Virginia Banking October eNewsletter

The Virginia Banking eNewsletter is a monthly supplement to Virginia Banking magazine, intended to help you stay on top of industry knowledge via current trends data and insights.

From the VBA

We wanted to alert you of a new effort to inform lawmakers and other interested parties about the tax exemption that large credit unions have enjoyed for decades. While the average American pays thousands in income taxes every year, billion-dollar credit unions skate by paying nothing. This must change, and you can help by following and liking the website’s social media pages on Twitter (Explore_CU) and Facebook (Explore Credit Unions). Doing so will allow you to stay up-to-date on the issue and help us engage members of Congress in the near future. The Explore Credit Unions website is available here.

PWCampbell, serving banks for 108 years!
Since 1910 PWCampbell has been widely known and respected in the financial services industry as a fourth generation, family-owned retail services and design/build firm. We offer a full range of quality facility planning, demographic research, creative retail branding, merchandising, digital marketing, interior design, furniture coordination, architectural and construction services. PWCampbell’s turnkey process provides the expertise to develop and implement engaging, impactful and scalable solutions for every sized project, on time and within budget.
Read more here
Bankers On The Move & Recent Promotions

Rhonda Roberts – Market President, Charlottesville

Taylor Bank
Atif Gaddis – BSA Officer
Shannon Lewis – Assistant Vice President, Relationship Officer
Debbie Rickards – Operations Supervisor

Touchstone Bank
James Sedlar – Executive Vice President, Chief Lending Officer

Herbert H. Bateman, Jr. – Williamsburg Market President

Delta Dental of Virginia
Computer Services Inc
Industry News & Trends
Home ownership among Millennials is on the rise, but so are their regrets, with more than two-thirds who have bought homes admitting to buyer's remorse. Yet owning a home remains a top priority for this key demographic. How can banks help? (The Financial Brand)
The U.S. Secret Service has sent out a warning about a difficult type of ATM skimming that could take days for criminals to set up. According to a non-public alert distributed to banks last week, the agency has received multiple reports about a form of skimming often called ATM "wiretapping" or "eavesdropping." (PYMNTS.com)
On the latest episode of the ABA Banking Journal Podcast, banking veteran Scott Webster talks about Huntington Bank's efforts to build a new nationwide vertical providing specialized banking services to technology, media and telecommunications firms. (ABA Banking Journal)
You may be mapping the customer journey but are you mapping the full customer experience? If your customer experience is not consistent in any way your customers could be losing sight of you and choosing another option as they move among channels. Download this free e-guide to discover what the "customer experience gap" is and how innovative banks are closing it. (The Financial Brand)
From VBA Partners
For many years, state financial leagues have existed for the benefit of the member banks they serve. VBA Endorsed Provider PWCampbell President and COO Jim Caliendo discusses the multitude of benefits they experience through their partnership with the VBA and how this type of partnership provides for companies who serve the financial industry.
Exception reporting is not new; all banks are required to report loan policy and loan documentation exceptions for safety and soundness. VBA Endorsed Provider TCA's Margaret Dolinger discusses a new unwritten rule in fair lending exception tracking, covering pricing and underwriting exceptions on consumer loan products.
The benefits of accepting credit cards typically far outweigh the costs. Being well informed is important to ensure you understand what you’re paying and why. Here, VBA Endorsed Provider TSYS shares key information to know about payment processing rates and fees.