Value of banking associations to the members
As most bank executives will agree, the banking industry is ever-changing in terms of compliance issues, consumer payment strategies, and technology advances. Add to that the need for continuing education in best practices for lending strategies and risk management, and the task of working with and managing banking institutions can be overwhelming.
Because of the complexity of the banking industry, we think the value of banking associations to the members cannot be overstated. What are some of the benefits typically available to banking association members?
Perhaps now more than ever, a real value of banking associations is the ability to provide access to thought leadership and up-to-date information such as ACH fraud and other types of cyber crime. For instance, registration is now taking place for members of the American Bankers Association (ABA) for a course entitled, “Fighting Fraud in the ACH Network.” Many such course offerings are available to banking association members, and these courses help bankers to stay on top of potential problems in the areas of fraud and cyber crime.
Members also benefit from regular updates and bulletins concerning compliance issues including calendars for final rulings, as well as group discussions about how to implement strategies to be compliant with all current federal rulings.
Also, associations offer extensive training in other banking areas, often breaking such training down by standard job description so that members may best take advantage of training that is job-specific to them personally. This saves time and money for the bank and for the busy executive individually.
Not to be overlooked is the advantage of having a platform for advocacy. Banking associations understand the needs of the banking industry, and united groups can effect real and lasting change in legislation that leads to economic growth.
These are just a few of the benefits available to members of banking associations.
For more information, please contact us. We will be glad to share our experience with you.