PRESIDENT’S MESSAGE Sharing a Pro-Banking Message With All Ages Richard J. Baier, President and CEO, Nebraska Bankers Association One of the most rewarding activities that is part of my role at the NBA is visiting with K-12 and college students and educators. These interactions often include a presentation highlighting the size and scope of the Nebraska banking industry, an overview of NBA priorities and industry advocacy and, finally, touching on issues that keep bankers awake at night. Discussions about the current issues confronting the industry always seem to garner the most student and educator attention, specifically, the issue of non-bank competition. Bankers recognize that non-bank competition comes in many forms, ranging from the tax-subsidized Farm Credit System (FCS) and credit unions (CUs) to online and privateequity lenders. New digital asset or cryptocurrency companies could also be included in this mix. During our discussions, it is clear that students and educators have little or no understanding of the capital and regulatory disadvantages between Nebraska banks and non-bank competitors. “That’s not fair,” is the typical reaction to these conversations. We clearly agree! The reoccurring pro-banking message I try to communicate to students and educators is that Nebraska banks operate in almost every community in the state, unlike many non-bank competitors, FCS in particular. Many are increasingly moving to large, regional lending offices and a virtual presence and abandoning a local footprint or representation. Nebraska banks are community and customer-driven and partners in local communities. This was exemplified by the banking industry’s efforts during the Paycheck Protection Program. Conversations about the tax-subsidized FCS and CUs are often the favorite part of my interactions with students and educators. Outside of the occasional college student, very few in the audience understand that FCS and CUs do not pay their fair share of the tax burden. This conversation is even more fun to have with educators who are discussing the lack of tax support for their local districts yet conduct their financial services through an educator/educational credit union. At the college level, I frequently discuss how the state of Nebraska uses state tax dollars to offset approximately 50% of the tuition costs for students enrolled in a public college or university. Nebraska banks contribute to higher education support via payment of NEBANKERS.ORG 8
RkJQdWJsaXNoZXIy MTU2Mjk4Mw==