The Next Generation of Long-Term Savings
Have you ever questioned why certificates of deposits require depositors to “lock up” their money?
We can all appreciate the value of accounts with a predictable fixed rate for a fixed term. But the idea of penalizing all early withdrawals is unfair, needless, and stifling. Possibly more problematic is that the industry tends to make early withdrawal seem unseemly and somewhat mysterious.
Offering fairly priced, daily early redemption access to CDs benefits both the financial institutions and the depositors simultaneously. Discover this new approach that could greatly shift the competitive landscape with long-term savers.
In this session you will learn:
- Factors that could lead to a renewal of competition for deposits
- Why time deposits will again be the product of choice when you compete for deposits
- Flaws with the classic CD design
- The steps to make time deposit offerings financially efficient and effective
Tuesday, August 10 from 1:00–2:00 pm CDT
Neil Stanley, CEO & Founder, The CorePoint
Neil Stanley is the Founder and CEO of The CorePoint.
With over 25-years as a bank executive with First National of Nebraska Lauritzen Corporation, Northwest Financial Corporation, and TS Bank Group, Neil founded The CorePoint in 2010 with a mission of revitalizing pricing strategies for retail deposits. The company provides clients across the country with enhanced ways of attracting and retaining properly priced retail deposits.
Neil obtained his master’s degree from the University of Nebraska-Lincoln, taught in the economics department at Iowa State University, and has taught at Graduate School of Banking in Colorado, Southwest Graduate School of Banking, and Graduate School of Banking-Madison. He has been granted two U.S. patents for business processes that unleash value in time deposits. Neil has published numerous banking industry articles. He has served as a director for several banking and financial organizations as well as Pillar Seminary in Omaha.