Treasure Coast Business News 5.10.22
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Bank of America is First Financial Institution Certified by J.D. Power for Customer Satisfaction
Bank of America is First Financial Institution Certified by J.D. Power for Customer Satisfaction
Bank recognized for comprehensive client experience centered around financial wellness
Bank of America is the first financial institution to be certified by J.D. Power for financial health support, according to the J.D. Power Financial Health Support Certification Program. Bank of America is committed to helping clients make better financial decisions.
The J.D. Power Financial Health Support Certification Program, developed in collaboration with Financial Health Network, a leading authority on financial health, focuses on measuring and understanding customer experiences through the lens of financial health. Drawing on data and insights collected as part of the J.D. Power Financial Health and Advice Program, the J.D. Power Financial Health Support Certification recognized Bank of America for outstanding levels of customer satisfaction with financial health support offerings.
“At Bank of America, we have centered our entire client experience around the goal of financial health. We listen to our clients and respond with the personalized advice and tools they need to achieve financial wellness,” said Holly O’Neill, President of Retail Banking at Bank of America. “This certification recognizes our commitment to supporting financial health using a multifaceted approach. We provide educational resources and financial solutions that help clients build sound financial habits, manage their cashflow and pursue their goals.”
In its analysis, J.D. Power compared 96 best practices among banks, assessing vision, performance, infrastructure, and solutions. They looked at leadership commitment and strategic direction to support customers’ financial health and assessed internal capabilities, collaborative tools, and product development processes that can lead to it.
Bank of America uses a holistic framework for supporting the financial health of its clients, providing advice and guidance to address five key pillars of financial health:
- Simplify your finances – seek basic, transparent products and services
- Manage your money – access digital tools that help set goals, track spending, and enhance financial security
- Leverage experts – tap resources for advice about the right solutions
- Build knowledge - obtain credible financial education and resources
- Get help when needed - be able to access assistance when significant events occur
In the J.D. Power Financial Health and Advice study, released in June 2021, Bank of America ranked number one nationally for retail banking customer satisfaction with the advice and guidance provided by national and regional banks in the United States.
J.D. Power 2021 Financial Health Support Certification℠ is based on exceeding customer experience benchmarks using client surveys and a best practices verification. For more information, visit jdpower.com/awards.
Bank of America
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 67 million consumer and small business clients with approximately 4,200 retail financial centers, approximately 16,000 ATMs, and award-winning digital banking with approximately 41 million active users, including approximately 33 million mobile users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
Treasure Coast Business is a news service and magazine published in print, via e-newsletter and online at https://tcbusiness.com tcbusiness.com by Indian River Media Group. For more information or to report news email mailto:[email protected] [email protected]
New Vision Eye Center
Day of Caring at New Vision Eye Center
In October, Dr. Robert Reinauer was joined by the cataract surgeons at New Vision Eye Center for a day of caring. Dr. Reinauer, along with Drs. Stephen Tate, Mohamed Sayed and Sarah S. Khodadadeh donated their time to provide cataract surgery for a pre-selected group of uninsured, low-income Indian River County residents who were referred by the We Care Program.
Dr. Reinauer and his colleagues are proud to volunteer their time to provide quality care and medically necessary treatments to our underserved populations.
Dr. Reinauer is no stranger to pro-bono medical work. He serves on the board of directors for the We Care Foundation of Indian River but began helping others during his medical training, during which he completed several ophthalmology mission trips to Latin America. He is now on the board of directors for Chosen Eye Missions and makes many trips each year to perform sight-saving surgeries in impoverished areas of Central America.
Dr. Robert Reinauer is a fellowship-trained vitreoretinal physician specializing in retinal surgery, macular degeneration, and diabetic eye care at New Vision Eye Center.
IRSC Workforce Training Update
IRSC Advanced Workforce Training Complex Update
Indian River State College's newest building will be named for engineer, inventor and entrepreneur Richard H. Eastman and his family. The naming comes after Eastman pledged one of the largest gifts in IRSC history—$2 million—in support of the forthcoming Eastman Advanced Workforce Training Complex. The purpose-built facility, scheduled for a 2023 opening, will link advanced technology and leading-edge industry training in specialized technical career fields such as advanced manufacturing; automotive, aviation and marine technology; welding; heating, ventilation and air conditioning (HVAC) systems; and more.
"IRSC is grateful for Mr. Eastman's generosity and leadership," states IRSC District Board of Trustees Chair Sandra Krischke. "His gift ensures that our region can produce highly skilled labor to meet current and future needs. The advanced learning environments that comprise the Eastman Advanced Workforce Training Complex are critical for closing the regional skills gap and preparing our residents for high-wage, in-demand careers. "
It is Eastman's philosophy that by supporting the building, he is supporting IRSC students, which in turn benefits our community for generations to come.
"The Eastman Advanced Workforce Training Complex and the programs and services it will offer will help people of all ages find great opportunity in today's complex society," shares Richard H. Eastman. "It is my honor to join with President Moore and his team to help all students, no matter what circumstance they are in, and give them the skills they need to make a good living to provide for themselves and their families."
The IRSC Foundation continues to work with corporations and individual donors like Eastman to raise funds to equip the facility with the advanced technology apparatus needed to train students for these highly skilled positions.
"The Foundation continues to attract unprecedented support for its mission," says Michael Hageloh, Interim Vice President for Advancement. "As we work with donors to advance critical projects like this one, we also reaffirm our goal to meet 100 percent of qualified need for all students seeking life-changing educational opportunities at IRSC."
Construction of the 60,000 square-foot state-of-the-art Eastman Advanced Workforce Complex is underway. It is supported by Florida Public Education Capital Outlay (PECO) funds obtained with the assistance of the Treasure Coast Legislative Delegation (more than $21 million from 2016 through 2021) and $2 million secured through a federal Economic Development Administration grant.
For more information about the Eastman Advanced Workforce Training Complex or to donate to the project, contact Julia Keenan, Director of Development for the IRSC Foundation, at 772-462-7244.
Small Business Saturday
FSBDC at IRSC Promotes Small Biz Saturday
The Florida Small Business Development Center at Indian River State College announces its participation in Small Business Saturday, which will be held on November 27. Small Business Saturday is a day dedicated to supporting small businesses and strengthening communities across the country.
Created by American Express in 2010, Small Business Saturday serves as the ceremonial kickoff to the holiday shopping season for small businesses across the United States.
“We’re excited to get involved with our business communities,” said Katie Muldoon, administrative and outreach specialist for the Florida SBDC at IRSC. “Our center recognizes the importance and value of our small businesses. I am excited to see people out and about supporting our marketplace.”
The FSBDC at IRSC invites all Small Business owners to promote themselves at no-cost via their local radio show, Small Biz Florida. Those wishing to be featured on Small Biz Florida are encouraged to reach out to your local FSBDC and schedule an interview: [email protected] | (772) 336-6285
The Florida SBDC Network encourages small businesses to participate in Small Business Saturday and urges consumers to support small businesses during this day and throughout the holiday season.
The Florida SBDC at IRSC is a member of the Florida SBDC Network, a statewide service network of more than 40 centers. State designated as Florida’s principal provider of business assistance, the Florida SBDC Network provides consulting, training, and information to help aspiring and existing small businesses.
Small businesses and consumers may learn more about Small Business Saturday and how to get involved by visiting ShopSmall.com
St. Lucie County Wins Best Place to Work
St. Lucie County Earns Best Places To Work Award Fifth Consecutive Year
St. Lucie County St. Lucie County Human Resource Association, along with Personnel Dynamics Consulting celebrates 20th Annual Best Places To Work in St. Lucie County.
The program focuses on educating for improvement in the workplace and recognizing the Best Places To Work in St. Lucie County. This year the program recognized twelve employers:
Small Employers
Clear SEM Solutions
Manpower
St. Lucie County Property Appraiser
Treasure Coast Food Bank
Mid-Sized Employers
ABC Home Medical Supply, Inc.
Boys and Girls Club of St. Lucie County
St. Lucie County Clerk and Comptroller
St. Lucie County Tax Collector
Large Employers
A-1 Roof Trusses
City of Fort Pierce
Fort Pierce Utilities Authority
St. Lucie County Fire District
Extra-large Employers
City of Port St. Lucie
St. Lucie County Board of County Commissioners
St. Lucie County Public Schools
Walmart DC 7038
The St. Lucie County Human Resource Association has been commissioning Personnel Dynamics Consulting of Fort Pierce, to calculate turnover rates, growth percentages, employee development spending, promotion percentages, insurance packages, and retirement plans; a total of 37 different measurements to determine the St. Lucie County’s Best Places To Work.
This program is free to all St. Lucie County employers. Participating companies were required to answer a 40-question survey about their organization. Every company will receive a detailed personalized report documenting the results of the survey and samples of some of the best practices used in St. Lucie County to attract and retain their workforce. If you would like a copy of the survey or would like to inquire about participating next year, please contact St. Lucie County Human Resource Association at (772) 200-6610.
The St. Lucie County Human Resource Association is the local chapter for the Society for Human Resource Management (SHRM). The association became an affiliate chapter of SHRM in 1986 with the purpose of bringing together human resources professionals. The goal of the association is to promote a high standard of excellence for human resources practitioners in the St. Lucie County area through the following activities: professional development, networking opportunities, current events, and community involvement. To learn more about the St. Lucie County Human Resource Association visit the website at http://stluciehr.com
Fort Pierce FPRA Commercial Façade Grant
The City of Fort Pierce Launches FPRA Commercial Façade Grant
The City of Fort Pierce announced the launch of the Fort Pierce Redevelopment Agency (FPRA) Commercial Façade Grant. The pre-application period is now open until November 24, 2021. The intent of the Commercial Façade Grant Program is to support the revitalization of the commercial corridors in the FPRA district by stimulating private investment in improvements that enhance the appearance of buildings and properties and eliminate blight and non-conforming design standards. This program is designed to encourage redevelopment of the FPRA by enhancing its visual aesthetics which will lead to increased property values, tenant occupancy, economic development, and job creation.
The grant is a reimbursable dollar-for-dollar matching grant up to $25,000. To be eligible the building must be located within the FPRA District and be commercially zoned. To apply and for a complete list of eligibility requirements, please visit:
https://choosefortpierce.com/969/FPRA-Incentive-Program
This will be the first of several grants that were recently approved by the FPRA Board.
To request a paper application in person or in the mail, or for more information about the Commercial Façade Grant program, please call 772-465-4170 or email [email protected]
SBA Announces Signature Lending Programs
SBA Administrator Guzman Announces $44.8 Billion Through Signature Lending Programs
In fiscal year 2021, 7(a) and 504 loan programs provided more than 61,000 loans, but gaps in access to capital for underserved communities remain
On October 29, 2021, U.S. Small Business Administration (SBA) announced they have reached $44.8 billion in funding to small businesses through more than 61,000 traditional loans for fiscal year (FY) 2021.
“In the midst of a once-in-a-generation pandemic, the SBA’s mission-driven team delivered a record number of SBA’s traditional loans to our nation’s small businesses – in addition to more than $1.1 trillion in COVID-related relief since the start of the pandemic,” said SBA Administrator Guzman. “While progress has been made, our data also tells a deeper story: historic inequities in accessing capital persist, and we must do more to lower the barriers of entry to opportunity for all our entrepreneurs. We will continue to build on our impactful programs to meet small businesses where they are and connect them with the resources needed to thrive.”
“The SBA continues to make headway in helping small businesses access much-needed capital, but much more work remains to be done,” said Patrick Kelley, Associate Administrator for the Office of Capital Access. “Our flexible, low-interest 504 loan program grew in loan volume by 41%, and the SBA team is already at work for the fiscal year 2022 to support job and entrepreneurial growth across the country.”
Addressing Equity Challenges That Persist Throughout the Small Business Economy:
Despite significant progress in its traditional lending programs, the agency is acutely aware of gaps that persist for certain communities in accessing capital. The SBA’s existing loan programs serve an important role in credit markets for small businesses, particularly those with collateral and demonstrated revenue that are denied a loan by a commercial bank or often lack relationships with established lenders.
Over the past five years, loans issued to the smallest borrowers through the SBA-backed 7(a) loan, Express, and Community Advantage decreased by over 45%. However, the decline in the proportion of small-dollar loans is not unique to SBA loan portfolios. Federal Deposit Insurance Corporation (FDIC) data on commercial small business lending by regulated banks shows an overall 3% decline (translating to over 600,000 loans) in the proportion of loans under $100,000. This lack of small-dollar loan appetite from lenders has led to disproportionate impacts on minority business owners. Firms with non-Hispanic Black ownership and firms with $100,000 or less in revenues were only half as likely as firms with non-Hispanic white ownership to obtain bank funds (23%, 24%), and Latino-owned firms were similarly lower (34%).
Addressing the systemic gap in access to capital for the smallest and underserved businesses has been Administrator Guzman’s north star and will continue to be a top SBA priority in FY 22 and beyond.
For more information about SBA’s loan programs, financial assistance, and other services, visit www.sba.gov.
Treasure Coast Business Newsletter 9.7.21
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5K event is newest addition to Hunger Action Month
5K event is newest addition to
Hunger Action Month
Treasure Coast Food Bank will hold its inaugural Out Run Hunger 5k, a family-friendly event to support programs for children, families and seniors. It takes place on Saturday, Sept. 18 at Causeway Cove Marina in Fort Pierce.
As part of Hunger Action Month, Out Run Hunger provides another way for people to help those often facing impossible choices to make ends meet.
“September is Hunger Action Month. It’s a time when we ask everyone to think about our neighbors who often have to make impossible choices, such as buying food or paying the electric bill,” said Judith Cruz, President and CEO of Treasure Coast Food Bank. “Out Run Hunger is one more way that adults and children can take action against hunger.”
The race site offers a flat and fast course, perfect for runners of all levels. All participants will receive a t-shirt and finisher medal. The race will be managed and chip-timed by Southern Timing LLC., and awards will be given to the top three male and female overall finishers and top finishers by age-group.
Dunkin’ Brands is the presenting sponsor of the inaugural Out Run Hunger. Packet pick-up takes place the night before the race at Cobb’s Landing, which is partnering with Treasure Coast Food Bank for the event. Natalie’s Orchid Island Juice Company and ReadyRefresh® will be providing drinks for the event. Learn more or register at stophunger.org/event/out-run-hunger/.