Bank Advisory Board

Great question. Hope one of your fellow bankers weigh in with real-life experience, but in the meantime I can offer some general thoughts. Banks forming advisory committees are giving their boards and management another perspective and that can lead to all sorts of opportunities. Board members may suggest new markets/products/services, offer insights into the local economy, introduce the bank to new customers. Advisory board members often become ambassadors for the bank in their communities and can help identify ways the bank can improve customer service or identify community needs. Good luck!

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Barbara Rehm
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Original Message:
Sent: 11-20-2017 11:36
From: Anonymous Member
Subject: Bank Advisory Board

This message was posted by a user wishing to remain anonymous

We are a small family owned commercial bank in the rural Midwest.  We are looking at starting an Advisory board for our bank from local participants.  We have a board of directors that is made up of employees and family members of the family that owns the bank.  We are looking at a quarterly meeting for our Advisory board and selecting a variety of people from our customer base.  We are thinking of a board of 4-6 people.  I am just curious if there are other banks that have done this and how it is working for them.  Also wondering about what information they are collecting from their board and how they are using it. Thank you for your time!