Tampa Community Bank to PAY new depositors $5 a month to use services

[banned from Kos]

http://www.bradenton.com/2011/10/12/3563762/community-bank-to-pay-not-charge.html

MANATEE -- Community Bank, which has 17 branches throughout Manatee and four other southwest Florida counties, is joining the outcry against bank debit fees by offering new customers the opposite: a monthly payment.

The $5 per month Community Bank is offering anyone who opens a Value Checking account is a direct response to the $3 to $5 monthly debit card fees larger banks are starting to charge, bank officials said.

“We needed to do something to help consumers who are under attack from behemoth national banks charging fees that just don’t make sense,” said Katie Pembles, Community Bank president. “People have a choice of where to bank, and at Community Bank, we thought paying people $5 per month rather than charging them $5 per month was a good way to set us apart.”

A stick in the eye to Bank of America.

[antigop]

1. gotta love the "free market" n/t

[FarCenter]

3. Since they are

Since they can charge merchants higher fees whenever the cards are swiped, they can pass some of the fee income on to their customers.

Its a "regulated market".

[louis-t]

2. I LIKE it!

If you can find one, use a Community or State bank. Or a Credit Union.

[Scalded Nun]

6. Absolutely!

You can get your credit cards through them as well. I have been with credit unions for over 35 years and have nothing but good things to report on their way of doing business. Local and state banks are great as well.

[RagAss]

4. That's the spirit boys !

[FarCenter]

5. About Us

Trevor R. Burgess

Mr. Burgess serves as CEO and Vice Chairman of the Bank's holding company, CBM Florida Holding Company. He began investing with Marcelo Faria de Lima in 2008. Prior to then, Mr. Burgess was a Managing Director at Morgan Stanley where he was an investment banker in New York, Los Angeles and London. At Morgan Stanley, he executed over 100 transactions raising over $50 billion for his clients. Earlier in his career he was a consultant at Michael Porter's Monitor Company in Cambridge, Massachusetts. He earned his bachelors degree from Dartmouth College in 1994. Mr. Burgess has served as a director since the change of control transaction was completed on December 3, 2009.

Marcelo Faria de Lima

Mr. Lima is Chairman of the Bank's holding company, CBM Florida Holding Company. Mr. Lima is an international investor with interests in companies located in the United States, Brazil, Mexico, Turkey, Denmark and Russia employing over 6,000 people and generating sales of over $1 Billion. Mr. Lima started his career as a commercial banker working for ABN Amro Bank in Brazil and Chicago before working as an investment banker for Donaldson, Lubkin and Jenrette, Credit Suisse, and Garantia. He graduated from Ponteficia Universidade Catolica do Rio de Jeanerio in 1985. Mr. Lima has served as a director since the change of control transaction was completed on December 3, 2009.

https://www.communitybanknow.com/about.asp

---

1%ers?

[BR_Parkway]

13. Warren Buffet's also a 1% - entry into the club doesn't require being an

asshole - no more than being a 99%er means you're a good person who cares about others - if it did, places like FR couldn't exist.

[canoeist52]

7. I'm so old that I remember getting $5 in interest on a checking acct.!

[SoCalDem]

8. My most recent IRA has a whopping 0.07 interest rate

:(

and our "conservative" plan in my husband's 401 LOST $2k this past quarter.:(

Prior to switching to the conservative plan we lost $29K in the crash of 2009.. At this rate there will be very little left in 2 years when he retires..

He could withdraw, but then we would have to pay taxes on it..

[sarcasmo]

11. That is the hedge fund managers plan, swindle everyone's 401k cash.

[RebelOne]

12. Fortunately, I pulled all my money out of my 401K

before I lost any more money. I retired in 2010 and the money in my 401K was slowly diminishing, so I just pulled all the money and put it into my savings account. I did the same with my IRA, as it was also losing money. I figure it is safer in savings because at least I am not losing. I may not be getting any interest, but the balance is not going down.

[Auntie Bush]

9. I wonder if any of the occupy groups had anything to do with this decision?

[sarcasmo]

10. Now that's customer service.