Continued on page 6 At our recent 128th Annual Meeting and Convention, I was given an opportunity to speak, and I chose to highlight all we have accomplished together over the past six years. Because our organization is member-driven and member-inclusive, ALL should be aware of our successes. I have therefore decided to use this space to share an excerpt of my comments: Your Association continues to perform well and is financially strong. We continue to be successful by focusing on improved operational efficiencies, reduced and controlled overhead expenses, and a renewed attention on the for-profit subsidiary. Successes in each of these areas resulted in board approval to decrease the 2021 dues assessment rate by 10%, as well as a $5,000 reduction in the dues cap, or the maximum amount of dues paid by any member bank. We continue to work toward further dues reductions as we move forward. Operational efficiencies were realized in 2019 when we moved from an in-house IT system to an outsourced managed service solution allowing staff to focus attention on our core objectives of professional development, President’s Message Association Focus advocacy, and communication. The IT vendor selected through an RFP process has the experience and depth to deliver what we need to not only keep our operating systems protected and performing well but also allow us to operate more efficiently, both in terms of work processes and costs. Similarly, we have identified a better solution to help with Association management and add value to our organization by creating efficiencies in workflows. This new tool will help us to better focus on increasing member engagement and identifying opportunities for non-dues revenue. We plan to migrate to that system later this year. Because the new solution will allow us to discontinue existing vendor contracts, we will be able to save almost $8,000 per year, representing 5% of total operating expenses. Overhead expenses were reduced in 2017 when we relocated our offices, saving almost $30,000 per year, and By Sally Cline, President and CEO, WVBA Pub. 13 2022 I Issue 3 Fall 5 West Virginia Banker
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