Banks victorious on state, federal credit union bills
Thanks to the grassroots efforts of bankers across the state, Iowa banks have achieved significant victories over bills that would have expanded credit union powers at both the state and federal levels.
A bill (HF 2384) proposed in the Iowa House would have granted state-chartered credit unions a “self-executing” wild card, automatically granting them any power Congress granted to a federal credit union. Thanks to contacts made by IBA members, House leaders were convinced that the votes were not there to support the bill, and the bill was not brought up by the House prior to adjournment on April 26.
State Rep. Doris Kelley (D-Waterloo) played a key role in preventing the legislation from reaching the House floor.
“(Rep. Kelley) is to be commended for what she did. She has a great knack of looking at both sides of an issue, and she really went to bat for us,” said IBA Board member Stacey Bentley of Community National Bank in Waterloo.
“It’s so important that if we’re going to compete with credit unions, we compete on an even playing field,” Bentley said.
A second victory over credit union expansion was recently achieved at the federal level. House leaders removed HR 5519 from the floor schedule following a grassroots campaign led by the American Bankers Association that generated more than 17,000 automated letters and numerous calls and e-mails from bankers and state associations.
The bill would have allowed for the expansion of credit union membership and allowed credit unions to offer an array of consumer loans to non-members residing in their field of membership under the guise of providing an alternative to payday lending.
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Farm Bill conference continues, without HORIZONS
As of Tuesday, May 6, negotiations over the 2008 Farm Bill were reportedly nearing completion. As conferees work to resolve differences between the House and Senate versions of the bill, there are strong indications that it does not include any of the Farm Credit System’s HORIZONS provisions.
The bill is expected to reach the floor of the House and Senate by early next week, prior to the expiration of a two-week extension of the 2002 Farm Bill passed by Congress on May 1. The extension runs until Friday, May 16.
President Bush has said he would veto the bill if it did not include what he believes are needed reforms. Senior conferees say they hope to convince the President to sign the legislation, but they are also making plans to try to override the veto if necessary.
The Iowa Bankers Association will continue to monitor developments to ensure the final legislation does not include provisions to expand the lending authority of the Farm Credit System.
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Enhance your career by serving on an IBA board or committee
Your involvement is vital to the Iowa Bankers Association. Whether your interest is in legislative affairs, lending, management, marketing, education or compliance, there is a place for you at the IBA. There is no better way to grow your career, your bank and your industry than to serve on one of the IBA boards or committees.
The IBA needs talented and motivated banking professionals who are interested in leadership opportunities to attend meetings three to four times per year. Committee terms generally run from Sept. 1 through Aug. 31. By serving on an IBA board or committee, you can be an asset to your bank through direct involvement in your association. You will gain visibility within the industry, be a part of a committed team and enjoy a career-enhancing experience through networking opportunities.
A brochure outlining volunteer opportunities with the IBA is included in this week’s edition of Extras. The brochure is also available on the IBA Web site at www.iowabankers.com. Please return your completed volunteer form to the IBA’s Claudia Ross by June 13.
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IBA officer nomination ballots due May 31
Nomination ballots for the IBA Chairman-elect and Treasurer were mailed to member banks on May 1. Current Treasurer Roger E. Claypool, president and CEO of Shelby County State Bank in Harlan, is running for Chairman-elect. Kevin R. Eekhoff, president and CEO of First National Bank of Akron, is running for Treasurer. Ballots must be returned in the postage-paid envelope by May 31.
IBA employee training kicks off ‘1st Class Service’ program
The Iowa Bankers Association recently finalized its “1st Class Service” program that outlines customer service standards for employees of the IBA and its affiliates. The IBA kicked off the program by offering training sessions for employees of the IBA, Iowa Bankers Mortgage Corporation (IBMC) and Iowa Bankers Insurance and Services, Inc. (IBIS). The three-hour training sessions held on April 21 and 28 were presented by a professional trainer.
“We thought the best way to communicate the guidelines to employees was through training that could generate some interest and enthusiasm around the concept of superior customer service,” said Karen Rieck, IBA Vice president of human resources, who facilitated the development of the program.
A task force of 10 employees from the IBA, IBMC and IBIS developed the program by identifying guidelines for telephone, face to face and written communication. These guidelines were then compiled in a “1st Class Service” manual which was incorporated into the training sessions in April.
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Culver approves funding for low-income savings programs
Gov. Chet Culver has approved SF 2430, known as the “Economic Stimulus Bill,” which provides funding for matched savings programs in Iowa. These savings accounts, known as individual development accounts (IDAs), are designed to build assets among eligible low-income families through a match incentive supported by private and public sources.
The bill updates Iowa law on the regulation of IDAs and appropriates $150,000 to support local or statewide organizations wishing to implement IDA programs in Iowa. The Division of Community Action Agencies (DCAA) in the Iowa Department of Human Rights will administer the programs.
Bill Brand, administrator of the DCAA, said IDAs provide a “huge incentive” for a family or individual to save. The savings can be used only for specific purchases, such as paying for education or job training, purchasing a home or vehicle or purchasing assistive devices for persons with disabilities.
“The hope is that this will provide an opportunity for low-income families to build long-term assets that will lead to self-sufficiency and allow them the opportunity for long-term financial security that all the rest of us enjoy,” Brand said.
He said IDAs also connect families to a financial institution and include a financial education component to encourage the development of financial management skills.
Brand expects the DCAA to issue a request for proposals to potential operating organizations in the near future. The rulemaking process has begun, and he anticipates getting the program up and running as soon after July 1 as possible.
Brand said there are different levels at which members of the Iowa Bankers Association could become involved in an IDA program. The IBA will keep member banks informed as more details become available.
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Sponsor a teacher to attend the Iowa Jump$tart Conference
Iowa banks can help teachers learn the latest ways to teach personal finance to students. The Iowa Jump$tart Coalition is gearing up for its annual Financial Literacy Conference that will take place July 17-18 at Des Moines Area Community College in Ankeny.
Each year, more than 70 high school teachers attend this conference to learn new techniques for teaching financial literacy to their students. Through the “Sponsor a Teacher” program, your financial institution can sponsor a teacher and provide a great learning opportunity for them to attend this year’s conference.
Any financial institution can sponsor a teacher by sending $150 directly to Iowa Jump$tart Coalition. Financial institutions can also choose to contact a teacher of their choice and provide the $150 directly to the teacher.
Click here for more information about sponsoring a teacher. Click here for the sponsorship form. The form is also available in this week’s edition of Extras. If you have questions about the program, contact the IBA’s Cheryl Miller at 800.532.1423, ext. 2950.
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56 Iowa banks participate in Teach Children to Save Day
The Iowa Bankers Association applauds the efforts of the 56 Iowa banks that participated in the 12th annual National Teach Children to Save Day on April 29. Together, bankers taught hundreds of Iowa students the value of saving.
Employees of Grundy National Bank in Grundy Center took their Teach Children to Save efforts to first-grade and sixth-grade classrooms at Grundy Center Community School. GNB staff acted out scenarios and facilitated activities to help students learn the importance of saving money for the future. The bank’s efforts reached a total of 101 students.
National Teach Children to Save Day is sponsored by the American Bankers Association Education Foundation. The IBA facilitates bank participation in Iowa by distributing educational kits to member banks. For more information visit www.aba.com/abaef.
Above: Grundy National Bank employees Kim Lashbrook and Brooke Nederhoff met with a classroom of first-grade students to do a presentation on the importance of saving.
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Thank you to the following 2008 Teach Children to Save Day participants:
American State Bank, Sioux Center
American Trust & Savings Bank, Dubuque
Bank Iowa, Altoona
BankIowa, Cedar Falls
BankIowa, Independence
BankIowa, Jesup
Boone Bank & Trust Co., Boone
Carroll County State Bank, Carroll
Central State Bank, Elkader
Central State Bank, Muscatine
Citizens Bank, Anamosa
Citizens Savings Bank, Spillville
City State Bank, Central City
Clarke County State Bank, Osceola
Community Bank of Oelwein, Oelwein
Community State Bank, Indianola
East Dubuque Savings Bank, Dubuque
F&M Bank & Trust , Burlington
Farmers State Bank, Marion
Farmers Trust & Savings Bank, Earling
Farmers Trust & Savings Bank, Woodbine
Fidelity Bank & Trust, Guttenberg
First Citizens National Bank, Clarion
First Citizens National Bank, Mason City
First National Bank, Waverly
First Security Bank & Trust, Charles City
First State Bank of Mapleton, Mapleton
First Trust & Savings Bank, Marcus
Freedom Security Bank, Coralville
Grundy National Bank, Grundy Center
Guthrie County State Bank, Panora
Heritage Bank, Anthon
Home State Bank, Jefferson
Iowa State Bank, Des Moines
Iowa State Bank, Hull
Iowa State Bank & Trust Company, Iowa City
Iowa Trust and Savings Bank, Centerville
Landmands National Bank, Audubon
Manufacturers Bank & Trust Co., Forest City
Maquoketa State Bank, Maquoketa
Midstates Bank, Council Bluffs
Midwest Heritage Bank, Clive
Peoples Trust & Savings Bank, Clive
Peoples Trust & Savings Bank, Guthrie Center
Randall-Story State Bank, Story City
Security Savings Bank, Gowrie
Security State Bank , Guttenberg
Security Trust & Savings Bank, Storm Lake
Shelby County State Bank, Harlan
State Bank & Trust Co., Nevada
TierOne Bank, Red Oak
Tri-County Bank & Trust, Cascade
US Bank, Onawa
Vantus Bank, Sioux City
Wells Fargo Card Services, West Des Moines
West Chester Savings Bank, Washington
If your bank is not listed above, it’s not too late to register as a participant. Register at https://www.aba.com/perseus/surveys/tcts2008.htm by May 16.
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Help make 4-H opportunities available to more Iowa youth
The Iowa 4-H Foundation has launched a new “Think Green, Grow 4-H” statewide initiative to increase 4-H club enrollment by 3 percent annually. In 2008, the Foundation has set a goal to launch at least one new 4-H club in 20 counties.
“Think Green, Grow 4-H” will also strengthen community-based 4-H clubs, serving the needs of young people in Iowa’s small towns and rural communities and helping them learn about their world through 100 different project areas. This effort also requires training a corps of 12,000 adult volunteers.
Iowa banks are encouraged to invest in Iowa’s future by providing financial support through the Iowa 4-H Bank Campaign. You will soon receive a mailing from a member of the IBA Agriculture Committee that includes a pledge form. Please consider making a gift that will make 4-H opportunities available to more Iowa youth.
For more information, contact the Iowa 4-H Foundation directly at 515.294.4780 or visit www.iowa4hfoundation.org.
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