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The Three Pillars of Success for Community Banks

On Sept. 17, Haberfeld CEO David Furnace sat down with Lou Carlozo, editor-in-chief at BAI Banking Strategies, to discuss planning, marketing and talent management – or, The Three Pillars of Success for Community Banks. This interview was printed as a Q&A. For this summary we’ve paraphrased Mr. Furnace’s responses. You can find the full transcript below, and the full podcast … Read More

Staying Ahead of the Curve in a Rising Rate Environment

Today’s rising interest-rate environment is a popular topic of conversation at corporate conference tables — as well as family kitchen tables – across America. Investors, financial advisors, stock brokers, securities traders, bond portfolio managers, and consumers alike have a stake in understanding the implications of the higher interest rates we’ve seen in the last three years—and in anticipating future rate … Read More

A Proven Deposit Growth Strategy for Your Community Financial Institution

By Grant Ossenkop, Vice President Does your financial institution have a viable deposit growth strategy? Why You Need a Deposit Growth Strategy  During the financial crisis, when institutional survival was top of mind at banks and credit unions throughout the nation, this question received far less attention.  Interest rates hovered at historic lows, core deposits were dormant and the lending … Read More

“Growing Fee Income Without Raising Fees” – ABA Annual Convention Podcast Interview with David Furnace (Transcript)

Haberfeld CEO, David Furnace, was interviewed for a Featured Podcast by the Editor-in-Chief of the ABA Banking Journal, Evan Sparks, at the ABA Annual Convention in October 2018. The original recording can be found on the ABA’s website here.    Evan Sparks:                       Well, we are here in the ABA Annual Convention Expo Hall. My name’s Evan sparks. I’m editor in … Read More

Thoughts on “10 Ways to Make CDs Cool Again” from Haberfeld President

A follow-up to our last blog “10 Ways to Make CDs Cool Again” By Achim Griesel When is the last time you saw Chase, Wells Fargo or Bank of America compete for time deposits? The answer to this question used to be NEVER – but not anymore. Browsing through their public website, it seems that the competition is heating up. Below are … Read More

10 Ways to Make CDs Cool Again

By Neil Stanley The March 12, 2018 article by The Financial Brand, “How Banks and Credit Unions Can Survive Rising Interest Rates,” brings attention to the struggles banks and credit unions face today in attracting and retaining long-term savings depositors. In a recent study by Raddon, consumers were asked if they planned to open a CD or money market account in the next … Read More

Referrals That Get Results in Just Four Steps

By Clint Goelz When a referral results in a new core relationship, something beautiful happens! It’s a positive endorsement of your bank or credit union’s customer service and typically results in a more loyal relationship. Referred customers and members require fewer marketing dollars than non-referred new customers, so your institution can generate more revenue at a lower cost. According to … Read More

Pop the Hood: A Customer Service Checklist

By Bill Etmund Your car seems to be running just fine. No menacing dashboard lights are blinking at you. But since you’re a wise car owner, you occasionally drive your vehicle in for a maintenance checkup. You have the brakes checked, the cooling system examined, etc. You depend on your car, and you know that the consequences of neglect can … Read More

The Mortician’s Guide to Retail Banking

By Dr. Sean Payant Community bankers face many challenges; intense deposit and credit competition, changing demographics, complicated technology and regulatory obligations, to name just a few. One of the most daunting challenges, however, is one that is often overlooked: conventional wisdom. Conventional wisdom is our adherence to accepted norms and common practices. On the surface, it appears to promise safe, … Read More

Winning People Over

The slightest advantages can make a difference in convincing people you are right for them. Are you doing all you can to win prospects over? By Scott Friesen What is it like to become a new customer or member at a financial institution? One of the key elements of our Haberfeld Customer Acquisition and Growth™ strategy is to measure just … Read More

A place everyone wants to be

By Dann Nelson There is a place where everyone is concerned more about the well-being of those they serve and work with than they are concerned about themselves. In that place, each person knows others have their best interest in mind. When that happens, an emotional connection is made. We’re talking about employee engagement, and the result is an environment … Read More

All In

To paraphrase the old saying, all courses of action are risky, so fortune favors those who calculate risk and act decisively. The same goes for poker players who know when to go all in, and for community financial institutions that want to win and attract all the customers they can. By Stephanie Kubert Over the last several years, “all in” … Read More

If your bank is half full, why not fill it up?

Big or small, a business has fixed costs. If you’re already spending that capital, doesn’t it make sense to do what you can to not just look for the right customers, but more customers? By Bryan Easley Recently, I was going over account profitability assumptions with the management team at a prospective client’s office. This bank had about 850 checking … Read More

A former teller tells all

By Stephanie Kubert As a part of the Haberfeld consulting team, who began my financial services career as a teller, I love seeing so many tellers transform professionally once our program has successfully become part of their culture. “Back in the day,” when I was a teller, tellers were not often included in the communication loop in regard to bank goals … Read More

3 Myths Keeping Your Institution from Becoming a Sales Culture

By Jenifer Snook Community banks and credit unions are facing tougher competition every day. Pair that with many financial institutions losing important NSF fee revenue and it is more important than ever to make sure each and every customer is profitable. There are two ways to increase sales: gain new customers and sell new products to existing customers. Community banks … Read More

The importance of self awareness

By Matt Swanson “If reality TV has taught us anything, it’s that you can’t keep people with no shame down.” Liz Lemon, 30 Rock Self-awareness has been broadly defined as, “knowledge and awareness of one’s own personality or character”. Self-awareness of the areas in our personality or character that need to be adjusted or fine-tuned is what I’m concerned about. … Read More

Give it away

By Bill Etmund All financial institutions (FI) would like their customers to view the FI as their primary place for banking. To expand a customer’s relationship beyond the checking account, FIs must offer the expanded services a consumer would need. Customers who have multiple products with a bank are more stable and more profitable than single-product customers. The best time … Read More

How do you define community based?

By Rachael Houghton We are a community based financial institution. That term is said often in many of our financial institutions – when we answer our phones or someone opens a new account with us. But, are we, at the frontline, really putting confidence and belief behind it? Or, is it just something we are scripted to say? We know … Read More

New Year, new look for your organization?

A new year is perfect for starting anew, which is why we choose this time to create resolutions. It’s also a good time to think about the health of our organizations and how we can make them better, too.

Service is everyone’s job

Customers simply want their needs to be addressed – they don’t want to hear “I can’t help you,” “I don’t know,” or “that’s not my job.” Taking care of our customers is everyone’s job.