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Recent business news headlines have made
all too clear the importance of having an effective internal audit
program and the necessity to separate internal audit functions
from external audit functions.
In a cost effective manner, Community Bankers'
Bank is prepared to help you manage your risk with our unique
Internal Audit Consulting Service. Rather than go to the significant
expense of hiring your own internal audit or contracting with
a third party, why not use our experienced bank auditing team
to evaluate your policies and procedures and ensure your compliance
to the many complex banking regulations under which your institution
operates.
Our audit of your institution encompasses bank
operations, lending, administration/finance, and data processing/information
systems. In each area, we review and test to make sure:
- The system of controls reasonably safeguards
your assets
- Information is timely, reliable, and confidential
- Established policies and procedures are being
followed
- Errors and irregularities are detected and
promptly corrected
Benefits of outsourcing your internal audit program
to Community Bankers' Bank are:
- The program will be designed specifically
to meet your needs as identified in the consultative self-assessment.
- Our team of consultants has significant bank-specific
auditing experience.
- We are minimally intrusive when we are visiting
your institution
- Our service costs significantly less than
having an internal auditor on staff
- Compensating balances can be used to offset
fees.
- Fees for Community Bankers' Bank shareholders
are substantially discounted
- A well-structured internal audit program
will improve your operating efficiency and reduce the cost of
external audits.
- We have easy access to regulators and an
extensive library of audit and regulatory materials.
This service will generate a new source
of fee income, reduce operations expense, earn the loyalty of
existing commercial customers, and attract new business customers
to your bank. Yes, it sounds like it is too good to be true, but
many banks both large and small already use this service and are
completely satisfied with the results.
You market Electronic Check Representment
(ECR) to your commercial customers who accept checks as payment
for goods and services they sell. A merchant using ECR no longer
needs to ask you to represent an NSF check in the traditional,
time consuming, paper based manner. Using the Internet, you create
an ACH version of the check that is electronically presented for
payment. This electronic representment process takes from 3 to
5 days on average, rather than the 7 to 10 days it takes to represent
a paper check.
Your commercial customers experience significant
benefits:
- Increase their cash flow through more
timely collection of NSF checks.
- No longer waste valuable time attempting
to collect a “bad check” fee.
- Recover checks represented electronically
at a 25%-35% higher rate than that associated with the traditional
representment practice.
- Electronically submitted checks
are paid before paper checks.
- Electronically represented checks
can be submitted an additional time (the original presentment
plus two representments).
- Schedule representment for “Smart
Dates” – days on which the account the returned
check is drawn on is most likely to contain sufficient funds.
- Have funds associated with collected
checks electronically deposited into their accounts at your
bank.
The benefits to your bank are equally compelling:
- Use ECR as an effective marketing tool
to retain existing business customers and attract new ones.
- Reduce the costs associated with paper
check representment.
- Replace an insignificant revenue stream
of small representment charges that “disappear”
in the analysis process with a substantial revenue stream of
“hard dollar” fees from collected checks.
Enables a bank’s commercial clients,
both large and small, to accept credit and debit cards for payments
at their place of business. A successful merchant processing program
can be an enhancement to a bank’s commercial client calling
efforts as well as a source of continuing fee income for your
financial institution. Our Merchant Card processor offers an “agent
bank program” that allows you to have program flexibility
and can meet your strategic plan and risk management strategies
while still allowing the bank ownership of your valued merchant
at the end of the contract period. Our processor offers a “no-liability”
program.
- Offers initial training on products,
sales, equipment and pricing.
- You control pricing for your merchants
on an individual basis so you can be competitive in your market.
- Offers on-going training, sales assistance,
and marketing materials to support your marketing effort.
- Provides you with portfolio monitoring
tools.
- Does not compete against you for the
merchant business.
- Offers clear, concise reporting available
online for both you and your merchants.
- Has 24/7 toll free support and service
for your merchants.
- Offers a hyperlink that can interface
with your website
An agent bank credit card program can add
value to your institution by providing additional product offerings
to both consumer and commercial clients as well as providing fee
income for your bank.
- Our Processor offers a full range of
credit cards with competitive interest rates and benefits to
reach a broader base of your bank’s consumer and business
clients.
- Allows your name to be displayed on
your credit cards.
- Offers a turnkey program with no risk
or liability for your bank as well as a liability program which
offers more risk but also offers more opportunity for higher
revenues.
- Offers a 24/7 toll free service and
support
- Offers a hyperlink that can interface
with your website
Community Bankers' Bank, with years of
professional banking experience and focus on providing community
financial institutions with basic banking services in a highly
personalized context is a valuable resource for start-up institutions.
Community Bankers' Bank provides a full range of services for
De Novo banks. Because our Directors manage community banks, we
identify, implement, and market products and services focused
on saving you money and generating significant income. We help
you maintain a competitive advantage in your market.
Community Bankers' Bank can serve as Escrow Agent
for De Novo’s. We will accept and hold documents and financial
instruments on your behalf. In addition, we can invest the funds
you collect into Fed Funds, repurchase agreements, or U.S. Treasury
securities in order to maximize the interest you earn. Acting
as your Escrow Agent is a free service!
Community Bankers' Bank provides loans
to De Novo bank Directors and Officers because we understand how
to value the new bank or bank holding company stock that is often
used as primary collateral. We have the capability of providing
interim financing for a new bank’s facilities and the land
on which they are to be built, as well as organizational lines
of credit. Community Bankers' Bank can meet virtually any need
a De Novo bank may have.
Coming Soon!
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