If this page doesn't display properly in your email, click here. January 20, 2021
New Jersey Bankers Association
Upcoming Webinars

Banking on DEI - Diversity Recruiting: Attracting and Hiring Diverse Talent
Friday, February 5, 2021
10:00 am – 11:00 am - Complimentary

In an ever changing world, the workplace and workforce are constantly evolving.  Companies must adapt their recruiting strategies to meet the changing needs of both talent and clients.  A diverse workforce not only promotes creativity and productivity, but it also helps meet the needs of clients and customers.

Join NJBankers for this timely webinar and discover top tips for successfully recruiting top tier minority talent.  Learn how to build a pipeline to diverse senior level talent, improve internal employee referral programs, and diversify your recruitment team.

EEO Laws of Hiring and Customer Relations - How to Balance Legal Requirements with Business Priorities
Thursday, February 18, 2021
10:00 am – 11:30 am - TBD Credits
Registration Opening this Week

In this webinar, Stevens & Lee will provide an overview of EEO laws and will discuss the intersection of diversity efforts and non-discrimination laws with regard to hiring, as well as non-discrimination laws as it relates to customers. 

Attendees of this webinar will gain a greater understanding of EEO laws and will learn how to recognize and avoid situations which may create potential legal exposure. 

The Current Financial Threat Environment
Thursday, February 25, 2021
10:00 am – 12:00 pm


Join NJBankers for a complimentary webinar led by the FBI Counter Threat Finance Team.  Understand the current threat environment and emerging issues that are challenging the financial security. 

This webinar will cover explore developing threats including domestic terrorism, PPP flaws, phishing schemes, marijuana, and much more.

Government Banking
Thursday, March 4, 2021
10:00 am – 12:00 pm - TBD Credits
Registration Opening this Week

As the 2021 gubernatorial election year kicks into high gear in New Jersey, political activity by your bank’s officers, directors, and employees may be on the rise. Not only is New Jersey home to a regulated-industry ban that prohibits banks from engaging in political activity, but New Jersey is also home to overlapping and varying pay-to-play restrictions  Does your bank’s Code of Conduct contain provisions addressing New Jersey’s regulated industry ban, political activity & pay-to-play compliance, and politics in the workplace? Now is the time to review your Code of Conduct to make sure that your bank is protected.

Join us at highly interactive webinar where you will learn best practices for developing, revising, and implementing your bank’s Code of Conduct.

Banking on DEI – Retaining Diverse Talent - SAVE THE DATE
Friday, March 5th   - Complimentary

 
Industry News

Federal Reserve Bank of New York Business Leaders Survey
Activity in the region’s service sector declined at an accelerated pace, according to firms responding to the Federal Reserve Bank of New York’s January 2021 Business Leaders Survey. The survey’s headline business activity index fell five points to -31.8. The business climate index fell three points -63.3, indicating that the vast majority of firms continued to view the business climate as worse than normal.

SBA Updates Rules, Forms for PPP Loan Forgiveness
The Small Business Administration released revised loan forgiveness forms for the Paycheck Protection Program. SBA also released an updated interim final rule on PPP forgiveness and a new conflict of interest disclosure.

SBA Issues FAQs on Revenue Reduction, Max Loan Amount Calculations for Second-Draw PPP Loans
With the Paycheck Protection Program portal reopening for all lenders, the Small Business Administration issued a set of frequently asked questions that address how to calculate revenue reduction and maximum loan amounts for second-draw PPP loans, as well as the documents borrowers must provide to back up these calculations. Second-draw loans are available for borrowers with 300 or fewer employees that experienced a 25% or greater revenue drop in 2020 compared to 2019 and that have used or intend to use the full amount of their first-draw PPP loan by the time they receive their second-draw loan.

Banking: The Digital Spike
Digital banking services – ranging from remote deposit capture for paper checks to smartphone banking apps and digital person-to-person payments – have skyrocketed during the coronavirus pandemic, with Bank of America’s New Jersey Market President Alberto Garofalo saying that the bank’s 2020 third quarter digital person-to-person payments, for example, totaled $39 billion, up 88% when compared to same timeframe the year before.

$100B+ in PPP loans have been forgiven — and process is just starting
The good news for small business: The U.S. Small Business Administration announced  that it already has forgiven more than 1.1 million Paycheck Protection Program loans totaling more than $100 billion. It also said that a large majority of applications — mostly from small businesses — have been approved.

 
 






Upcoming Webinars

Banking on DEI – Diversity Recruiting: Attracting and Hiring Diverse Talent
February 5th

EEO Laws of Hiring and Customer Relations
February 18th

The Current Financial Threat Environment
February 25th 

Government Banking
March 4th

Banking on DEI – Retaining Diverse Talent
March 5th

See njbankers.com for details.

Other Industry Meetings
View Other Meetings
COVID-19 Turns One: Lessons Learned from a Global Health Crisis
Written by: Rob Nichols, President and CEO, American Bankers Association

As impossible as it is to believe, we have been living in a global pandemic for an entire year. What began as a headline from a distant corner of the world quickly became a worldwide health crisis that continues to wreak havoc on our way of life and has, unfortunately, claimed the lives of too many of our fellow citizens.

Read More

 
Member News

Cross River to Participate in Next Round of Paycheck Protection Program (PPP)
Cross River, a technology-focused financial services organization and Banking-as-a-Service (“BaaS”) provider, today announced that it will be participating in the next round (“Round B”) of the U.S. Small Business Administration (SBA) Paycheck Protection Program (“PPP”). In the initial round of the PPP, Cross River provided more than $6.5 billion in relief to 198,738 small businesses in every state across the U.S., with an average loan size of $33,000.

Why next round of PPP is another opportunity for community banks to show their value
Congress approved another stimulus program that will infuse the local economies across the country with substantial capital. In this pandemic environment, where do you think businesses would get the best service for such a program? If the first stimulus package is any indication, local community banks may be the best outlet for businesses to secure funding. They are more accessible. They know the local businesses better. And they will provide the support network to make the process seamless for smaller businesses.

Applications Now Open: Bank of America Student Leaders®: Be the generation to serve, inspire and change the world
Through Student Leaders®, Bank of America recognizes high school students who lead and serve in their own communities and beyond. We connect Student Leaders to tools and resources to help make communities better.

As a Student Leader, you will: Work as a paid intern at a local nonprofit for eight weeks; Attend the weeklong Student Leaders Summit in Washington, D.C.*; Develop leadership and career skills; and Connect with like-minded students from your own community and across the country. *In-person events will be in line with local and national guidelines around gatherings and travel and may be subject to change. 

Haven Savings Bank Will Again Help Small Businesses with COVID-related Paycheck Protection Program (PPP) Loans
Haven Savings Bank, which provides retail and commercial banking services to customers in Union, Hudson, Morris, Somerset and Essex counties, is poised to participate in the second iteration of the Paycheck Protection Program (PPP), part of a US government COVID-19 aid package on the verge of codification. The bank expects to commence accepting new applications from regional businesses in the coming weeks, with lending continuing through March 31.

 
Endorsed Service Provider News

How Cryptocurrencies May Impact the Banking Industry
Written by: Marissa A. Scicchitano , CPA - Wolf & Company
Although the world of cryptocurrency is steadily expanding and gaining popularity, traditional banks are hesitant to adopt the use of these digital assets—believing that their inherent risks outweigh their potential benefits. However, regulatory agencies such as the Office of the Comptroller of the Currency (OCC) are working to change banks’ perception of digital currencies, believing that these assets could positively drive financial institutions to a new era of innovation and efficiency.

FinPro’s 2021 Global Webinar Package
FinPro’s Global Webinar Package is a series of 24 multi-faceted webinars offered throughout the year designed for Senior Executives and Directors.   It is structured with one flat fee for unlimited director and employee participation. All live webinars qualify for CPE credits and are also recorded for convenience.

Take advantage of this program for yourself, your board and your bank and show that you keep abreast of industry developments and trends. Questions? Please contact Jenn Zorn at jzorn@njbankers.com or Scott Polakoff at spolakoff@finpro.us

Are you heading into 2021 with critical issues to handle? Here’s how you and QwickRate can solve them now.
QwickRate has developed their products specifically for community banks, with impressive affordability that’s great for your budget, and amazing ease of use that helps your teams accomplish much more with less work. From now through January 31, 2021, QwickRate is pleased to offer all NJBankers member banks a discounted bundle price on two powerful solutions — IntelliCredit and QwickAnalytics — to help you get started.

PMC Winter/Spring 2021 Webinars
Back by Popular Demand - IRA & HSA Training
Join PMC for their series of Training Webinars. They are pleased to offer a variety of webinars that provide the latest updates in IRAs, HSAs, SECURE Act, CARES Act., and more!

 

 
Domain Presents Meet, Call and Chat from Anywhere with Microsoft Teams

January 28th - 10:00 AM

Without being in the physical office, your landline phone system probably remains untouched. Learn how to add flexibility and scalability to your remote work environment with the Teams Calling & Meetings solution that easily integrates into your existing infrastructure. Call from anywhere, anytime.

 

Join Domain on Thursday, January 28th for their second virtual discussion in a three-part series with industry experts on how to utilize these tools. LIVE DEMO included.

Register Today!

 
Associate Member News

The Kafafian Group Promotes Marsico to President
The Kafafian Group, Inc. (“TKG”), a consulting and advisory firm that specializes in providing services to community financial institutions, announced that effective January 1, 2021, Jeffrey P. Marsico, Executive Vice President, was promoted to President of TKG. Robert E. Kafafian, previously Chairman, President and CEO, will retain his Chairman and CEO role.  Marsico has been with TKG since its inception in 2001, and has worked in every line of business, all of which were designed to help community financial institutions perform better. 

Upgrade Presents On-Demand Consumer Credit –Digital Lending Webinar 
Upgrade an online marketplace platform present their approach to consumer lending. Topics include: Digital Lending, Consumer Credit, Prime Borrower Acquisition  Listen Here! - Click here for Slides


Upcoming Freddie Mac Webinars
Freddie Mac is offering three webinars throughout Q1 to assist with any questions you may have regarding their enhanced Loan Product Advisor (LPA), redesigned Uniform Residential Loan Application (URLA), and to answer any question you may have regarding the Uniform Loan Application Dataset (ULAD).

Moving Forward: Loan Product Advisor and the Redesigned URLA
Monday, January 25, 2021, 2 – 3:30 p.m. EST

Introduction to The Redesigned URLA and New ULAD
Monday, February 8, 2021, 2 – 3:30 p.m. EST

Redesigned: The Loan Product Advisor Feedback Certificate
Monday, March 8, 2021, 2 – 3:30 p.m. EST

In each session, you’ll also have an opportunity for Q&A with subject matter experts who can answer your questions about Freddie Mac policy.

Abrigo Presents ThinkBIG 2021 - BSA/AML - Lending - ALM - CECL
May 25, 2021 to May 27, 2021
In Person or Virtual
For more than two decades, Abrigo’s conferences have been educating lenders, risk professionals, and BSA/AML professionals, and we are excited to bring the ThinkBIG: Manage Risk. Drive Growth. and ThinkBIG: Fighting Financial Crime conferences together for one BIG event. Your financial institution’s need to grow and manage risk doesn’t go away just because COVID-19 isn’t contained yet. In fact, now more than ever, bankers need to think bigger to be able to help your communities survive and win.

 
Discounts for Employees of Members & Associate Members

As a member of NJBankers, there are benefits that are available to your bank or company but did you know there are direct benefits – discounts –  just for you as an employee?

NJBankers has partnered with Rider University for a tuition reduction, Plymouth Rock for auto insurance discounts, the ASPCA for pet insurance, and even Office Depot for supplies & printing discounts.  You’ll be surprised at the money you and your family will save!

Take a look at the details and discounts for the NJBankers partnership programs and learn more about how you and your family will benefit. NJBankers is pleased to make the Connections that can contribute to your bottom line!

Bank Members Click Here - Associate Members Click Here

 



CLICK HERE FOR MEMBER COUPONS GOOD THROUGH JANUARY 11th!

 
Help us Tell your Bank's Story!

Since the start of this health crisis, New Jersey banks have prioritized the safety of employees and customers. Throughout the pandemic, banks have offered an array of programs to help individual and business customers affected, including fee waivers, deferred payments and other accommodations depending on the customer's circumstances.

Banks continue to do everything they can to make things a little easier right now from helping customers get financial relief and approving a record number of business PPP loans to looking out for the well-being of their communities.

CHECK OUT THE AMAZING JOB BANKS ARE DOING, READ THEIR STORIES HERE!

It's no secret the tremendous work bankers have been doing around the clock to serve their customers and communities and keep operations flowing successfully through the uncertainty. Our industry should be very proud of our accomplishments and NJBankers would like to help you tell your banks story. We encourage you to share your story with us to get the word out on the exceptional job banks are doing during this trying time.

Please send your banks story to: Erin Attilio at esuckiel@njbankers.com.

 

        

 
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