Community Development Banking Balancing Mission and Margin.
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Transcript of Community Development Banking Balancing Mission and Margin.
Community Development Banking
Balancing Mission and Margin
Balancing Mission and Margin
• Corporate Commitment– Seeking Revenue– Responsible Community Investment
• CRA, Community, Client• Understanding the Segment (LMI)
– Research– Client Demands– Client Treatments– Test and Learn
• Building a Strategy– Client Centered Products– Culturally Relevant (Respect)– Informed Distribution and Marketing– Relationship Focused– Partnerships
Balancing Mission and Margin• Key Basic Solutions Package
– KeyBank Plus in branch checkcashing– Financial Education program
• In-branch Financial Education Center(s)• Community-based education• Web-based training
• Additional Products and Services– Checkless checking account– Free checking– Savings product– Small line of credit (CRC)– Remittance product– Money orders– Loan assist
• Other Planned Services– Automated utility bill payment– Check cashing ATM
Balancing Mission and Margin• Sponsorships with Community and Government Partners
– Ohio IDA Program– EITC
• Selected Results– KeyBank Plus Check Cashing
• 200 Branches– Cleveland, Akron, Albany, Denver, Syracuse, Portland, OR
• 17,000 clients• 37 million in checks cashed
• Financial Education Program– 5,000 participants since 2004– Committed to reduce debt $797,932– Alleviated disputed debt $160,445– 300 New accounts opened
• EITC– Approximately 300 bank volunteers in 14 cities– 1,235 Returns completed– $2,75 million in refunds
• Loan Assist– 639 loans for $1.2 million
Balancing Mission and Margin
Thank You!