Independent Banker - April 2023 - 73

banks increased from 65% to 75%
" Community banks use customers'
deposits to support local businesses and
ventures. We don't take money from one
place and ship it out to someplace else ...
We just keep it all local. "
-LUCAS WHITE, FOUNTAIN TRUST COMPANY
data and includes market research,
creative advertising, public relations
and social media strategy. ICBA
members themselves are also a
key part of the campaign, namely
by making use of the National
Campaign Toolkit, which includes
campaign research learnings,
advertising, public relations content
and more.
To reach millennials, Birgfeld says
community banks must establish
a strong foundation of market
knowledge. " First, we know we
have to drive greater awareness
[about community banking], " he
says. " And that starts with gauging
our success every step of the
way-what messages connect with
our audiences, where we connect
and what strategies help to create
a movement. "
ICBA aims to continue the
campaign, with each initiative being
refined in reaction to what drives
awareness, interest and eventually
attracts new customers. " By passing
insights from this campaign to our
members, ICBA will help community
banks' collective voice-whether via
national or local outreach-to reach
a broader audience, " Birgfeld says.
Why millennials?
What makes millennials a valuable
market for community banks? As
the largest generation, at 72 million
people, millennials make up 43%
of homebuyers as of 2022 and will
comprise 75% of vehicle purchases
by 2025. Millennials also value banks
that support local communities-46%
note it as one of the most important
characteristics of a perfect bank.
" Community banks use customers'
deposits to support local businesses
and ventures, " says Lucas White,
ICBA vice chairman and president of
$700 million-asset Fountain Trust
Company in Covington, Ind. " We
don't take money from one place and
ship it out to someplace else ... We
just keep it all local. " Knowing this
basic fact about the community bank
mission could convince millennials to
move their money from megabanks.
Findings so far
ICBA ran a pilot campaign to test
its messaging and creative assets to
reinforce the efficacy of a campaign
by ensuring such messaging could,
in fact, increase the awareness and
perception of community banking.
The pilot found:
 The understanding of the term
" community banks " in participants
went from 65% to 79% after
the pilot
 Positive attitudes for community
 After seeing the campaign
elements, 75% of non-customers
expressed interest in learning about
locally owned community banks in
their area
" Millennials are in that stage of
their life where they're making a lot of
important decisions around finances,
setting up retirement plans, buying
life insurance, buying a home, buying
a car and saving for college, " says
Sarah Getzlaff, ICBA treasurer and
CEO of $240 million-asset Security
First Bank of North Dakota in
Bismarck, N.D. " All of the things that
we can provide are things that they
are searching for. "
The big picture
ICBA's leadership identified this
consumer-facing campaign as an
expansion of its mission to create
and promote an environment
where community banks flourish,
ensuring the continued success of the
community banking industry.
" The goal of this campaign is to
tell the story of community banks,
but also elevate consumer awareness
and appreciation of what community
banks do, " says White. " If community
banks across the country can spread
the word about [their efforts] and
get more people to understand the
benefit of doing business with their
community banks, then community
banks are going to flourish even more
than they are today. "
Birgfeld agrees. " The key
differentiators of community banks
are what sets them apart from other
financial institutions, " he says.
" Consumers need to be educated so
they understand there is a choice to be
made-and this is our opportunity. " 
Rachel Hatcher is associate editor of
Independent Banker.
independentbanker.org // 73
http://www.independentbanker.org
Independent Banker - April 2023

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