HFLA of Northeast Ohio的动态

Having heavily criticised the Big Four Australian Banks, time to praise a growing force in Australian Banking. Bendigo and Adelaide Bank. Starting small, they have grown to serve communities around Australia. Here is their Community Bank model, in their own words: “The Community Bank model For more than 20 years our Community Bank branches have continued to resonate with customers and their communities. They deliver so much more than just quality banking services: Jobs for local people; Investment opportunities for local shareholders; Profits for the community; and Funding and assistance for important community projects. Local branch, owned by locals, putting back into local projects. You can't beat that!” Absolutely correct - you can’t beat that! It was my ambition to bring this wonderful Community Bank model to the UK. It was my team that found Rochford for the so-called “cash access pilots”. The town should have had the first Australian-style Community Bank in the UK, but instead was given a pale imitation of a such a local enterprise, a “banking hub”. The suppression of genuine innovation in the UK, in favour of window-dressing, is an absolute disgrace. Where we are now is that Cash Access UK, who are responsible for the Rochford “banking hub”, are telling the British public there should be 200 open by the end of 2025. There are no forecasts beyond that number, despite the fact that when Cash Access UK was set-up, Chair Natalie Ceeney was publicly quoted as having the ambition of seeing “thousands” open. 200 “bank hubs” to replace thousands of closed Bank Branches? Ludicrous. The Payment Choice Alliance has made clear to all UK politicians that at least 1000 “bank hubs” are required. A full review must be completed before the end of 2024 of ALL communities with populations of 35,000 and under, to ensure they are ALL quickly provided with multiple local financial services touchpoints, including but not limited to “bank hubs”. The innovators are out there, ready with their GENUINE solutions to meet the wishes and needs of the British public - but their innovations continue to be suppressed. Those who seek to suppress are soon going to be blown away, by a strong wind of change. Payment Choice Alliance

??? Great perspectives on how broader access to #FasterPayments for #FinancialInclusion could reduce the fees paid by households living paycheck-to-paycheck Federal Reserve Bank of Boston Federal Reserve Bank of Kansas City Financial Health Network U.S. Faster Payments Council #FedNow #RTP #Payments #Financialinclusion

Special thanks to Brentwood Bank for their continued support of the chamber and for sponsoring this year's Community Outlook 2024! Nearly 100 years ago Brentwood Bank set up temporary locations to help mill workers in the South Hills of Pittsburgh set aside money for a better life. Then, as now, that wasn’t exactly a recipe for bankers to get rich. But that was never our mission. The way we see it, our goal is to enable the communities we serve to grow and flourish by working hard to unlock the unique – and often overlooked – opportunities within them. Frankly, Brentwood Bank does this by taking a genuine interest in each and every customer, whether it’s a person, business, not-for-profit organization or municipality. It’s not just good customer service – it’s good financial strategy for you and us. By earnestly understanding your needs, we’re able to think differently and create solutions customized to your unique situation. Plus, as a community bank, we have more latitude to make these solutions happen in the most successful and responsible way. (As you’ve probably guessed, we take responsibility very seriously here.) That’s why a lot of people consider us a trusted financial neighbor rather than a bank. And that’s just fine, because it’s how we see ourselves, too. Brentwood Bank: https://lnkd.in/eWynT3c

Special thanks to Brentwood Bank for their continued support of the chamber and for sponsoring this year's Community Outlook 2024! Nearly 100 years ago Brentwood Bank set up temporary locations to help mill workers in the South Hills of Pittsburgh set aside money for a better life. Then, as now, that wasn’t exactly a recipe for bankers to get rich. But that was never our mission. The way we see it, our goal is to enable the communities we serve to grow and flourish by working hard to unlock the unique – and often overlooked – opportunities within them. Frankly, Brentwood Bank does this by taking a genuine interest in each and every customer, whether it’s a person, business, not-for-profit organization or municipality. It’s not just good customer service – it’s good financial strategy for you and us. By earnestly understanding your needs, we’re able to think differently and create solutions customized to your unique situation. Plus, as a community bank, we have more latitude to make these solutions happen in the most successful and responsible way. (As you’ve probably guessed, we take responsibility very seriously here.) That’s why a lot of people consider us a trusted financial neighbor rather than a bank. And that’s just fine, because it’s how we see ourselves, too. Brentwood Bank: https://lnkd.in/ePqfZPgs

The recent reconciliation between KeyBank and the National Community Reinvestment Coalition - NCRC raises important questions about accountability and fair lending practices. Join the conversation as we delve into what this renewed partnership promises for Black borrowers and community development efforts. https://bit.ly/3yWwNQy #KeyBank #NCRC #CommunityDevelopment #FinancialInclusion #SocialJustice #FairLending

It's Community Banking Month! Here are just a few ways community banks differ from other financial institutions. Let us know in the comments what you appreciate most about your community bank (hopefully FSBT??). #fsbt #achievemoretogether #communitybankingmonth #banklocal

The continued unchecked growth of credit unions outside their core mission, particularly through acquisitions of tax-paying banks, is deeply concerning. This creates an uneven playing field, traditional banks struggle to compete against entities benefiting from tax advantages. They have been left unchecked on expanding into new markets and acquiring community banks across the country. Even more troubling is the lack of balanced regulatory oversight for credit unions, which could lead to significant risks. Without proper monitoring, we may see the first 'too big to fail' credit union, potentially requiring a taxpayer bailout within this decade. It’s time to demand fair regulation and oversight across the financial sector to ensure stability.

To say this is infuriating is an understatement. I drive by this bank every day. Credit Unions were initially formed to serve the unbanked and underserved, those with a common bond in a community, yet there are no requirements to prove they are indeed meeting these needs unlike banks who are subject to such rules as the Community Reinvestment Act. I do not believe for one minute this SC Credit Union truly wants to meet the needs of the underserved and underbanked in WV. They want to use their tax exempt nonprofit status to likely pay all cash (the details of the agreement I do not know) to buy a tax paying bank at likely a much higher than market price. This goes far beyond the initial mission of credit unions designed to serve people of modest means within a community. It’s time to stop these types of out of state acquisitions of community banks by tax exempt credit unions. With the relaxation and/or lack of membership requirements and expanded services these CUs offer it’s time to call the spade and eliminate the tax exempt status of these ever growing credit unions expanding well outside their traditional fields of membership.

Redefining Community Banking Banks are small businesses too, and when they lend money, they expect it to be paid back. But, this doesn’t mean they can’t also be genuine community investors. It's about balancing business with the dignity and worth of every person. Let’s create a future where banks and communities thrive together. Learn more in my latest blog:

FHLBanks made $6.7 billion this year, making it their most profitable year on record! But rather than devoting this money to affordable housing, they are paying most out as #dividends to their members. What are #FHLBanks and why aren’t they doing more to support #AffordableHousing? Watch our new video!