In the News
BANK OF COMMERCE JOINS ‘SAFE BANKING FOR SENIORS’ CAMPAIGN
New education initiative to combat $2.9 billion in annual senior fraud
Rawlins– Bank of Commerce has joined the national effort to protect seniors from becoming victims of fraud and financial abuse through Safe Banking for Seniors social media campaign and in-person workshops at Senior Center’s in Rawlins and across Carbon County. Bank of Commerce encourages both seniors and their financial caregivers attend these information sessions to learn about identifying and avoiding scams, choosing a responsible caregiver, preventing identity theft, and choosing a responsible financial caregiver. Watch for more information on upcoming sessions.
Each year older customers lose approximately $2.9 billion to fraud, but it is suspected that number is drastically underestimated because only 1 in 44 seniors report financial abuse. Safe Banking for Seniors is a new financial education program established by American Bankers Association Foundation to help combat this growing problem.
“Scammers are always developing new ways to rip people off, and sadly, they often targeting our seniors for numerous reasons,” said Copper France, President & CEO. “The Safe Banking for Seniors presentations and information sharing will provide older customers and their financial caregivers with the knowledge they need to proactively protect themselves and their loved ones from these crimes.”
Bank of Commerce also offers the following tips for seniors and their financial caregivers:
- Know the warning signs of scams. Scammers are always thinking of new ways to steal from seniors, but knowing the warning signs of scams will help stop fraud in its tracks. Paying fees or taxes for sweepstakes or lottery “winnings”, acting immediately on an offer or insisting on secrecy are characteristics of some types of fraud. When in doubt, talk to a trusted advisor, family member or friend.
- Protect your financial identity. Some scammers are more interested in stealing financial identities to open new credit cards or loans in seniors’ names. Shred receipts, bank statements and unused credit card offers before throwing them away. Never give personal information, including Social Security Number, account number or other financial information to anyone over the phone unless you initiated the call and the other party is trusted.
- Choose a responsible financial caregiver. Sadly, family members and friends can also take advantage of seniors and leave them in financial ruin. Plan ahead for the day that you may not be able to manage finances on your own.
- Talk to your banker about options to ease financial caregiving responsibilities. Banks offer a wide range of services to help seniors and financial caregivers manage finances in accordance with seniors’ needs and desires.
- For more consumer tips, see the Consumer Resources section at www.aba.com/seniors.
June 7, 2022
Installation of "Cowboy Tough"
FOR IMMEDIATE RELEASE
March, 20, 2022
Bank of Commerce and ICBA Celebrate America’s Ag Community
National Agriculture Week is March 20-26
Rawlins, Wyoming, March 20, 2022 - In recognition of National Ag Day, Bank of Commerce and the Independent Community Bankers of America (ICBA) are celebrating the contributions of America’s local farmers, ranchers, and agricultural enterprises.
Community banks provide 80% of all financing to and are often the catalysts for new and expanded business opportunities within their communities. In fact, community banks provide roughly $130 billion in agriculture loans.
National Ag Day was founded nearly 50 years ago to recognize the contributions of farmers in providing Americans with healthy, affordable, and abundant food options. ICBA offers the following facts about the agriculture industry:
- The typical American farmer produces enough food and fiber to feed 166 people, producing jobs and investment throughout the economy.
- Americans spend less than 10 percent of their disposable income on food, allowing consumers financial freedom to purchase other goods.
- Farming and related industries employ 21.6 million people, making up 11 percent of total U.S. employment.
About Bank of Commerce
Agricultural financing is one of the strengths of Bank of Commerce. Our loan staff works hard to understand your operation in an effort to help you succeed. We appreciate the importance of agriculture in our community and enjoy helping local producers. See our experienced loan officers for operating loans, equipment loans, livestock purchases, and improvement loans. We recognize the essential role of agriculture, which is central to our country's health and prosperity and we do all we can to support these stewards of the land and their work to preserve our nation's natural resources - today, tomorrow and for the future - for the benefit of all.
The Independent Community Bankers of America® creates and promotes an environment where community banks flourish. ICBA is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education, and high-quality products and services.
With nearly 50,000 locations nationwide, community banks constitute roughly 99 percent of all banks, employ nearly 700,000 Americans and are the only physical banking presence in one in three U.S. counties. Holding nearly $5.9 trillion in assets, over $4.9 trillion in deposits, and more than $3.5 trillion in loans to consumers, small businesses and the agricultural community, community banks channel local deposits into the Main Streets and neighborhoods they serve, spurring job creation, fostering innovation and fueling their customers’ dreams in communities throughout America. For more information, visit ICBA’s website at www.icba.org.
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Previously Bank of Commerce had a post encouraging everyone to reach out to our congressional delegation to support keeping your financial information private and to stop the proposal to require banks and credit unions to report account activity on your accounts to the Internal Revenue Service (IRS). We would like to thank all of you that did reach out. You made a difference, and the controversial proposal was not included in the budget framework as originally outlined by Congress. Even though this has been dropped from the House bill, there is still a possibility it could be added back at a later point. Banks like ours will continue to advocate against this proposal and invasion of your privacy, but we still need your help. We encourage you to continue to voice your concerns and help us stop this disturbing effort. Contact your congressional delegation by phone (the better method), e-mail, or regular mail. Please share your opinions with your Senators and House Member. You can find their contact information here.
Time is running out to let Congress know bankers and consumers alike oppose the idea. Contact your lawmakers now, before it's too late. Visit this website to electronically sign and submit letters to your representatives to have your voice heard on this privacy issue.
So how does that effect you? If passed, the proposal would require financial institutions like ours to report the inflows and outflows on personal and business accounts to the IRS regardless of customers' consent. This is an unprecedented invasion of privacy and we need your help to get it stopped.
We work for our customers and our community, not the IRS. Join us in telling Congress that proposed IRS bank account profiling is intrusive and indiscriminate for our customers. TAKE ACTION NOW by visiting the ICBA here
February 16, 2021
Bank of Commerce
Rawlins, WY - Bank of Commerce, Carbon County's only locally owned bank, announced today a rebrand of its visual identity. It has been nearly 30 years since Bank of Commerce has updated the brand. The time is right to refresh the look as a total package. The team has been working on this project for quite some time and a lot of thought and consideration went into adopting the brand package. “We went into this project with an idea of what we wanted and worked out every last detail to make sure it perfectly represented our vision,” said Nicole Henley, Marketing Administrator who led the branding evolution. “The rebrand is not just cosmetic – it has given us the opportunity to reflect on our values and put our mission to work.”
The new brand identity is current and modern but also a timeless reflection of the organization and the strong role BOC plays in the community. It is a fresh look for Bank of Commerce but one thing remains the same, the promise of excellence. Copper France, President & CEO noted, “This logo represents the strength and determination of our Board of Directors, officers and staff to provide convenient and quality banking products and services to our customers without sacrificing the high quality customer service they have come to expect when they bank with us.” BOC Board Member Mary Penland adds, “The rebrand has been a long time coming, but we, as a board, hope to show that Bank of Commerce is rock solidly here for our current and future customers in Carbon County.”
The Bank of Commerce logo has a vibrant color palette and new typeface with the tagline ”Your Home-Owned Bank”. “The buffalo coin icon with mountains in its back is a reflection of the banking industry and represents our surroundings right here in Carbon County, Wyoming. It is also a symbol of the strength in our communities,” describes Henley. But there is more to it than meets the eye. France says, “The goal was to offer a taste of history and a strong vision of growth and prosperity for the people of Carbon County.” As industry leaders, Bank of Commerce is committed to our customers. “When people in Carbon County need banking services, we want to be the first institution they think of. We also want to be known as someone who is involved in and gives back to the communities we serve,” states France. It won’t take long for Carbon County to recognize the new Bank of Commerce logo and all it stands for.