Banks’ common mission to serve their customers must serve as a rallying point for industry advocacy, said new American Bankers Association Chairman Dorothy Savarese in remarks to ABA’s Annual Convention today.
Describing the sense of pride and personal satisfaction she felt as a community banker – first as a management trainee in Kentucky and later as chairman, president and CEO of Cape Cod Five Cents Savings bank in Massachusetts — Savarese highlighted the important role banks play in helping their customers secure mortgages, start businesses and save for the future. “Whether your bank is a mutual like mine, or family owned, a Sub S or a C Corp bank, your mission is to be of service,” she said. “And you can only succeed when your customers do.”
Savarese encouraged bankers to come together around this common goal as the industry continues to grapple with technological and demographic shifts and fight against over-burdensome regulation. “Our country needs banks of all sizes to support economic growth,” Savarese said. “And we need bankers, like all of you, willing to fight for your customers and communities.” She added, “That’s not to say we agree on everything — we don’t. And believe me, as one of eight children — we don’t have to. We just need to agree on what’s important and what we’re willing to fight for.”