Did You Know...?


Did You Know...
That Haddon Savings Bank never sells our mortgages?

Did You Know...
That college costs are growing faster than the cost of living?

Economy Review

  • ... The Dow Jones Industrial Average's highest closing record is 26,616.71 set on January 26, 2018. After hitting that peak, it immediately went into free fall. The index fell 4 percent by the end of the following week. It recovered briefly and then fell 1,032.89 points on February 8 to 23,860.46. The index had fallen 10.4 percent, putting it into a long-overdue market correction. Investors were wary of higher interest rates and afraid of inflation. The Dow then traded sideways until March 22, 2018. It dropped 724.42 points to 23,957.89.

    This is compared to, in March 2017, the Dow Jones Industrial Average closed above 21,000 for the first time ever! And it was one of the quickest runs to such a milestone. That rally matched the previous fastest-ever such move at 24 days, equaling the same span of trading sessions between 10,000 and 11,000 in May 1999. The blue-chip gauge closed above 20,000 just a few weeks prior in January 2017, which in itself was a relative quick record. Not to take anything away from the new record but, as the market rises, each 1,000-point advance becomes smaller on a percentage basis. The move from 20,000 to 21,000 marks a 5% rise, while the move from 19,000 to 20,000 was a 5.3% move. The move between 10,000 and 11,000 in 1999 marked a 10% rise

  • ...  The NASDAQ-100, which is frequently confused with the Nasdaq Composite Index includes the stock of every company that is listed on NASDAQ (more than 3,000 altogether) and is quoted more frequently than the NASDAQ-100 which is a stock market index made up of 107 equity securities issued by 100 of the largest non-financial companies listed on the NASDAQ. The NASDAQ-100 is a modified capitalization-weighted index. This particular methodology was created in 1998 in advance of the creation the NASDAQ-100 Index Trust, which holds portions of all NASDAQ-100 firms. The new methodology allowed NASDAQ to reduce the influence of the largest companies and to allow for more diversification.
  • ...HISTORY on Oil Prices in recent years has them in June 2018, at just over $70 a barrel as Saudi Arabia is planning to pump a record amount of crude in July, embarking on one of its biggest-ever export surges to cool down oil prices, according to people briefed on the country’s output policy. State oil company Saudi Aramco is aiming to boost production next month to about 10.8 million barrels a day.  That would surpass the previous high of 10.72 million barrels a day in November 2016.

  • Oil has fluctuated above $50 a barrel since the Organization of Petroleum Exporting Countries and other countries started trimming supply for six months back from Jan. 1, 2017 trying to reduce a global glut. But reports say U.S. shale output has rebounded with the $50 price. However it is noted that with present lower prices $49.28 a barrel on the New York Mercantile Exchange in early March 2017, and at the pumps, there has been signs of growing demand which may suggest the stockpiles will eventually decline. Where to next?

  • ...oil prices went as low $42.85 a barrel? The recent history shows: Oil recovering from a six-year low faltered in May as U.S. output remains at the highest level in more than three decades. OPEC’s refusal to cut production will continue to weigh on prices hovering in the $59 range. Oil had rallied to over $60 a barrel in the start of May. This was after, in New York, it slipped the beginning of April 0.2 percent to $47.54 a barrel and iron ore slumped below $50 a metric ton to a 10-year low. Brent crude, the benchmark contract for more than half of global oil, had dropped 0.5 percent to $54.86 a barrel in London. after some upticks which took it to $59.54 a barrel prior. Previously OIL Prices hit a SIX Year low Under $44 a barrel in January. From the mid-1980's to September 2003, the inflation adjusted price of a barrel of crude oil on NYMEX was generally under $25/barrel. During 2004, the price rose above $40, and then $50. A series of events led the price to exceed $60 by August 11, 2005, and then briefly exceed $75 in the middle of 2006. Prices then dropped back to $60/barrel by the early part of 2007 before rising steeply again to $92/barrel by October 2007, and $99.29/barrel for December futures in New York on November 21, 2007 reaching record high prices on June 27, 2008 which touched $141.71/barrel - they are now between $52 and $56 a barrel.


  • The S&P 500, one of the most commonly used benchmarks for the overall U.S. stock market, and actually consider by most people to now be a better representation of the US Market than the one time renowned Dow Jones Industrial Average (DJIA). The S & P is an index of 500 stocks chosen for market size, liquidity and industry grouping, among other factors. The S&P 500 is designed to be a leading indicator of U.S. equities and is meant to reflect the risk/return characteristics of the large cap universe. Companies included in the index are selected by the S&P Index Committee, a team of analysts and economists at Standard & Poor's. The S&P 500 is a market value weighted index - each stock's weight is proportionate to its market value.
  • The Dow Jones Industrial Average, often referred to as "the Dow," or the DJIA is one of the oldest, invented by Charles Dow in 1896, and single most watched index in the world, which is a price-weighted average of 30 significant stocks traded on the New York Stock Exchange and the Nasdaq returned to within 29 points of its high and is remaining in that area. The DJIA includes companies like General Electric, Disney, Exxon and Microsoft.
  • The Nasdaq first reached 7,600 on Monday, March 12, 2018 before falling back below it for the close. This was repeated the next trading day before another major pullback for the year. It took until Monday, June 4, 2018 (nearly three months) for the Nasdaq to finally close at another new all time high  7787.
  • The Nasdaq continued its climb back to its high of 5132.52 on March 10, 2000 reaching a new recent high in December of 4,177.73. Before the tech market collapsed. The Nasdaq’s highest was on March 10, 2000 at 5132.52.A global electronic marketplace for buying and selling securities, as well as the benchmark index for U.S. technology stocks. Nasdaq, a global electronic marketplace for buying and selling securities such as benchmark US technology stocks, was created by the National Association of Securities Dealers (NASD) to enable investors to trade securities on a computerized, speedy and transparent system, and commenced operations on February 8, 1971. The term “Nasdaq” is also used to refer to the Nasdaq Composite, an index of more than 3,000 stocks listed on the Nasdaq exchange that includes the world’s foremost technology and biotech giants such as Apple, Google, Microsoft, Oracle, Amazon, Intel and Amgen. Nasdaq officially separated from the NASD and began to operate as a national securities exchange in 2006. In 2007, it combined with the Scandinavian exchange group OMX to become the Nasdaq OMX group, which is the largest exchange company globally, powering 1 in 10 of the world’s securities transactions. Headquartered in New York, Nasdaq OMX operates 26 markets - primarily equities, and also including options, fixed income, derivatives and commodities - as well as three clearinghouses and five central securities depositories in the U.S. and Europe. Its cutting-edge trading technology is used by 70 exchanges in 50 countries. It is listed on the Nasdaq under the symbol NDAQ and has been part of the S&P 500 since 2008.

    The Nasdaq computerized trading system was initially devised as an alternative to the inefficient “specialist” system, which had been the prevalent model for almost a century. The rapid evolution of technology has made the Nasdaq’s electronic trading model the standard for markets worldwide.

    As a leader in trading technology from the outset, it was only fitting that the world’s technology giants chose to list on the Nasdaq in their early days. As the technology sector grew in prominence in the 1980s and 1990s, the Nasdaq became the most widely followed proxy for this sector. The technology and dot-com boom and bust of the late 1990s is exemplified by the rise and fall of the Nasdaq Composite during this period. The index crossed the 1,000 mark for the first time in July 1995, soared in the following years and peaked at over 4,500 in March 2000, before slumping almost 80% by October 2002 in the subsequent correction.

(follow our News and Information pages for individual reports and index details)

Small Business Info

National Veterans Small Business Week

SBA empowers veterans, active duty service members, Guard and Reserve members and military spouses through entrepreneurial training and education programs, business technical assistance, counseling, special access to capital programs and federal procurement  training and access to opportunities.

Join the conversation at #MyVetBizto share veteran stories, encourage community members to highlight local veteran-owned businesses in their community, and show gratitude and support to veterans and their families.

New Year, New Business?

Business Owner

Are you thinking about starting a business this year? It involves planning, making key financial decisions and completing a series of legal activities. The U.S. Small Business Administration has 10 steps that can help you plan, prepare and manage your business.



Your particular business or sales season may be quickly approaching, and the time is now to make sure you get the most of your marketing efforts to help secure sales success in the coming months. Here are a few budget-friendly ideas to help get you started. Additional Information, Programs and Small Business activities are under our Products and Servcies in SBA.

The Affordable Care Act does not require that businesses provide health insurance, but it offers tax credits for eligible small businesses that choose to provide insurance to their employees?

To qualify for a small business tax credit of up to 35% (up to 25% for non-profits), you must have:

  • Fewer than 25 full-time equivalent employees.
  • Pay average annual wages below $50,000.
  • Contribute 50% or more toward employee health insurance premiums.

See Information on this Course under our Products and Services / SBA Tabs

Credit and Savings Insights

5 Steps to a Successful Home Purchase

Housing and Pricies appear to be on the move, along with interest rates. This along with the combination of an improving economy and job market makes for interesting home purchase activities. Present inventory available  may make this homebuying season particularly challenging for the unprepared. Here are five steps future homebuyers can take to increase the chances of success this spring.

  1. Get pre-qualified for a mortgage. Homebuyers must be prepared to act quickly when they identify the home for them. There simply isn’t time in a market with so few homes available for sale to figure out after the fact whether or not a home is affordable, or if you will be able to qualify for the necessary financing. Meet with a mortgage professional before taking any other steps to focus your search and budget from the start.
  2. Do advance research. You can start online. There is a wealth of information available. However, it is still vitally important to do real, on-the-ground research to get a feel for neighborhoods including transportation and accessibility to schools, shopping and other amenities. Speed your search by only considering homes that “work” for your lifestyle.
  3. Choose your real estate professional carefully. Experience matters but recommendations matter more. The best real estate professionals act as your consultant providing wisdom on all aspects of the home buying process. The best sources for recommendations are recent homebuyers and mortgage professionals who work with the real estate professionals in the area on a daily basis.
  4. Make “must have” and “nice to have” lists. When choosing a home to live in for an extended period of time it is vital that it serves your needs and aspirations. With so many factors to weigh, it is a helpful strategy to develop an evaluation method that will streamline the process. If you can avoid spending time on any homes that are missing a “must have” characteristic, you can spend the extra time needed to consider the multitude of “nice to have” features that can truly differentiate the best choice from the rest.
  5. Think long term. Remember your home choice may impact you and your family for a very long time. Consider how its location, school district, future area development, cost, size, configuration, structure and lawn maintenance requirements and your needs will change over time.

This could be one ofthe best times to buy a home, but supply may leave unprepared shoppers frustrated. If you are in the home market this year, follow the guidelines above to ensure a much more enjoyable and successful process.

Call us or have anyone you know who is in need of a preapproval or personal consultation. For your convenience forms are also on our website!

Your credit affects (positive or negative) your ability to:

  • Get a loan or credit card and at a better rate.

  • Be approved for an apartment in addition to better home loan.

  • Get insurance and at a better rate.

  • Get a job offer...?

Make an Informed Mortgage Decision

The mortgage industry is filled with a multitude of providers all competing for your business-banks, credit unions, community banks, mortgage bankers and brokers. How can consumers evaluate mortgage loan offers to make sure they are making the best decision? Here are some recommendations to help ensure that the largest purchase you will make and the largest debt you will incur is as positive as it can be.


$357 more funds available. Purchasing power. It is an economic theory and or a technique used to determine the relative value of currencies, estimating the amount of adjustment needed on the exchange rates, used in comparisons for pricing level increases and decreases against price index such as CPI or for inflation. In investment terms, it is the dollar amount of credit available to a customer to buy additional securities against the existing marginable securities in the brokerage account. It is defined as the amount of goods or services that can be purchased with a unit of currency.