SDBA eNews

January 26, 2023

SDBA Hosting First Women in Banking Virtual Power Hour

The SDBA is hosting a new event: a Women in Banking POWER HOUR (and a half) to be held virtually on March 9 from 3:30 - 5:00 CST. We hope you can join us to connect, collaborate and catch up!

Melissa Eich, RN and founder of Melissa Eich Coaching is our guest speaker, and she will help us focus on changing our mindset. We'll also talk about the 2023 Women in Banking event and have the chance to network with friends and colleagues. For details and to register for this FREE event, click hereRegistration is required to help us manage our Zoom account. 


Bankers in Action Wanted! 

Banks are the cornerstones of communities, giving back in a variety of ways. From volunteer leadership to donating time to charitable causes and supporting organizations through financial gifts, banks succeed when the communities they serve succeed. We’re proud of your reinvestment and commitment to keeping your community’s pulse thriving, so we want to give you the opportunity to showcase how your organization has helped your community in 2022.
 
As part of the 2023 SDBA/NDBA Annual Convention in Sioux Falls, we will showcase six banks that have found creative ways to meet the needs of their communities and help transform lives. The six selected organizations will have five minutes on the convention agenda to share their unique and innovative “Bankers in Action” project, with the goal to inspire colleagues as we all answer the question, “Where to Next?”

Click here to apply


Bolder Banking Scholarship Application Deadline February 15

As a co-sponsor of the Graduate School of Banking at Colorado (GSBC), the South Dakota Bankers Association has partnered with GSBC to recognize community banks across South Dakota for their innovative approaches to serving their customers and communities with a new, nomination-based scholarship.

The scholarship is called the Bolder Banking Scholarship and is an extension of GSBC’s Bolder Banking campaign launched in April 2022, which aims to highlight bold leaders in the community banking industry by sharing innovative information and ideas with fellow bankers. The Bolder Banking Scholarship will afford the SDBA the opportunity to recognize and reward our member banks displaying innovative approaches to banking. GSBC will fund the scholarship for a rising star within the recipient bank to use toward tuition at GSBC’s Annual School Session. There is one of these bank-wide scholarships to give annually.

To submit a Bolder Banking Scholarship nomination for your or another bank displaying innovative, out-of-the-box initiatives, complete the nomination form by February 15, 2023. The recipient bank will be decided on by March 1. Go to www.sdba.com/scholarships to learn more and submit an application. 


Sponsorships Available for FBLA State Leadership Conference

The South Dakota Future Business Leaders of America is hosting their State Leadership Conference on April 3-4, 2023. The organization is seeking sponsorships for their event. Partnership and exhibitor opportunities include the following: 

  • Contest and Scholarship Sponsors
  • Meal Sponsors
  • Opening and Awards Ceremony Sponsors
  • Shirt Sponsors 
  • Exhibitors
The deadline to sponsor is March 15, 2023. Click here to learn more


Join the SDBA in Washington, D.C. at the Washington Summit

The 2023 ABA Washington Summit and Forums will be held March 20-23 at the Marriott Marquis in Washington D.C. To maximize banker participation, this will continue to be offered as a hybrid event without registration fees. To register (in-person or virtually), secure your accommodations and view the program, please visit aba.com/summit.

The SDBA is currently planning to attend the Summit and would like to invite you to participate as well. Join us as we hear from top-notch speakers, connect with our congressional delegation and dine with our friends at the NDBA. You won’t want to miss this opportunity to engage on multiple levels. 

The Washington Summit is the opportunity for you and your peers to advocate for the changes America’s banks need to better serve their customers, form and build relationships with lawmakers and unite our industry’s voice on Capitol Hill. Our collective voice is critical as we educate policymakers on the important role banks play in economic growth and job creation.

Find more information and register at www.aba.com/training-events/conferences/washington-summit


ABA Foundation Launches 2023 Financial Education Campaigns, Three-Year Initiative to Reach 5 Million Americans

The American Bankers Association Foundation today launched its 2023 financial education campaigns, calling on America’s banks and their more than two million employees to participate in these important industry programs and help more consumers achieve long-term financial stability. It also announced a three-year industry-wide commitment to reaching five million Americans with financial education courses through its campaigns.

The ABA Foundation offers four national initiatives designed to equip banker volunteers with the tools necessary to share essential financial knowledge in their local communities. In 2022, more than 700 banks participated in one or more Foundation programs. This year, the Foundation will roll out new program resources and guidance centered around its theme of protecting your financial future. The 2023 programs aim to help consumers access pathways toward financial success by empowering youth to invest in their future, promoting awareness about scams targeting people of all ages and helping older Americans plan for financial caregiving. All of the Foundation programs are completely free to both ABA member and non-member banks. Those programs are: 

“By sharing financial education lessons with Americans both young and old, banks can help consumers build pathways toward a more secure and stable financial future,” said Rob Nichols, ABA president and CEO. “That’s why we are encouraging banks across the country to participate in the ABA Foundation’s 2023 campaigns and help reach and educate 5 million Americans within three years.”

Teach Children to Save

The ABA Foundation’s signature initiative, Teach Children to Save, now in its 26th year, is a national campaign that encourages bankers to educate local K-8 students about money and real-world financial concepts through classroom presentations, virtual lessons, social media engagement and other outreach efforts. The ABA Foundation continues to bolster its program materials with versatile resources that can be leveraged for a range of learning environments. 

While Teach Children to Save Day is celebrated on April 27, bankers are encouraged to promote financial education throughout the year. 

Get Smart About Credit

Get Smart About Credit is a national program that helps bankers equip teens and young adults with personal finance knowledge and encourages the exploration of careers in banking. This year, the ABA Foundation will roll out new content on various scams targeting teens and young adults with tips on how to stay safe. Though the campaign is celebrated annually on the third Thursday of October, bankers are encouraged to give presentations and spread awareness throughout the year.

Safe Banking for Seniors

In addition to its youth financial education initiatives, the ABA Foundation also offers a collection of resources, including workshop materials, videos, social media content, guides and handouts, to support elders and financial caregivers as a part of its Safe Banking for Seniors program. Safe Banking for Seniors, led by banker volunteers nationwide, helps older customers, their families and caregivers understand and mitigate the risks of fraud and financial exploitation.

Curricula for Teach Children to Save, Get Smart About Credit and Safe Banking for Seniors are available in both English and Spanish.

Lights, Camera, Save!

Lights, Camera, Save! is a national video contest that encourages teens to create a video up to 30 seconds long that demonstrates the importance of using money wisely, with a particular focus this year on protecting one’s financial future. The contest kicks off in August with individual banks hosting local competitions and is open to teen filmmakers of all experience levels. The national grand prize winners will be announced in November and are eligible to win up to $5,000. The public will help narrow the field of competitors via Instagram in the first round of national judging.

“Today, our communities face many challenges, including economic uncertainty and inequities,” said Lindsay Torrico, executive director, ABA Foundation. “Our year-round financial education campaigns, new consumer resources, and partnerships with community organizations and government agencies will allow us to help banks meet the moment and empower our industry to build thriving, equitable and resilient communities.”

Bankers can register for ABA Foundation programs for up to two years and receive turnkey resources, real-time customer support, ready-to-use promotional and communication materials. Again, there is no cost for banks that register to participate in any of the Foundation programs. Bankers interested in learning more about the Foundation programs are invited to join a free informational webinar on Feb. 22 at 3 p.m. ET.

The ABA Foundation also offers a free web connection tool, FinEdLink, that can match community groups, senior centers, schools and other organizations with local bank volunteers willing to share financial education lessons. Groups interested in having a banker make a presentation can simply submit a free request at aba.com/FinEdLink to be paired with a local volunteer.

This year, the ABA Foundation’s financial education programming is generously sponsored by Ally, Bank of America, Citi, Chase, Truist, and Wells Fargo.

Interested banks can register at aba.com/FinEd or call 1-800-BANKERS for more information.


CISA News: Blueprint of a Phishing Attack

It would be helpful if content from threat actors came with a flashing red flag. Unfortunately, phishing attempts are better crafted than we'd like to believe. Cyber threat actors are well versed in manipulation and well-crafted techniques to fool unsuspecting users. When a user falls for a phishing message, the attacker achieves their purpose. 

Phishing messages can appear in a variety of formats to collect personal information, steal account credentials, or install malware on a user’s device. Let’s take a look at some examples that highlight how to identify messages as phishing attempts and hopefully thwart this pathway for cybercriminals.

Read the article here.


  Compliance Alliance logo

QUESTION OF THE WEEK

Q: What are the beneficial ownership requirements for non-profit business customers? Are these organizations exempt from beneficial ownership? 

A: If your customer is an incorporated, non-profit entity then they are not exempt from beneficial ownership requirements but you only need to identify the control person. You do not need to identify beneficial owners based on ownership. See Section 1010.230 at

https://www.ecfr.gov/current/title-31/subtitle-B/chapter-X/part-1010/subpart-B/section-1010.230#p-1010.230(e)(3)

"3) The following legal entity customers are subject only to the control prong of the beneficial ownership requirement: ...(ii) Any legal entity that is established as a nonprofit corporation or similar entity and has filed its organizational documents with the appropriate State authority as necessary."

Compliance Alliance offers a comprehensive suite of compliance management solutions. To learn how to put them to work for your bank, call (888) 353-3933 or email [email protected] and ask for our Membership Team.

For timely compliance updates, subscribe to Bankers Alliance’s email newsletters.


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