Well fargo certificate of deposit

In the competitive environment of the 21st Century, knowledge has never been more important. Fortunately, information is more readily available today than at any other time in history. Just as the printing press made an information explosion possible centuries ago, the Internet is taking information sharing to exponentially greater levels. Information that used to be very difficult and expensive to obtain is now readily available for free over the Internet. While statistics about growing household Internet use are frequently cited in newspapers, the real story is Internet use in the office. Internet connections in office settings are generally faster and better than they are in home settings where dial-up service is still the norm. Almost any desk job imaginable can be made easier and more efficient with Internet access, even after figuring in the inevitable personal Internet use that will creep into most employees' behavior.

With so much information available, one of the greatest services North

*Western Financial Review can offer is relevant synthesis of information. The magazine's challenge is to survey the landscape of information, make intelligent decisions about what is important to community bankers in the heartland of the United States, and present it in a format that offers context and perspective. We place a premium on brevity and succinctness.

Another way North

*Western Financial Review magazine can serve its readership is to offer guidance about the use of other information sources, such as the Internet. With this issue, we begin a regular feature that will offer information about some of the most useful Internet sites on the World Wide Web. Here we present the "editor's choice" for web sites that every community banker should know about. Future issues will present short lists of Web sites used frequently by bankers and others close to the industry. Clearly, knowledge is power and the Internet is one of your greatest sources of knowledge.

Of course, knowledge will only get you so far. The trick to success is converting that knowledge to wisdom. But that part you'll have to do on your own.

Following are 10 web sites you should know about:

Federal reserve.gov/tcb/

Every bank that has a Web site should know about this site, which is presented by the Federal Reserve Board. It provides information that will help your bank operate a web site that complies with federal regulations. The site allows users to click through a fictional Web site for a bank called The Checkers Bank. As you look at each page, you can test your compliance knowledge by trying to guess "what's wrong with this page?" Click on the Federal Reserve logo at the bottom of every page and a dialog box pops up which explains problems with the page. For example, if you click on the logo at the bottom of The Checkers Bank home page, you are informed that the page lacks a "member FDIC" designation. It also informs you that the page contains a couple of Reg Z violations and a violation of Reg B. This is the same kind of tool that examiners use when they look at your Web site as part of a bank examination.

Bankrate.com

This is a site aimed at consumers, and as you read through it, you will detect an antibanker edge. Nonetheless, bankers can learn a lot from this site. First, bankers can keep abreast of the latest ways in which consumer advocates are stirring unrest among bank customers. Second, bankers can pick up useful competitive information about who's paying what for deposits, and who's charging what for loans. No bank will want to find itself on the site's "20 worst deals list." The list ranks banks on a typical checking account assuming a $1,500 balance, 12 transactions and one bounced check. There is also a "20 best deals" list, and not surprisingly, most of the top checking accounts are offered by Internet banks. Third, the site offers a very interesting collection of calculators. They are presented in a variety of categories, including mortgages, autos, savings, and small business. Figure out anything from a small business's current ratio, to the buying power difference between salaries offered in various cities across the United States.

Etrade.com

This site gives a banker a pretty good idea of the extent of his competition. Etrade Bank offers some of the best rates in the business. As this issue goes to press, it was offering a money market plus checking account that pays 6.25 percent, compared to a national average of 2.10 percent. Customers can buy a one-year certificate of deposit from Etrade Bank that pays 6.60 percent. But this site's securities information is also very useful. Even if you never open an account with Etrade, you can take advantage of the site's extensive research capabilities. If your bank is located in a market where you compete with a publicly traded bank, you can keep tabs on the competition quite easily. If you go to the site's "quotes and research" section you get access to all publicly available information about any bank traded on a stock exchange. The site presents press releases issued by the bank, and other articles written about the bank. Also of interest is the site's "insiders" section which will tell you who inside the bank is buying or selling shares.

PrivacyHeadquarters.com This site is the definitive source

for information about the privacy issue and its impact on the banking industry. Every compliance officer should be using this site. Run by St. Cloud, Minn.-based Bankers Systems, Inc., the site contains a plethora of information about privacy, including the privacy provisions included in the Gramm-Leach-Bliley Act. There's an "update" section that gives surfers the latest developments on the privacy issue, and there's a report of pending privacy legislation in the state legislatures. Test your knowledge of privacy regulations by taking the privacy quiz in the site's "tools and checklists" section. The site's "research center" is an awesome collection of links that will keep you on top of one of the hottest issues in banking.

FDIC.gov

This Web site presents call report information for every bank in the country. If you have a prospect who wants to know more about your bank before opening a big account with you, refer them to this site where they can learn a lot about your bank from a neutral third party. The site is also extremely useful for bankers looking for peer group comparison data. For example, performance ratios for banks with fewer than $100 million in assets in a specific state can be obtained. Also, comparisons between two banks can be set up. This could be very useful if a bank owner is considering an acquisition. Bankers might also appreciate the opportunity to refer existing customers to the site if the customer has a question about deposit insurance coverage. EDIE, the site's electronic deposit insurance estimator, is at the public's disposal.

ACORN.org

Bankers serving urban areas will want to stay abreast of developments among community groups that target the banking industry. Even bankers who exclusively serve rural areas will benefit by monitoring the activities of community groups, such as the Association of Community Organizations for Reform Now. The organization's Web site contains a description of its latest concerns and its plans for seeking change. Currently, ACORN is focusing its attention on predatory lenders, and lenders who sell single-premium credit insurance. The site also contains a useful list of local ACORN offices, with locations and e-mail addresses. ACORN has conducted a number of predatory lending studies and bankers can get a look at this work by visiting the Web site. Studies for 34 distinct metropolitan areas are listed, including Chicago, Dallas, Denver, Detroit, Ft. Worth, Houston, Kansas City and Milwaukee. Rtd.com/~markh/