Way back in the early days of my formal Catholic education, I was thrilled on “banking” day! It was the beginning of learning how to save, how to put money into my bank account, and we did it all at school! Talk about peer pressure, tall about “keeping up with the Joneses!” You all marched into the cafeteria where Cleveland’s Society for Savings had set up their periodic bank for we children. It was all fun and games. And then in the Summer, we were encouraged to go into one of their branches to make our deposits. That was fine. Society had a fantastic branch in downtown Cleveland right on Public Square. For a child it was a big bank, with revolving doors and all! The architecture was amazing. It was all a great experience…until it wasn’t.
On one of the Summer deposit days, I learned banks could be dangerous to my wellness even if I had not learned that they could also be dangerous to my financial wellness! At school, there were no revolving doors. Remember I was younger than 8 when I learned that a bank can sometimes be a hazard…my foot was caught in the revolving door as someone older, and probably wealthier, was trying to get into the bank in a hurry. I was slowing them down, so they pushed the door harder catching my foot. Well, the bank was a fan of children making deposits–I was whisked away to the couch of one of the bank officers to assess the damage that had occurred. My mother was about to faint; nothing like this had ever happened to her before. Her concern was with me and the safety of my younger sister. The bank treated us well (I am sure that even then they were considering their potential liability). I recovered quickly, but the incident left me a little bruised and hurting.
Banks, bruising, hurting!
Little has changed in the really big picture. From this point on, all banks will be labeled “BIG Banks” or “LOCAL SMALL Banks”. There is a difference.
Where is this heading?
Recently I have been told by more than one professional colleague that I am “too nice”, “too soft”, etc. After all, I have had professional experience in government, professional experience in banking — BIG and LOCAL SMALL, and let’s go further, I have had extensive professional experience in national brokerage houses. You could say I have had experience in traditional financial institutions. Yes, I have, and it is now time for my time to share what those experiences have led me to today when I am no longer a part of traditional financial services. Stay tuned. As I proceed down this path, I welcome all comments. Really, I do, because over the years, in addition to professions that folks love to hate, such as lawyers, government, and stockbrokers of the past, banks and brokerages are now on the list, and with good reason!