What's Insured and What's Not: Clear up the confusion and keep your customers

Some of your borrower's are confused about what is insured and what is not. You probably know the rules, but if you are looking for a concise and clear explanation to share, send an email with this link.

Federal Reserve Consumer Information:

BANK PRODUCTS: What's Insured and What's Not

What does this have to do with keeping customers?
Some of the most successful community banks and credit unions are gathering more in deposits right now because they are connecting with their customers to let them know the safety of their funds. How are they doing it? By phone and mail.

My money is on the phone calls. I got a notice in my statement from the bank the other day, but there are always notices in my statement. Not nearly as noticeable as a phone call.

And if your bank or credit union has more on hand, you may be able to be less tight on offering credit to your business borrowers than the next financial institution.

Safe deposits and ease of getting loans: That is the 'keeping' customers part.