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In every recession, the same things happen. Deposits get difficult. Everyone’s fighting over those same dollars. They all need deposits. Regulators are coming in. They’re cranky, and they’re writing up banks. There are liquidity issues. Everybody gets desperate and tries to find deposits, just when they’re hardest to find. That doesn’t seem like a good strategy to me.

Video: You’ve Seen This All Before

It seems to me that since you know that during challenging economic times, it’s going to happen every time because it always has, that you can assume that as you hit the beginning of an economic downturn, you want to be ahead of it—and have plenty of core, low-cost deposits and a system to pull in more and more and more of them, making sure also that they have six, seven, eight cross-sales with you on average so you know those deposits are sticking. The great deposit debacle is coming, but it doesn’t have to come to you. But you’re going to have to be very conscious and very effective at implementing systems to make sure that you are always flush in great deposits.

– Roxanne Emmerich

Please watch the video above and share it with your exec team and board.

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