INCREASING COMMUNITY BANK COMPETITIVE ADVANTAGE
- ICBA strongly encourages community banks to identify and develop new sources of revenue, control costs, and maintain profitable investments in order to compete effectively and serve their communities.
- Through the strength of member aggregation, ICBA provides, develops, and supports exclusive value-added products and services designed to enhance the competitive position of community banks.
To compete and thrive in the current economic and competitive environment, community banks must continue to expand product lines and seek new sources of revenue, as well as manage costs. ICBA, through the Bank Services Committee, subsidiary boards and staff, identifies, researches and develops unique services and programs to help community banks retain customers, grow assets, and increase profitability -- ultimately increasing franchise value. ICBA Preferred Service Provider programs provide dividend, fee income, and discount programs for community banks.
More than 85 percent of ICBA members use an ICBA product or service from one or more of 29 Preferred Service Provider programs and four subsidiary service companies offered through ICBA’s wholly owned subsidiary, ICBA Services Network. While ICBA performs due diligence when reviewing potential service providers, we encourage community banks to perform their own in keeping with regulatory guidance.
ICBA Preferred Service Provider Programs
In the first quarter of 2014, ICBA announced that more than 1,200 members will share in a $2.3 million policyholder dividend as part of their participation in the property and casualty lines with the Travelers SelectOne ICBA Insurance Program. This is the 12th consecutive dividend that participating ICBA members have received. Since 1982, members have received more than $40 million in dividends.
ICBA has launched four new Preferred Service Provider programs in 2013: Bank Assetpoint with Promontory Interfinancial, Student Loan Consolidations with iHELP, and both Lending Network and Remote Deposit Anywhere Processing Services with ProfitStars.
ICBA members save with discounts or earn fee income through a variety of programs including energy procurement and management with Affiliated Power Purchasers International (APPI Energy), disaster recovery services with Agility Recovery, account acquisition and retention software with BancVue, bank peer analysis with Bank Intelligence by Fiserv, enterprise financial picture with Banker’s Dashboard, bank hardware equipment with BLM Technologies, outsourced Cloud Computing with Compushare, secure card plastics with CPI Card Group, telecommunications consulting with EtherTel Networks, secondary market access with Farmer Mac, bank operations software and loyalty products with FIS, outsourced SBA lending services with Holtmeyer, & Monson, overdraft programs with Impact Financial Services, customer relationship management with inBusiness Services, retail brokerage services with Investment Centers of America, executive and director benefits with M Benefit Solutions, check printing with Main Street Checks, surcharge-free ATM Network with MoneyPass, equipment leasing and financing with OneWorld Business Finance, postage equipment and printer supplies with Pitney Bowes, public sector funds through PMA Funding, asset-based lending, remote deposit, and remittance with ProfitStars, CD Account Registry Service and Insured Cash Sweep with Promontory Interfinancial, non-brokered CD marketplace for funding and investing with QwickRate, private student lending in conjunction with Student Loan Finance Corporation, bank insurance with Travelers, currency services with Travelex, asset quality and credit risk management with WebEquity Solutions, and deposit and lending compliance with Wolters Kluwer.
ICBA Services Network
In 2013, ICBA members earned over $300 million in total gross revenue in the services of the ICBA Services Network subsidiaries. The services of the Network provide consumer and business credit and debit cards and other payment solutions through ICBA Bancard and agent consumer and small business cards through TCM Bank. Secondary mortgage lending options, mortgage technology products, and tax and escrow services are available through ICBA Mortgage, while community banks benefit from the institutional fixed-income expertise of ICBA Securities. Community banks continue to add investment and tax advantaged dividend income through their participation in the credit life programs of ICBA Reinsurance. Additionally, ICBA members have access to CRA solutions through the Senior Crimestoppers Program, regulatory consulting services with ICBA Compliance and Risk Management, and outsourced IT management with ICBA Strategic Technology Solutions.
The revenue that ICBA receives from Services Network activities and ICBA Preferred Service Providers helps keep ICBA member dues the lowest of any major national banking trade association and helps fund important trade association initiatives. Additionally, ICBA shares these proceeds with supporting State / Regional Partners to help them meet their members’ needs. Since 1982 ICBA has shared more than $35m and will continue to encourage joint efforts to develop, market and support services with State / Regional Partners, bankers’ banks and other interested parties in order to enhance member banks’ franchise value. All members are encouraged to examine the many benefits of the products and services offered by ICBA and ICBA Services Network.