Corporate Volunteerism: A Win Win Win
Today, the true measure of a corporation’s success is more than the bottom line and the value of the company to its stockholders. Corporate citizenship is an integral part of a company’s success. Some essential business practices of corporate citizenship include treating employees well, practicing good ethics, being transparent and accountable, building trust and relationships, and contributing to a sustainable environment (Hitachi Foundation & Boston College Center for Corporate Citizenship, 2003). However, one of the most critical components of corporate citizenship today is volunteerism; the involvement and positive social impact that the corporation and their employees have on the community where they work. More and more, today’s successful businesses realize that their profitability, reputation and retention of quality employees have a strong correlation to their commitment to employee volunteer programs.
At Intracoastal Bank, we understand and stress the importance of giving back to our community. By providing our employees with an opportunity to do good deeds that they don’t have time for outside of work, we increase company loyalty and develop strong and lasting ties to our community. At the end of the day, our company, our employees and our community reap the benefits of our continued dedication to volunteerism.
Intracoastal Bank’s support of employee volunteerism has several benefits to us as a company. It has grown our relationship with the community who has helped make us successful. A by-product of this valued relationship is the enhancement of our corporate image and reputation. Additionally, our support and direct involvement in various not for profit projects over the past several years; the United Way of Volusia/Flagler Counties, Habitat for Humanity, Mobile Benefits, Feed Flagler, Flagler County Education Foundation, etc., has built an extremely cohesive and motivated workforce. We’ve become a unified team!
For our employees, the involvement in community volunteer programs has many perks. Volunteerism offers our employees the opportunity to improve the community where they work and live. Also, the ability to participate in the bank’s supported programs adds variety and fulfillment to their work day. In addition and quite possibly most importantly, the active engagement of our employees in these volunteer programs has improved their leadership and interpersonal skills and increased their sense of self worth. We truly have more effective and better-rounded employees because of it!
Intracoastal Bank’s unwavering support and involvement in community-based volunteer efforts positively impacts our hometown as well. Our efforts have increased the understanding of the necessity of a strong and enduring relationship between businesses and the not for profit sector in the vitality of our community. Our employees also are providing their skills and talents to needed community services that might not otherwise be possible. Lastly, our bank’s efforts assist in enhancing the quality of life in our community.
Dollars and Sense Series Article for March A Day in the Life of Flagler County’s “Hometown Community Bank”
From the moment you step through the doors of the Key West architecturally themed home of Intracoastal Bank, Flagler County’s “Hometown Community Bank,” you immediately sense a different atmosphere. From the warm friendly greetings, freshly baked aroma of Otis Spunkmeyer chocolate chip cookies, freshly brewed coffee, signature bottled water, and “Customer Appreciation Days” to the dog biscuits for Fido, you will be quickly immersed into a new banking experience. Dorothy, you are not in Kansas….I mean “big bank land” anymore!
With Americans becoming more and more frustrated with the “big banks” or as commonly referred to as the “big box banks,” many are making the choice to move to smaller, more personable community banks. Many American consumers have become fed up with the mergers, buyouts, bailouts, and huge executive bonuses. They feel that these large institutions have lost touch with old-fashioned customer service and serving their community.
When Intracoastal Bank opened its doors on June 16, 2008, we were determined to be different. Our goal was to be different in so many ways. We are not a corporate giant. We are a small bank with hometown values and practices. Our size allows us to be able to customize our products and services to meet the needs of our customers.
Not only are our customers and a growing number of Flagler County residents aware of a change in the air, but our employees as well have a full sense of our unique institutional culture and work environment. Our bank’s core values prioritize teamwork, recognizing that each team member plays a vital role in our overall success. Our overall philosophy empowers our employees to make decisions without having to jump through the big corporate hoops.
We make decisions locally, typically around our upstairs conference table. This allows a much quicker turnaround on loan decisions and decisions pertaining to our customers’ accounts. If a customer ever has a question or concern, “management” is always available. Our management team has an open door policy. The decision makers are not hidden away in offices located on the 43rd floor of a skyscraper in a major metropolitan city. Our decision makers are always accessible and that’s the difference.
Similar to the Bailey Building and Loan Association depicted in the Christmas movie classic “It’s a Wonderful Life,” we pride ourselves in giving our customers a friendly, small town, face to face banking experience. As our cute, recognizable mascot implies, we like being the small fish in the big pond. We are a close, happy family…..employees and customers!
Dollars and Sense Series – Women in Top-Level Positions in Banking – Flagler’s Intracoastal Bank Leads the Way
Dollars and Sense Series
Women in Top-Level Positions in Banking – Flagler’s Intracoastal Bank Leads the Way
Although women have a predominant presence in the American banking industry today, that same presence is not found at the industry’s senior management level. Over half of the employees in American banking today are women. Yet, even with significant efforts of the banking industry as a whole to level the playing field, recruiting and training women for top-level positions, women currently only make up 17.9% of the top level positions in banking (Graff, E. J., “Discrimination Against Women in Banking”, www.americanbanker.com, October 1, 2011).
In promoting Cheryl Tanenbaum to the position of Senior Vice President, Chief Financial Officer this past July, Intracoastal Bank, “Flagler’s Home Town Bank”, not only increased the percentage of women in senior level positions, but set precedence in banking in Flagler County. With approximately eleven banks located in Flagler County, Tanenbaum is the only woman occupying this high level position. Bruce Page, Intracoastal Bank’s President and Chief Executive Officer, and the bank’s Board of Directors are very proud of this significant accomplishment.
Cheryl Tanenbaum, a twenty-two year resident of Flagler County, came to Florida from Plainview, New York, where she earned a Bachelor of Science degree in Business Management and Communications from Adelphi University.
Tanenbaum has been in banking for twenty-eight years. She started as a bank teller and diligently worked her way up the ladder. “I’ve held numerous positions over the years, so I have a broad understanding of banking”, says Tanenbaum. Upon moving to Florida, she worked for Barnett Bank, which later became Bank of America. When Tanenbaum left Bank of America in 1999, she was the Assistant Vice President. She was responsible for the operations of two of the largest branch offices in the Volusia/Flagler market.
Tanenbaum then teamed up with banking veteran Bruce Page and they went on to startup the first two “true” community banks in Flagler County; Cypress Bank and today’s Intracoastal Bank. Tanenbaum comments, “Bruce has been a true mentor to me over the past seventeen years. He has always supported me and helped me grow in this business. With two successful banks under our belts, I feel very proud of what we’ve accomplished together.”
When Flagler’s only woman bank Senior Vice President and Chief Financial Officer is not shaking up the banking industry, Tanenbaum spends her time with her family; Larry, her husband of twenty-four years and three children; Jonathan, twenty-two, who just graduated from University of Florida, Russell, twenty, who is a cosmetology graduate from Daytona State College and Sammi, fifteen, a sophomore at Matanzas High School. Tanenbaum also stays very active in the Flagler community, where her focus and passion is helping children. She is a mentor for the Take Stock in Children Program, the Treasurer/Chairperson for the Senior Scholarship Committee, serves on the Board of the Flagler County Education Foundation, a committee member of the United Way Volusia/Flagler, Women’s Initiative of Flagler County, a facilitator for FDIC Money Smart classes for adults and youths, and the past Treasurer of the American Business Women Association.
Clearly, Cheryl Tanenbaum has not let any grass grow under her feet since hitting Florida soil. Today, when very few women have climbed the banking ladder, Tanenbaum not only moved up the rungs, but broke through the infamous “glass ceiling”. “Cheryl has played a key role in the bank’s success and we are very proud that our bank has set the example in Flagler County”, says Intracoastal Bank’s President and Chief Executive Officer, Bruce Page.
Intracoastal Bank was conceived by a group of Flagler County business people who had the vision to establish a truly local “hometown community bank.” Flagler County is located along the Atlantic coast between Daytona Beach and Jacksonville in Northeast Florida. The Bank’s office, at 1290 Palm Coast Parkway NW in Palm Coast, FL, opened in June 2008. Most recently, the bank announced the launch of a leading office in Ormond Beach, Florida.
Intracoastal Bank offers the products and services that a large bank offers with the personal and friendly touch that only a true hometown bank can offer. Offering the best technology available, the bank can customize products and services to meet the needs of both corporate and retail customers.
Intracoastal Bank believes in giving back to our community. The employees live and work in the community and volunteer many hours to help make the community a better place to live. Deposits are kept in our county to benefit our local economy. This helps our community to be more prosperous.
- Be recognized as the best financial services company in our community.
- Provide the highest quality personalized banking service to our customers.
- Provide customized financial products and service designed to meet the unique needs of our community.
For more information, call 386-447-1662, or visit them on the web at www.intracoastalbank.net. Facebook: https://www.facebook.com/intracoastalbank. Twitter: https://twitter.com/#!/intracoastalbnk.