Magazine article American Banker

Small-Bank Network Tries Publishing

Magazine article American Banker

Small-Bank Network Tries Publishing

Article excerpt

Community banks already cooperate on everything from venture capital opportunities to the investment products they offer, so it was probably only a matter of time before someone came up with a way for banks to distribute magazines together.

That is precisely what Heritage Clubs International Inc., a company that organizes banks' senior citizen clubs, has done.

Trying to tap into the aging baby boomer generation and retain the core deposits of senior citizens, Heritage Clubs and its partner, Minneapolis-based NFR Communications, which also produces the NorthWestern Financial Review, have created a magazine called Onward aimed at community banks' elderly customers. It was launched in June with an initial press run of 100,000 copies.

Jacqueline Nasseff-Hilgert, Onward's publisher, said she hopes her publication can "stand up against Modern Maturity" and other popular titles aimed at seniors. She said she hopes to increase distribution to 200,000 within three years and that banks are encouraged to distribute the quarterly to their older customers as well as to younger clientele.

The goal is to have editorial content that will appeal to members of seniors clubs and to those who will be eligible for those clubs before long.

A twin goal is for that editorial mix to win advertisers from outside the financial services sector (it will not advertise products that would compete with the banks distributing the magazine). Onward has regular columns and features on finance but also has articles on health, fitness, and travel. …

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