Behind the Vault

The operative word in community banking is community. Sometimes, a community extends beyond a local geography. OneUnited is an example of a community financial institution that has evolved to meet this definition of community. With over $600M in assets, OneUnited is the largest black-owned bank in the US. It leverages technology and its unique approach to banking to serve a distinct community of customers across the country.

Highlights from this episode:

The strategy that drove a string of acquisitions to the bank's footprint today

Overcoming distrust in banking and getting past perceptions of the 2008 financial crisis

Their use of technology to unify operations across the bank and deliver a modern digital experience for customers

OneUnited's structure as a Community Development Financial Institution (CDFI) and how that aligns with and enables their mission

The critical role education plays in the bank's approach to service

OneUnited's approach to sustainable CRA activities

For more info on OneUnited and Teri's story, visit OneUnited.com.

Sometimes, the name says it all. This week, we speak with Lex Ford, President and Director of Climate First Bank. A Central Florida de novo bank started in 2021, Climate First aims to use banking to reduce atmospheric CO2. But the bank isn't just for those looking to work with like-minded businesses. Lex shares the organization's philosophy and approach to internal alignment and bringing as much of their community along with them.

Highlights from our discussion:

Climate First's origins and unique structuring as a B Corp

The bank's approach to branch development and use of LEED certification

Creating bespoke solutions like loan origination software to speed the financing of solar projects

Why they cater to traditional fossil fuel customers

Using their own annual reports as impact statements and an example of accountability and transparency

To learn more, visit https://climatefirstbank.com

The bank's annual impact statement: https://www.climatefirstbank.com/our-impact

In this episode, Laura Worzella, Chief Operating Officer of OneAZ Credit Union, discusses building a strategy for long-term success based on market and demographic trends. From slow-moving generational shifts in population to the rapid changes new industries can bring to a region, staying ahead of your community's evolving needs can be difficult. Laura shares OneAZ's insights and approach to doing just that with the changing face of America's Southwest.

Highlight from our discussion:

The unique demographic shifts in Arizona

The growing industrial and SMB

How all of these factors influence expansion and technology investment

Implementing Agile as a business philosophy

Internal organization to reduce friction

OneAZ's website: https://www.oneazcu.com/

Their community partnership examples: https://www.oneazcu.com/about/news/2023/oneaz-credit-union-partners-with-novle-community-activators-to-better-serve-latino-community/

Their SMB partnership with State Forty Eight Clothing: https://www.youtube.com/watch?v=yEj_w7zcQ4c

Laura's profile on LinkedIn: https://www.linkedin.com/in/laura-worzella-65288ab/

In this episode, we hear the story of the turnaround of a 100+ year-old institution with Dave Lamb, Chairman, President, and CEO of Michigan's Oxford Bank. Dave shares his background and how it prepared him for his role in leading a struggling community bank, operating under a consent decree, into a growing and thriving institution. The Oxford Bank story demonstrates the overwhelming importance of culture, especially when faced with an existential threat. Dave shares his experience of coming in as an outsider in the middle of a crisis and the path Oxford took through a turnaround and into growth, including the process of discovering the right products and services needed by their customers. Oxford Bank provides a valuable case study for what's required to change the trajectory of a faltering organization.

Highlights:

00:00 Dave's journey to Oxford

04:00 Executing a turnaround at a community banks

14:22 Managing culture during new technology adoption

22:09 Expanding into commercial finance

30:41 Future options in non-traditional services

For more on Dave and Oxford Bank:

Oxfordbank.com

Dave's LinkedIn

While every financial institution has education in its service model, differentiating on financial wellness requires a deliberate and sustained effort. In this episode, we hear from Bree Shellito of Colorado's Ent Credit Union. Bree shares Ent's history and playbook for scaling financial coaching from a small core team to all of their 500,000 members and community touchpoints.

Ent's model for coaching as both a member service and community support

Which 3rd party certifications were most useful to Ent, and how they create their training material

The difference in coaching Ent's own employees vs. their members

How Ent's team is organized, ensuring alignment of incentives and managing the currency or skills across 50 branches and community outreach teams

How Ent customizes their coaching experience and material and then measures success

For more on Ent's programs, visit: https://www.ent.com/education-center/

To join Bree's monthly financial wellness practitioner roundtable, visit here.