Many banks fail to take advantage of a great resource: nearby colleges and high schools.
Bank of New York used this method when it was the largest bank in Westchester County, N.Y.:
Many high schools have annual dinners to honor their top athletes. The bank's version was an annual "appreciation night" for scholars at all the high schools in its territory. The top two students in each school were invited, along with the teachers who influenced them most.
It was a first-class affair, held at the leading hotel in White Plains and as fancy as any social event provided for top customers (except that there was no alcohol).
Such events are a terrific way for a bank to generate good will and good publicity. Here are some more:
Set up a speakers bureau. Let the local schools know that you have officers ready to discuss financial matters of interest to students. The subjects could range from economics and government policy down to opening a bank account, handling credit card debt, and student loans.
Invite students in to see how the bank operates and talk to various officers about jobs they might get at the bank during their high school or college school years or afterward.
Invite teachers of economics, finance, and social studies to meet with top officers and share views on how the bank can help the school and the community and what the school and its personnel can do for the bank.
Sponsor forums for top local teachers, chosen by their students, to speak. I particularly like this idea. Many banks sponsor occasions for top customers or the entire community to hear informative speakers. But it is hard to find people who can also be entertaining when discussing economics or the nuts and bolts of banking.
Highly regarded teachers can be an answer. Giving them a platform also gives parents a chance to hear their children's favorites discuss areas of interest - not just business and economics but science, history, or the arts.
The cost to the bank: a small honorarium to the speaker and a gift to the school - a lot less than professional speakers charge. And the publicity and good will can have immeasurable benefits.
I am sure our readers can think of other ways to use the local schools for a bank's benefit and vice versa. If you'd like to pass one on, write to me at 14 Friar Tuck Circle, Summit, N.J. 07901 or e-mail me at
Mr. Nadler, an American Banker contributing editor, is a professor emeritus of finance at Rutgers University Graduate School of Management in Newark, N.J.
