ICBA Statement on Mutual Savings Association Advisory Committee Charter Renewal

Washington, D.C. (July 20, 2022) — Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement regarding the Office of the Comptroller of the Currency’s renewal of the Mutual Savings Association Advisory Committee charter.

“ICBA and the nation’s community banks commend the Office of the Comptroller of the Currency for renewing the charter of its Mutual Savings Association Advisory Committee, which advises the agency on issues and opportunities facing mutual savings institutions.

“Mutual institutions — which were established and are maintained for the benefit of their communities, depositors, and borrowers — are a valuable source of input to the OCC. Renewing the MSAAC charter will help the OCC support the important role of mutuals in serving local customers and communities.”

About ICBA

The Independent Community Bankers of America® creates and promotes an environment where community banks flourish. ICBA is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education, and high-quality products and services.

With nearly 50,000 locations nationwide, community banks constitute roughly 99 percent of all banks, employ nearly 700,000 Americans and are the only physical banking presence in one in three U.S. counties. Holding nearly $5.9 trillion in assets, over $4.9 trillion in deposits, and more than $3.5 trillion in loans to consumers, small businesses and the agricultural community, community banks channel local deposits into the Main Streets and neighborhoods they serve, spurring job creation, fostering innovation and fueling their customers’ dreams in communities throughout America. For more information, visit ICBA’s website at www.icba.org.

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