There Are Hidden Opportunities In Banker Associations
Most people in business realize at some point that success in business is a little bit like alchemy. On the one hand, there are hard, logistical factors at work that have a definite impact on the likelihood of success. How much seed money is available in investment, or how cost-effective spending is on labor and infrastructure all have measurable impacts on business success.
But for every cold, logical factor that has a measurable impact, there are plenty of abstract or intangible choices that be just as vital, but far less easy to measure. The charisma of an executive, for example, can win confidence from investors. The ability to take advantage of social networking, while seemingly unrelated to business, is the origin of famous adages like “It’s not what you know, it’s who you know that matters.”
Banks may often be viewed as only places to go for storing funds or asking for loans, but since the banking system is at the heart of finance, getting access to bankers association members lists can be extremely helpful.
What Is A Bankers Association?
A banking association, as the name implies, is an organization that is focused on ensuring the smooth operation of banks by allowing members of the association to professionally and socially network, sharing information, disseminating crucial economic data, and allowing people trade data and resources within a framework that understands the nature of their work, and how important it is.
The oldest and largest bankers association in the United States is the Americans Bankers Association or ABA. It is a 19th century institution, first created in 1875 as a response to the “Panic of 1873,” when the depression hit both Europe and the United States. A banker, James Howenstein of St. Louis, Missouri, found his bank in a desperate situation of having only a few hundred dollars in cash funds present, while millions of dollars needed for multiple deposits. Howenstein fell back on an informal network of professional associates and peers within American banking to help him ride out his crisis. When he realized how invaluable that organization and teamwork had been in keeping his bank afloat, he decided a formal organization would benefit American banks.
Today, the ABA is the oldest but not the only banker association in the USA. There are numerous smaller associations, operating at state and even county or municipal levels. There are even associations that serve specific interests such as the national level Consumer Banking Association or CBA, that services the retail sector for lending and other financial products.
Why Do Bankers Associations Matter?
Bankers associations are essential for several reasons. Few businesses will be able to operate without any assistance from a bank, especially in the area of loans. As much as companies may rely on investment, loans, and, of course, maintaining business bank accounts, they still account for a significant component of a company’s financial lifestyle. Failing to know or understand a bank and its support function to business can lead to severe vulnerabilities in the way a business operates.
Bankers associations have a vast range of different people and groups of influence. Your own bank is doubtless a member of one or more banking associations, as are other financial institutions that may be of relevance to your business, either as a partner to work with, or even a potential client if your products or services can benefit the banking sector.
Who Is A Member?
Obviously, banks themselves are expected members in a bankers association. Groups like the ABA do not discriminate by size, so even small local banks can apply for and receive membership in the ABA. Trusts are another organization that can apply for ABA membership as well. Of course, with a name like “Consumer,” the Consumer Bank Association has some overlap with the ABA. However, the focus here is on banks that service the general public as well as smaller operations like small businesses.
Beyond that, however, there is an associate membership tier, and you don’t necessarily have to be with a bank to qualify for membership here. Relevant industries and businesses that are adjacent to, or associated with banking may also apply for these memberships.
What Is The Value?
For businesses, getting access to a bankers association members list fulfills a lot of practical and intangible needs. It’s always a good idea to have data available on the people within financial institutions that make a difference to your business operations. If some other businesses or entities are associated with banking, but not directly involved, access to these names and contacts can also be useful. These contacts can be put toward establishing better financial relationships or simply getting more involved in the business community.
On the flip side, however, banks, and associated entities, still have their own needs to attend to in terms of products and services. Being able to reach out to the appropriate banker association member for proposals, inquiries, and even discussing investment-related matters can yield productive results for businesses with the right mindset.
We Can Help
Wall Street List specializes in compiling contacts for all manner of business needs. Whether you’re looking for investors that currently aggressively funding, of you want to start building contacts within a specific sector, such as those with banking association memberships, we can help.
We do more than just compile a lot of names and contact details then pass them on to a client. Our lists are carefully vetted to make sure they meet actual desired client characteristics and demographics. So when you get a list for oil and gas investors, you know those people have an interest in those commodities. And when you get a list with bankers association members, you know that this list is current and won’t have any dead-end deceased listings that result in a waste of time and resources.
If you want comprehensive, detailed lists based on demographic needs, we can help. Contact Wall Street List today and get the leads that translate into engagement, results, and growth of your business.