Washington, D.C. (May 15, 2017)—The Independent Community Bankers of America (ICBA) and QwickRate today announced that their Preferred Service Provider program relationship has generated more than $3,280,447 in member discounts for community banks.
Since ICBA and QwickRate joined forces in 2002, nearly 2,000 ICBA-member banks have benefitted from QwickRate’s non-brokered certificate of deposit (CD) Marketplace product and its QwickAnalytics® Credit Stress Test offering and related discounts.
“As an ICBA Preferred Service Provider for 15 years, QwickRate continues to be a tremendous resource for our members,” said ICBA Executive Vice President of Vendor Relations Dan Clancy. “QwickRate’s non-brokered CD Marketplace provides community banks with an opportunity to increase their deposit volume and offers a reliable source of contingency funding to more effectively manage liquidity needs, while its Credit Stress Test helps quickly assess their risk exposure to economic shifts for improved contingency planning.”
QwickRate helps community banks augment local lending opportunities and gain higher yields on excess funds by enabling them to purchase and sell non-brokered CDs through easy, online access to its more than 3,000 nationwide subscribers. In addition to maintaining a robust marketplace, QwickRate provides on-staff regulatory guidance and unlimited customer support to its subscriber base.
Using sophisticated algorithms and “what-if” modeling, QwickRate’s QwickAnalytics Credit Stress Test, helps community banks assess their exposure to adverse events, allowing for necessary adjustments to improve market performance. The Credit Stress Test automatically incorporates data from the banks’ call report and provides a manual override that allows bankers to adjust assumptions to drive additional scenarios.
“We take pride in our relationship with ICBA and serving its member community banks nationwide and look forward to continuing to provide community banks with a prudent source for generating deposits, which meets their customers’ lending needs, satisfies contingency funding requirements, and helps banks mitigate their risk exposure,” said QwickRate President Shawn O’Brien.
For additional information about community banks, visit www.icba.org.
QwickRate provides the premier Marketplace for non-brokered funding and investing. With more than 3,000 members, QwickRate offers community financial institutions a cost-effective way to gain direct access to a nationwide CD market to help proactively manage their primary and contingency liquidity needs. The company’s online QwickAnalytics™ tool offers interactive research on all 6,000 U.S. banks, Bank & Peer Performance analysis and examiner-ready Regulatory Compliance reports to save time, easily inform management and directors, and satisfy regulations. QwickRate is known for its exceptional customer service, which includes unlimited support and valuable on-staff regulatory guidance. QwickRate is a Preferred Service Provider of The Independent Community Bankers of America (ICBA). For more information, visit www.qwickrate.com or call (800) 285-8626.
The Independent Community Bankers of America®, the nation’s voice for more than 5,800 community banks of all sizes and charter types, is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education and high-quality products and services. For more information, visit ICBA’s website at www.icba.org.