— Megan Olson, President & CEO, ICBSD
Advocacy is one of the most powerful tools we have to ensure the continued success of community banks, and recent efforts in Washington, D.C., proved just how impactful our collective voice can be. I want to highlight the incredible work of ICBA President and CEO Rebeca Romero Rainey and the community bankers who represented us on Capitol Hill.
Standing Up for Community Banks
During the ICBA Capital Summit, community bankers from across the country met with lawmakers and regulators to discuss the pressing issues impacting our industry. Their message was clear: community banks are the foundation of local economies, and policies must reflect the unique role we play.
Key Advocacy Priorities
During the ICBA Capital Summit, our representatives engaged with lawmakers and regulators to advance policies critical to the vitality of community banks. Their discussions centered on:
- Regulatory Relief: Advocating for the reduction of onerous regulations that disproportionately affect community banks, enabling them to serve their customers more effectively.
- Competitive Fairness: Ensuring a level playing field by holding non-bank entities, such as credit unions and fintech companies, to the same standards as community banks.
- Support for Agriculture: Promoting policies that bolster agricultural lending, recognizing the essential role of farming in South Dakota’s economy.
- Tax Reforms: Seeking tax relief measures that empower community banks to reinvest in their local communities.
A complete list of hot-button issues and top priorities can be found here
The Impact on South Dakota
The outcomes of these advocacy efforts have profound implications for South Dakota’s community banks. By striving for equitable regulations and competitive fairness, we enhance our ability to support local businesses, farmers, and families. These initiatives ensure that our banks remain robust pillars of economic growth and community development.
The Power of a United Voice
ICBA’s presence in Washington reinforced that when community bankers come together, we get results. As Rebeca Romero Rainey noted, policymakers are listening, and progress is being made. But there is always more work to do.
I encourage all of our ICBSD members to stay engaged. Your voice matters. Whether it’s participating in grassroots efforts, reaching out to legislators, or sharing your customers’ success stories, your advocacy helps shape policies that allow community banks to thrive. ICBA’s Be Heard Grassroots Action Center makes it easy to connect with lawmakers and advocate for policies that support our industry. You can access that here:
icba.quorum.us/campaign/CBAgenda
I also urge you to extend a hand within your own institutions—educate your staff on the importance of these issues and encourage them to get involved. When employees understand how advocacy directly impacts the work they do and the customers they serve, they become stronger advocates for the industry. Whether it’s through local events, social media, or simply having conversations with customers, everyone at your bank can play a role in promoting the value of community banking.