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Personal Savings Accounts
Compare the benefits of Old National Bank savings accounts to find the right option. Convenient savings, money markets, IRAs, and CD accounts are available.
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3 Things Most People Get Wrong About Social Security COLAs
If you're on Social Security, you probably have at least a basic idea of what cost-of-living adjustments (COLAs) do. They're designed to give your
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Five Ways to Stop Identity Theft Before It Happens
By Kevin Novak, Chief Information Security Officer at Old National Bank Identity theft is one of the fastest-growing crimes in the U.S., affecting
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The Most Important Part of Workforce Planning Is Skills Intelligence
It impacts all talent decisions, yet most organizations leave skills-based workforce planning on the back burner. An organization's workforce plan is
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10 pandemic-related challenges likely to plague employers for foreseeable future
While employees and employers alike have been eager (for months now) to get back to work as it used to be, the reality is that the workplace has changed — and possibly for the long term. Speculation abounds that this "new normal" will persist until there is a widely available and effective vaccine. This leaves employer
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Financial Education Courses
Old National provides financial education workshops for employers, non-profits, schools and more. Online and free in-person options available.
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John V. Moran
John V. Moran is the Chief Financial Officer at Old National.
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Why is LIBOR being discontinued?
LIBOR was introduced in the 1980’s as a benchmark interest rate that was intended to reflect banks’ average cost of short-term, wholesale unsecured borrowing. Over time, and particularly during the financial crisis that began in 2007, banks became less and less reliant on inter-bank lending. As a result, the number and dollar volume of transactions from which LIBOR was derived declined dramatically. To make up for this shortfall, LIBOR panel banks resorted to using “expert judgment” when submitting various rates used in calculating LIBOR. This left it susceptible to manipulation and fraud.
In 2017, the UK Financial Conduct Authority (FCA), the regulator for LIBOR, announced that after December 31, 2021, the panel banks would no longer be required to submit settings for LIBOR. (This has since been revised to June 30, 2023, for most LIBOR tenors.) This announcement effectively started the countdown to the end of LIBOR.
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Am I eligible for an SBA loan?
SBA lenders and SBA loan programs have different eligibility requirements. However, there are some basic requirements:
- Location: Your business must be physically located and operate in the U.S.
- Business type: Your business must be for-profit and in an eligible industry.
- Investment: You, as the business owner, must have invested time or money into the business.
- Size: Only small businesses qualify. The definition of a "small business" is based on number of employees or average annual receipts. Size standards information can be found on the sba.gov website.
- Loan application history: You must not be able to get more traditional financing at favorable terms.
You should also be able to demonstrate your ability to repay the loan and have a sound business purpose and plan.
To learn more about SBA loans at Old National, please visit our SBA Loans website page.
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I’m unsure about using Zelle® to pay someone I don’t know. What should I do?
If you don't know the person, or aren't sure you will get what you paid for (for example, items bought from an online bidding or sales site), you should not use Zelle® for these types of transactions.
These transactions are potentially high risk (just like sending cash to a person you don't know is high risk). Neither Old National nor Zelle® offers a protection program for any authorized payments made with Zelle® — for example, if you do not receive the item you paid for or the item is not as described or as you expected.
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Growing traffic through social media marketing for small business owners
How social media can be an effective tool for small businesses If you are a small business owner, you always look for new ways to attract more business. One of the most effective and proven ways to grow your customer base and your reach is through social media. It provides ways to engage with existing customers an