In 1903, Maggie Lee Walker made history by becoming the first Black woman to establish a bank. Richmond, VA was the place, and her vision was to provide economic opportunity to women and the city’s emerging Black middle class. She also served as the bank’s president. Her hard work and leadership helped break down barriers for others to follow. In 2020, Walker was one of eight women featured in “The Only One in the Room” display at the Smithsonian National Museum of American History. […]
Why Now is a Great Time to Switch Banks and Why it Should be Providence Bank
December is a terrific time to reflect on the year, decide what could be better, and make positive changes. In particular, it’s a chance to prepare your finances for whatever lies ahead. The decisions you make today can help you save thousands of dollars in the long run by giving you clear, tangible targets for spending and saving. […]
Beating the Holiday Financial Blues
The holidays are the time to relax and enjoy time with loved ones, but they can also mean a hard financial hit right when you need it least. Even with those once-a-year deals, you could still find yourself spending more than you planned. If you use credit, it can affect your finances for months. With a little planning, you can spare your wallet and still enjoy the celebrations. […]
Why You Should Still Balance Your Checking Accounts
Do you carry your checkbook with you? Probably not. Online financial transactions are everyday occurrences. It’s easy to forget the things we once did, like balancing our checkbooks. But you should still balance your checking accounts. […]
5 Ways to Boost Local Businesses in Your Community
Small businesses are responsible for about 66% of new jobs and drive almost half the economic activity in the United States. Yet, small local shops are under increasing pressure. Big box competitors and e-commerce sites are making it harder for locally owned stores to compete. […]
Professional Banking with Tailored Lending Services
If you have a small or mid-sized business, professional services lending from your trusted community bank can help you go to the next level. At this time when business may be down and credit is tight, Providence Bank can help you keep moving forward with your goals. […]
Benefits of a Regular Savings Account
Saving for your future is important; however, contributing to an employee retirement account isn’t the only way to do it. While 401(k)s and other similar retirement funds are helpful, you should consider other ways to invest in your future as well. Although you can invest in stocks or bonds, those do carry some risk. If you’re looking for a long-term investment that’s risk-free, then you should open up a savings account. A savings account may not be the most exciting investment, but it’s certainly one of the most sound. […]
Warning Signs of Money Scams
Familiarizing yourself with the tell-tale signs of money scams is the best way to protect yourself from scammers. Many scammers gain your trust by impersonating a known person or by requiring you to pass through verification procedures in an effort to steal from you. The following are some of the common warning signs of money scams. […]
Restructuring Your COVID-19 Spending Habits
There’s no denying that the current pandemic has disrupted lives around the globe. Even if you haven’t felt the effects of the virus physically, you’ve likely felt it financially. Whether it is from extended time away from the job, losing your job , or the business, itself, folding, the monetary uncertainty is something you are likely worried about. While it’s hard to predict when things will begin to let up, or when your particular line of work might return to a semblance of normal, you’ll want to adjust your finances in order to make ends meet. Here are a few tips and suggestions on restructuring your finances and saving extra money. […]
Providence Bank’s Business and Consumer Services
As an entrepreneur or consumer, you rely on your bank for a wide range of resources. These essential tools are crucial in your day to day transactions, and even in your personal life. Though not all of the services available at the bank are relevant to you, it is good to familiarize yourself with these services, in case you require them later. […]