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10

Do You Know Where Your Bank is Headquartered?

April 10, 2010

 

Most of you who know me…know I have a passion for community banking. It’s my livelihood…I live and breathe it…I believe in it.
 
We have all heard the stories of how community banks have built our communities…our community banks are the “gems” in our communities that have given us the opportunities to buy our homes, build our businesses and save for our kids’ educations.
 
Equally as important…the money that we deposit and save in our community banks stays in our communities. It’s as simple as we put money into our community bank. Our community bank puts money into our community.
 
When we deposit and save our money in a bank that is headquartered outside of Michigan, most of that money leaves Michigan to support that bank’s state.
 
Many of us are seeing the ad campaign that Comerica Bank has in all the Michigan newspapers and trade journals across the state. The ad says that Comerica has been here in our state since 1849. But, the ad doesn’t say that they left Detroit in 2007 moving their headquarters to Dallas. I appreciate that they are supplying jobs in Michigan. We need those jobs. But, they are not keeping their insured deposits in Michigan any longer.
 
In fact, Michigan has over $163 billion in insured deposits. Yet, over $110 billion of those deposits, (nearly two-thirds!) leave Michigan every night to support Texas, Ohio, Pennsylvania, New York and North Carolina.
 
At a time when we are concerned with the financial stability of our state…it is time to truly consider where our banks are headquartered so we can keep our money in our Michigan communities.
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Rhonda Curtis, Office Manager, BSA Officer, Summit Community Bank
Sally has the talent to think strategically about everything from fine detail to global vision. Her depth in the world of finance and banking is a rare find that resonates from years of experience. I would highly recommend Sally in any leadership team or position as well as a consultant.

 

Lisa Smith , Former General Sales Manager, Liggett Broadcasting
Over the years I have had the pleasure of working with Sally. I have noticed she has a special ability to change negative attitudes of the some of the people she works with into more positive ones (baby steps!). I feel this comes from her confident positive attitude, and is one her greatest assets.
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I wanted to let you know that I think we are starting to finally see some results from being more intentional about prospecting and calling on customers. We have been spending more time at our loan meetings talking about what is in the pipeline and I think this action alone causes some peer pressure to perform! Thanks for your help!
Michelle Hill, Senior Vice President & Chief Lending Officer, Thumb National Bank
We have worked with Sally for several years to help facilitate our sales meetings and as our marketing consultant. She has been a tremendous asset in both regards. She has worked well with our employees and has shown great creativity and came up with new ideas which has led to excellent results for our bank.
Christopher G. Nugent, Senior Vice President, Chief Lending Officer, Summit Community Bank

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