‘Financial Help’ Archives
How a Federal Tax Credit Can Help Neighborhoods Thrive
By AMANDA THEISEN, Communications Manager at Sunrise Banks Helping communities thrive takes a lot of resources. Innovation and creativity can’t happen without people, ideas and cooperation. And progress can’t happen without time, talent and commitment.Then there’s the money factor. Whether someone wants to start a business, a nonprofit wants to expand its programming, or a community wants to revitalize buildings in their neighborhood, it always takes some form of money to make that happen. That’s where a program like the New Markets Tax Credit comes in. And if you’re a business owner, a nonprofit leader or a community activist working in a low-income neighborhood, low-cost financing options through the New Markets Tax Credit allocation recently awarded to Sunrise Banks may be a good fit for your project. What is the New Markets Tax Credit program?Launched in 2000, the New Markets Tax Credit (NMTC) program is a federal tax credit that is designed to incentivize [...]
Making Critical Choices for Retirement
By AMANDA THEISEN, Sunrise Banks Life in retirement can come with a lot of freedom – the freedom to do what you want, when, where and with whom you want. It could mean trading in those frigid Minnesota winters for someplace warmer, traveling the world with a loved one, volunteering for causes you care about, or fulfilling another long-held dream.While it’s fun to dream about retiring, thinking about the money side of retirement may not be as fun, especially if you’re getting a late start on saving. According to the 2022 Survey of Consumer Finances, almost half of American households had no savings in retirement accounts, such as 401(K), 403(b), IRA, thrift savings accounts or pensions.October is National Retirement Security Month. Whether you’re just beginning your career or nearing its end, it’s never too early to think about what you want retirement to look like. The sooner you make a plan and put it into action, the more choices you’ll have in your golden [...]
September is National Preparedness Month
Are your finances ready for an emergency? By AMANDA THEISEN, Sunrise Banks A financial emergency can strike anywhere, any time. Your car or a home appliance breaks down. A fire or natural disaster damages your home. You or someone you love suffers a medical emergency or life altering diagnosis. The list goes on and on.During National Preparedness Month in September, organizations encourage us to look at our finances and see how we can better shore them up in case the unthinkable were to happen. Yet, countless surveys show most Americans are not prepared to handle unexpected finances.According to Bankrate’s latest Annual Emergency Savings Report, 27% of U.S. adults have no emergency savings. More than half say they aren’t comfortable with the amount of money they do have in emergency savings. And more than 1 in 3 Americans have more credit card debt than emergency savings.The prospect of what to do next may feel overwhelming should you find yourself in a financial emergency. [...]
