Kentucky State Treasury Newsroom
Treasurer Todd Hollenbach Hosts Webinar for State Treasuries
Frankfort, KY (August, 2015) –With 47 representatives from state treasuries and the banking industry watching and listening, Kentucky Treasurer Todd Hollenbach today hosted a two hour webinar detailing the Kentucky Treasury’s experience in initiating a new banking contract.
“In 2010, after 85 years working with the same small local bank, we had to make a change to meet our needs,” Treasurer Hollenbach told the group. “Little did we know at the time, the great challenge we would face in making the transition. Now five years later we’re just getting to the point where the process is smoothing out and we wanted to pass along the lessons we learned so that other treasuries that are about to go through a similar changeover, don’t do so blindly.”
Deputy Treasurer Dr. Eugene Harrell, a 33-year veteran of Kentucky Treasury operations, outlined several points to consider when seeking a new banking relationship. “Be flexible in your relationship with your new bank,” he said. “Be prepared to adjust your processes to accommodate what your bank has to offer. And get to know your bank’s customer service representative. Getting a good one is the key to success!”
The webinar was sponsored by The National Association of State Treasurers which seeks to provide advocacy and support that enables member states to pursue and administer sound financial policies and programs.