Banks are going through a trainload of change right now. The biggest fallout from the banking crisis is, of course, more regulation for all financial institutions. At the marketing level, new, stiffer ad disclosure requirements, opt-in overdraft rules, and many more changes are keeping us up at night just to keep up with it all.
The question is: Is your bank looking to you for help, for answers, for ideas? Have you studied the impact of these new regulations on your bank's bottom line? Have you looked for strategies that will help your bank close the gap on income in 2010-2011?
Many banks are projecting that NSF fee income will be down; I have seen projections anywhere from 25% to 60% from last year. For many community banks, this represents a significant source of fee income and impact to the bottom line. What is that number for your bank? Have you chatted with your CFO about it? Have you built in strategies in your marketing plan to replace lost fees or other revenue? Or are you waiting for senior management to tell you what to do?
The answer to that question determines how you will be percieved as a leader at your bank.... or not. Leaders step up, inquire, research, discuss, and then offer insights, strategies, and plans to help close the gaps. Followers wait to be told what to do next.
If you are looking to have more influence with the leaders at your bank, become a part of the team and a part of the solution to today's issues. It will pay off for you many times in the days to come.
If you are looking for assistance in creating your White Knight plan, we are always ready to help.
Are you stepping up?
Have a great weekend and stay warm.
Sharon
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