One big thing:
Banks play a crucial role in making the American Dream a reality for millions, from homeownership to small business growth.
“There are thousands of variations on the American Dream, but in one way or another a safe and reliable banking system makes them all possible,” says Howard Headlee, president of the Utah Bankers Associaiton. “All successful bankers understand this one fundamental truth – their success is tied to the success of their customers. Banks can only succeed when the communities they serve succeed. A bank will never outperform its community”
Why it matters
As pillars of community success, banks are deeply invested in the prosperity of the areas they serve, directly impacting the pursuit of happiness for everyday Americans.
Go deeper
- The U.S. banking system is at the heart of every American’s pursuit of happiness, facilitating various aspects of the American Dream:
- Homeownership
- Small business creation and growth
- Retirement savings and financial stability
- Education funding
- Personal goal achievement (vacations, major purchases)
The success of banks is intrinsically tied to community prosperity. Bankers actively engage in solving community problems, recognizing that local issues inevitably impact their institutions.
The bottom line
The Utah Bankers Association stresses the importance of accountability and collaboration with policymakers to ensure banks can effectively promote the American Dream for all Utahns.
While supporting policies that safeguard banking, the association acknowledges that bad policies can hurt both banks and the communities they serve, ultimately hindering Americans’ pursuit of happiness.
The commitment to working with Utah leaders aims to make the American Dream a tangible reality for every resident of the state.