To be considered as an ICBA PSP a company must:
- Show a commitment to the nation’s community banks by becoming and maintaining a SELECT Corporate Associate Membership ($4,995) with the ICBA.
- Demonstrate strong financials and a nationwide sales culture and service capability.
- Prepare and submit a comprehensive proposal based on ICBA provided criteria.
The ICBA Bank Services Committee reviews proposals and ultimately makes the final decision on selecting Preferred Service Providers. These decisions are made only after a company becomes a Corporate Associate Member, completes the ICBA Preferred Service Provider application, and undergoes a thorough due diligence review by ICBA staff including a presentation to the committee and marketplace analysis.
The success of your Preferred Service Provider program is largely dependent on the resources you are willing to commit in marketing to ICBA members and your willingness in designing a value-added program that addresses a specific challenge in the community bank market. A minimum annual royalty fee is required for each PSP program and projections should include a reasonable rationale of how this will be achieved.