Independent Banker - October 2021 - 7

FROM THE TOP
" Educated customers form
stronger relationships with their
community banks. They are
more likely to repay loans, live
within their means and maintain
higher balances. "
Robert M. Fisher
Chairman, ICBA
Robert Fisher is president, CEO
and chairman of Tioga State Bank
in Spencer, N.Y.
W
hen I first came into
community banking, I quickly
learned that our jobs are as much
about education as they are about
finance. While community bankers
have deep knowledge of financial
topics, most people don't have that
background. Statistics support that
sentiment: The National Financial
Educators Council reports that on
the U.S. national financial literacy
test, the average score hovers
around 68%.
To this day, financial literacy is
a passion of mine. Our philosophy
at Tioga State Bank is to coach our
customers into better financial
standings. There are times when
we have to turn people down for a
loan for any number of reasons, but
we go the extra mile to make sure
they understand why they are being
declined and what they can do to
remedy the situation.
While those are hard conversations,
they're worth having because they
can help transform people's financial
situations. In fact, I've had customers
come back and thank me for saying
no. After they gained a better
understanding of their financial status,
they realized they weren't in a position
to take on more debt. Our honesty
helped protect them from some
potentially dire consequences.
We also have had many cases
in which a customer applied for a
mortgage that was initially declined,
but they followed our advice and
qualified to purchase a home a year
later. It's rewarding to help a customer
strengthen their financial position and
accomplish a goal in the process.
Educated customers form stronger
relationships with their community
banks. They are more likely to repay
loans, live within their means and
maintain higher balances. They
My Top Three
The primary things
I look forward to in
autumn include:
1. Fall foliage
2. College football
3. Apple pie
understand the importance of
saving for retirement, education
and other big-ticket efforts. They
are less likely to fall victim to fraud,
or they will catch it sooner because
of regular balance checks. And they
are loyal customers, particularly
if you support their positive
financial journey.
In my mind, financial literacy
serves as the basis for all we do. As
we address more complex topics
like cybersecurity and financial
planning, both of which are
highlighted in this issue, it pays
to have built a strong foundation
with our customers. Being armed
with that baseline knowledge helps
them to better prepare for their
financial futures.
So, I encourage you to consider
partnering with your local schools
or offering webinars or lunch-andlearns
to help educate current and
future customers.
As community banks, we strive
to build better communities.
Helping consumers and businesses
strengthen their financial well-being
is critically important to achieving
that goal. 
Connect with Robert @RobertMFisher
independentbanker.org Q 7
Photo by Heather Esposito
http://www.independentbanker.org
Independent Banker - October 2021

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