Here is a place where I share thoughts and ideas about the Delta and its people. When you grow up in a place, connected to the land, it changes you, and finds a way to stay with you, no matter where you are.
Wednesday, February 25, 2009
General Transfer is a key issue for most rural banks. One key challenge these banks have is relationship retention. If you've taken the first step (and some are frankly afraid to look) and found that many of the heirs to your current deposits are "somewhere else" then you realize the challenge. Two parallel tracks are necessary. First, address the heirs who are still local. Reach out, through parents if necessary, to form relationships and help these heirs learn that your bank can be a valuable tool for managing the assets that will be left to them, be they a business, land, or simply deposits. Second, put together a plan to reach out to absentee heirs with essentially the same message . . . we are here to help you manage your inheritance. Your plan for resident and non-resident heirs is comprised of three main parts: relationship (a face); services; and technology. Next time, more on this subject.
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