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Rewards Checking — What Accountholders Really Want From Their Financial Institution

cashbackrewards new

What do accountholders really want in terms of rewards programs? Two things: cash and customer service. According to the Q4 National Banking Opinion Poll, 61% of Americans stated they would switch to a new institution if it provided them with a cash back rewards program. But what good are those programs if an institution can’t back them up with the kind of customer service that gives accountholders peace of mind when opening a rewards checking account?

6 Keys for a Successful Overdraft Program

There are no one-size fits all overdraft privilege programs. Each overdraft privilege program needs to be unique to your financial institution and provide your staff with proper training. Through reasonable fees, expectations and conservative overdraft limits, your financial institution can provide accountholders with a valuable customer service they appreciate.

4 Years After Reg E - Where Does Your Financial Institution Stand?

overdraft privilege programs

Hi, I’m Joe Gillen CEO and Founder of Pinnacle Financial Strategies. In the interests of full disclosure, we at Pinnacle provide community banks and credit unions with consumer-focused overdraft programs that are successful, efficient, and 100% compliant. We believe that consumers deserve the freedom to choose an overdraft privilege product that is fairly administered, delivers real value and provides a genuine consumer service, and is a useful tool in dealing with unexpected financial challenges.

Banking Small & Mid-size Businesses is Good Business for Community Banks

Business Banking Consulting

By Julie Story, Executive Vice President of Pinnacle Financial Strategies
As a segment of the market that is underserved by the large national and regional banks, local businesses present a wealth of opportunity for community banks.

This means you can grow your deposit base quicker with new business customers than you can by pursuing only consumer accounts. And business banking relationships are more profitable and last longer than do consumer retail relationships.

5 Reasons Good Overdraft Privilege is Still a Consumer Service

Pinnacle OverdraftPrivilege Benefits Chart 2

While many financial institutions have let their overdraft privilege programs slip by the wayside after the implementation of Reg E in 2010, others have achieved success using fully disclosed, automated overdraft privilege programs. Good overdraft privilege programs provide your accountholders with stability and convenience while avoiding the embarrassment of a returned item. While not all overdraft privilege programs are the same, a specialized program that fits your financial institution provides a distinct consumer service that your accountholders value.

How Good Accountholder Service Can Increase the Bottom Line

Accountholder satisfaction plays one of the most important roles in a financial institution’s daily operations. Recent studies have shown that there is a financial gain for institutions that get accountholder satisfaction right. According to a study by the Aberdeen Group, when accountholders are satisfied, they will increasingly:

Few Consumers Take Simple Precautions With Mobile Devices

A large number of consumers who have not yet adopted mobile banking cite security concerns as the primary obstacle. However, new data shows that many Americans fail to take the necessary steps to protect all of the information already stored in their smartphones. 

Credit Unions Posted Record Earnings in 2012

Credit union programs across the nation have been attracting more members, as evidenced by recent data that shows record earnings for 2012. 

Urge Consumers to Plan Ahead For Emergencies

Most banks and credit unions help their customers and members plan for their futures by providing lucrative products, such as low-interest loans, rewards checking and educational products to help them make smart financial choices. However, several studies have demonstrated that one type of preventative measure consumers should be taking - and aren't - is building an emergency savings fund. 

Banks Projected To Put $118 Billion Toward Mobile Banking, Technology

Bank consultants have noted that advanced mobile technology is in high demand by customers, and many banks are shoring up their resources to devote more money to developing this technology.

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