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ICBA News Release
FOR IMMEDIATE RELEASE
ICBA Adds Preferred Service Provider to Enhance Deposit Account Product
Orlando, Fla. (March 3, 2008)—The Independent Community Bankers of America (ICBA) announced the selection of BancVue, Austin, Texas, as a new ICBA Preferred Service Provider to supply REWARD Checking® software to help community banks acquire deposits. The announcement was made at ICBA's National Convention and Techworld held in Orlando, Fla. March 2-5.
"ICBA is very pleased to offer the next evolution of retail demand deposit accounts to ICBA community bank members," said Dan Clancy, ICBA senior vice president of services. "We're particularly pleased that BancVue has a product that fits well into a community banking culture that thrives on developing long-term banking relationships by offering a wide variety of products and services."
"The REWARD Checking product is a leading edge tool that is helping my bank improve profitability by attracting tech-savvy, highly loyal core depositors," said Milton Smith, FNB of Lawrence County at Walnut Ridge, Ark., an ICBA member community bank that has begun to use the software. "The REWARD Checking product is a resource that will enhance the ICBA member community banks' ability to compete in the ever-changing marketplace by improving marketability of community bank products."
"Real success comes from providing unmatched products and services that ICBA member community bank customers can trust and feel good about using," said Don Shafer, BancVue chairman.
REWARD Checking® offers a number of characteristics that are attractive to community bankers:
- Customers maintain higher average balances in their checking account.
- Increased debit card usage.
- More than 80 percent of customers use direct deposit and receive e-statements.
- Nearly 90 percent utilize online banking services.
- The product contributes to generating core-deposits.
- Accounts generate more in annual profit and have a longer retention rate.
- Highly competitive rates.
BancVue is passionately dedicated to empowering community financial institutions to dominate their market. BancVue's REALChecking™ System provides innovative and exciting checking accounts that improve profitability, increase core deposits, and deliver new customers. Each REALChecking product is implemented with BancVue's REALResults™ turnkey solution that combines experience driven consultation, technology integration, dynamic marketing services, launch support, and training that ensures each product's success.