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Alyssa, don't miss these important MBA updates...
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In observance of the holiday, the MBA will be closed on Monday, January 1 and will
resume normal business hours on Tuesday, January 2.
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Nominate your Bank for a Financial Literacy Award
Nominations are Due By: Friday, February 23
We are eager to celebrate your bank's contributions to financial literacy, and we invite you to submit an entry. Honorees will be celebrated during the MBA BEST Conference, March 20 to 22 in Traverse City at the Grand Traverse Resort and Spa at lunch on Thursday, March 21 during lunch. Reach out to Alyssa Bouchard, at abouchard@michigan.bank for more information.
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2024 MBA Bankers of the Year
Nominations are Due By: Friday, February 23
The Michigan Bankers Association recognizes annually a member banker for outstanding leadership to the MBA, the industry and our communities. The Banker of the Year award recognizes the best of our profession to the public, media and elected officials.
The MBA members are invited to nominate an MBA Banker of the Year. Every nomination will be reviewed by the MBA Perry Schools Board of Trustees and MBA Board of Directors for final selection.
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ADVOCACY EVENTS
Washington Summit
Registration is NOW open for the 2024 Washington Summit on March 18-20 in Washington D.C.
Get ahead of what’s to come in this election year with the MBA/ABA Washington Summit. You’ll have your finger on the pulse of policymakers on Capitol Hill, at the regulatory agencies, and in the White House.
Scholarships Available for Emerging Leaders
The ABA will once again provide two $750 scholarships to Emerging Leaders in Michigan to attend the 2024 Emerging Leaders Forum on March 18 in Washington DC as part of the Washington Summit. The $750 can be used for travel and/or lodging expenses and is reimbursed by the ABA after the conference. Please submit the name, bank, title, and email of your emerging leader at your bank to Alyssa Bouchard at abouchard@michigan.bank.
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HOUSING FINANCE
Report: GSE Foreclosure Prevention Actions Decrease in Q3
The Federal Housing Finance Agency released its third quarter 2023 Foreclosure Prevention and Refinance Report, which includes data on mortgage performance, delinquencies and active forbearance plans, as well as forfeiture actions and refinances by state.
According to the report, Fannie Mae and Freddie Mac completed 43,356 foreclosure prevention actions during the quarter, raising the total number of homeowners who have been helped to 6,861,827 since the start of conservatorships in September 2008. There were 47,370 foreclosure prevention actions during Q2.
Thirty-three percent of loan modifications completed in Q3 reduced borrowers' monthly payments by more than 20%. The number of refinances decreased from 93,952 in Q2 to 83,522 in Q3. The serious delinquency rate declined to 0.54% at the end of Q3. This compared with 3.34% for Federal Housing Administration loans, 1.99% for Veterans Affairs loans, and 1.52% for all loans. Read more.
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PROFESSIONAL DEVELOPMENT
Save the Date: FDIC Director College - May 23, 2024, Lansing.
To increase the public’s awareness of deposit insurance and how it can protect people’s money in the event of a bank’s failure, the FDIC developed a national consumer campaign, “Know Your Risk. Protect Your Money.” The campaign reaches people who may have lower confidence in the U.S. banking system or who are unbanked, as well as those who use mobile payment systems, alternative banking services and financial products that may appear to be FDIC-insured but are not. Learn more.
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PROFESSIONAL DEVELOPMENT
Leadership Series - Live & Interactive,
In-Person & Virtual
You earned your leadership position...this Leadership Experience will help you make the most of it! Drawing on Steve’s 25 years of experience as a CEO and entrepreneur, this action-oriented program offers practical takeaways so you can maximize your impact and results as a leader.
The Leadership Experience
- Unlock your full potential as a leader by leveraging the power of influence
- Learn how to inspire your team to follow you because they want to...not because they have to
- Learn how to build lasting trust, lower turnover, and drive team performance
Series Dates: February 1 - May 16.
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MBA SERVICE CORPORATION
Week after week, your regulatory compliance changes.
For most in compliance, each day is packed with scenarios leaving little time to implement long-range plans. And when the inevitable changes do come, we pivot to these new concerns at the risk of everything else.
As compliance requirements and agency guidance ramp up most community bank’s compliance programs are ill-equipped to meet these increasing demands—especially as budgets tighten.
Learn about the Virtual Compliance Officer program—one-on-one partnership with well-trained, experienced CRCMs who are ready to put your program in order. For more information, contact Jill Verscheure here.
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MBA SERVICE CORPORATION
Upcoming Events from Michigan Planners
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WEBINAR: Healthier Habits, Happier You
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Date & Time: January 10th, 10:00 AM to 11:00 AM
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Registration Link: Register Now!
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ROUND TABLE: Strategies for Marketing Your Benefits
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Date & Time: January 18th, 10:00 AM to 11:00 AM
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Registration Link: Register Now!
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SEMINAR: Mastering Non-Competes: Legal Insights and Best Practices for Business Success
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Date & Time: February 15th, 9 AM to 10 AM
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Registration Link: Register Now!
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WEBINAR: Total Rewards in the Midst of High Inflation
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Date & Time: February 23rd, 11 AM to 12 PM
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Registration Link: Register Now!
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MBA SERVICE CORPORATION
Order your 2023 Compensation, Benefits and Outside Directors Survey
The MBA Service Corporation’s 2023 Compensation, Benefits and Outside Directors Survey is NOW AVAILABLE!
- What is the salary other Michigan banks are paying their staff?
- What benefits are being offered for all F/T and P/T banking staff?
- What is the average compensation for board members serving Michigan banks?
- How is educational reimbursement being handled?
The MBA survey is filled with 200 pages of information assisting your bank with benefit decisions for your staff and boards. Order your copy today electronically, hardcopy or both!
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MBA SERVICE CORPORATION ENDORSED PARTNER
The Latest from Bankers Alliance
View the Compliance Alliance Question of the Week.
Banking Matters Podcast - Learn about today’s financial trends, topics, and practical matters on the Banking Matters Podcast. Listen to new episodes every Monday! Listen now.
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🎄✨ Season's Greetings from the Michigan Bankers Association! 🎁🌟 Wishing you safe and joyful celebrations with your loved ones during this special time of year. Let's cherish the moments that warm our hearts. May your holiday season be filled with the spirit of joy and festive cheer! #HappyHolidays #SeasonsGreetings #JoyfulCelebrations 🎅🤶 | |
Exciting news! 🌟 Explore fresh job opportunities daily with MBA Service Corporations' Endorsed Partner, BankTalentHQ. Check out the latest Michigan bank jobs at banktalenthq.com. Your next career move could be just a click away! 💼 #JobOpportunity #CareerGrowth #BankingJobs" | |
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🏆✨ Nominate Your Bank for a Financial Literacy Award! 🌐💰 We're thrilled to recognize outstanding contributions to financial literacy, and your bank could be the next honoree! 🏦✨ Submit your entry by Friday, February 23.
📆 Save the Date: Honorees will be celebrated during the MBA BEST Conference, March 20-22, in Traverse City at the Grand Traverse Resort and Spa. Join us for a special recognition lunch on Thursday, March 21. 🍽️🎉
For more details, click here.
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