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UNLOCK NEW CUSTOMER AND INCOME OPPORTUNITY WITH A TURNKEY CARD PROGRAM Your customers expect credit cards, merchant programs, and gift and travel cards through your bank. So why not give them what they want and retain those best customers, all while limiting your exposure to risk and added costs Check out these turnkey card programs from United Bankers' Bank (UBB) and the Independent Community Bankers of America (ICBA), two organizations dedicated to the success of community banking: Business Visa Convenience, cost savings and generous credit exclusively for small business owners. Retail Visa Platinum Competitively priced hometown credit enhances customer loyalty and encourages local spending. Gift and Travel Cards Attract new customers and generate added fee income with the hottest new card products on the market. Merchant Program Targeted payment solutions help local businesses grow while you control discounts and fees. Unlock Opportunity at Your Bank We’ve helped community banks create opportunity and secure a strong foothold in the payment market with successful bankcard programs for more than 20 years. For a detailed description of card options, marketing support and protections, contact us now, and we’ll get you started today. America’s First bankers' bank founded to ensure Your Success 800.762.8140 or www.ubb.com United Bankers’ Bank | PO Box 1766 | Clackamas, OR 97015 Rick Smith • 503-347-0556 • www.ubb.com | Member FDIC
Serving The Needs Of Washington Bankers Since 1889 Special Session Recap By Denny Eliason, WBA Lobbyist, Alliances Northwest It has been said that democracy is the worst form of government except all the others that have been tried. — Winston Churchill As business people and bankers it can often be frustrating watching our State government in action. This is particularly true as it relates to the way lawmakers and the Governor have managed the State General Fund Budget over the past six years. Alas, we enter the 2012 Legislative Session with yet another structural budget deficit – this time $1.5 billion in an approximate $31 billion context. That’s the bad news; the good news is that the Governor and many within the Legislature are now sending signals that they are serious about right sizing Washington State government spending so that the General Fund Budget moving forward is sustainable. The outlook for the sixty-day Session is a bit unclear at this time. Democrats control the House, Senate, and Governor’s Office; but there are no clear majorities that have yet coalesced around a set of solutions. Republicans and a number of moderate Democrats are holding firm on the notion that any Supplemental Budget must contain significant reforms to state government spending. More liberal Democrats and some moderates are calling for a substantial revenue package to help deal with the deficit. All of these efforts have been, and will be, vital as we move into the 2012 Session if we are to counteract the call for increased taxes on our industry. Bankers Day on the Hill will be held on February 23rd, and it will be critical that our members send representatives to Olympia at what will likely be a very important time in the Session. Having “real” bankers talk to their lawmakers directly as the Legislature debates our issues is very powerful. If you are interested in participating in Bankers Day, please contact the WBA in the very near future. Winston Churchill’s frustration and admiration of democracy was well founded. In a democracy our industry does rightfully have a voice. In 2012 we will have to take advantage of that right — and responsibility — if we are to continue to protect the banking climate in Washington State. I respectfully urge you to get involved. That’s where our WBA members are exposed. Liberal lawmakers continue to join with the labor unions and “occupy” crowd in calling for an elimination of the first mortgage deduction and the establishment of a windfall profits tax on the largest of national banks. Another group of moderate lawmakers are calling for a modest increase in the sales tax of .5% that would raise approximately $500 million dollars during the balance of the biennium. (This is the most politically feasible tax proposal, and it will likely be forwarded to the voters in the Spring for approval.) All that said, there will be significant pressure to tax our industry in 2012, and our membership will have to thoughtfully engage if we are to have any chance of avoiding new bank-specific taxes. The WBA has been working diligently during the summer and fall of 2011 to educate lawmakers regarding the downside of eliminating the first mortgage deduction and the negative effects on our State’s economy that would result from a windfall profits tax on financial institutions. WBA members turned out in impressive numbers at our Regional Meetings that were held around the State, bringing lawmakers together with bankers in their local districts. In addition, our Board has approved a significant focus on new social media activities aimed at getting our message to the public and motivating them to contact their lawmakers. 9 January/February 2012
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