Independent Banker - February 2020 - 40

PORTFOLIO
Sgt. Yanira Scarlett (center) with the Des Moines Police Department was honored during a 2019 Latino Heritage Month event at Bankers Trust's
East Branch. Many bank customers, community members, police department personnel and Bankers Trust staff attended the celebration.
18,000 hours a year, including
involvement with several multicultural
organizations in the communities that
the community bank serves.
" When immigrants relocate to Des
Moines, they lean heavily on referrals
from within their communities for services
such as banking, " Valbert says.
" When a community knows we have
employees who speak their languages
and understand their fears and concerns,
it reduces those barriers and
fears. " As a result, Bankers Trust sees
a high referral rate, Valbert adds.
These efforts have also made
Bankers Trust a leading and highly
respected employer in the markets it
serves, according to Valbert, and they
help the community bank attract and
retain diverse talent. He adds: " We
have also earned several honors for
our diversity and inclusion efforts. "
Breaking down cultural barriers
From its founding in 1984, $330 million-asset
Abacus Federal Savings
Bank in New York City has been a
small, minority-owned bank that
" When a community knows we have
employees who speak their languages
and understand their fears and concerns,
it reduces those barriers and fears. "
-Scott Valbert, Bankers Trust
40 Q ICBA Independent Banker Q February 2020
serves primarily the Chinese-American
community. " The community we
serve remains dominated by first-generation
immigrants, a customer base
that creates at least three challenges
for us, " says Jill Sung, the community
bank's president and CEO.
One challenge is the language barrier.
For most of the bank's customers,
English is a second language, and some
don't speak English at all. The second
is the sociopolitical and economic cultural
background of many customers.
" They have chosen to leave their country
of birth where the government is
all powerful, controlling many aspects
of their lives, " Sung says. " Hence, they
have a natural distrust of government
and institutions in general. "
The third challenge is a lack of
understanding of money and building
wealth. " Many of them are merely trying
to survive on a daily basis, " Sung
says. " They view money as currency
[that enables] one-time transactions

Independent Banker - February 2020

Table of Contents for the Digital Edition of Independent Banker - February 2020

Table of Contents
Independent Banker - February 2020 - Intro
Independent Banker - February 2020 - Cover1
Independent Banker - February 2020 - Cover2
Independent Banker - February 2020 - Table of Contents
Independent Banker - February 2020 - 2
Independent Banker - February 2020 - 3
Independent Banker - February 2020 - 4
Independent Banker - February 2020 - 5
Independent Banker - February 2020 - 6
Independent Banker - February 2020 - 7
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Independent Banker - February 2020 - Cover3
Independent Banker - February 2020 - Cover4
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