This month’s Unbiased Banker focuses on budgeting points with a particular emphasis on the ICBA Nationwide Group Financial institution Service Awards. With that two-pronged focus, I can’t assist however take into account the connection between our position of service and the affect regulation can have on our very capability to serve.
Inherent to our enterprise mannequin is a ardour to help our communities, one that permits for flexibility to satisfy the person wants of our prospects. On the opposite finish of the spectrum, rigidity is intrinsic to regulation. That pressurized relationship continuously wants calibration to make sure that our prospects and communities stay the precedence, and regulators and legislators want to grasp that regulatory constraints usually restrict a neighborhood financial institution’s capability to help its prospects.
For instance, there’s lots being mentioned in regards to the overdraft guidelines, how they may get written and what impact they may have on the communities we help. Overdraft is a service we offer to our prospects—one that’s clearly disclosed and articulated—and our prospects select to derive worth from it. Overzealous regulation will restrict a product particularly designed to guard their pursuits.
Doing what’s proper for our prospects stays our chief precedence and our guideline, and there’s actually a lot we are able to do outdoors of our banking companies to make that occur.
Group banks stand out in at the moment’s monetary companies house as a result of our enterprise mannequin relies on an ecosystem the place the financial institution solely advantages when prospects do.
Simply take a look at this 12 months’s Nationwide Group Financial institution Service Award recipients. American Financial savings Financial institution in Honolulu runs the Kahiau Giving Marketing campaign to profit native nonprofits. First Group Financial institution of the Heartland in Clinton, Ky., began its Make a Distinction Program with the objective of supporting foster youngsters and has expanded it to not solely improve that imaginative and prescient but additionally to include an added neighborhood service focus every month.
The place I’ll be this month
I’ll be attending the Group Bankers of Georgia Annual Conference and persevering with to advocate for neighborhood banks right here in Washington, D.C.
These honorees exemplify the spirit of neighborhood banking, one which we stock with us in our on a regular basis actions on behalf of our communities.
Group banks stand out in at the moment’s monetary companies house as a result of our enterprise mannequin relies on an ecosystem the place the financial institution solely advantages when prospects do. That’s why ICBA focuses a lot of our work on telling these tales to legislators and regulators, ensuring they perceive how neighborhood banks present up for his or her communities. They should see that we care for these we serve.
That’s why I can say with confidence that irrespective of the regulatory pressures that come to bear, we’ll proceed to thrive. And since we lead with a spirit of service and a give attention to doing the suitable factor by our prospects, our communities will flourish as effectively.
Rebeca Romero Rainey
President and CEO, ICBA
Join with Rebeca @romerorainey