Magazine article The RMA Journal

Rma Value Proposition

Magazine article The RMA Journal

Rma Value Proposition

Article excerpt

A chief financial officer reviewing dues invoices for the Institution's memberships in various associations is likely to ask, "What value comes from this membership?" Often, the answer incorporates intangibles-networking opportunities, peer-sharing events, round tables, and access to cutting-edge education and training. And these are important benefits, indeed.

However, RMA membership brings with it very tangible, and quantifiable, benefits that create a significant value proposition to its membership. Frequently, these value propositions are best explained by anecdotal evidence of how our institutional members view the return on their investment.

In the case of First Liberty Bank, a $1.8 billion bank headquartered in Macon, Georgia, the return on RMA membership has been considerable. Before its recent merger with BB&T, a $55.2 billion bank headquartered in Winston-Salem, North Carolina, First Liberty Bank operated a multi-faceted financial institution consisting of a bank, a mortgage company, a consumer finance company, and a leasing company. At the time it was considering expanding into consumer finance, the bank's due diligence process included examining the characteristics of this business line to determine the opportunities available as well as compatibility with First Liberty's culture.

The bank's chief credit officer, Lee B. Murphey, an active RMA member for years, began the inquiry by contacting a number of his RMA associates whose companies already were in this business. …

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