Determine the risks that are unique to thrift operations compared to commercial banks

Part 1 (one): Discussion Post

Please respond to the following:

• Considering the bank* you currently use, create performance criteria and then rate your bank against the criteria you developed. Make a suggestion for one area of improvement based on your evaluation. *(Banking Company you can use are either: Bank of America, BB&T, SunTrust, Wells Fargo, or First Citizens Bank)

• Determine the risks that are unique to thrift operations compared to commercial banks. Describe how the thrift should manage each risk identified.

*** 100-200 Words ***

*** References/Citations are most likely needed ***

*** Banking Company you can use are either: Bank of America, BB&T, SunTrust, Wells Fargo, or First Citizens Bank ***

Part 2 (two): Respond to classmate’s post below

I have enjoyed utilizing a Military Credit Union for nearly 2 decades.  The service is reliable and consistent.  They also offer great hours and online and ATM services that are convenient for my family and I.  Thus the criteria I would utilize is as follows:

Good hours and after hours (ATM services with Satellite help)

Online services for travel and global banking

Phone service that is reliable and convienent.

High returns for Savings account

Consulting services

In considering thrift services, I consider the convenienceof them being in the neighborhoods and easily accessible.  Also these thrift banks do have unique risk, of safteyissues, avoiding being robbed and also having reliable customer service and consistent business practices.  A thrift bank is a type of small financial institution that primarily accepts deposits and originates home mortgages.  65% of the amount of their loan portfolio that thrift banks are required by law to commit to loans to consumers, rather than to businesses. While the thrifts’ core offerings are traditional savings accounts and home loan origination, these institutions increasingly also offer checking accounts, personal and auto loans, and credit cards. Thrifts are structured either as corporate entities owned by shareholders, or as mutual associations owned by their customers, both borrowers and depositors.

*** 4-6 Sentences shall be fine ***

 

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