CBS News recently compiled a list of “10 high-tech fat burners for fitness geeks,” which includes everything from vibrating weights to stationary bikes with entertainment systems. These products make working out fun and challenging, offering a new twist for those tired of the same old routine. Here are some highlights from the list:

• TrekDesk Treadmill Desk: This isn’t your average treadmill accessory. The desk consists of a 72-inch by 34-inch surface, slots for phones, pens and coffee cups, and even a file tray. Treadmills are not included, but the desks easily fit around any standard-size machine. For about $500, you can get work done while shedding pounds – it’s the perfect gift for the ultimate multi-tasker.

• TurboSonic Whole Body Vibration: Attractive to those who dislike traditional exercise methods, the TurboSonic Whole Body Vibration collection features different styles of vibrating platforms that you stand on for a minimum of 10 minutes. The makers of these futuristic machines say the devices enhance users’ strength, endurance and flexibility while increasing blood circulation and activating the lymph system. If this sounds intriguing to you, and you have $7,500 to $16,000 to spend, check it out.

• ErgoBike Premium 8i: Daum Electronic, in Germany, promises to please with this combination stationary bike/entertainment system. The bike is outfitted with speakers, a microphone, camera and Internet connection. Users can race against each other and communicate over the headsets. You’ll be so distracted by all the bells and whistles on the ErgoBike, perhaps you won’t even realize that you’re exercising. 

• BodyVib Vibrating Dumbbells: Sold by British company Pro-Idee, these lightweight dumbbells vibrate at 36 cycles per second – more than 2,000 vibrations a minute. The result? Supposedly an increased training intensity up to 50 percent. The BodyVib Vibrating Dumbbells sell for about $1,100.

• Check your credit report for errors: The first step you should take before applying for a loan, whether you have a high or a low credit score, is to check your credit report for errors. One inaccuracy on your credit report can make a big difference in your FICO score. There are three credit reporting bureaus whose reports you need to check: TransUnion, Experian and Equifax.
• Work with your established financial institution: It is often easier for a borrower with a lower credit score to get a loan from a financial institution with which he or she already has a relationship. Talk to a loan officer to see what he or she can offer.
• Make large payments, on time: Reducing your debt always helps your credit score, but even more important is the process of making payments on time. For a few months before you plan to apply for a loan, make larger-than-normal payments on time; you’ll improve your credit score through that one simple move.
• Pay something off: If your debt-to-income ratio is high, your ability to get a loan will suffer. If your account balances are close to your account limits, your credit score is similarly impacted. Reduce your balance-to-limit ratio by paying off some of your smaller balances before you apply for a loan. Not only will this help your credit score, but it will also reduce the amount of interest you pay to creditors each month.
• Talk to your creditors: If a creditor was paid in full but paid late, that history may be negatively affecting your credit score. You can call creditors to see if they will remove negative history from your report; especially with paid-off debt, they may be amenable to this. Additionally, if a recent late payment was reported to the credit bureau and is hurting your score, but you are generally an on-time payer with that creditor, call the company to see if it will re-report the data to remove the black mark on your credit record.

• Electronic money (e-money): You can’t go into a pharmacy or retailer today without noticing gift cards, which can be used online. These gift cards are examples of e-money. Another type of card is a stored-value card. These types of transactions are common with public transportation passes or telephone cards. Note that some stored-value cards can be “reloaded” at cash machines or by the merchants, while others are simply thrown away after their use. Some of these cards may also be “smart cards,” which means you can use them as either credit cards or debit cards.

• E-wallets: According to the FTC, “some Internet-based payment systems allow value to be transmitted through computers.” These are called e-wallets and are usually for making small online purchases, such as coffee or magazines. Transactions made with e-wallets may be accessed via stored value or through an online account.

• Deal with businesses you know and trust: And make sure you’re entering personal or financial information where it should be – on an order form.
• Read the merchant’s privacy policy before you make any payment: This will help you determine what information they will need and how it will be shared with others. If you are uncomfortable with a policy, don’t make the purchase.
• Guard your personal information: Be careful when giving out your address, telephone number, Social Security number, account number or e-mail addresses. Remember that some scam artists may pose as merchants you do business with and ask for this information online. Before giving out information, contact the merchant by phone or via the website to verify that the merchant is requesting your information.
• Check your browser: Is your computer’s Internet browser, which encrypts information you send over the Internet, up to date? Be sure to check with the creator of the browser and download the latest version. Also, every time you purchase something online, watch for the lock symbol and the letters “https” in the URL of the website. These show that you have a secure connection.
• Read the fine print regarding returns and shipping: This type of information should be available on the merchant’s website.
• Never give out your password to anyone online: Also don’t choose passwords that are easy to guess, such as your address or phone number.
• Do not download files from strangers or click hyperlinks: These may contain viruses or programs that capture information in your computer.
• Watch your account activity: By monitoring your accounts, you’ll be able to detect fraud. If you notice an unauthorized transaction, report it immediately. And if your card is stolen, report it immediately.

• Charges or transfers that you or anyone authorized to use your account have not made
• Charges or transfers that are improperly defined or have the wrong purchase amount or date
• Mathematical or similar errors
• A creditor’s failure to properly reflect payments, credits or electronic fund transfers
• A creditor’s failure to deliver credit billing statements to your current address, provided you sent written notice of your address 20 days before the billing period ended
• Credit charges or electronic fund transfers for which you have requested an explanation or documentation due to possible error

HSAs enable these individuals to save money on a pretax basis that they can use to pay for qualified, out-of-pocket medical expenses they incur as participants in an HDHP. Funds can be contributed to HSAs by employers and/or individuals themselves. In 2012, up to $3,100 may be contributed to individual HSAs, while the 2012 HSA annual contribution limit for families is $6,250.

Individuals’ HSA contributions can be made in one of two ways: via a payroll deduction, in which case the contributions go directly from an employer into the employee’s HSA before income taxes are taken out, or by the individual writing a check and depositing it into his or her account.The first option is generally preferable from a tax standpoint, because it enables you to contribute what are known as “pretax dollars” to your HSA. Not only will you pay less money in current income taxes, but the interest and earnings on money deposited into an HSA are also tax-free.  Regardless of age, money withdrawn must be used for qualified medical expenses to have the distribution be tax and penalty free.

In order to deposit money into an HSA via payroll deduction, your employer must offer what’s known as a salary reduction or cafeteria plan. If your employer doesn’t offer such a plan, or if you’re self-employed, you cannot make pretax contributions into an HSA.

But that doesn’t mean you can’t still take advantage of an HSA’s tax benefits. However, instead of enjoying the convenience of pretax contributions, you’ll have to deduct your HSA contributions on your federal income tax return.

The good news is that such after-tax HSA contributions qualify as what’s known as an “above the line” tax deduction. This means you don’t have to itemize deductions by filling out Form 1040, Schedule A, in order to claim the HSA deduction. Instead, you simply enter the amount of your HSA contributions for the year on the first page of your federal income tax return, and this amount is subtracted from your total income in the calculation of your adjusted gross income.

So, for example, if you contribute the full $3,100 to an HSA this year, you will enter this amount on line 25 of Form 1040. Along with other above-the-line deductions, it will then be subtracted from your total income (line 22) in the calculation of your adjusted gross income (line 37).

If you have a choice, it’s usually recommended that HSA contributions be made automatically via payroll deduction instead of by depositing a check into the account. Aside from the tax benefits and convenience, a payroll deduction also helps ensure that the contributions actually get made each month.

If you have to contribute manually, it’s easier to find an excuse not to deposit the check into your HSA – if you’re faced with an unexpected expense that month, for example, or if you simply decide to put the money toward something else.

For more information about HSAs, visit www.irs.gov, consult a tax advisor or contact us today.

How You Can Identify The Fraudulent Email?

• The fraudulent email has a subject line that reads:

eNFACT Case # (and a series of numbers are listed here).

• The body of the email reads:

To protect your account, we monitor your ATM and debit card transactions for potentially fraudulent activity which may include a sudden change in locale (such as when a US-issued card is used unexpectedly overseas), a sudden string of costly purchases or a pattern associated with new fraud trends. 

An eFACT Case was generated for the card holder below: Listed will be dates and dollar amounts of suspect transactions

The eNFACT Case is generated when a suspect transaction is detected.

If this transaction was not generated by you as the credit card holder please follow the steps as shown at: http://www.efactnotify.com/

Please be sure to complete the Case Resolution Notification (CRN) Form at (http://www.efactnotify.com/).

If you have any questions, or would like additional information pertaining to this eNFACT Case, please contact the card center at 800-262-2024. 

IMPORTANT: These emails are NOT being generated by the bank, Fiserv or the card servicing company.

What Should You Do If You Receive The Email?

If you receive such an email, do not click on any links and just delete the email.

If you have already received the email and followed any of the links or called the listed number and shared any sensitive information, please contact us immediately so that we may help you protect your accounts.

North Shore Bank is here to answer any questions you may have about this or any other suspicious emails you receive.   Visit the Security section of our website for more helpful tips.

It goes without saying that commercial lending has changed over the past two to three years. Regulation changes, loan losses, and mergers and acquisitions have altered the way banks underwrite all loans. Due to these changes, you may find yourself considering a change in your banking relationship as well.

I want to share an article by Janet Jones Kendall entitled “How to choose a commercial banker” that ran in the Business Journal with you. I found the characteristics to look for in a banker, including one who shows “professionalism, expertise, and service,” to be right on the mark. Today, there is very little difference in the products and services from one bank to another, so the difference maker is often the individual banker and the quality of service they provide.

Yes, service is a concept that gets tossed around all the time. But what does it really mean?  To me, service is being responsive to requests, returning phone calls and emails quickly, asking good questions, being proactive with ideas, and taking the time to understand the uniqueness of each business customer. Ultimately, you have to trust that your banker knows you, your business, and your needs, and is able to deliver solutions quickly.

The only thing I’d add to what Janet has offered is the importance of good communication between you and your banker. Your relationship with your banker should mean a free flow of information and ideas.

Open communication means sharing both good news and bad news early on and throughout your relationship. The more your banker knows about what’s going on, the more they will be able to help you.

Ultimately, the relationship between a company and its banker is a vital one as both rely on each other for success and growth. Please consider North Shore Bank as a partner who you can count on to work with you to grow your business.

Eight lucky contestants stuffed their pockets full of dollar bills. The money collected was matched by North Shore Bank and donated to the nonprofit organization that is committed to providing awareness and support for individuals with Autism Spectrum Disorder.

The Bank also donates $5 to the organization for every goal the Gamblers score at home this season. We are also pleased to have sponsored the “Caps for Cancer Toss”  this year where over 17,000 hats were collected and donated to Heavenly Hats, a non-profit group that donates headwear to cancer patients.