Sharon Bank
What year did Sharon Bank open it's doors?
1873
True or False: everyone gets the rewards in their 1873 accounts no matter what
False, only those qualifying
What are the rewards on the 1873 High Interest account?
2.00% up to $10,000; $25 ATM withdrawal fee refunds
What does FRAN stand for?
Free
Rewards
Ask to Qualify
No penalties
How can members know how they're tracking towards qualifying each cycle?
Rewards Dashboard
Which of Sharon Bank's office has been serving its community the longest?
Darby
The # of POS transactions to post and settle to qualify
12
What are the rewards on the 1873 High Interest account?
3% on debit card purchases, up to $9 cash back each month; $25 ATM withdrawal fee refunds
What should you do when you get an objection?
Ask why. Get to the root cause of the concern before offering a rebuttal.
These two products are the primary drivers for deposits
1873 High Interest and 1873 Saver
What are Sharon Bank's colors?
Green and Gold
We ask you to... Not you need to, have to, requirements, stipulations, etc.
What are the rewards on the 1873 Saver account?
0.75% up to $50,000
Reasons why 1873 Saver should be added to every 1873 checking account?
- Higher avg. balances
- More POS
- Deeper product penetration
- Stays on avg. 2-years longer
On average which account has more debit card usage?
Who is the President/CEO of Sharon Bank
Bill Mattern
This creates stickiness
ACH/DD
Even when your customer doesn't qualify what two accounts still earn someting?
1873 High Interest and 1873 Saver; 0.02% APY
Why is this program a Win-Win
Rewards consumers
Makes or saves the bank money
- higher avg. balance
- younger
- more POS and eStatement adoption
- stickier
- deeper product penetration
-longer life-span
What happens if I don't qualify?
It's still a free account and you can try again next month, plus in 1873 High Interest and 1873 Saver you get 0.02% on your balance
What day did Sharon Bank open it's doors?
December 2nd
How do you qualify in 1873 Saver?
Qualify in your attached 1873 High Interest or 1873 Cash Bank accounts
What is the purpose of 1873 High Interest and 1873 Cash Back accounts sweeping into the 1873 Saver account?
Encourages your customers to save
How much money has community institutions lost to fintech institutions in the past five years?
$3 Trillion
Average daily balance that determines whether 1873 High Interest or 1873 Cash Back is better for the consumer
$5,400