Smith & Wilkinson’s Post

Did you know that over half of US adults say money has a negative impact on their mental health? That's according to a recent Bankrate survey. If money is causing stress for your employees, it could be impacting their productivity. That's where 1st Ed Credit Union comes in. As a Select Employee Group, we offer credit union membership to your employees as a financial wellness benefit. And the best part? It won't cost you a thing. By providing access to the area's best rates and rewards debit and credit cards, we can help your employees feel more secure in their finances. And as a local financial institution, we're here to serve our members, not some far away location. If you're looking to attract and retain top talent, consider offering a benefit package that includes financial wellness. Let 1st Ed Credit Union help you take care of your employees. #moneymatters #employeebenefits #creditunion #creditunions

Here is a roundup of recent hires, promotions and retirements in the banking industry. Read more in the latest edition of Mainebiz. https://ow.ly/aXgR50Qcxyh

Congratulations First Bank & Trust for the SBA recognition of your outstanding lending record in the state! We are grateful to have investors like you who are committed to promoting prosperity in their communities. To read more about the impact First Bank & Trust has had in South Dakota, check out the article below!

This is a great article highlighting the incredible impact that investing in your employees can have on a credit union’s success. At a time when credit unions are downsizing their financial health teams, and credit union focused conferences are replacing financial wellness topics with AI conversations, I wonder if more credit unions will miss hearing and trying initiatives like this one. Time will tell.

Meet Sydney Bonham, Assistant Vice President, Investor Accounting at Northpointe Bank! Tell us about your current role at Northpointe Bank? I manage Investor Reporting operations, reconciliation, research, and resolution of data and cash discrepancies. At the intersection of the Loan Servicing and Accounting Departments, Investor Accounting is also responsible for processing bank-level portfolio reconciliations, flow service releases, repurchases, and monthly invoicing for our subservicing agreements with external entities. How have you led by example to inspire your team to achieve greatness? I continuously encourage my team to put their best foot forward and to collaborate on solutions, especially when it comes to our work product. As we are subject to fluctuating market conditions, it is important to be a critical thinker, capable of adapting your strategy and approach to the prevailing circumstances. What do you love about working at Northpointe Bank? I love the sense of duty to community at Northpointe Bank. Whether volunteering with a local agency like Kid’s Food Basket or Junior Achievement, or internally rallying around a common goal, I appreciate reinforcement of the importance of contributing to the lives of others in a collaborative way. How do you balance the demands of work and life to achieve success in both? I am intentional about creating a balance between my work and life demands, to make space for success in both areas. I do this by establishing clear boundaries for myself and focusing on the present. Wherever I am physically, my mind should also be to maximize outcomes. What is an item on your bucket list? Traveling makes up a few items on my bucket list. Close to the top, however, would be traveling abroad with my children to visit and experience the land and culture of our ancestors in Africa and in Europe. What woman in history inspires you the most? Why? Toni Morrison serves as an incredible historical inspiration to me. Not only was she an expressive pioneer, giving life to stories from the perspective of black women, but she was an example of how to live unapologetically. #WomenofNorthpointe #WomensHistoryMonth

Great article written by our CEO, Mike Prior. If you are in the Credit Union space, I definitely recommend giving it a read!

Take a look at this thoughtful article by PFG's CEO Mike Prior on 3 Simple Steps to protect your credit union and members from an unexpected broker-dealer exit! "Credit Union Wealth Management Execs: You’re on the Clock!" https://lnkd.in/gd29na67 #CreditUnions #creditunion #WealthManagement #investmentadvisor #financialplanning Priority Financial Group

Unlock the keys to community prosperity with insights from the latest "Banking on Growth" episode by Midwestern Securities. Join Fairfield National Bank's professionals—Luke Harl, Jonathon Farmer, and Rich Montgomery—as they explore dynamic strategies for growing community wealth, diversifying business lines, and fortifying financial resilience in the Midwest. #BankingOnGrowth #CommunityProsperity #FinancialInnovation

Wells Fargo is trying to make it simple. If advisory teams want to qualify for the higher payouts offered under its “growth” plan, all they have to do is bring in $2M in net new client assets. With comments from: Michael King, the president of New York-based Michael King Associates; Sol Gindi, the head of Wells Fargo Advisors; Rick Rummage, the CEO of The Rummage Group; Roger Gershman, the CEO of The Gershman Group. #financialplanning #compensation #wealthmanagement #financialadvisors #advisors #banking #WellsFargo

Finding New CU Members within Your Employer Groups... Credit unions have been adding new members at a pace of about 350,000 members per month (based on a TruStage/CUNA report looking at Nov ‘22 -Nov ‘23). But in 2024, membership growth is projected to slow down to 2.5%, the lowest we've seen since 2016. While there are macroeconomic factors at play keeping that depressed - I see a really cool opportunity to drive membership. Offer lines of credit (LOC) to employees within your existing corporate groups (SEGs) for a special purpose - to help them tap into their money-making benefits. These lines of credit can cover the upfront costs needed to fully participate in benefits like Employee Stock Purchase Plans (ESPPs) and 401(k) matching programs—benefits that earn them real money but often go unclaimed, leaving billions of dollars on the table. What’s your credit union’s strategy for helping members pick this money up off the table? ➕ 👨🔧 👩🔧 #CreditUnions #MemberGrowth #ESPP #FinancialServices #CommunityImpact