Treasuries moved very little last week, trading within a tight range and finishing the week on the lower end of that range. The small inflation number pushed yields lower, mostly on the longer end of the curve. The yield on the 10-year Treasury ended last week at 2.81 percent but bounced back on Tuesday to as high as 2.86 percent before settling at 2.83 percent later in the morning.
WeeklyMarketSummary_21Jan14
Supporting Waldo CAP’s Heroes 4 Hunger
Waldo Community Action Partners recently received a donation from Allen Insurance and Financial, with the funds going to toward WCAP’s Heroes 4 Hunger program, a program rooted in WCAP’s Thanksgiving and Christmas holiday food box projects.
Those holiday projects are still held annually, with Heroes 4 Hunger expanding the agency’s reach to address food insecurity and obesity in Waldo County year-round using various avenues for opportunity, such as community education and advocacy.
The Heroes 4 Hunger program is an excellent fit with Allen Insurance and Financial’s emphasis on employee wellness and wellness programs for the agency’s health insurance clients.
A multi-service agency serving Waldo County since 1965, WCAP is the largest provider of low-cost and free transportation and early childhood education in Waldo County.
Pictured here are, from left, Keith Small, WCAP executive director and Richard Crossman of Allen Insurance and Financial.
FDIC FInancial Checklist for Consumers
Any time of year, but particularly the start of a new year, is a good time for consumers to reflect on how they are managing their finances and consider some changes. The latest FDIC Consumer News features a checklist of questions and suggestions that can help individuals better meet their goals.
Is it time for your financial checkup? The FDIC newsletter helps consumers get started on a self-examination of their money-management strategies for saving, spending and borrowing, and taking precautions in areas such as avoiding fraud, managing financial records and being properly insured. The first question on the list asks consumers about their short-term and long-term financial goals, which could include, for example, paying off the balance on a credit card, buying a home or financing a child’s college education. With financial goals in mind, people may be more motivated to save for and achieve their objectives.
Taking your money on a trip: Suggestions cover topics such as alternatives to carrying cash (which, if lost or stolen, can’t be replaced), deciding on which credit cards to take, and tips for hiding credit cards and other valuables from thieves who may target travelers.
Five common misconceptions about FDIC insurance … and what the real facts are: For example, some people mistakenly believe that FDIC insurance coverage is based on the type of deposit — for example, that a checking account is insured separately from a certificate of deposit (CD). The truth is that FDIC insurance coverage is based on how much money each depositor has in one of several “ownership categories” at each bank — single accounts, joint accounts, revocable trusts and so on — not on the deposit product itself. Knowing the facts will help consumers make sure all of their deposits are protected.
A bank by any other name may still be insured: Suppose you get an attractive offer of a deposit from an unfamiliar bank but it’s not listed on the FDIC’s database of insured institutions. Does that mean it could be an uninsured bank, or worse, fraudulent? The answer is … maybe or maybe not. One reason is that insured branches and Internet sites can do business using names that don’t match the bank’s official name.
For information on a financial checklist and more, click over to the FDIC newsletter.
Continuing Education Program Benefits Our Employees and Their Customers
Four members of the personal insurance team at Allen Insurance and Financial recently achieved the designation of Accredited Customer Service Representative from the Independent Insurance Agents & Brokers of America.
They are (clockwise, from top left): Chris Wilson, Meesha Luce, Leann McKusic and Holly Hill-Coombs. All are based in the company’s Rockland office.
“The ACSR designation shows our people are well-educated members of the insurance industry,” said Scott Carlson, personal insurance team manager. “Holly, Meesha, Leann and Chris are dedicated to improving their technical knowledge and enhancing their professionalism.”
The ACSR designation program was developed to recognize the contribution made to each customer by the service they are provided through independent insurance agencies such as Allen Insurance and Financial.
Independent Insurance Agents & Brokers of America is the nation’s oldest and largest national association of independent insurance agents & brokers with more than 300,000 members. Find them online at independentagent.com.
Founded in 1866, Allen Insurance and Financial is an employee-owned insurance and financial planning services company with offices in Rockland, Camden, Belfast and Southwest Harbor, Maine. In 2014, the company will be celebrating the 25th anniversary of its employee stock ownership plan.
Holiday Hours: Christmas 2014
Our offices will be closed for Christmas both Tuesday, Dec. 24 and Wednesday, Dec. 25. Our offices will reopen Thursday, Dec. 26 at 8 a.m.
On New Year’s Eve, Dec. 31, our offices are closing at 1 p.m. and will reopen Thursday, Jan. 2, at 8 a.m.
Best wishes for a Merry Christmas and a Happy New Year!
Bookham Named Director of Business Development
Dan Bookham
Allen Insurance and Financial is pleased to announce the appointment of Dan Bookham, a business insurance specialist, as the company’s director of business development, a new position.
Bookham joined the company in September 2012 after four years as executive director of the Penobscot Bay Regional Chamber of Commerce.
Other administrative changes effective Jan. 1, 2014 at Allen Insurance and Financial:
- The appointment of Jean Dutch as the company’s Chief Operations Officer. She has also been named a vice president of the corporation. Dutch, of Belfast. She has been with the company since 1995.
- The appointment of Gene McKeever, a business and marine insurance specialist, as a vice president of the corporation. McKeever has been with Allen Insurance and Financial since March 1992.
- The retirement of Steve Crane and Peter Van Alstine from the company’s board of directors. Crane, a former company president, retired from that position in November 2007. Van Alstine, a long-time financial advisor with the company, is retiring at the end of 2013.
The company’s board of directors approved these changes at their annual meeting earlier this month.
Founded in 1866, Allen Insurance and Financial is an employee-owned insurance and financial planning services company with offices in Rockland, Camden, Belfast and Southwest Harbor, Maine. In 2014, the company will be celebrating the 25th anniversary of its employee stock ownership.
Weekly Market Update 12/16/2013
Equity markets slid lower last week, and the S&P 500 posted its first weekly loss since early October. Losses for most major domestic large-cap indices were grouped tightly in the 1.50 percent–1.60 percent range. Unlike in previous periods, there was no late-week rally to offset the declines that took place earlier in the week. Read more now in our Weekly Market Update.
Weekly Market Summary – 12/9/2013
Equity markets were largely unchanged last week, with the S&P 500 posting a nominal gain of 0.01 percent and the Nasdaq faring slightly better, up 0.08 percent. International indices, as well as the small-cap Russell 2000, were notably weak.
Contrary to appearances, equities were quite volatile last week. A 1.10-percent gain for the S&P 500 on Friday—thanks to
better-than-expected economic news—wiped out losses that had built up earlier in the week. Read more now in our Weekly Market Summary.
Weekly Market Summary – 12/2/13
Equity markets showed some modest upside in a very quiet week of trading. The S&P 500 gained 0.10 percent to eke out another all-time closing high for the week. Read more now in our Weekly Market Summary.
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