BENTON —Community Financial Services Bank (CFSB) was named a national award recipient in The Independent Community Bankers of America’s® (ICBA) 2019 National Community Bank Service Awards, which celebrate volunteer efforts of the nation’s community banks. ICBA selected CFSB from a group of 100 nominations for its impactful and economic empowerment program to improve financial literacy throughout the state of Kentucky.
“CFSB’s outreach initiative was inspired in part by the ‘Champlain College 2016 National Report Card on Adult Financial Literacy,’ which gave Kentucky near-failing grades in financial knowledge and retirement readiness … we knew we had to do something,” said Betsy Flynn, CEO of CFSB.
“We are honored that ICBA has recognized our efforts to become a force for positive change by imparting tomorrow’s leaders with the knowledge to replace multigenerational poverty with multigenerational wealth.”
Among the $1.2 billion-asset bank’s notable collaborations is its multi-level partnership with Ramsey Solutions and the Kentucky Financial Literacy Initiative, through which the bank has provided one-on-one coaching to 100 individuals and additional training to 5,000 individuals through sponsored school curriculum and workshops. The bank also helped garner support for Kentucky House Bill 132, which was signed into law last April and incorporates financial literacy principles into state-mandated graduation requirements.
“ICBA is proud to recognize the extraordinary contributions of CFSB and its team members, which demonstrate the vital role community banks serve in helping local communities prosper,” said ICBA President and CEO Rebeca Romero Rainey. “CFSB’s dedication to community bank principles, and unwavering support for its customers and communities, serves as a shining example for our industry.”
More than 100 community banks have been recognized since ICBA launched the National Community Bank Service Award program in 2002. Bank technology services provider FIS, of Jacksonville, Florida, sponsored this year’s program. CFSB and other award recipients will be featured in the September issue of Independent Banker® magazine.