Central News

Federal Home Loan Bank of Chicago Honored

October 4 — Community Bankers Association of Illinois annually presents a Service Development Award to a provider of goods and/or services to Illinois community bankers who have performed above and beyond the call of duty to benefit the cause of community banking through CBAI either during the past year or over a period of years. CBAI announced at its 44th Annual Convention, held recently in St. Louis, that the recipient of the 2018 Service Development Award is Federal Home Loan Bank of Chicago.


MIB Conference Report: Invest in Marketing, Social Media, but Don’t Forget the Fundamentals

By Bill Poquette, Editor-in-Chief, and Alaina Webster, Managing Editor

The titles of two presentations pretty well identify the range of the program for Midwest Independent Bank’s Community Banking Conference, recently held in Blue Springs, Mo.: “Twitter, LinkedIn, Facebook, Instagram” for openers, and midway through a reminder that, “Good Times Are Here Again, but Let’s Not Forget the Importance of Banking Fundamentals.” In a full day plus two half days, Aug. 22-24, the Jefferson City, Mo.-based bankers’ bank also provided 140 guests from Iowa, Kansas, Missouri and Nebraska a healthy dose of technology education, from payments to online accessibility to card skimming and cloning to cybersecurity.


Smallest Banks in Missouri Pay More for Regulatory Compliance

August 20 — The smallest community banks in Missouri may be dedicating an equivalent of 18 percent of their workforce to comply with regulations that govern how they operate.


Ohio Is Open for Blockchain Business

August 7 — Ohio became a supporter of blockchain-based businesses on Aug. 3, when Governor John Kasich signed legislation enabling new uses for this cutting-edge technology.

Ohio is one of the first states to adopt legislation recognizing the use of blockchain technology to transmit and store electronic records in a broad range of industries, from financial services to supply chain management, real estate and healthcare. The state believes blockchain’s benefits include greater security of information, reduced costs and faster transactions. Cryptocurrencies such as bitcoin are just one way that blockchain technology can be used.


Will Credit Unions in Michigan Soon Be Providing Trust Services?

July 31 — A group of seven Michigan credit unions have formally applied to the Michigan Department of Insurance and Financial Services to establish a new, limited-purpose financial institution that will provide trust services primarily to credit union members. Formal acceptance of the application will begin a review process by state regulators that may last up to 100 days, at which time the organizers anticipate approval.


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