Inherent to our merchantry model is a passion to support our communities, one that allows for flexibility to meet the individual needs of our customers. On the other end of the spectrum, rigidity is intrinsic to regulation. That pressurized relationship constantly needs scale to ensure that our customers and communities remain the priority, and regulators and legislators need to understand that regulatory constraints often limit a polity bank’s worthiness to support its customers.
For example, there’s a lot stuff discussed well-nigh the overdraft rules, how they will get written and what effect they will have on the communities we support. Overdraft is a service we provide to our customers—one that is unmistakably disclosed and articulated—and our customers segregate to derive value from it. Overzealous regulation will limit a product specifically designed to protect their interests.
Doing what’s right for our customers remains our senior priority and our guiding principle, and there’s certainly much we can do outside of our financial services to make that happen.
Community banks stand out in today’s financial services space considering our merchantry model depends on an ecosystem where the wall only benefits when customers do.
Just squint at this year’s National Polity Wall Service Award recipients. American Savings Wall in Honolulu runs the Kahiau Giving Campaign to goody local nonprofits. First Polity Wall of the Heartland in Clinton, Ky., started its Make a Difference Program with the goal of supporting foster children and has expanded it to not only enhance that vision but moreover to incorporate an widow polity service focus each month.
Where I’ll be this month
I’ll be peekaboo the Polity Bankers of Georgia Annual Convention and standing to well-wisher for polity banks here in Washington, D.C.
These honorees exemplify the spirit of polity banking, one that we siphon with us in our everyday deportment on behalf of our communities.
Community banks stand out in today’s financial services space considering our merchantry model depends on an ecosystem where the wall only benefits when customers do. That’s why ICBA focuses much of our work on telling those stories to legislators and regulators, making sure they understand how polity banks show up for their communities. They need to see that we take superintendency of those we serve.
That’s why I can say with conviction that no matter the regulatory pressures that come to bear, we will protract to thrive. And considering we lead with a spirit of service and a focus on doing the right thing by our customers, our communities will flourish as well.
Rebeca Romero Rainey
President and CEO, ICBA
Connect with Rebeca @romerorainey
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