Sister Banks, Meredith Village Savings Bank (MVSB) and Merrimack County Savings Bank (the Merrimack) recently implemented a new, complimentary Personal Financial Management (PFM) solution for its online banking customers. Both Banks have partnered with industry-leader, MX Money Management to provide these enhanced services.

"In a technology driven world, consumers are accustomed to instantly accessing information whenever and from wherever they need, so they're also looking to banks to keep them informed about their finances in the same manner," said Angela Strozewski, Senior Vice President and Operations Officer. "Money Management shows customers their entire financial picture in one place to help them stay on top of their daily spending, debt, savings for the future and so much more; all the information needed to make smart financial decisions right at their fingertips."

Money Management can be accessed by customers within online banking or from the each bank's mobile app. The tool aggregates a customer's financial relationships to help create budgets, set savings goals and manage debt. Key features include:

Development and customization of budgets based on spending patterns. Visual bubble charts allow users to quickly identify budget items that may need attention.

Auto categorization of expenses to aggregate spending trends. Money Management boasts the best auto categorization available with approximately 90% accuracy. Users can also manually categorize items in an extensive list of categories to keep track of specific items, such as tax deductible expenses.

A debt tracker that allows users to view all of their loans in one chart and to help prioritize payoffs.

The ability to set savings, debt payoff and retirement goals and to track and analyze net worth.

Customers can also elect to receive alerts about spending, payments or budgeting by email or text message.

The service was rolled out recently along with a responsive interface upgrade to MVSB and Merrimack online banking, which allows the website to automatically adjust to best fit any computer, tablet or screen size. The banks work regularly with their technology partners to keep online and mobile banking services as accessible and up to date as possible.

Strozewski adds, "We've always been well known for our involvement in the community and the service we provide to our customers locally, but behind the scenes we're constantly working to provide the latest in technology and security. It's our customer focus that drives us to invest in products like Money Management that give customers a simple, convenient way to manage their budget and spending."


Posted 4/2/18