Your withdrawal plan can have a huge impact on your lifetime taxes - potentially even hundreds of thousands of dollars! #79 – All these years, you might have been focusing on efficient ways to save your retirement money.īut when it is finally time to take it out, which accounts do you withdraw from first? When is the best time to withdraw? Does it make sense to delay Social Security and pension? For more information on Sutton Bank’s Payments business, please visit out Jeremy’s latest podcast on tax-efficient withdrawal strategies by listening on “ Apple Podcasts ” or “ Google Podcasts ” or read below for 3 Reasons to Have a Withdrawal Plan in Retirement. Sutton Bank is now one of the largest card issuers in the country. Since that time, Sutton has issued hundreds of card programs, building strong partnerships with card networks, processors, and program managers, and has been transitioning from issuing cards to its retail clients to also becoming a large BIN sponsor for the Fintech community. Payments has been a core banking product for Sutton Bank since the late 1990’s. Sutton Bank, an Ohio-based independent, community bank, was founded in 1878 and has grown into a top-performing community bank, as recognized by the Independent Community Bankers of America. Join the movement to help save community banking.
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The BHB platform is free for bankers, reaching 75% of the banks. Through data tools and dynamic user groups, BHB provides community bankers with a knowledge base focused on bank technology and emerging Fintech companies, as well as hot topics such as cryptocurrencies, banking-as-a-service, becoming a sponsor bank, and launching a direct digital brand. The BHB BaaS Association is representing the greatest hope in a generation for the future of community banking, embracing new technologies and new diverse products that are more inclusive for all.”īankers Helping Bankers (BHB) is a bankers-only social+ platform for collaboration and education. Mayo said, “BaaS banks are mostly community banks, a few are larger, but one thing they have in common is that they are the top earning banks in the United States. Fueled by rapid expansion in FinTech funding and a constant supply of new startups, there simply aren’t enough BaaS Sponsor banks to meet the growing demand from hundreds of FinTech applicants. Promote best practices and standards for the delivery of BaaS to non-banks.īuild a community of like-minded bankers and other industry participants to share experiences, insights, successes, and failures realized in BaaS endeavors.Ĭonnect Federally-insured financial institutions to the fintech technology partners who will help them facilitate a successful BaaS program.īaaS is a highly specialized niche and one that is seeing a tremendous increase in bank participants.
This association is intended to help them embrace the opportunities of BaaS, while proactively identifying and mitigating risks.”Ĭoordinate legislative and regulatory advocacy efforts to promote an environment for the responsible delivery of BaaS by Federally-insured depository institutions. It is essential that banks getting into this space do so in a safe, sound, and regulatory compliant way. Having an association for banks active in this space will only help to continue the momentum and further strengthen consumers and community banking alike.”īHB Co-founder, Tanner Mayo said, “These elite bankers lead in profitability and innovation. Furthermore, by partnering with select Fintech organizations, smaller community banks are able to offer banking services to large numbers of the unbanked and underbanked population. Banking-as-a-Service is one offering that enables banks to generate alternative revenue and predictable fee income. According to Robert Keil, SVP, Chief Payments Officer of Sutton Bank, “Community banking is experiencing a number of challenges. Sutton Bank, Attica, OH is proud to be one of the founding, charter members of the Association. ATTICA, Ohio-( BUSINESS WIRE)-Sutton Bank and Bankers Helping Bankers (BHB) are pleased to announce the creation of the BHB Banking-as-a-Service (BaaS) Association, aimed at serving the unique needs of BaaS Sponsor banks.
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