Any triggering term under open-end rules, if stated in the positive OR NEGATIVE, triggers additional disclosures!

(In the past, the negative reference only triggered disclosure on HELOC [Home Equity Line of Credit] – now it triggers on all open-end products!). For example, “No annual fee” on a credit card advertisement will now trigger additional disclosure. Many of you routinely state this on your website. So, be sure to check your website and other credit card advertising to see if you want to delete that phrase.

Introductory and Promotional Rates now trigger additional disclosure.

• The word “Introductory” or “Intro” must show in immediate proximity to each listing of the introductory rate.
• For promotional rates, you must state when the promotional rate ends AND the APR after the promotional rate ends.

Remember, too, when you’re advertising HELOC:

• If a promotional rate is advertised, EACH statement of rate must include the period of time and any other rate that will apply (in close proximity and equal prominence to the initial rate – LITERALLY).
• If you advertise that interest may be deductible, you must include, “consult your tax advisor.” However, if the loan amount exceeds FMV of the dwelling, you must disclose non-deductibility of the interest on the excess loan amount.

Bottom line? Remember these three things:

1. Reg Z applies to loans with a consumer purpose. So, when promoting business loans we need to be clear it states businesses – otherwise regulators may assume consumer and require additional disclosure.
2. And, whenever we are advertising loans, don’t assume that just because it was okay in the past it is now … many things have changed since October 2009!
3. There are different rules for closed-end credit vs. open-end credit. So, we need to be clear which type of credit we are advertising so we know which rules apply.

Have a question? Call me! 888.733.4899

— Rhonda

• The word “Introductory” or “Intro” must show in immediate proximity to each listing of the introductory rate.
• For promotional rates, you must state when the promotional rate ends AND the APR after the promotional rate ends.

Remember, too, when you’re advertising HELOC:

• If a promotional rate is advertised, EACH statement of rate must include the period of time and any other rate that will apply (in close proximity and equal prominence to the initial rate – LITERALLY).
• If you advertise that interest may be deductible, you must include, “consult your tax advisor.” However, if the loan amount exceeds FMV of the dwelling, you must disclose non-deductibility of the interest on the excess loan amount.

Bottom line? Remember these three things:

1. Reg Z applies to loans with a consumer purpose. So, when promoting business loans we need to be clear it states businesses – otherwise regulators may assume consumer and require additional disclosure.
2. And, whenever we are advertising loans, don’t assume that just because it was okay in the past it is now … many things have changed since October 2009!
3. There are different rules for closed-end credit vs. open-end credit. So, we need to be clear which type of credit we are advertising so we know which rules apply.

Have a question? Call me! 888.733.4899
— Rhonda

You’ve probably invested a tidy sum on your website, so it’s worth the time to start linking who is using what on your site and identifying when and how efficiency and synergy can be created between websites and other communication channels.

Sounds daunting, but it’s pretty mechanical. Here are three get-started tips:

1. Where’s the beef? Use your web analytics for more than reference. Beef up and improve connectivity to content that’s being consistently accessed. Trim or eliminate pages that don’t add value or create traffic.
2. Function Junction. Folks can open accounts online at Ally®. Make sure they can do the same with you.
3. New mission, new metrics. Slice and dice your objectives (get new customers, deepen existing relationships, etc.) until you have a defined purpose for each of your venues; then, re-evaluate annually.

EXAMPLE: Twitter: track PR events
EXAMPLE: Facebook: leverage corporate citizenship
EXAMPLE: Website: improve current customers’ efficiency

Next, align your metrics with your focused goals. You can’t measure an effort you haven’t defined, and it’s easy to measure one that is.

For years, internet marketing was driven by the corporate website. Today, social media’s break-neck velocity means the sled will move more smoothly by periodically using all the dogs to take the lead based on whether we need strength, agility, competitive advantage or speed.

Remember, when it comes to eMarketing, you don’t want the tail to wag the dog without you knowing it. And, with so much consumer empowerment out there, you need to be able to feed and care for not just the venerable lead dog, but the whole pack.

Want to chat about your eMarketing strategy?

Shoot me an email, I’d be happy to help.

To make the most of this inexpensive and efficient communication tool, fresh content is key. Here are a couple tips to help you leverage your online real estate:

1. Status Updates
   Why it’s important: Status updates give fans a chance to interact with your page. Every time you update your status, it gets posted on your fans’ homepage feeds that they see immediately after login. The objective is to peak the fan’s interest and develop two-way communication.
   How you should use it? Frequently! When you post status updates, it invites interaction. Post community events, promote new offers, spotlight local businesses, offer quizzes, tips or contests!
2. Social RSS
   Why it’s important: Social RSS is a live feed for blog entries or articles, so every time an article or blog is posted to your website, it will automatically be posted to the fan page. The fan can choose to “send” or “share” this article with other friends. This application is a simple tool that can increase exposure to your page and even your bank’s website.
   How you should use it: This is an application on Facebook that you will have to download. Enter some basic information and the rest of the work will be done for you!

Some other considerations when taking the Facebook leap:

• Set an objective for your page
• Have a web banner, profile image, and custom tabs
• Include your compliance – the same rules apply
• Have your social media policy in place prior to launching the site
• Create a team of advocates to help you brainstorm topics, trivia, blogs and content. Get your team involved!

Need some Facebook face-time? Contact us.

MFM Will Cover Social Media at …

• The Illinois Bankers Annual Conference
• The Minnesota Bankers Conference
• The ABA School of Bank Marketing & Management

Contact Us.

More and more people are turning to the internet as their primary source of information, so, how can print media still reach your target audience? We think, and research tells us, that there are some advantages that print media will always have over the internet, which will help keep it alive.

Prospecting: Many marketers look to the internet to find new prospects, but when they realize this route often leads to inconsistent consumers, they rely on direct mail which has a higher percentage of repeat purchasers. Print media has the benefit of an established and faithful readership, and strong target marketing and acquisition capabilities that can reach your audience more efficiently than the internet.

Tracking: To compete with the tracking capabilities of eblasts and online newsletters, the United States Postal Service is offering the Intelligent Mail barcode, which is used to sort and track letters and flats. This will give you detailed information about how and when your direct mail is being delivered. It will offer automatic address correction, which enables greater returns on investment for direct mail campaigns.

Cost & Control: Since we believe print is still an effective tool for you, we’ve developed an online web-to-print solution to better serve your printing needs. MyMillsmarketing.com is a website where you can manage your business cards, letterhead, envelopes, or sell sheets – anything you print routinely And, with personalized, variable printing options you can customize print materials, like direct mail and business cards, to meet your targeted marketing objectives. MyMillsMarketing allows you to place and manage your orders 24 hours a day. You can log on to view proofs, make changes, and you’ll have the final sign off to know exactly what you’re getting, where it’s delivered – and how much you’re spending. And, if inventory storage is a challenge, we can house your materials and you can access them online.

Keeping up with the internet is a difficult task, but using print media along with your presence on the internet, can be an effective tool to reach your audience. Though some of the traditional forms of advertising have changed, print media can still be a decision that is right for your market by reaching out to your customers in a personalized and refreshing way.

We’re proud to have received Best of Show in the Gallery of Printing Excellence from the Midwest Printing and Graphic Association (MPGA) for the Colony Bank Corporate Profile Brochure, printed by Acme Printing Co., in Des Moines, IA. This award demonstrates our ongoing commitment to outstanding quality, and long-time partnership with Acme Printing.

View entry.

We can produce customized solutions for you!
Here are Reg E communication elements we can and are providing to clients:

1. Staff Training (download PDF sample)
2. Video clips for home page and specified landing pages
3. Customer eblasts, segmented to checking patronage patterns
4. POS materials
5. Segmented customer direct mailers
6. Scripts
7. Employee incentives
8. Feature stories for local media

Contact us today!

For many organizations the question about utilizing social media is not “if,” but “when” – and “how.” How do we know it’s right for us? How do we choose which vehicles? What do we say? How do we manage and measure it… and finally, how do we get started?

Frankly, those questions must precede the budgeting process. But, if you’ve already worked through those issues, and are comfortable delving into this fast-growing area, you won’t be sorry. But, you have to plan ahead and be smart about it.

So, how do you accurately budget for this new endeavor? It’s tricky. While there are costs associated with the adoption of new technologies and tactics, the best way to minimize cost is to spread responsibility among existing staff, designate centers of expertise, and adopt popular, off-the-shelf tools.

If hiring a specialist on staff will help your organization embrace these new tools of customer conversation, then go for it. However, have a transition plan for that position when social media evolves into one of the many ways in which you communicate regularly with your customers.

Another piece to consider is technology. Does your website need an overhaul to make this work? Will you need additional programming — audio, video, more? And, of course, you need to set aside marketing dollars to promote this new venture. For now, and until social media is just another communication piece in an integrated marketing campaign, to ensure success you must dedicate time and effort to building and maintaining your fan base.

After cost-estimating your staffing, education, technology and marketing issues, creating a budget line item is a wise move. How exactly you do that will be different for every organization. At MFM, we believe social media can be used to effectively supplement the areas of education, public relations, product development, community giving, and overall campaign support, and, because of that, can be divided among those areas. Or, if you’re just getting started, adding a social media line item might work best.

And, although there is no standard budget number that can be applied industrywide, we can safely say that if you allocate 8-10% of your total marketing budget, you would be aligning with the national norms. Or, take our poll to see what others in your asset size are doing.

Whatever direction you decide to go in 2010, exploring the power of social media to connect with your customers on a whole new level will be a strategically valuable move. You’ll not only be stepping up your communications efforts by adding another effective and low-cost dimension, but you’ll be positioning yourself for effective communication with future generations. And, if you need help building a social media budget, or developing and executing a strategy, MFM can help. We can provide you best practice case studies, and research-based recommendations.

As Greg Icenhower, Vice President of Proctor and Gamble Corporate Communications so aptly said, “We were the biggest shouter in the 20th Century. In the 21st Century, we want to be the best listener.”

» Join Us!

Presentation Title:
Turn Your Branch Events and Promotions Into Bottom-Line Success — On Budget

Session Overview:
During challenging economic times, banks have the opportunity to seize a competitive advantage if they:

• Realign sales force utilization and incentives to generate additional short-term revenue
• Revitalize customer retention initiatives
• Reallocate marketing spending toward immediate revenue generation

All of these recession-sensitive initiatives can — and should — be executed where the rubber meets the road — at the branch level.

From retail share of market to small business deposits and cash management, branches offer targeted venues to keep and grow customers.

And, at a time when you’re challenged to do more with the same or fewer resources, leveraging the knowledge and customer relationships of your branch teams is critical. The good news is that opportunity at the branch level is significant, with 60%* of us consumers coming into a branch to do business every month.

Takeaways:
This session will give you 10 low-cost, tested and measured initiatives to take back to your bank and implement, as well as a comprehensive case study that is springboarding a community bank into regional prominence. We’ll also emphasize cost-saving options and offer “after the campaign” action steps to build more robust — and profitable — customer relationships.

Speakers:
Becki Drahota, EMBA, President, Mills Financial Marketing
Jan Knock, Marketing Director, Iowa State Savings Bank, Creston, Iowa

*Raddon Spring 2009