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Why Direct Deposit Here?

When you file your taxes, you get to choose where your refund goes. Make sure it lands in the account that supports your goals.

With direct deposit to your Katahdin Trust account, you get:

Your refund can be an opportunity. Let’s help you make the most of it.

How to Direct Deposit Your Refund

It only takes a minute. Before you file your taxes, enter your Katahdin Trust routing number and the account number for the account you want your refund deposited into.

Katahdin Trust Routing Number:

011202392

Where to Find Your Account Number:

You can locate it:

Choose the Account That Fits Your Goals

Savings Account: Build momentum by depositing your refund directly into savings.

Checking Account: Keep your funds available for everyday needs.

Split Deposit: Want to save some and spend some? Most tax software allows you to send your refund to multiple accounts.

Filing Soon? Keep Your Info Handy

When you're ready to file, make sure you have the correct routing and account numbers nearby so you can easily enter them into your tax software.

Please consult your tax advisor.

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A Helpful Guide to Protect Yourself and Your Information

If you allowed someone remote access to your computer, tablet, or phone and later realized it was a scam, don’t panic. Follow the steps below to help secure your information and prevent further harm.

1- Disconnect Your Device

This immediately stops the scammer from accessing your device.

2. Contact Your Bank Right Away

Let your bank know what happened. We can:

3. Change Your Passwords (From a Different Device)

If practical, use another phone or computer to update your passwords—don’t do this on the affected device or network.

Update important accounts such as:

4. Remove Any Remote Access Software

If you installed programs like AnyDesk, TeamViewer, QuickAssist, LogMeIn, or others, uninstall them immediately.

5. Run a Security Scan

Run a full antivirus or anti‑malware scan on the device to check for harmful software.

If anything is found, follow the removal steps provided by your antivirus program.

6. Consider a Professional Device Check or Reset

If the scammer installed software, viewed sensitive information, or you’re unsure what they did, it may be safest to:

7. Check Your Email and Other Accounts for Changes

Scammers sometimes set up:

Review your account settings to make sure nothing has been changed.

8. Stay Alert for Follow‑Up Scams

Scammers often try again. Watch out for:

If you’re unsure whether a call or email is real, contact your bank directly.

9. Report the Scam

You can report the incident to:

Reporting helps protect others from similar scams.

We’re Here to Help

If you ever feel uncomfortable or unsure about a call, email, or request: Contact us first. We’re always happy to help you stay safe.

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This article is published by Am Miller from the America Saves team, STAYING ON TRACK WITH YOUR SPENDING & SAVINGS PLAN, https://americasaves.org/resource-center/insights/staying-on-track-with-your-spending-savings-plan/, 2023

Here are some tried-and-true strategies that can help keep you focused and on track with your plans.

Life happens (no matter what plans you may have) and can set our finances off in a tailspin if we let it. Even with the most thought-out plan, things can get in the way and cause us to fall off track with our finances from time to time.

Fortunately, there are things you can do to stay on course and keep your finances in line – even when life has thrown you a curveball - or two! Here are some tried-and-true strategies that can help keep you focused and on track with your plans:

Get on the right track today! Take the America Saves Pledge if you haven’t already and we’ll be your partner along the way. You’re future self with Thank You!

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This article is published by  the American Bankers Association, Protect Yourself and Your Money, ABA.com/advocacy/community-programs/consumer-resources/protect-your-money/fake-check-scams, 2024

Fake checks continue to be one of the most common instruments used to commit fraud against consumers. Before you deposit a check you weren’t expecting or wire funds to an unknown recipient, here is what you should know:

How do Fake Check Scams Work?

There are many variations of the scam. It usually starts with someone offering to:

Fraudsters issue you a check or money order worth more than the amount owed to you and instruct you to wire the excess funds back to them before receiving your lump sum payment. After you’ve sent the money, you find out that the check or money order is bogus.

Tips to prevent fake check scams:

What should you do to protect yourself?

This Scam Happens Way Too Often. Learn How to Prevent it.

The ABA Foundation and the FTC seek to raise awareness of the growing fake check scams.

VIEW THE FAKE CHECK SCAMS INFOGRAPHIC

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Call on Katahdin Trust to help you

At Katahdin Trust, we take financial security and safety seriously. While anyone can be a victim of fraud, many ways exist to minimize your risk. For example: 

Reach out to us today to contact any of our customer representatives.

Katahdin Trust Company. Community Banking at its best since 1918.

EOE/M/F/VET/DISABLED
Member FDIC
Equal Housing Lender

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Every day, thousands of people fall victim to fraudulent emails, texts, and calls from scammers pretending to be their bank. In this time of expanded use of online and mobile banking, the problem is only growing worse. The Federal Trade Commission’s report on fraud estimates that American consumers lost a staggering $8.8 billion to phishing scams and other fraud in 2022—an increase of 44% over 2021. 

It’s time to put scammers in their place.

Online scams aren’t so scary when you know what to look for. And at Katahdin Trust, we’re committed to helping you spot them as an extra layer of protection for your account. We’ve joined with the American Bankers Association and banks across the country in a nationwide effort to fight phishing—one scam at a time.

We want every bank customer to become a pro at spotting a phishing scam—and stop bank impostors in their tracks. It starts with these four words: Banks Never Ask That. Because when you know something sounds suspicious, you’ll be less likely to be fooled.

These top 3 phishing scams are full of red flags

According to financial planners, there are three pitfalls to avoid when spending around the holidays.

  1. Text Message: If you receive a text message from someone claiming to be your bank asking you to sign in, or offer up your personal information, it’s a scam. Banks never ask that.
  2. Email: Watch out for emails that ask you to click on a suspicious link or provide personal information. The sender may claim to be someone from your bank, but it’s a scam. Banks never ask that.
  3. Phone Call: Would your bank ever call you to verify your account number? No! Banks never ask that. If you’re ever in doubt that the caller is legitimate, just hang up and call the bank directly at a number you trust.

You’ve probably seen some of these scams before. But that doesn’t stop a scammer from trying. For tips, videos, and an interactive quiz to help you keep phishing criminals at bay, visit www.BanksNeverAskThat.com. And be sure to share the webpage with your friends and family.

Katahdin Trust Company. Community Banking at its best since 1918.
EOE/M/F/VET/DISABLED
Member FDIC
Equal Housing Lender

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This article is published by the American Bankers Association, Protect the Elderly from Financial Exploitation, ABA.com/advocacy/community-programs/consumer-resources/protect-your-money/elderly-financial-abuse, 2023

You, or someone you know, could become the victim of a growing crime in America — financial abuse of older Americans. Seniors are increasingly becoming targets for financial abuse. As people over 50 years old control over 70 percent of the nation's wealth, fraudsters are using new tactics to take advantage of retiring baby boomers and the growing number of older Americans. Senior financial abuse is estimated to have cost victims at least $2.9 billion last year alone.

What is Elder Financial Abuse?

It’s a crime that deprives older adults of their resources and ultimately their independence. Anyone who sees signs of theft, fraud, misuse of a person’s assets or credit, or use of undue influence to gain control of an older person’s money or property should be on the alert. Those are signs of possible exploitation. Older Americans that may have disabilities or rely on others for help can be susceptible to scams and other fraud. Advances in technology can also make it difficult for seniors to know who to trust and what's safe.

Despite these threats, taking simple steps to safeguard personal information and being aware of warning signs can protect aging men and women from financial abuse.

Tips for Seniors

What should you do to protect yourself?

What should you do if you are a victim of financial abuse?

Tips for Family and Friends

What are the warning signs of financial abuse?

The key to spotting financial abuse is a change in a person’s established financial patterns. Watch out for these “red flags”:

What should you do if you suspect financial abuse?

Remember
Never give your Social Security number, account number(s), or other personal financial information over the phone unless you initiated the call.

For more information, check out the FBI's Elder Fraud in Focus.

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Call on Katahdin Trust to help you

At Katahdin Trust, we take financial exploitation seriously and are always available to you if you suspect any fraudulent dealings are taking place in the name of an elder person you care about. For example: 

Reach out to us today to contact any of our customer representatives.

Katahdin Trust Company. Community Banking at its best since 1918.

EOE/M/F/VET/DISABLED
Member FDIC
Equal Housing Lender

CONTACT US REQUEST A "SAFE BANKING FOR SENIORS" PRESENTATION BACK TO BLOG PAGE  

When Maine Cash Access (MCA) was formed in the year 2000, there were more than 16 community banks offering 230+ surcharge-free ATMs. Over the years, several banks have exited the alliance and today there are only 10 member banks with 130 ATMs.

What is happening on January 19, 2023? 

On Thursday, January 19, 2023, the ten member MCA banks will no longer offer surcharge-free access to their ATMs. You will, however, be able to continue to use all 16 Katahdin Trust ATMs with a Katahdin Trust debit card surcharge-free!

What other alternatives do I have to access cash without paying a fee?

With this change, we also want to remind you there are other ways to access cash without paying a fee, like:

We are here to help you at all times. Please let us know if you’d like to talk about other account options we offer that provide surcharge-free ATM access. We are only a call away at 1-855-331-3221.

Thank you for banking with Katahdin Trust.

At non-Katahdin Trust ATMs, a $2 fee plus terminal owner charge may apply.
Zelle® and the Zelle® related marks are wholly owned by Early Warning Services, LLC and are used herein under license.

Katahdin Trust Company. Community Banking at its Best! Since 1918. Member FDIC. Equal Housing Lender. 

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With inflation still at an all-time high and the rise of fuel and grocery prices not letting up, the smartest way to get your holiday budget under control is to plan ahead now—and not burn up your budget with last-minute shopping.

A budget, simply put, is a spending plan based on your income and expenses. If you start now in November, estimating how much surplus money you’ll have for holiday gifts and parties, you’ll be financially better off when January rolls around.

Three biggest spending mistakes

According to financial planners, there are three pitfalls to avoid when spending around the holidays.

  1. Not setting up a spending budget per person, per gift. The common rule of thumb is to plan on spending between $50 and $100 on a gift for a family member and between $20 and $50 for a friend.
  2. Opening store credit cards. While it seems smart at first to get a discount on an item with a new store card, it actually hurts you in the long run as it spurs a hard inquiry on your credit score, which could knock it down a few points.
  3. Two words: Black Friday. This year, it’s Friday, November 25, the day after Thanksgiving. And even if there is a sale you can’t resist, check to make sure the item is in your holiday budget. Otherwise, that sale leads to overspending on an item you can’t afford, which cancels out the whole purpose of the sale price.

Avoid holiday scams

The holidays are a time of year when people are feeling generous and in the giving spirit—and scammers prey upon those feelings. Beware of what’s called non-delivery and non-payment crimes. The first instance is when you pay for an item or service online, but the goods are never received. In the second case, you’re the one shipping goods or offering services, but you never get paid. Last year, these two scams alone cheated more than $337 million dollars out of good-hearted people.

The FBI urges computer users to check each website’s URL to make sure it’s legitimate. Do an extra bit of research and check the company’s reviews before making a purchase. And always be wary of getting any suspicious links or attachments in your email or through social media. You could inadvertently download malware to your device.

With the ever-evolving tactics of cybercrime, there are multiple ways perpetrators attempt to swindle people online. The FBI reported that $6.9 billion was lost through internet crimes in 2021. Be sure to browse our past blog: How to Protect Yourself Against Cybercrime and Scammers and protect yourself and people in your life who might be vulnerable to these crimes.

How Katahdin Trust can help you prepare

With a solid holiday budget in place, put the power of Katahdin Trust in the palm of your hand with our mobile banking app. Check your daily spending limits with an Instant Balance Feature, get instant access to your Transaction History, or transfer money from one account to another with one click. To stay on top of your spending plan, you can also receive custom account and activity alerts and establish transaction controls for dollar amount limits. Going in on a gift with a family member or friend? You can send money to friends and family with Zelle®.

Additionally, you can start early by opening a special Christmas Club account, which only requires a $1 minimum to open and no monthly fee. Deposits are automatically transferred from a Katahdin Trust checking or savings account so you can “set it and forget it.”

Another way to save money is to use your debit card to purchase everything on your holiday list, rather than use a credit card, which has higher interest rates. If you’re interested in opening an account with Katahdin Trust, you can walk into a branch today and get a card to use immediately. Use the tips featured in this blog to keep your spending on track this holiday season and reach out to our customer service representatives if you have any other questions. We’re here to help!

Our mobile banking app is free but message and data rates from your wireless carrier may apply. Zelle and the Zelle related marks are wholly owned by Early Warning Services, LLC and are used herein under license. Please refer to Katahdin Trust's Fees for General Services brochure for additional fees that may apply. Member FDIC. Equal Housing Lender.

Katahdin Trust Company. Community Banking at its best since 1918.
EOE/M/F/VET/DISABLED
Member FDIC
Equal Housing Lender

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Many of us have an older person in our lives who protected us from financial mistakes growing up, whether it was our parents, family members, or trusted friends, and now the time has come to give them the same level of protection. October 1st marked International Day of Older Persons, a day to challenge negative stereotypes and misconceptions about older persons and aging...and a good time to check in on someone you care about.

While seniors sometimes need more assistance in their day-to-day activities, protecting a loved one from financial exploitation is paramount to that person’s physical health, mental health, and safety.

What is Financial Elder Abuse and Exploitation?

A 2022 Consumer Affairs report estimated that more than 3.5 million older adults are victims of financial exploitation, with older people being swindled out of $3 billion a year.

The federal government and every state have laws to protect older adults from such abuse. The United States Department of Justice defines this criminal action as when a perpetrator (sometimes well known to the victim, such as a friend, family member, or a caregiver) deceives the older person by improperly using “money, property, or other resources for monetary or personal benefit, profit or gain. This includes, but is not limited to, theft, misappropriation, concealment, misuse or fraudulent deprivation of money or property belonging to the elderly or adult with a disability.”

Often, the perpetrator has cultivated a trusting relationship with the older person, so that there is no suspicion over the latter’s financial activity. In cases where someone has Alzheimer’s or dementia, that person is even more vulnerable to being preyed on.

Examples of Financial Elder Abuse

Con artists are adept at targeting certain elders due to higher rates of cognitive decline, social isolation, and emotional vulnerability, particularly if they have trouble recognizing or reporting fraud. Nursing homes report that the most common types of financial abuse include:

Criminals have been particularly successful with scams involving the telephone and Internet, such as the Grandparent scam, where a con artist impersonates a grandchild in distress. Medical identity theft is another scam that con artists use to obtain social security numbers or medical ID numbers to gain access to the victim’s finances. There are many more schemes that fraudsters use and here’s a list to be aware of.

The most common instance of financial exploitation occurs when the perpetrator steals the elder’s valuable property, misuses the elder’s cash, cashes unauthorized checks or credit cards, or robs them in their own home while impersonating a utility service.

This can either be the work of a crooked financial advisor, who convinces an older person to buy annuities that mature after that person’s death or charges excessive commissions on trading. Or it can be even more insidious: for example, if a caregiver or family member withdraws money in the elder person’s name or makes changes to the elder’s property without consent. If the elder is suffering mental decline and the perpetrator tricks the person into signing over a power of attorney, the perpetrator may have the ability to change the elder’s will, may be able to remove the elder’s property title, or may be able to add the perpetrator’s name to a bank account.

Consequences of Financial Elder Abuse

The monetary consequences can be devastating if an elder has been duped long enough, resulting in a loss of life savings. Since many older adults are retired and living on fixed incomes, financial exploitation can result in no longer being able to afford rent, assisted living care, or even basic living expenses—unlikely to be replaced with additional earnings. Compounded upon that, emotional and physical problems can manifest after exploitation.

A 2019 study on Finance, Cognition, and Health found that older individuals who realized they’ve been exploited by scams or fraud suffered greater symptoms of depression and anxiety, sleep issues, and in some cases, worsened medical conditions.

How to protect a loved one from elder financial abuse

First, learn to recognize the signs: particularly by checking the elder’s finances. Take note if there are unusual purchases or money transfers by the individual or caregiver, unpaid bills, fake signatures on important documents, or sudden changes in the person’s will.

Do a wellness check to determine if the elder is in any danger; if so, call the police. If not, but you suspect financial abuse, contact an Adult Protective Services agency. You can also check in with a mandated reporter (a professional required to report suspected abuse to the authorities, such as the older person’s doctor or nurse).

Additionally, The Maine Long-Term Care Ombudsman Program, a non-profit agency, provides free and confidential advocacy services for residents of nursing homes and assisted care living centers.

Call on Katahdin Trust to help you

At Katahdin Trust, we take financial exploitation seriously and are always available to you if you suspect any fraudulent dealings are taking place in the name of an elder person you care about. For example: 

Reach out to us today to contact any of our customer representatives.

Katahdin Trust Company. Community Banking at its best since 1918.

EOE/M/F/VET/DISABLED
Member FDIC
Equal Housing Lender

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Over the last few years, industries across the world have been affected by “The Great Resignation.” Being forced to work from home, making changes to our typical daily routines, and living with uncertainty have caused employees to re-evaluate their career goals, while also being conscious of the health and wellness of their families.

For many, this has meant a complete career change. Understanding and agreeing with the mission and values of the company you work for has become as critical as ever, which is why focusing on careers that are rewarding and allow you to help others has been a priority for many job seekers. One such career is banking, where you are able to assist your local community members on a daily basis, whether they are looking for financial advice, want to start a business, or want to take out a loan. A career in banking is something most individuals can pursue, and some positions do not require higher education. Here is some information about what a career in banking looks like, and why it might be a great fit for you.

What Do Bankers Do?

A banker’s main job is to provide financial assistance to customers and help them achieve their goals. Bankers assist customers with setting up savings and checking accounts, helping them deposit and withdraw money from these accounts, advising them on loan options, and acting with the customer’s best interest in mind. However, there is a lot more work that is done behind the scenes that help banks function at a high level.

Different Jobs in Banking

When you walk into a bank, the first people you see will likely be the tellers, sometimes known as Community Bankers or Universal Bankers, who are responsible for handling everyday transactions and assisting customers with their banking needs. These employees fall under the Retail Services Department, which helps to service deposit and loan accounts. Every bank has a variety of other departments in place to help the bank be successful. These can include departments such as:

Beyond what most people can see, banking is a lot more than helping people deposit checks or withdraw money from their accounts. There are roles for people with different personalities and skill sets, yet each role works together to assist customers to achieve their financial goals.

Necessary Skills and Education

To get your banking career started, you will need a foundation of skills including, but not limited to, math/statistics, business, and customer service. Math will be important in virtually every role, whether you are analyzing the effectiveness of the latest advertising campaign or looking for ways to help your customer save for their child’s education. Business skills will be valuable for offering advice to customers looking for loans and lending services. Finally, language skills and relationship skills are important skill sets for good customer service in order to maintain a positive and supportive environment.

You can be hired for some roles with a high school diploma, but to be considered for higher-level positions, obtaining a four-year degree or master’s degree will be key. A finance degree is a smart choice for anyone with a passion for the analysis of numbers and key metrics (investment banking, credit analysis, financial planning, etc.), whereas a business degree is a more flexible and well-rounded option for someone who might not know exactly what sector of banking they want to enter into. Additionally, degrees in Accounting, Computer Science, and Statistics can be useful for more specific internal positions at most banks.

Why Banking?

If you’re wondering if a career in banking is right for you, there is a wide range of benefits for you to consider. Besides the job satisfaction of helping people manage their finances or helping the bank in a support role, banking careers offer competitive salaries, retirement benefits, and healthcare options. Banking is also very conducive to allowing entry-level employees to grow their careers through additional training and development. Additionally, banking allows for stable hours, an important work-life balance, and the ability to provide expertise on a variety of topics to community members. Local banks also play a critical role in the community and place a very high value on volunteerism. Not only will you be given the time to be active in the organizations that matter to you and your neighbors, but it’s encouraged.

Start Your Career With Katahdin Trust

Looking for more than just a job? Want to make a difference where you live and work? Explore what's possible with a career at Katahdin Trust, named one of the 2018-2024 Best Places to Work in Maine and designated as a 2022 - 2024 Best Place for Working Parents. We offer personal and business banking services across our 16 branches from Scarborough to Fort Kent, plus an Operations Center in Houlton. With more than 40 career choices, we have positions available to match your interests and passions, complete with the ability to move up in your career with certificates and diplomas in dozens of banking categories. You'll receive the incentives, tools, resources, and personal support you need to pursue your professional dreams and cultivate meaningful relationships with the people and communities you support. Take the next step in your banking career today and view our job openings page at Katahdin Trust Company.

Katahdin Trust Company. Community Banking at its best since 1918.
EOE/M/F/VET/DISABLED
Member FDIC
Equal Housing Lender

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