Spring Survey Results
 
This spring, FHLB Des Moines held nine “Maximizing Your Membership” meetings throughout the district with 570 people from 350 member financial institutions attending. The meetings were designed to not only talk about what is new at the Bank but to explore ways the Bank can help members get the most from their membership.

At the beginning of each meeting, members took time to complete a 25-question survey geared to give the Bank customer insight and competitive intelligence. The Bank is interested in how our members make their funding decisions and what factors influence those decisions. Questions explored the use of advances, other funding products, pricing, dividends and communications. We asked about the challenges facing community banking, suggestions for products and services and what are the most valuable benefits of Bank membership.

The results of the survey showed that retaining core deposits and growing net income are two of the greatest strategic challenges facing our members. Responses indicate that members maximize their FHLB Des Moines membership by using advances and that low-cost advances are more important than higher dividends. Generally, members were satisfied with the level and quality of service they received from the Bank and offered a variety of suggestions ranging from loosening collateral requirements to offering advances where the members own the option to prepay. Members look to the Bank’s website for current information and are eager for more online options for doing business.

Some survey highlights are:

• 98% agree retaining core deposits is a strategic priority
• 96% agree consistent growth of net income is their main focus
• 80% agree FHLB advances are important for strategic planning
• 81% agree FHLB advances meet their funding needs
• 75% agree lower cost advances are preferred over higher dividends

Our goal is to successfully meet our members’ needs and having the right information to do that is critical. We appreciate our members’ feedback and will continue gathering information, converting it into intelligence and then utilizing this in our business decision making.
 

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