TAG you’re it

TAG.  You know what’s looming. Many say it will expire at the end of the year and in all likelihood you’ve probably received the FDIC letter released on November 5th detailing what customer communications will be required.

So, if it expires, do you have a strategy for your customer communications? Do you see this merely as a necessary disclosure that makes you want to cringe, or one that may have no impact to your bottom line because you think your customers know your bank is financially sound?

Or do you think about this as an opportunity – to educate your current customers and potentially deepen the relationship. And have you given some thought to possibly attracting new customers who may feel the need to move their uninsured funds – do you want to be on their radar screen?

We recommend that you think of this as an opportunity — plan what you will say and when. Think strategically about the types of deposits and the types of businesses you want to keep and attract, and then act quickly.

And contact me at 303-795-3539 or lauren@oconnellconsultinggroup.com if you need help.

How Good are you at Identifying a Feature vs. a Benefit?

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