One of the basics of understanding finances is understanding how compound interest can work for you and against you.

Bank account takeover fraud is happening all over the country, and high-tech thieves are making their way to your bank account without having possession of your debit cards.

In hopes of addressing a financial literacy deficit by working directly with young adults, the Detroit Pistons have partnered with Zelle to offer educational resources to encourage smart and safe banking practices and investing.

The new office houses retail banking, commercial lending and asset based lending services acquired from Nicolet National Bank.

Ally Financial says it is ending overdraft fees entirely on all of its bank products becoming the first large U.S. bank to end overdraft fees across its entire business.

DETROIT – First Independence Bank, founded in May of 1970, is celebrating its 50th anniversary. And a lot of community activists, business leaders, got together and went through the process of getting a bank charter and formed First Independence Bank,” said Dimitrius Hutcherson, Executive Vice President, Chief Administrative Officer and Chief Technology Officer at First Independence Bank. “We initially were targeting and wanted to be here to service, African American, African Americans and African American home business owners, but the bank grew and evolved. We are a full service bank with products to serve all of the Metro Detroit community,” he added. They want to see our bank in the community, and they want to do business with us.

The advertiser paid a fee to promote this sponsored article and may have influenced or authored the content. The views expressed in this article are those of the advertiser and do not necessarily reflect those of this site or affiliated companies. This article is sponsored by MSU Federal Credit UnionHost Tati Amare spoke with Deidre Davis from Michigan State University Federal Credit Union (MSUFCU) about building your emergency funds. The account helps you grow your emergency fund faster by paying you the most on your initial contributions. To learn more about how MSU Federal Credit Union can help you save for a rainy day, visit their website msufcu.org.

DETROIT – The pandemic is an unfortunate reminder that having a financial security plan is a good idea. Also, one in four have a rainy day fund, however they do not have enough money to cover three months of living expenses. “This outbreak is making us realize how important it is to have financial security,” said Andrea Woroch, a money saving expert. She recommends taking money you might be saving right now on child care or gas and set it aside in savings if you can. Other job websites Woroch recommends are Remote.co for finding remote job listings, and VarsityTutors.com for online tutors!