe from Fraud when Shopping Online – During the holidays, you may significantly expand the number of merchants you deal with online.  This can provide additional exposure for fraud.  The Federal Trade Commission recommends a number of simple safeguards for online shopping to keep your financial information secure.

GRB Moves Up in Top 100 Rankings

“Appearing on the Top 100 list is a tremendous honor.  This year, I cannot say enough about the employee team here at GRB.  Through the move to our new headquarters and all the growth in our business, they remained focused and continued to deliver the high level of personal service that sets us apart as a community bank,” said GRB President and CEO Phil Pecora.  “We are also pleased to note that quite a few of our partners and customers were also recognized on this year’s Top 100 list.  It is a pleasure to work with quality organizations that have made such a positive impact on our community.”

The Top 100 program recognizes Rochester’s reputation as a region of innovation spurred by a strong entrepreneurial spirit.  To be eligible for the Rochester Chamber Top 100, businesses must be independent, privately held, headquartered in the nine-county Finger Lakes region, and have revenue of at least $1 million in each of the three most recent fiscal years.

The 2016 Rochester Chamber Top 100 companies combined for nearly $14 billion in revenue and employed more than 104,000 people in the last fiscal year.

Staying Safe when Shopping Online

With the holiday season in full swing, many consumers will find themselves shopping online.  Stay safe with these suggestions from the Federal Trade Commission:

Get the Details

Know who you’re dealing with.

Anyone can set up shop online under almost any name. Confirm the online seller’s physical address and phone number in case you have questions or problems. And if you get an email or pop-up message that asks for your financial information while you’re browsing, don’t reply or follow the link. Legitimate companies don’t ask for information that way.

Know what you’re buying.

Read the seller’s description of the product closely, especially the fine print. Words like “refurbished,” “vintage,” or “close-out” may indicate that the product is in less-than-mint condition, while name-brand items with bargain basement prices could be counterfeits.

Know what it will cost.

Check out websites that offer price comparisons and then compare “apples to apples.” Factor shipping and handling into the total cost of your purchase. Do not send cash or money transfers under any circumstances.

GRB CFO Gary Schwingel Joins Mary Cariola Board of Directors

Mary Cariola Children’s Center serves children with multiple, complex disabilities; public and private schools aren’t able to accommodate these children. It was founded in 1949 by Mrs. Mary A. Cariola, along with parents and friends of children with significant disabilities. Over the years, the Center has evolved from a day care to a nationally renowned agency that strategically maps out a customized plan—clinically and educationally—for every child who walks through its doors. For more information on the agency, go to the Mary Cariola Web site.

Congratulations, Gary!

Same Day ACH Phase 1 Begins September 23

On Sept. 23, 2016, the banking industry will introduce a new faster electronic payment option for eligible transactions known as Same Day ACH or “SDA”. Introduced by the National Automated Clearinghouse Association (NACHA), this change will enable ACH Originators to send eligible transactions to settle on the same day as initiation.

In order to make the adoption of this new option as smooth as possible financial institutions, including GRB, will be rolling out this new capability in three phases:

• Phase 1 will be effective on Sept. 23, 2016. It requires all institutions to receive eligible Same Day ACH payments. Offering origination of Same Day ACH transactions will be optional for all institutions.
• Phase 2 will become effective on Sept. 15, 2017. It will add the availability of processing eligible Same Day ACH debit transactions.
• Phase 3 will be effective on March 16, 2018 and will require institutions to post Same Day ACH transactions by 5p.m. local time.

There will be no additional charge to receive a Same Day ACH transaction and no impact to traditional ACH transactions, as they will continue to settle within the normal 1-2 day timeframes.

Unfortunately, international transactions and transactions above $25,000 will not be eligible for same day processing. Initially, only credit files will be eligible until the implementation of phase 2. Phase 2 will include debit transaction processing.

GRB on Point with Online & Mobile Banking Trends, Announces Enhancements to Mobile App

Online and mobile banking are now the most preferred forms of banking, with more than half of all Americans managing their accounts online, according to recent survey results released by the American Bankers Association (ABA). GRB is pleased to note that it is following this trend closely and has introduced additional enhancements to its GRBmobile App for Android and iOS.

In the ABA’s annual survey, online banking with a computer or tablet came in at 55% and mobile devices registered 18% when respondents were asked, “Which method do you use most often to manage your bank account(s)?” The boost in mobile use was a full 6 points over the previous year’s survey.

“More people are walking around today with their mobile device in hand, and banks have made it easier than ever for them to access their accounts anytime and anywhere,” said ABA SVP Nessa Feddis. “It’s no surprise that millennials and other digital natives are embracing the convenience of technology to conduct quick transactions. Mobile banking is also a helpful real-time option for those who have a smartphone but not a computer.”

The chart at the right provides an overview of the ABA’s survey results.

“The old adage of ‘be where they are’ rings true with banking,” said Feddis. “People like options, and today’s banks offer a diverse menu of banking methods to meet the needs and preferences of their customers.”

GRB is actively adding new features and capabilities to its online and mobile banking solutions. The most recent enhancements to the GRBmobile App include a number of usability and security features such as:

• Touch ID for iOS
• Viewing Check and Deposit images
• Viewing statements in GRBmobile Deposit
• Customer-initiated password change
• And more…

To find out more about the latest updates to GRBmobile, view the GRBmobile Enhancement Guide.

To view a PDF file, download Acrobat Reader.

GRB Mortgage Raises Awareness and Funds for Veterans Outreach Center

Capping off a month-long fundraising effort, the GRB Mortgage team was pleased to present a check for $3,100 to Veterans Outreach Center (VOC) Executive Director Todd Baxter. GRB Mortgage donated $25 to the VOC for each mortgage application submitted during the month of July.

“Real money doing real things for our veterans,” said Baxter as he accepted the check. “Thank you for your efforts and for just helping us raise awareness.”

Raising awareness of the struggles our local veterans face is an ongoing mission for the VOC. Veterans who reach out to the VOC often need a wide range of critical services including benefits counseling, therapy, housing, job training and more.

Baxter noted that last year the VOC helped more than 1,000 veterans and worked with local employers to place more than 400 in good-paying jobs.

“We also run a shelter with 28 beds for homeless veterans,” said Baxter. “It’s always full.”

Each year, the GRB Mortgage team helps dozens of veterans purchase homes through Veterans Administration loans. But for those struggling with the transition when they come home, more assistance is often necessary. The VOC’s programs and services are all available to veterans free of cost.

“This is an amazing thing we’ve done,” said Jacqueline Sloan, a GRB Mortgage Sales Assistant and the wife of an active duty soldier.

Thank you to the GRB Mortgage team for their efforts in making the VOC fundraiser a success. Congratulations, team!

GRB President and CEO Phil Pecora Appointed Chairman of McQuaid Jesuit’s Board of Trustees

GRB is proud to announce the appointment of President and CEO Phil Pecora to the position of Chairman of the McQuaid Jesuit Board of Trustees.

Pecora, a 1988 graduate ofMcQuaid Jesuit,joined the school’s Board of Trustees in 2008 and has served in a variety of roles including as a member of the Executive Committee, a position he will continue to hold.

“[Phil Pecora’s] personal experience and commitment will infuse a leadership that will guide McQuaid Jesuit into the next phase of its history,” says McQuaid Jesuit President, Rev. Robert E. Reiser, S.J.

McQuaid Jesuit’s Board of Trustees has 26 members along with four honorary members.