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December 11, 2014

‘Tis the Season for Debit Card Fraud

Posted in Consumer Banking

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‘TIS THE SEASON FOR DEBIT CARD FRAUD

Advisory to Customers

As you may have noticed, the national media is full of warnings about debit and credit card fraud.  VNB wants to be sure our customers are prepared and on the lookout for potential fraud during the holiday season. We are taking additional steps to protect our debit card customers during this  time.

VNB is temporarily limiting the aggregate daily debit card transactions (ATM, online and point of sale purchases) to $1000 per customer over the holidays, unless otherwise approved.  This step was taken to limit the potential impact of fraudulent transactions during this period of heightened fraud alert.  We do not wish to inconvenience any of our customers and  allow exceptions to the daily limit through our Service Center at 1-877-817-8621. To better support your requests, we have extended the hours of the Service Center until December 24th to the following:

Service Center Hours

Monday through Friday ~ 8:30 am – 10:00 pm

Saturday ~ 9:00 am – 9:00 pm

Sunday   ~ 10:00 am – 6:00 pm

Christmas Eve ~ 8:30 am – 6:30 pm

There are a few simple steps you can take to protect your own financial security.  Most importantly, please review your account transactions and account balances daily, either online at vnb.com or over the phone at 1-877-366-3862.  If you notice any unauthorized activity, please alert the bank right away by calling 1-877-817-8621.  If you are not currently enrolled in online banking but have Internet access, please sign up for online banking at VNB.com.  Online access to your account(s) will allow you to check your account balances and activity from anywhere at anytime.

For more safety tips on fraud prevention, please see our recent blog post, http://www.vnb.com/index.php/blog/P3.  We may not be able to stop thieves from attempting to access our financial information, but together we can do our best to prevent easy access and limit their success.

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December 09, 2014

Why Community Banks Matter

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From the Desk of Glenn Rust, President and CEO Virginia National Bank

December 9, 2014

WHY COMMUNITY BANKS MATTER

One of my favorite things to do as CEO of VNB is get out and talk with our customers.
I’ve recently completed a series of local breakfast presentations on the economy and
state of banking in the U.S. A particular slide in my presentation on the banking industry
sparked a lot of interest and I thought I would share it with you. The pie chart on the left
depicts the number of F.D.I.C. insured banking institutions by size in the U.S. The pie
chart on the right depicts the concentration of assets by institution size. As you can see,
80% of the banking industry assets are held by 1% of the total number of insured banks.
Banks under $1 billion, like VNB, make up 90% of the total number of banks, yet hold
only 10% of the nations banking assets. It makes you wonder... do community banks
really matter? The resounding answer to this question is “yes!”

                 

 

 

 

 

 

 

 

 

 

 

 

 

 

According to the Independent Community Bankers of America, Community Banks offer
their own advantages over large institutions. Community banks focus on the needs of
local families, businesses and farmers, channeling most of their loans to the
neighborhoods where their customers live and work. Because community banks are
locally owned and operated, they have a better sense of the local economy and can
make informed lending decisions factoring in things like character and special
circumstances since credit decisions are made in the market. Community banks are
uniquely positioned to understand the challenges of small business - the banks
themselves are small businesses. The capital community banks provide to help small
business owners thrive multiplies throughout the local economy in the form of job
creation and payments to suppliers or transporters. According to the F.D.I.C.,
community banks provided 46% of small business loans under $1 million in 2011
despite controlling only 14% of the nation’s capital assets. Finally, community banks are
the “boots on the ground” when it comes to local giving and supporting non-profits with
time and talent. Last year alone, VNB donated more than $323,000 to over 100 nonprofits
and charitable organizations in the communities we serve. Our bankers serve on
local non-profit boards and volunteer their time in many ways to keep our community
strong. The industry has seen a lot of consolidation over the last twenty years but,
thankfully, community banking is here to stay.

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December 05, 2014

Join Us For The Freedom 5K

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JOIN US FOR THE FREEDOM 5K

Put on your running shoes and join VNB at the Freedom 5K on December​ 13th ~ 9:00 am start at the Old Trail Village in Crozet. There is no better way to celebrate the season of giving than to help raise funds to benefit current and former local military members and their families. Proceeds from the race support  ParadeRest, the local chapter of Blue Star Families, and Folds of Honor, an organization dedicated to creating scholarships for children who have lost a parent in combat.  For more information visit www.freedom5k.net

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December 01, 2014

VNB Sponsors the Paramount Theater’s Third Annual Alternative Gift Fair

Posted in Community News

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VNB SPONSORS THE PARAMOUNT THEATER’S THIRD ANNUAL ALTERNATIVE GIFT FAIR

Join VNB as we kick off the holiday season of giving at The Paramount Theater’s Third Annual Alternative Gift Fair on Thursday, December 4th ~ Noon to 7:00pm. Local nonprofit organizations will share information about their projects and mission with community members at individual booths set up throughout the theater. In return, community members, or “shoppers”, can decide which nonprofit group they might like to support with contributions made in honor of friends and family, in lieu of a traditional holiday gift.

With recent polls showing that 84% of Americans report they would prefer a less materialistic holiday, the Fair provides an alternative to the traditional holiday shopping experience. Each gift provides critical support for a diverse collection of nonprofits in our community – honoring the spirit of giving, while not amassing more “stuff.” Gifts can range from any amount and are tax deductible. The amount is not disclosed to the recipient, making the alternative gifts the perfect solution for co-workers, friends, or that “hard to shop for” person on your list. 

The Paramount’s Alternative Gift Fair has raised thousands of dollars for dozens of Charlottesville’s non-profits over the past two years. The Fair supports a wide range of causes including organizations dedicated to energy, poverty, animal rescue, nature, the arts, education, innovation, and more. Participants have included Blue Ridge Area Food Bank, Building Goodness Foundation, Charlottesville-Albemarle Rescue Squad, Charlottesville Free Clinic, Habitat For Humanity, Hope Community Center, Jefferson Area Board for Aging (JABA), Literacy Volunteers of Albemarle/Charlottesville, Meals on Wheels, PACEM, Piedmont Arts Council, Service Dogs of Virginia, and many more.

Shoppers may pay by cash, check, or credit card, and one hundred percent of all donations go to the designated charities. Once a gift is given, the shopper will be provided with a card to share with their gift recipient. The Fair will feature complimentary refreshments for the shoppers and all nonprofit participants.

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