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The Community Bankers Association of Georgia supports the strong and accurate statement by Rebeca Romero-Rainey, President of the Independent Community Bankers Association regarding the acquisition of one of Georgia’s own community banks, Heritage Southeast Bank, by an out-of-state, multibillion-dollar, tax-exempt credit union-VyStar Credit Union: ICBA Op-Ed.
“Due to the tax exemption, the taxpayer essentially funds the transaction up front and long term by allowing the credit union to pay an above market premium for the transaction while permanently removing a tax paying financial institution from state and federal tax rolls. In addition, low to moderate income borrows are negatively impacted since credit unions are NOT subject to the Community Reinvestment Act.” In 1934, Congress exempted credit unions from federal taxes and many states, such as Georgia, adopted similar laws exempting credit unions from state taxes as well. Now, nearly 90 years later, it seems completely unreasonable that, individuals, such as a schoolteacher, firefighter, police officer and grocery store clerk should pay more in taxes than an $11 billion-dollar financial institution.
Acquisitions in many industries happen every day; however, most all are privately funded. Surely, it was not the intention of Congress back in 1934 for something like this to ever occur. As a result, it is incumbent upon our federal and state legislators to ignore the credit union lobbying groups and stand up for taxpayers and low to moderate income borrowers in Georgia and across our country. The tax exemption for multi-billion dollar credit unions must be eliminated.
“Due to the tax exemption, the taxpayer essentially funds the transaction up front and long term by allowing the credit union to pay an above market premium for the transaction while permanently removing a tax paying financial institution from state and federal tax rolls. In addition, low to moderate income borrows are negatively impacted since credit unions are NOT subject to the Community Reinvestment Act.” In 1934, Congress exempted credit unions from federal taxes and many states, such as Georgia, adopted similar laws exempting credit unions from state taxes as well. Now, nearly 90 years later, it seems completely unreasonable that, individuals, such as a schoolteacher, firefighter, police officer and grocery store clerk should pay more in taxes than an $11 billion-dollar financial institution.
Acquisitions in many industries happen every day; however, most all are privately funded. Surely, it was not the intention of Congress back in 1934 for something like this to ever occur. As a result, it is incumbent upon our federal and state legislators to ignore the credit union lobbying groups and stand up for taxpayers and low to moderate income borrowers in Georgia and across our country. The tax exemption for multi-billion dollar credit unions must be eliminated.
John McNair - President & CEO
Community Bankers Association of Georgia
Community Bankers Association of Georgia

Partners for Change Mini-Trade Show
A long-time tradition at CBA conventions, the popular Mini-Trade Show is changing it up this year, offering more time for bankers and providers to connect.
Join 30 of the country’s top financial services providers for the “Partners for Change” Mini-Trade Show and learn about new offerings to help your bank become more efficient and enhance the customer experience.
Visit with CBA partners on Thursday and Friday during breakfast and during extended breaks. Register for incredible prizes at each booth while taking in valuable information. CBA will have a bingo-style card for exhibitors to stamp. Visit all 30 booths by noon on Friday to be eligible for the $500 cash prize, compliments of Crescent Mortgage.
"The connections and relationships we formed at the CBA Annual Convention in 2020 paved the way for us to add three new clients. The CBA always takes such great care of their associate member attendees and truly strives to make sure we get the value for our marketing dollar," commented David Saylor, President and Founder, Genesys Technology Group, LLC., a CBA Gold Preferred Service Provider.
A long-time tradition at CBA conventions, the popular Mini-Trade Show is changing it up this year, offering more time for bankers and providers to connect.
Join 30 of the country’s top financial services providers for the “Partners for Change” Mini-Trade Show and learn about new offerings to help your bank become more efficient and enhance the customer experience.
Visit with CBA partners on Thursday and Friday during breakfast and during extended breaks. Register for incredible prizes at each booth while taking in valuable information. CBA will have a bingo-style card for exhibitors to stamp. Visit all 30 booths by noon on Friday to be eligible for the $500 cash prize, compliments of Crescent Mortgage.
"The connections and relationships we formed at the CBA Annual Convention in 2020 paved the way for us to add three new clients. The CBA always takes such great care of their associate member attendees and truly strives to make sure we get the value for our marketing dollar," commented David Saylor, President and Founder, Genesys Technology Group, LLC., a CBA Gold Preferred Service Provider.

Celebrate a Lifetime of Service
Community Bankers Association of Georgia (CBA) is proud to honor bankers who have reached a significant milestone in the banking industry with the Lifetime Service Awards. CBA pays tribute to bankers reaching a milestone of 30, 40 or 50 years in the community banking industry. The presentation will be made during the 53rd Annual Convention & Mini-Trade Show. The 2021 deadline to submit honorees is Monday, May 3, 2021.
Honorees receive a commemorative plaque, and CBA will feature the honorees in various CBA publications. Honorees with 50 or more years of service also receive a customized gold and diamond lapel pin. If you or someone in your bank is celebrating 30, 40 or 50 years of service as a banker during this calendar year, please contact Lindsay Greene, 770-541-0376, or visit CBA’s website.
Community Bankers Association of Georgia (CBA) is proud to honor bankers who have reached a significant milestone in the banking industry with the Lifetime Service Awards. CBA pays tribute to bankers reaching a milestone of 30, 40 or 50 years in the community banking industry. The presentation will be made during the 53rd Annual Convention & Mini-Trade Show. The 2021 deadline to submit honorees is Monday, May 3, 2021.
Honorees receive a commemorative plaque, and CBA will feature the honorees in various CBA publications. Honorees with 50 or more years of service also receive a customized gold and diamond lapel pin. If you or someone in your bank is celebrating 30, 40 or 50 years of service as a banker during this calendar year, please contact Lindsay Greene, 770-541-0376, or visit CBA’s website.
Interested in Golfing at CBA's Convention?
CBA is pleased to inform you that we have reserved tee times for those avid golfers who want to get on the course during the Convention. The Ritz has given CBA a special rate of $105.00 plus tax for the afternoon of June 3rd.
CLICK HERE FOR CBA GOLF TEE TIME REGISTRATION
If you would like to sign up, please use the link attached to sign up for the tee times that have been arranged. By submitting your name, you are obligating yourself to the time you have selected. Should you be interested in setting up a tee time for yourself OUTSIDE of the CBA tee-times, please feel free to reach out of the Golf Shop directly at 904-277-0012.
CBA is pleased to inform you that we have reserved tee times for those avid golfers who want to get on the course during the Convention. The Ritz has given CBA a special rate of $105.00 plus tax for the afternoon of June 3rd.
CLICK HERE FOR CBA GOLF TEE TIME REGISTRATION
If you would like to sign up, please use the link attached to sign up for the tee times that have been arranged. By submitting your name, you are obligating yourself to the time you have selected. Should you be interested in setting up a tee time for yourself OUTSIDE of the CBA tee-times, please feel free to reach out of the Golf Shop directly at 904-277-0012.

Georgia Fintech Academy Partnership with Georgia Community Banks Featured in American Banker
The partnership between Georgia Fintech Academy, CBA and Georgia’s community banks is showcased in American Banker this week. Miriam Cross, Tech Reporter at American Banker, recently spoke with Kim Kirk, Executive Vice President, Chief Operations Officer, Queensborough National Bank & Trust Co., and Tommy Marshall, Executive Director, Georgia Fintech Academy.
The partnership between CBA and Georgia Fintech Academy began when CBA CEO John McNair met Tommy Marshall and began discussing how to provide an opportunity for fintech oriented students to interact with bankers and build a talent pool of potential interns and new hires for community banks. Click here to read the article.
The partnership between Georgia Fintech Academy, CBA and Georgia’s community banks is showcased in American Banker this week. Miriam Cross, Tech Reporter at American Banker, recently spoke with Kim Kirk, Executive Vice President, Chief Operations Officer, Queensborough National Bank & Trust Co., and Tommy Marshall, Executive Director, Georgia Fintech Academy.
The partnership between CBA and Georgia Fintech Academy began when CBA CEO John McNair met Tommy Marshall and began discussing how to provide an opportunity for fintech oriented students to interact with bankers and build a talent pool of potential interns and new hires for community banks. Click here to read the article.

ICBA Announces 2021 Policy Priorities
ICBA advanced its top legislative and regulatory priorities for 2021. Approved by ICBA’s Policy Development Committee and board of directors, ICBA’s 2021 priorities include:
ICBA advanced its top legislative and regulatory priorities for 2021. Approved by ICBA’s Policy Development Committee and board of directors, ICBA’s 2021 priorities include:
- Regulatory reforms that support economic growth, job creation, and access to financial services, such as supporting de novo bank formation, banking services for legal cannabis-related businesses, and Bank Secrecy Act modernization.
- Ensuring community banks—the nation’s small business lenders—are not competitively disadvantaged by less regulated or tax-advantaged credit unions, fintechs, industrial loan companies, the Farm Credit System, and more.

2021 CBA PAC/PR TopGolf Showdown
Join us for a one-of-a-kind event that is equal parts networking and golf tournament with friendly competition! This open-air tournament offers a way to connect and raise money for an important cause – CBA’s PAC Fund. Enjoy food, beverages, prizes and support CBA’s PAC. Click here for more information and to register.
Join us for a one-of-a-kind event that is equal parts networking and golf tournament with friendly competition! This open-air tournament offers a way to connect and raise money for an important cause – CBA’s PAC Fund. Enjoy food, beverages, prizes and support CBA’s PAC. Click here for more information and to register.

CBA PAC Fund: Thank you!
At CBA, we must constantly build and renew relationships with legislators that understand and support community banking.
Thank you to the following bank for their generous contributions to CBA’s PAC Fund:
At CBA, we must constantly build and renew relationships with legislators that understand and support community banking.
Thank you to the following bank for their generous contributions to CBA’s PAC Fund:
- Northeast Georgia Bank, Elberton - Mr. Lee Vaughn
Georgia’s community bankers do great things in their communities every day. Here is the latest on community outreach and news from CBA Members:
- Happy 80th Joe Daniell! Friends, family and co-workers at Vinings Bank, Smyrna, held a surprise 80th birthday celebration for Joe Daniell last week.
- Peach State Bank, Gainesville, held their Quarterly Staff Meeting last week. Employees all wore their CBA T-shirts to work yesterday and had the meeting outside at a local park. Employees continued their annual tradition of painting bowls for the Georgia Mountain Food Bank.
- Exchange Bank, Milledgeville, recently made a $25,000 donation to St. Mary’s Good Samaritan Hospital through the Georgia HEART program. Pictured l-r are: Eric Johansen, John Childs, Jr., Tanya Adcock, Bria Brown, and Casey Washburn. (Read release)
- Exchange Bank, Milledgeville, announced Jack Miller as the 2021 Exchange Bank Scholarship recipient for the Greene County area. Each year Exchange Bank selects three winners for this award, one from each of the communities we serve, Milledgeville, Gray, and Lake Oconee. (Read release)
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Think CBA First for Your Professional Development Needs!
Be sure to think of CBA first when it comes to your training and Professional Development needs. Here are some upcoming CBA events:
Be sure to think of CBA first when it comes to your training and Professional Development needs. Here are some upcoming CBA events:

Deposit Accounts: How to Bank Legal Entities
& Mitigate Fraud
April 22nd | In-Person Macon or STREAM
Have you updated your new account procedures recently? What forms do you need to bank legal entities? What documents should each type of entity provide? Do I always need bylaws, an operating agreement, a partnership agreement, articles of incorporation/organization, etc.? When should I verify information with the Secretary of State? How do I protect our bank from scams? Register here.
& Mitigate Fraud
April 22nd | In-Person Macon or STREAM
Have you updated your new account procedures recently? What forms do you need to bank legal entities? What documents should each type of entity provide? Do I always need bylaws, an operating agreement, a partnership agreement, articles of incorporation/organization, etc.? When should I verify information with the Secretary of State? How do I protect our bank from scams? Register here.

CBA Executive Channel - Quarter 1
April 27th | Macon
Whether you are a President, CEO, Executive Officer, or an emerging leader, these sessions will give you information to help effectively lead and carry out your role. Be sure and register for this timely session (or quarterly series) which provides in-depth coverage of current trends and tools for today's community banks. Register here.
April 27th | Macon
Whether you are a President, CEO, Executive Officer, or an emerging leader, these sessions will give you information to help effectively lead and carry out your role. Be sure and register for this timely session (or quarterly series) which provides in-depth coverage of current trends and tools for today's community banks. Register here.
Fitech Payments is a merchant services provider that was founded to serve community banks exclusively. With their relationship-first approach, Fitech has been able to assist community banks in being more competitive with merchant services resulting in growth for the bank and adding many benefits for their business customers.
Contact Matt Mingenback at 316-518-8850, by email or visit their website. |
Here are some of the latest news stories relevant to community banking and the financial services industry:
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