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Community Banks shared the same basic beginning. They were typically founded by influential community leaders with good reputations and local credibility that was leveraged for growth. Today they are experiencing the same economic challenges as every other bank.
Costly compliant regulations… increased deposit costs squeezing their NIM… increased expenses created by unplanned mandatory technology investments… increased competition from online competitors… and finding effective and affordable solutions to increase their core deposits.
With growth they transformed from a community bank into a communities bank that brought new challenges of serving multiple and diverse geographic, demographic and socio-economic audiences.
Segmentation marketing is a proven strategy and the most effective and affordable solution to address a community or communities banks challenges and to increase core deposits.
Our handy guide offers proven methods to increase core deposits as well as commercial and retail loans. With the help of SGW’s segmentation marketing program, community banks throughout NJ have increased their volume of business with existing customers, developed many new customer relationships and outsmarted their competition.
This guide is a roadmap for the success of community banks!