A generation ago, bankers could count on young people –piggy banks in hand -- riding their parents’ coattails to the neighborhood branch. As the years passed a kid who opened a savings account at 10 opened a checking account or a student loan at the same bank before heading off to college at 18. In a few years, that meant a mortgage, a college fund for their children, or an … [Read more...]
Prevent bank branch closings with free WiFi?
In the most recent edition of the ABA Banking Journal, there is a sobering article about all of the bank branch closings over the last couple of years (Time to close under-performing branches). Over 2,300 offices have been closed to date and many more are in the process. Much of this is caused by in-branch transaction volumes dropping by 10% annually in many institutions. … [Read more...]
Community banks and credit unions look online for marketing help
As community banks and credit unions continue to weather the storm, marketing departments have had to make do with smaller budgets and fewer staff. Marketers of these financial institutions are charged with creatively generating revenue and exploring untapped markets for new customers – all with fewer resources. To make the most of their marketing dollars, many banks and … [Read more...]