Bank of American Fork was named the Innovative Community Bank of the Year in its size category by the Western Independent Bankers Association (WIB) and BDO, a financial consulting firm. Utah’s largest community bank was honored for its new AccountSmart Tools for Seniors product, which helps senior citizens avoid financial exploitation. Bank of American Fork and the other eight finalists were recognized at an awards ceremony on April 1 at the WIB annual conference in Scottsdale, Ariz.
“These Innovative Community Banks of the Year Awards represent ways in which community banks are working to meet their needs of both their customers and the communities they serve,” said Nancy Sheppard, president and CEO of WIB. “The nominated banks and finalists are great examples of how community banks are adapting successfully to the changing financial services environment.”
Bank of American Fork President and CEO Richard Beard accepted the award on behalf of the Utah bank. “We developed AccountSmart Tools for Seniors to help protect a vulnerable population that is increasingly targeted for financial exploitation. We are honored to be recognized for this innovative product and hope that this recognition will help seniors realize that community banks offer great resources for them to safeguard their finances.”
The Innovative Community Banks of the Year program recognizes forward-thinking and creative achievements of community banks in three different asset-size categories for innovations in 2011. The program is sponsored by the WIB and BDO.