Jonestown Bank & Trust Co.
Fighting fraud with ICBA’s help
Thanks to ICBA, Jonestown Bank & Trust Co. (JBT) in Jonestown, Pa., helped a customer avoid HELOC check fraud, which in turn saved the community bank $65,000.
In July, Troy A. Peters, president and CEO of the $930 million-asset community bank, had just received and circulated ICBA’s daily NewsWatch Today email, which highlights current topics and updates on important issues. The email covered how criminals were pulling mortgages from online courthouse records and using the information—such as the account number, property address and owner’s name—to manufacture counterfeit checks.
The next day, that exact situation happened to one of Peters’ customers. JBT was able to stop the fraud, but the close call prompted the bank to change its process. “We’re no longer putting account numbers on documents that are filed publicly,” Peters says. “That scenario right there paid for my ICBA membership for several years.”
In addition to staying abreast of current industry issues, Peters says the advocacy work ICBA does has been particularly helpful for both JBT and his personal growth. He admits that he didn’t always think that advocating for community bankers was part of his job.
But with ICBA’s support, going to Capitol Hill and speaking with legislators has become second nature.
“Now, I do see it as my responsibility to help protect our customers and our industry,” says Peters, who currently serves on ICBA’s digital assets committee, engaging in grassroots activities in Pennsylvania to advocate pro-community bank policies and serving as a liaison between community banks and ICBA leadership in Washington, D.C. “There’s no better advocate for our industry than ICBA.”
Bank of Cattaraugus
Supporting small bank independence
ICBA membership means that $29 million-asset Bank of Cattaraugus can continue to prioritize what it does best. “Staying here in the community and doing a good job is our focus,” says Colleen Young, president, CEO and chairman of the board at the Cattaraugus, N.Y., bank.
As the third-generation president, Young is proud to maintain the one-branch footprint that has defined Bank of Cattaraugus since it opened 142 years ago. But being a smaller bank has its challenges when it comes to accessing certain resources and making its voice heard.
on the benefits available to ICBA members, visit icba.org/membership
That’s where ICBA has stepped in to fill the gap. “It’s in my blood to continue to keep Bank of Cattaraugus as an independent community bank, and ICBA has been an integral part of our fabric, advocating for us to remain independent,” says Young. “We don’t have the manpower, and the advocacy that ICBA does on our behalf is priceless to us.”
Through its membership, Bank of Cattaraugus has also been able to tap into ICBA’s network of vetted vendors and training sessions without having to leave the community it serves. “It’s really hard to send a junior loan officer off to training when we are only a staff of eight people,” says Young. “So, getting quality training where we can log in from here is really helpful to us.”
No matter the size of a community bank, Young notes that ICBA membership has something for everyone. “I firmly feel that all independent banks should be members of ICBA,” she says. “It’s a no-brainer: the advocacy, the training, the networking and the lifelong friends you make who really care and don’t want to compete against you but help you along the way. It’s fabulous.”
What does ICBA offer you?
Through ICBA, members can access vital resources that work for all community banks. Find out what’s available to you and how you can use these benefits to your advantage.
Education (icba.org/education):
Whether it’s compliance, tech or marketing, ICBA members can browse through and attend informative webinars, in-person events and certification opportunities on the topic of their choice.
Advocacy (icba.org/advocacy):
ICBA serves as the voice of the community banking industry and leads grassroots action. In addition to communicating to members about legislative and regulatory issues and updates, the association presents opportunities to speak directly to Congress members through its in-person Capital Summit event and its Virtual Advocacy Primer toolkit.
Innovation (icba.org/innovation):
ICBA Innovation connects community banks with a variety of vetted third parties, via the ICBA Solution Directory of knowledgeable vendors and the ICBA ThinkTECH Accelerator, which identifies and fosters community bank-enabled fintech partnerships.
Marketing (icba.org/innovation/tools/marketing-toolkit):
From social media to video and print advertising, ICBA has customizable marketing and communication assets in both its National Campaign Toolkit and Marketing & PR Toolkit.
Fraud mitigation (icba.org/fraud):
ICBA’s communications team broadcasts updates on fraud trends and mitigation tools. For example, with check fraud being a growing problem for banks and their customers, ICBA has established a member guide and check fraud task force dedicated to protecting community banks from bad actors.
