Editor’s note: This column was included in the Aug. 29 version of The Pulse, a weekly BankBeat newsletter sent to subscribers.
At the beginning of August, my family piled into our 15-passenger van and took a road trip from our northern Missouri hometown through Michigan and Wisconsin. As we drove through the towns dotting Lake Michigan’s shore, I pointed out banks that I’d had the chance to read or write about. “See North Shore Bank over there? One of BankBeat’s ‘Rising Stars’ works there,” or “See that bank? They got a grant from the WBA,” or “That one hired a new CEO,” and so on. Needless to say, my 11-year-old sister was very intrigued…
After interning remotely for BankBeat throughout the summer, it was fun to actually see some of the banks connected by BankBeat’s network. Stories written by the team, interviews held and relationships established showed me a bit of what was going on behind the carefully crafted logos. As an English major who just finished my second year of undergrad, my only experience with banking came from tellering for three years during high school. At that point, my understanding of banks was centered on interactions with individual customers and friendly coworkers. While that hasn’t changed, this summer with BankBeat has given me an appreciation of the banking industry as a network.
When I first interviewed for the internship, Publisher and President Tom Bengtson said something along these lines: Bank news is a fascinating lens through which to view what is happening in the world. It only makes sense; banking is intrinsically connected to almost every (if not every) industry. They cater to a broad range of niches — agriculture, real estate, health care, and personal banking to name a few — in a way unlike any other industry. Community bankers especially have their finger on the pulse of business and life in their areas.
Technical jargon, changes in regulatory policies, and the most interesting part of a financial report still barely teeter on the brink of my banking knowledge. The team was wise to put the newbie on a community roundup piece, seeking out stories of bankers impacting their communities. When looking for these stories, I saw plenty of donation checks written — and those are great.
But a unique attribute I repeatedly found in community banks, one which has probably turned me into a “bank local” die-hard, is their ability to respond creatively and specifically to local needs in a way that fosters involvement in the community. “When a community thrives, the bank thrives,” seemed to be the motto of every interview. Nothing beats a good conversation with a down-to-earth banker excited to share an anecdote about how their customer appreciation night turned into summer mini-festivals for the whole community. (Stay tuned for the resulting story in the October magazine…)
This banker’s story — like every story — matters in its own right. It happened; it had an immediate impact. But, the impact is limited if not supported by a larger network dedicated to discovering and sharing these stories. From what I’ve seen, BankBeat is that network.
P.S. We’re currently accepting nominations for our “Outstanding Women in Banking” program. Nominations should include a description of the specific contributions nominees have made to their bank, industry and community. Use our online nomination form or send via email; submissions close September 9.
