Thinking Smarter: Community Financial Leaders Talk about Thriving in Tough Times

First Data talked to three of our national Financial Institution (FI) customers who are prospering in these difficult economic times. Armed with five questions, we asked for insight on what is happening at their community financial institution and how other institutions can learn from their success.

Something interesting has been happening in the financial services marketplace of late. While the customary banking giants are tackling difficult issues such as loan losses, consolidation, regulation and bad press, many community financial institutions are seeing phenomenal growth.

Customers who may be dissatisfied with larger, national banks, or simply scared to continue/expand their relationship with a national Financial Institution because of concerns about long-term solvency, are flocking to community banks. One-to-one customer service is in fashion again, and community banks and credit unions have been experiencing unprecedented growth and customer acquisition.

Interviews include:

  • Malinda M. Warchus, Assistant Vice President, Old Hickory Credit Union
  • J. Pat Hickman, Chairman and CEO, Happy State Bank
  • Becky Morgan, Vice President, The Exchange Bank of Alabama