The deposit market, which had been remarkably dull and easy to overlook for over a decade, continues to deliver new twists. The latest shot across the bow comes courtesy of Apple and Goldman Sachs – in the form of a savings account with a 4.15% annual rate and no minimum balance.
Topics: Vendor Contract Negotiation, Bank Vendor Management, Credit Union Vendor Management, Deposits, liquidity, Apple Savings
We were already seeing banks and credit unions step up efforts to attract and retain deposits before last month’s bank fallout resurrected discourse about the importance of liquidity.
Financial institutions of all sizes are doubling efforts to hold onto depositors while serving people who have moved their accounts from Silicon Valley Bank, Signature Bank, and others. Deposit balances have become a hot topic – the Independent Community Bankers Association just announced that it would be a focus of its next fintech accelerator season.
Topics: Vendor Contract Negotiation, Bank Vendor Management, Credit Union Vendor Management, Deposits, liquidity, Checking Accounts
Bankers began arriving at the Independent Community Bankers of America’s annual convention eager to discuss a broad range of strategies for navigating 2023.
The fact that the conference was held in Hawaii – a destination that was scrapped a couple of years ago because of the pandemic – was a cause for optimism despite several headwinds.
Topics: FDIC, Deposits, Community Banks, liquidity, Assessments