Recent association endorsements recognize SHAZAM's commitment to our industry

posted by Patrick Dix on Wednesday, April 21, 2021 in SHAZAM Blog

The associations and leagues that represent community financial institutions across the country continue to recognize SHAZAM’s commitment to maintaining their members’ voices in the rapidly changing payments and technology arena.

This year, the Kentucky Bankers Association and Community Bankers of Oklahoma became the latest to endorse SHAZAM’s products and services. SHAZAM’s commitment to these kinds of partnerships is a result of our member-owned structure.   

Partnership benefits
So, why are these relationships important to SHAZAM and what’s the benefit to associations? The associations are playing an important part in the central mission SHAZAM identifies for our members: Strengthening community financial institutions. Our relationships with associations allows us to fulfill our mission quite directly.

SHAZAM’s commitment is grounded in our unique position as the only nationwide independent, member-owned debit network, processor and core provider. That combination of structure and business philosophy allow us to ask questions, raise issues and find answers for community financial institutions that no one else will.
Without the pressures of shareholder expectations, we’re able to voice more independent opinions with a focus on benefiting the community institutions we serve. We bring expertise from the payments industry to inform and advise our partners on ways to keep their voice strong and relevant as payments change and evolve. Just like the community banks and credit unions we serve, these personal, long-term relationships are in our DNA. 

SHAZAM’s vision to be the trusted partner for our financial institutions extends to our association partnerships. Through SHAZAM’s strong leadership and effective advocacy, we help support their members. Over the last few years SHAZAM has been asked to advise, educate or make recommendations on legislation that would impact our members’ payments programs. Diversity among SHAZAM’s member institutions means we can share the impact of policies and rules on community financial institutions of all sizes.
Some examples:

  • Advocating for tougher penalties on skimming.
  • Instrumental in keeping debit card costs down by maintaining the dual-routing component of the Durbin Amendment.
  • Representing community financial institutions in Washington D.C. to educate lawmakers and regulatory agencies like the FTC and the Fed.

Knowledge is power
Strong organizations have leaders who pursue professional development. That’s a key benefit SHAZAM offers association partners. Since the creation of the SHAZAM Speakers Bureau four years ago, our experts and leaders have served as keynote speakers, panelists and instructors at association meetings and conventions across the country. Our experts bring decades of experience in payments, cybersecurity and physical security, marketing, human resources, professional development, and public relations. 

Supporting our industry
SHAZAM’s structured as a nonprofit corporation. This isn’t nonprofit in the traditional sense because we definitely work to earn a profit. It’s what we do with our profits that’s unique. When you do business with SHAZAM, we’re committed to finding ways to keep some of what we earn in your home state, supporting the organizations that help keep your business strong.

Stay tuned for more news about SHAZAM’s expanding partnerships around the country!

SHAZAM, Inc. and ITS, Inc. provide this blog for general informational purposes only. Our blog may be shared by a direct link wherein the content remains as originally presented and has not been altered. SHAZAM, Inc. and ITS, Inc. assume no responsibility for errors or omissions in the contents on the blog. By using this blog, reader agrees that the information published does not constitute nor is a substitute for legal advice which should only be sought from a qualified, licensed attorney. 


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