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Roselle Savings Bank Reminds Consumers: Be Vigilant When It Comes to Protecting Your Assets

ROSELLE, N.J. – APRIL 3, 2018 – Coming off the heels of National Consumer Protection Week, Roselle Savings Bank offers important tips and information from the FDIC to help their customers safeguard their possessions from high-tech thieves.

 Teaming up with the FDIC, here’s what consumers need to know:

  • Safe deposit boxes vs. home safe vs. bank deposit account. Bank safe deposit boxes are good choices to store originals of key documents, such as birth certificates and property deeds, but probably not the right choice if quick access is a must. Also, people are better off stashing their cash in a bank deposit account, like a savings account or certificate of deposit, than in a home safe or a safe deposit box where the money isn't protected by FDIC insurance.
  • Beware of criminals who place hidden recording devices at or near automated teller machines (ATMs) and retailer checkout registers. These devices can "skim" (steal) credit and debit card account numbers and personal identification numbers (PINs) to commit fraud or theft.

  • Know the new standards for credit reporting, which may help consumers improve credit scores and qualify for loans under more favorable terms. Did you know … unpaid medical debts will not appear as negative information on a consumer's credit report until those debts are at least 180 days past due?

    “Taking some simple steps to protect your data could save you both time and money,” said Roselle Savings Bank President and Chief Executive Officer, Detlef H. Felschow.

    Consumers can find additional advice and information by viewing the Winter 2018 FDIC Consumer News. A Spanish-language version will be available in the upcoming weeks.

    Roselle Savings Bank is an Equal Opportunity Lender and a member of the FDIC. For more information visit www.rosellesavings.com.


    Roselle Savings Bank originally opened its doors in May of 1889 as the Roselle Building and Loan Association, serving what is now the Borough of Roselle and the surrounding communities. The bank, which specializes in banking products and services for individuals and families, now serves residents in Union, Hunterdon, Somerset, Essex, Middlesex, Morris, and Warren counties. Branches are located in Roselle, Bernardsville, High Bridge, and Cranford. The bank is an Equal Opportunity Lender and a member of the FDIC. Call 908-245-1885 or visit www.rosellesavings.com for more information.

    ABOUT FDIC Consumer News

    To find current and past issues, visit https://www.fdic.gov/consumernews, or request paper copies by contacting the FDIC's Public Information Center in writing at 3501 North Fairfax Drive, Room E-1002, Arlington, VA 22226, by emailing publicinfo@fdic.gov, or toll-free at 1-877-275-3342. To receive an email about each new issue of the quarterly FDIC Consumer News with links to stories, go to www.fdic.gov/about/subscriptions/index.html.


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