April 2020

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

Throughout the month of April, organizations across the country carry out a variety of initiatives designed to improve financial literacy, especially among our nation’s youth, and to promote financial well-being for all consumers. We are proud that the banking industry continues to lead the charge in financial literacy across Virginia, even in these challenging times!

We've compiled a variety of resources, many of which are virtual, that your bank can explore and share with your customers and communities here. Resources include:

  • Updated information on Teach Children to Save Day
  • VBA Endorsed Provider Banzai introductory offer information
  • Links to online resources to share with consumers
  • Financial literacy themed book suggestions
  • Press and social media resources

We will continue to update this page throughout the month of April. Please remember that your bank can participate in many financial literacy programs and events during the calendar year, not only during Financial Literacy Month. Contact Monica McDearmon with questions.

Motleys Asset Disposition Group

Fortis: We've Been Here Before. We Can Help You.
Commercial and Residential Foreclosure Services for Noteholders

We Can Sell It For You. Learn More.
Bankers On The Move & Recent Promotions

Benchmark Community Bank
Donna Wilborn – Assistant Vice President, Operations Officer

Virginia Commonwealth Bank
Lisa Streat – Senior Vice President, Private Client Advisor

Delta Dental of Virginia
Computer Services Inc
Industry News & Trends
When disaster strikes, brand marketing and messaging has to change. Focusing on the client can make messaging come across as more helpful and sincere in times of crisis. Create real connections with clients and listen to worries and concerns posed by customers, and find ways for your company to alleviate these worries. (The Financial Brand)
In this column, ABA President and CEO Rob Nichols shares the progress of ABA's Core Platforms Committee's work on the mandate to improve the relationship between banks and their core providers. Over the past year, the committee has had direct and productive conversations with executives from four of the major core providers: Fiserv, FIS, Jack Henry and Finastra. (American Bankers Association)
The upcoming recession will be full of unknowns. What is known is that the economy, consumer behavior and employee productivity will all be impacted. Preparing for the worst and hoping for the best might be the best course of action. (Gonzo Banker)
Virginia Small Business Financing Authority
SalesSource International
As millions of Americans switch to online video-conferencing to stay connected to school and work, privacy issues grow. (The New York Times)
As the world changes to address the coronavirus pandemic, we’ve seen digital banking morph from "important" to "essential" nearly overnight, and banks that aren’t able to market, sell and serve their customers in an entirely mobile capacity are now facing an existential threat. (Gonzo Banker)
From VBA Partners
You’re undoubtedly aware that Congress passed, and President Trump signed into law, H.R.748, better known as the CARES Act, on March 27, 2020. Here, VBA Endorsed Provider Compliance Alliance provides background on key aspects of the law, which provides multiple forms of relief, including the $350 billion Paycheck Protection Program and a delayed tax-return deadline of July 15.