|Community Bank of San Joaquin Enhances Technology Despite Recession
As is the case with many financial institutions, the recession has created a challenging year for Community Bank of San Joaquin. Nevertheless, the Stockton, CA bank has opted to invest in technology to enhance its operations. Community Bank of San Joaquin recently purchased Banc Intranets’ DirectorsLink product to provide its directors with more convenient and cost-effective access to information.
“It was a prudent business decision,” says Mike Letizia, Vice President Human Resources & Security. The impact of the recession has led the bank to hire fewer employees and to ask some of the existing personnel to contribute beyond the scope of their normal duties. “The byproduct of that kind of pulling-the-reins-tightly is we place more responsibility with the employees we currently have,” Letizia says. “We found they were not getting their regular work done because of doing board-related tasks.”
The board-related functions were being handled by two management-level employees: a loan services manager and an administrative services manager. These duties were consuming 11 percent of the loan services manager’s time, plus another 14 hours outside the normal business day each month. The administrative services manager spent 71 percent of her time working on board packets, as well as another four hours of monthly overtime. After completing a workforce analysis and time management study, the bank decided that it simply wasn’t feasible for these individuals to take time away from their “real” jobs to manually assemble huge board packets. “We could continue paying the high price of having them do clerical work or find an alternate solution—a technology solution,” says Letizia.
Banc Intranets Offers the Ideal Solution
DirectorsLink fit the bill. Community Bank of San Joaquin considered a number of different products, but Banc Intranet’s director’s portal emerged as the obvious choice. The bank wanted a time-saving solution that would allow employees to minimize paper pushing—while still being easy to administer and customize. “We really felt Banc Intranets’ interface and level of flexibility was for us,” Letizia says.
DirectorsLink is ideal because it allows directors to access the bank’s information quickly, easily and securely from anywhere in the world. So instead of waiting to receive board packets by email, fax or mail, directors can logon to the secure environment of the portal and gain instant access to accurate and timely information. They can view archived and updated material in “real time” to better prepare for meetings, teleconferences and other demands. Directors can also use the portal to communicate and collaborate with fellow committee members, senior management, general counsel and other key personnel within their organization. In addition, board secretaries can easily use DirectorsLink to upload board packages and other important information for online review.
Installation Will Result in Significant Savings
Letizia expects the installation of DirectorsLink will result in significant savings for Community Bank of San Joaquin. Each month, the bank will save $1,292 in lost productivity from the loan services manager position and $2,693 from the administrative services manager. Those are just the savings from payroll expenses. Eliminating the labor-intensive aspect of manually preparing board packets also saves on printing, postage, paper, and trees—which is better for the environment. “There are just times when it makes sense to look at technology,” Letizia says. “DirectorsLink is a smart investment. It’s an investment that will be sustainable for the future.”
Community Bank of San Joaquin prides itself on being a trustworthy banking partner for San Joaquin and Stanislaus county residents. Established in 1999, it offers a variety of services for individuals, businesses and non-profit organizations. The bank has two locations in Stockton, 33 employees and $132 million in assets. Community Bank of San Joaquin is a wholly-owned subsidiary of Bank On It.
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“DirectorsLink is a smart investment. It’s an investment that will be sustainable for the future.” Mike Letizia, Vice President Human Resources & Security