Friday, August 11, 2023
Banks Are Trying Out New Ideas to Connect with Female Customers
Like most banks and credit unions, Traditions Bank has been looking for ways to drum up deposits. But the $808 million-asset bank in York, Pa., also had another goal: It wanted to boost its scholarship fund for girls graduating high school. So, Traditions launched what it calls the Her Traditions Scholarship CD, a 10-month savings product that earns an annual percentage yield above 4%. The bank makes a monthly donation to the scholarship fund in an amount equal to 0.01% of what’s deposited. Within the