Deposits. Everyone is looking for them, and no one seems to have the magic bullet---except John Ballantyne. Mark and John discuss the benefits of a commercial deposit focus and strategies to succeed in this line of business.
IN THIS EPISODE:
- [0:44] Mark explains what today’s episode is about.
- [2:12] John discusses his background and how he became CEO of Tru Treasury, and he talks about being a Blackhawk helicopter aviator.
- [4:43] John goes into the details of starting Tru Treasury during Covid.
- [8:59] Mark and John discuss why knowing which core system is used is important.
- [13:58] John and Mark reflect on how in 1998, the rules changed to permit credit unions to engage with businesses and what makes a credit union successful in meeting the needs of a business member.
- [20:17] John says credit unions are about people helping people and how if you have the right services, the deposits will follow.
- [27:03] John advises credit union executives on the best opportunities over the next few years and taking advantage of low-hanging fruit.
KEY TAKEAWAYS:
- [4:51] John describes how he had time to figure out the treasury management services and be a third-party provider to credit unions.
- [9:16] John discusses why you need to know the core system the credit union is using.
- [15:29] John describes what makes a credit union successful when serving the complete business member.
RESOURCE LINKS:
Mark Ritter Website
MBFS - Website
Mark Ritter - LinkedIn
Tru Treasury - Website
John Ballantyne - Tru Treasury LinkedIn
BIOGRAPHY:
John Ballantyne has been the CEO of Tru Treasury since its founding. After a distinguished career in the US Army, John spent several years working in the treasury management area for a large bank and owning his own financial services firm.
