In this episode of The NonProfit Nook, host Wendy Kidd is joined by Andrew Lee from First United Bank to discuss the importance of cultivating strong relationships between nonprofits and their banks. With nearly 18 years of banking experience, Andrew highlights key benefits and strategies for nonprofits, emphasizing the importance of open communication and understanding the organization's needs. He also shares practical advice on financial management, internal controls, and common mistakes to avoid. This episode provides valuable insights for nonprofit leaders seeking to strengthen their financial foundation.

Links:

Andrew’s LinkedIn: https://www.linkedin.com/in/andrew-l-b360892b?utm_source=share&utm_campaign=share_via&utm_content=profile&utm_medium=ios_app

https://www.bosslevelengaged.com/services-for-nonprofits-nonprofitnook

https://thenonprofitnook.com/

https://www.youtube.com/@BossLevelEngaged

00:00 Introduction to Open Communication in Nonprofits

00:21 Welcome to The NonProfit Nook

01:05 Introducing Andrew Lee from First United Bank

01:50 Building Relationships with Your Banker

03:54 Benefits of Having a Go-To Banker

06:09 Common Mistakes Nonprofits Make

13:34 The Importance of Internal Controls

18:24 Key Moments to Consult Your Banker

18:54 The Role of Community Banks

20:13 Identifying Green Flags in Banks

21:38 Purpose in a Pocket: First United's Community Commitment

23:04 The Importance of Nonprofit-Banker Relationships

29:04 Supporting Small Nonprofits

30:32 Final Thoughts and Encouragement

32:31 Conclusion and Contact Information

Mentioned in this episode:

Enji

Benevolate

You know, I think the biggest thing you can say to a nonprofit is don't

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be, don't be afraid of open communication.

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Don't be afraid to ask

those hard questions.

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Um, just come in and

let's have a conversation.

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If you leave without opening an account,

if you leave without, even if, if you took

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something away from that, that meeting

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mm-hmm.

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Then we have, we have done our job.

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Wendy Kidd: Welcome to The NonProfit

Nook, the podcast for nonprofit

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leaders, board members, and community

change makers who want to build

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stronger, smarter organizations.

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I'm your host, Wendy Kidd, a longtime

business owner and nonprofit leader.

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And I'm here to bring you real talk,

real tools and real stories to help

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you thrive in the nonprofit world.

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I'll be talking with local nonprofit

leaders, community change makers,

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and experts in everything from board

development to fundraising and digital

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tools, sharing real stories and simple

strategies you can actually use,

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because running a nonprofit is hard,

but you don't have to do it alone.

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Let's get started.

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Today I am excited to welcome

Andrew Lee with First United Bank.

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Andrew has nearly 18 years of experience

in banking and has spent the last

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seven years with First United leading

retail banking across DFW markets,

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including McKinney and Denton.

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He holds an MBA from Texas A&M

University, Texarkana, and is deeply

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committed to leadership and service.

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Andrew has served as treasurer

for Volunteer McKinney for three

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years and for the Melissa Chamber

of Commerce for four years.

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And he's completed the Foundational

Leadership Course through

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Stagen Leadership Academy with a

passion for mentoring, community

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impact, and developing people.

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I'm excited to have Andrew on the podcast.

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Welcome, Andrew.

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Andrew Lee: Well, thank you for having

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Wendy Kidd: me.

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Oh, of course.

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Yeah.

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I was so excited when you said yes.

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Andrew Lee: I was so excited when

you offered for me to come on.

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That's

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Wendy Kidd: fantastic.

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Yeah.

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Well, uh, I asked you on, and I

just so you know, you listeners know

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I asked Andrew on, because I feel

like there's a disconnect sometimes.

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Mm-hmm.

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With.

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Nonprofits understanding how to have

a good relationship with a bank and

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what that kind of brings to the table.

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Uh, you know, as a small business

owner, we're taught to, to have that

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relationship and what the perks and

the businesses are and you know how to

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go about it and what banks are good.

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But I don't think nonprofits are really.

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Educated on that, so I'm so happy

you're here to do some of that today.

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Well, thank you.

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Thank you.

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Thank you.

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Yeah.

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Andrew Lee: Happy to talk about it.

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Wendy Kidd: Well, okay,

so let's, let's jump in.

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Okay.

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So then when people here build a

relationship with your banker, what does

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that actually look like in real life?

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For a nonprofit,

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Andrew Lee: I mean, for anybody.

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I mean, not, not just thinking

out a nonprofit, it's just

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getting to know who they are, you

know, who, who they're serving.

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Um, what they are as an

organization, whether it's a

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business, a person, or a nonprofit.

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Um, we want to know who you are

and like build that relationship.

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We're a relationship type bank, so Right.

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It's not

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Wendy Kidd: just a transaction

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Andrew Lee: and it's

not just a transaction.

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Yeah.

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And that would be the, the

transaction will be the last

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thing that we, that we would say.

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Yeah.

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Wendy Kidd: Yeah.

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I mean, how do you, how do you go

about building that relationship?

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Andrew Lee: It's about sitting down

and listening to the person and get

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to, getting to know where they are.

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Mm-hmm.

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We wanna know all about your organization.

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The, when we invite you in it is

basically to get to know who you are.

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Yeah.

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Get to know what your nonprofit serves.

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Um, what are you gonna do

for the, for the community?

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Um, that's what we want to hear.

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It.

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We, we will talk about banking,

but that's the, that's gonna be at

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the back end of the conversation.

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Wendy Kidd: Yeah.

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So red flag, if your banker

is not inviting you in

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Andrew Lee: Yeah,

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Wendy Kidd: that's a red flag.

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We're

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Andrew Lee: coming to you.

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We're inviting you in.

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We are, because our bank wants you

to be, we want you to immerse into

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the experience of the bank, but.

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We're gonna invite you in.

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We're going, we're going to come to you,

whatever makes whatever is best for you.

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Mm-hmm.

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Yeah.

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The, the customer, the, the

nonprofit, whoever it is.

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Wendy Kidd: Yeah.

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So what are some of the biggest ways a

nonprofit kind of benefits from having

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that go-to banker, that person that,

you know, like me, I could text you.

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Yeah.

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What, what's the benefits that they

can think of texting, you know,

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Andrew Lee: like, you know,

that's, that's a one benefit.

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I actually wrote that down.

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Um, is.

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Texting your banker, getting, having

that connection, having being able

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to ask those questions that you're

afraid that you can't walk into, you

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know, a bigger bank and say, Hey,

you know, like, what about this?

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You bouncing those ideas off of them,

you know, saying, Hey, you know,

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I, I don't have a lot of money, but

we're, we're just getting started.

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You know, those type things

like where you really want to

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ask and peel back those layers.

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Yeah.

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We are the bank to do that with

because we're, we're not scared for

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you to ask those questions, you know?

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Right,

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Wendy Kidd: right.

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You know, I like, I, I can say

this because Andrew and I have this

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relationship, but I'll be like, Hey,

I can't figure out, do you guys take

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Zelle or how do I do this on the portal?

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But, you know, I think it goes

so much further than that.

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Like you said, it's, you know,

we can come to you with Yeah.

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I've, I've had a cashflow problem.

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What do I do?

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Yeah.

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Uh, I've had, I, I've had this

opportunity, but I don't know

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how to take advantage of it.

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Mm-hmm.

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Or do you know a better way that I can

manage my money so I'm reporting it

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correctly, you know, things like that.

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Andrew Lee: Definitely like

we, we have those solutions

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in everything you just said.

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Yeah.

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Um, whether it's like you, you

have a cashflow problem and we need

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to sit there and work through it.

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Like, where is the problem?

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Let's sit there and dissect, you

know, where your money's going.

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Yeah.

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You know, like a lot of, a lot of

nonprofits especially don't really know

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where they're spending their money.

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No.

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And like, is there a solution that

could really benefit them better?

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Yeah.

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Uh.

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Not even, is it just the software

they're using or just, or the tools that

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they're using, but like where, like,

or could there be a, is there, is, is

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there something that could be changed

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mm-hmm.

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Within their, their ecosystem

that could, you know, really?

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You know, save them, save them

money, or even make them more money.

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Wendy Kidd: Yeah.

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Well, and I, I think a lot of people

in nonprofits when they first get

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started, they also have no idea if

they have never owned a business.

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They have no idea what banking

looks like for a business.

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No, no.

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Or much less a nonprofit.

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So what's some of the common,

well, there's some of the

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mistakes that people make.

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Andrew, tell

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Andrew Lee: us a little bit about team.

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I think going too fast.

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Mm-hmm.

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Going way too fast.

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Um, wanting to grow too fast.

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Mm-hmm.

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There's nothing wrong with growing slow.

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There's nothing wrong with that.

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Um, I think taking baby steps,

really doing your research.

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Um, many times I, you know, have

seen a lot of nonprofits that the,

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the passion outweighs all the,

everything else, which is great.

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Don't lose that passion, but you

gotta understand how to make that

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work for you because your passion

could get you in trouble sometimes.

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Um, truth happens to all of us.

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It happens to all of us.

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It does.

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I mean, like, I, you know, will

be the first to tell you I get.

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Gungho, I have an idea, I run for it, and

then I gotta like, oh, I gotta slow down.

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I gotta make this happen.

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I've gotta like really slow down and

really see how this can be a reality.

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Yeah.

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You know, like I want it to happen

in a year, but is it feasible

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for my organization, for my

nonprofit to be done in a year?

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Yeah.

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So I mean, the second thing

I would say is communication.

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Having those open conversations with your

ins, your banking institution, because we

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have so many resources that we can plug

you into that could really benefit you

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conversations with other local nonprofits.

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Sure.

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Um.

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Having worked with other nonprofits

and kind of like telling, telling them

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like, you know, what has worked and what

hasn't worked, uh, what we've seen, what

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works in the market that they're in.

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Mm-hmm.

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Who are they serving, you know?

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Mm-hmm.

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Is, are, do they, do they, is

that nonprofit oversaturated in

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this market, but not over here?

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You know, we're, my bank

is spread out through DFW.

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Different, different markets

serve different types of non,

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uh, different nonprofits serve

different types of clientele.

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Like, you know, Dallas is a little

bit different than McKinney.

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Um, so I see it all.

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Yeah.

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You know, I've, I've, like I said, you

said earlier, I've served both in the

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Denton and McKinney markets completely

different over there in, in Denton.

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Oh yeah.

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Similar but different.

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Yeah.

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You know, um, university town, uh, you

know, different things we're serving.

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Um, so.

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You've gotta really ask those questions.

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Mm-hmm.

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Communicate with your banker,

having that open dialogue.

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Wendy Kidd: Yeah.

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That's, don't be afraid.

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Don't, don't be afraid

to come to the bank.

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They've seen it all folks.

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They've seen it all.

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We've seen it all.

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The good, the bad, the

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Andrew Lee: ugly.

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You should not be afraid to ask.

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And, and, and if you are afraid, if you

feel, if you feel like you can't ask those

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questions, you're not at the right bank.

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Wendy Kidd: Yeah.

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Andrew Lee: You're not at the red bank.

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Wendy Kidd: Yeah.

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For sure.

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Yeah.

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So are they, and I know that I didn't

give you this question beforehand,

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so I'm asking you on the spot.

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So who are they looking for at the

bank to develop a relationship?

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What kind of job titles are

they looking for at their bank?

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Who should they be talking to?

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Andrew Lee: I mean, my, my staff.

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I want, I want them to be your go-to.

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I want myself, I want my spend

life wisely, ambassador Denise.

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Mm-hmm.

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I want anybody that you

walk into the lobby.

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I want them to feel like family.

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Mm.

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Okay.

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Uh, and

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that's, that's, that's how I,

you know, coach my bankers,

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um, to, to be, be a family.

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I want them to know you by name.

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Mm-hmm.

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I want you to come in.

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I want them to be like, if I'm not there.

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Oh, I'm gonna go talk to so and so.

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Wendy Kidd: Right.

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You know?

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Right.

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Andrew Lee: And they're, and

they're gonna take care of me.

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I, you know, that's, I

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Wendy Kidd: think that's a good

tip because there's so many times

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you walk into these banks and you

don't, you don't know who they are.

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If you don't, if you don't know the

person who you're trying to talk to.

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Mm-hmm.

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Or if you don't know what product

specifically it relates to, they

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kinda look at you like, well

then who do you wanna talk to?

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Andrew Lee: We, we have at

our bank, we, they're called

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relationship bankers for a reason.

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Not even on the lend, not e,

not even on the retail side.

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It's, it's on the lending

and the retail side, both.

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Mm-hmm.

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It, we are re a relationship type bank.

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We want to get to know you

on that level to where Yeah.

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We know what your banking situation is.

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Yeah.

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But what else is going on in your life?

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Wendy Kidd: Yeah.

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Andrew Lee: What, how, how does

your business running, you know,

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how can we support you as a whole?

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Wendy Kidd: Yeah.

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Andrew Lee: Because that's who we are.

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Wendy Kidd: Yeah.

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So, okay.

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I'm gonna ask you to, to

spill a little t Okay.

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And, and tell me some mistakes

you've seen people make that

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could have been prevented.

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Andrew Lee: Oh

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Wendy Kidd: my gosh.

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Andrew Lee: Um,

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Wendy Kidd: goodness.

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I mean, I can throw some

at you if you want me to.

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Oh, throw 'em at me.

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Throw

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' Andrew Lee: em at me.

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Yeah.

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I've probably seen them,

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Wendy Kidd: I mean, I, something that

I have seen a lot in nonprofits, Uhhuh,

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if they don't have a clear process

as to who should be the signer, who

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should have access to the accounts.

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Andrew Lee: You, you need to

really have that again, back to

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a conversation you have with your

banker or within your organization.

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You should know who's gonna

be on there beforehand.

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Yeah.

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If you're new, I get that you're

probably not gonna weed that out.

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That is a conversation that you

can have with me and saying, Hey,

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this is traditionally what I see

in an organization, your size.

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You're, um, but, and

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Wendy Kidd: I think that

the experience is valuable.

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It very valuable, especially because

they don't know what should be.

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So they could come to you and

they could say, Hey, oh yeah, who

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should be signers on my account?

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You know, I, I think another thing

that I see is they don't have any

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kind of idea how to use the accounts

correctly to bank professionally.

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I should put it that way.

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You know, they commingle their funds.

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They, yes.

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They just have one checking

account they use for everything.

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There's no such thing as a

savings account, you know?

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Andrew Lee: I've seen a little bit

of everything, um, in that regard.

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Um, it's nothing wrong with having one

account, but when you get to a certain

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level and you start getting in donor

checks and you're starting to get in,

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like grants and all that type, and

you start co-mingling those funds,

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you really need to educate yourself

on, like, especially for grants.

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I mean, you have to, you have to

certain, certain types of grants.

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Not all grants, but you have to use

that money in a, in a structured

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way specified by the grant.

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Wendy Kidd: Yes.

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Andrew Lee: And so.

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That's, that's a conversation that in

a way you need to educate yourself.

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Yeah.

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Because, so I always try to

let people know, I said, Hey,

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don't convolute those funds.

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Try to, you know, make sure that you

have a separate account for that.

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'cause it's easier tracking for yourself.

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Right.

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Of course.

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You, as you as the, um, nonprofit

have ability to do what you want.

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I'm only suggesting Yeah.

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You know?

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Yeah.

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I'm only giving my

guidance to what I've seen.

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Sure.

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Um, you know.

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Payroll should not be running out of

just a general account that you're, that

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all of your purchasing is coming from.

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Wendy Kidd: Right.

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It should be a

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Andrew Lee: separate account.

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It should be separate.

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I, I, I'm just, that's just my suggestion.

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Wendy Kidd: What are some other

separate accounts that they should

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have since we're on the topic?

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Andrew Lee: Uh, programs, programming.

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Mm-hmm.

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So if you're, if you're holding events,

um, should have its own special, special.

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I, I would suggest that.

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Mm-hmm.

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Uh, operating account is one thing

and everything can funnel through

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the operating account into the

other accounts, but divide it up.

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Make it easier on yourself.

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Yeah.

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I know.

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It's having extra accounts

seems like a lot of work.

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It's gonna, at the end of the year

when you're, when you're doing your

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books and you're doing all that stuff,

it is going to simplify your life.

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Wendy Kidd: Yeah.

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Well, and it's also easier for your

grant tracking because if you have

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a hundred percent a restricted grant

that can only go to these services.

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Then it should be, there should be

an account for just those services.

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So you know, nothing else

is hitting that grant money.

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Andrew Lee: Exactly.

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Wendy Kidd: Makes it way easier.

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Andrew Lee: Then if you have it

commingled with your operating

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account, it's, it's gonna be a lot.

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Because speaking like for me

from as a, as a treasurer for two

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different organizations, it's hard

to differentiate what's this, the.

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Was this funds for this event

or was this just general funds?

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Yeah.

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You know, it's, it makes my

life harder as a treasurer.

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Yeah.

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Uh, especially if I'm the one

looking at the books every month.

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Wendy Kidd: Yeah.

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Well, and let's lean into your

treasure experience for a second.

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Okay.

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So, talk about internal controls.

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So things like who should

be able to sign checks?

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What limits do you see when people

have to have double signers on checks?

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What are some of the internal practices

of a nonprofit when it's a treasurer role?

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Mm-hmm.

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That you see to help manage money wisely.

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Andrew Lee: I think you should, you as

the treasurer, should not be afraid to ask

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the question, where's this money going?

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Absolutely.

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Like, why are we, why are

we spending this much money?

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Um, that is really, and truthfully,

my job is, is, is checks and balances.

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Mm-hmm.

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Um, I may not be the one on the day-to-day

like seeing like every little transaction,

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but I'm gonna look at it at the end of

the month and I'm gonna say, okay, did we

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really need to spend this amount of money?

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On this?

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Yeah.

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Or could we have done this?

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Yeah.

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Could

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we have had a conversation prior to that?

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Don't be afraid.

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Um, I know a lot of us, and especially

myself, I'm, I'm, I'm a board member.

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Yeah.

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Um, I'm not in the day-to-day

weeds of the organization.

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Um, but sometimes you need, need

to kind of take a, take a minute.

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Invest a little bit into what

you're signing up for and that

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board position and say, Hey, don't

be afraid to ask those questions.

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Yeah.

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Like it, because sometimes

you can expose red flags.

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Yes.

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Um, situations that you know, you need,

that need to kind of be peeled back.

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Um.

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And things that you can circumvent

from happening and becoming a,

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a bigger issue down the road.

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Wendy Kidd: Right.

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And I think that it's important because

I think a lot of people are like, oh

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gosh, I don't want her to feel like I'm

questioning how she's doing her job.

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No, but that's not the

point of the question.

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No.

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The point of the question is, are

we managing our money efficiently?

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Andrew Lee: Exactly.

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You

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Wendy Kidd: know?

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Yes, of course.

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You could re reveal fraud

with your questions.

433

Mm-hmm.

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99% of the time, that's

not what's going on.

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No.

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If somebody didn't understand how to use

the money correctly, or they took it out

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of the wrong AC account unexpectedly.

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Yeah.

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Or something simple.

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But you as the treasurer,

kind of the buck stops here.

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You know, because that's, that's

why we need the treasurer.

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We need that second set of eyes.

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Yeah.

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It,

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Andrew Lee: it's.

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You know, at the bank we try to,

like when the, we teach your bankers,

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it's counting cash three times

when it comes outta the machine.

448

When you go back to the cu to

yourself and back to the customer.

449

Mm-hmm.

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So it's just a checks and the balances.

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You need to review it, someone needs

to review it like your ED or whoever is

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running your organization or the board.

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Everybody needs to check it needs

to touch three PE different people.

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Wendy Kidd: Yes.

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Andrew Lee: I think because

it's a checks and balances.

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Wendy Kidd: Yeah.

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It's

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Andrew Lee: not our money,

it's the organization's money.

459

Wendy Kidd: Yeah.

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Andrew Lee: And we wanna be

good stewards of that money.

461

Sure.

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And we want to make sure that, you know,

we're doing what the, the best thing.

463

Again, communication.

464

It's having that conversation, not

being afraid to have that conversation.

465

Um, having a good relationship

with your bank is also an another

466

reason, you know, to help kind

of circumvent some of that stuff.

467

Wendy Kidd: Absolutely, yeah.

468

It's, it's just about being, having

that fi fiduciary responsibility.

469

Exactly.

470

Right.

471

So what, what else do you kind

of see, um, from a, a treasurer

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role, internal controls wise?

473

Like, um, you know, what, what do

you typically see who typically has

474

access to the mink account directly?

475

It's

476

Andrew Lee: usually your president.

477

Mm-hmm.

478

Your, um, your ed of course.

479

Mm-hmm.

480

Um, and then your treasurer.

481

Okay.

482

Um, sometimes they'll put like a vice

chair on there just because they, the

483

president's not always, um, has access.

484

Mm-hmm.

485

Or the time to get up there.

486

Excuse me.

487

Uh, some organizations, um.

488

Want that flexibility to where they

don't have to always be the one.

489

Wendy Kidd: Right.

490

Andrew Lee: Um, a lot of people

put limits on the amounts.

491

Mm-hmm.

492

So that's another thing.

493

Mm-hmm.

494

Uh, some people like you can

spend up to $2,000 after that.

495

It's two se two signers.

496

Yeah.

497

Um, if it's a special event,

they, they lay it out.

498

They, you know, and we put, we

put those notes on the account.

499

We, we, we structured however

they feel best to do it.

500

Mm-hmm.

501

Um.

502

But then it's, it's in, it's in

the organization's hands basically

503

how to, how they want that done.

504

Wendy Kidd: Right.

505

You know?

506

Well, and I've also seen, like some

of 'em, the treasurer will have

507

access to view, but they won't be a

signer on the account because that

508

way it's never questioned whether the

treasurer did that transaction or not.

509

Exactly.

510

They're simply there to review it.

511

Andrew Lee: Yeah, that's true.

512

Um, you could, I've seen both ways.

513

Mm-hmm.

514

Um, where you've had access to everything.

515

Uh, you could move money,

do things like that.

516

Um, just because.

517

You are kind of like, but

doing the, depending on how

518

hands on you want to be Yeah.

519

And

520

how your organization is set up,

um, and how big or small it is.

521

If you are just the treasurer and you're,

and you are of a bigger nonprofit, I

522

would highly suggest you just having

view access, printing the documents,

523

reviewing it, giving your notes.

524

Yeah.

525

And going from there.

526

Wendy Kidd: Yeah.

527

Okay.

528

So, uh, what are, what are some.

529

Moments.

530

So what are some big events or moments

that might cause you to wanna talk

531

to your banker before you do it?

532

Andrew Lee: In what regard?

533

Wendy Kidd: So, like, if I am

gonna hire my first employee.

534

Okay.

535

I reach out to my banker,

536

Andrew Lee: I mean Yeah.

537

If they're your person, your kind

of your go-to person, like your,

538

for your finance type questions.

539

Mm-hmm.

540

If you don't have a financial

planner or something like that.

541

Mm-hmm.

542

Yes.

543

Please call your bank, let

us, let us help you out.

544

Yeah.

545

As much as you can, like.

546

I mean, we have nonprofits that, you

know, have eds, they have a staff.

547

Uh, we all the way down to people

that are running just on a board.

548

Yeah.

549

Uh, with no staff, no hardly

any overhead, you know?

550

Yeah.

551

Um, so you really need to see if

you can't afford it, you know?

552

Yeah.

553

I mean, I'm not gonna sit there

and tell you no to something.

554

It's your organization.

555

At the end of the day, you know,

I'm gonna make suggestions, you

556

know, I'm gonna be your guide.

557

Mm-hmm.

558

But I don't, but, you know, our ba our job

as bankers is to help you be successful.

559

Right.

560

And so we're gonna have those tough

conversations with you, but at the

561

end of the day, that's your decision.

562

Wendy Kidd: Well, and I think that's,

that's kind of the point, right?

563

Is if they have that

relationship with their banker.

564

Exactly.

565

Andrew Lee: They're not gonna

be afraid to ask the question.

566

Yeah.

567

Wendy Kidd: Don't be afraid

to ask the question and lean

568

into that banker's experience.

569

Mm-hmm.

570

Because they can absolutely tell

you without revealing names.

571

Yeah.

572

Yeah.

573

What other people have

done in this scenario,

574

Andrew Lee: we can give, we

can give you guidance, we can

575

guide you, um, you know, if.

576

We're, they're a true community bank.

577

If they've been, if they've been involved

in the community and they have those

578

relationships built up, they know what

organizations have done and been through.

579

And, you know, all we're there is

just kind of share feedback and,

580

you know, help you, help guide you.

581

It's, it's guidance.

582

It's Right.

583

Basically what it is.

584

It's a conversation and guidance.

585

Wendy Kidd: Right.

586

Andrew Lee: Yeah.

587

Wendy Kidd: So we've, we've talked

a little bit about red flags.

588

Yeah.

589

But what are some green flags people

should look for in their banks?

590

What do they, when they're shopping for

that bank, what do they wanna look for?

591

Okay.

592

Andrew Lee: The biggest thing I could say

is that bank immersed into the community.

593

If you are out in the community, do you

see that bank's name as a sponsor as, or

594

are they in, are they part of the event?

595

Are they participating?

596

Because if they're not.

597

I'm, I, I, it's just, to me it's

just like, okay, they're just

598

putting their name up there for

a ch just for a sponsorship.

599

Wendy Kidd: Well, I think it's a good

point though, because basically if they're

600

not out in the community, if you don't see

them already working with nonprofits Yeah.

601

How are they gonna have the

experience to help guide you?

602

Andrew Lee: Exactly.

603

And are they there?

604

Yeah.

605

Like in the, there's so many nonprofits,

or I mean like organizations there,

606

I mean, there's so many banks

that will come out and they will.

607

Say they're there, but they're not there.

608

Yeah.

609

They're their, their

names not really there.

610

Their name's on the wall,

611

you know, and Great, they cut

a check, it's great, but what

612

else are they doing for you?

613

Wendy Kidd: Yeah.

614

Andrew Lee: You know, are they

inviting you into their space?

615

Are they having those deep

conversations with you?

616

Are they trying to say, Hey, this may be

a no right now, but let's get you to that.

617

Yes.

618

Wendy Kidd: Yeah.

619

Andrew Lee: You know,

620

Wendy Kidd: love that.

621

Andrew Lee: You know,

let's get you to that.

622

Yes.

623

Let's work with you.

624

Um, because that's who we are.

625

We're here to serve the community.

626

We have, we have, um, what's

called, uh, I love this.

627

We call it purpose in a Pocket Check.

628

Check this out.

629

Um, first, first United has this.

630

Little, uh, purpose in a pocket

trifold, uh, purpose in a pocket.

631

Wendy Kidd: Love it.

632

Andrew Lee: And, and it has

our serve model on it and

633

how we serve the communities.

634

I mean, our CEO Greg Massey,

uh, his vision for 10 years is,

635

is to serve 10 million lives,

is to give back to 10 million.

636

We've already exceeded that.

637

And we're we're, I was gonna say,

you have to, we're, we're well into,

638

I, I don't even know right now Yeah.

639

Where we're at, but we're, uh.

640

And so we're giving back to our

communities in these four ways

641

of faith, financial, wellbeing,

health, and personal growth.

642

'cause if we build, if we build, we feel

like if we can give back in these four

643

ways, we can build a stronger community.

644

I love

645

that.

646

So

647

if your bank is doing that, investing

into the community where they're go

648

be, they're participating, they're

showing up, they're, they're going

649

to the, you know, local toy drive.

650

They're going to the, you know,

they're collecting canned goods.

651

They're, they're showing up for the,

that nonprofit, you know, not just

652

cutting the check, but showing up

for them, handing out, handing out

653

the food, doing whatever they can.

654

To help that organization grow.

655

Mm-hmm.

656

Not just past the checking and the savings

account and the whatever, but what can you

657

do for them to help them grow past that?

658

Right.

659

It's a relationship.

660

It's not just, we're not just

here for the, you know, to collect

661

interest or whatever it is.

662

We're here to.

663

Help you succeed.

664

Wendy Kidd: So, green flags, let

me make sure I'm summing this up.

665

Mm-hmm.

666

And we didn't miss something.

667

So, green flags are, are

they in the community?

668

Mm-hmm.

669

Are they present?

670

Andrew Lee: Yes.

671

Wendy Kidd: Are they

actually volunteering?

672

Are they serving out

there in the community?

673

Yes.

674

Are they inviting you to their space,

inviting you to get to know them?

675

What, what else did I miss?

676

Something?

677

Andrew Lee: I mean, I think

those are the, I think those

678

are, those are the main three.

679

Yeah.

680

I think those, I think those are the

things because you know, at First United,

681

we have these rooms called the, uh.

682

Community rooms.

683

Yes.

684

Um, we are actually about to

have one built over at Red Bud.

685

It's hopefully it'll be done next month.

686

Fingers crossed.

687

Well, this is

688

Wendy Kidd: gonna come out in January.

689

So in January.

690

Hopefully when this comes out,

Uhhuh, the community room is open.

691

Oh,

692

Andrew Lee: yes, please.

693

Everyone come see it.

694

Yes.

695

It's, uh, my friend Denise

and I, uh, who works with me,

696

been life wisely Ambassador.

697

Um, we've been waiting

patiently, eagerly It's been a

698

Wendy Kidd: little on the struggle bus.

699

Yeah.

700

Or

701

Andrew Lee: we excited instruction people

'cause that, because that room is kind of.

702

One of the things that makes us who

we are as a bank, because it's at the,

703

it's a where we're coming to you and

seeing, meeting you where you're at.

704

Mm-hmm.

705

We're also letting you

come into our space.

706

And letting you take a piece

of First United With you.

707

Yeah.

708

And letting you use First United as

far as like our room, you know, you've

709

been in our lobbies and seen like

the, the giveaways that we give away.

710

Yeah, yeah.

711

You swag with, with our pillar wall.

712

Little bank with swag.

713

Yeah.

714

We, I mean we, we, that's other

ways that we can give back.

715

It's, yeah.

716

It's a book.

717

It's a giveaway, but.

718

It's to enrich lives.

719

Yeah.

720

You know?

721

Yeah.

722

And that, and that space for nonprofits

is, is, is major because not only

723

is it a, is it a, not only is it

a room, but it's a space for that

724

not, some nonprofits don't have.

725

Wendy Kidd: Right.

726

Andrew Lee: You know, they can

hold a small little, get together a

727

lunch and learn, um, you know, board

728

Wendy Kidd: meetings.

729

A

730

Andrew Lee: board meeting.

731

Yeah.

732

Yes.

733

Um, uh, it's gonna have a space

to where you, to be able to.

734

Serve lunch if you want to

have a all day event, you know?

735

Uh, so it's a great place.

736

Our Craig Ranch location has one.

737

Most of our locations

here in DFW have one.

738

Um, so if you're hearing this and

you're not in McKinney or, um, and

739

you want to, to come talk to me, you

know, we will get you set up with one.

740

Wendy Kidd: I love that you guys provide

the space free of charge to nonprofits.

741

Yes.

742

I mean, I know it's not

like a space for a gala.

743

It's not like huge.

744

No, but it is.

745

It, it's a great space.

746

That allows them to grow.

747

Yeah.

748

Like you said, and I, I love that you

guys also hold free education Yes.

749

For nonprofits in these.

750

Um, I I think that's another green

flag for people to look at is Yes.

751

Is your bank looking to educate you?

752

Andrew Lee: I have a passion around

financial literacy and helping people

753

get back on track because I know it's,

it's, it's something that we need today.

754

We needed it yesterday.

755

Kids needed it way back when.

756

Um.

757

And so I want to make sure

that we have those classes.

758

So I'm gonna be teaching

two of those next year.

759

Wendy Kidd: Wow.

760

Um,

761

Andrew Lee: here.

762

Wendy Kidd: That's awesome.

763

Yeah.

764

Yeah.

765

So, you know, I, I think that.

766

We all know the red flags.

767

Yeah.

768

We all know the red flags.

769

When they aren't getting back

to you, they don't talk to you,

770

they don't mentor you in any way.

771

Mm-hmm.

772

When you walk into that lobby and

you don't know who to talk to.

773

Andrew Lee: Yeah.

774

Wendy Kidd: I mean, I've been, how,

775

Andrew Lee: how many of us have gone

into a bank and there's no one in

776

there and it's just a machine and

a corner and it's like, oh my gosh,

777

Wendy Kidd: they're all scaling down.

778

Oh, I know.

779

It's, they don't even

have tellers anymore.

780

It's, it's like you have have to go

to the ATM to do a zoom call with a

781

teller somewhere else in the country.

782

Oh my

783

Andrew Lee: gosh.

784

I've, I walked, I don't

even know what bank it was.

785

I walked in there and I was like,

I was like, no, I can't do this.

786

Wendy Kidd: Right.

787

Right.

788

So, okay.

789

I don't know

790

Andrew Lee: who you are.

791

Wendy Kidd: So say that you've

done your research, you've, you've

792

found a, a bank that has all the

green flags and you actually are

793

gonna get to talk to the banker.

794

Yeah.

795

What questions should they ask

796

Andrew Lee: the banker or the nonprofit?

797

What

798

Wendy Kidd: should the nonprofit ask the

banker to interview them, decide that

799

this is their banker they wanna work with?

800

Andrew Lee: I think that if that

banker and that nonprofit is not

801

asking, you know, like past the.

802

Checking account.

803

What do you offer?

804

All that stuff.

805

You know, just that my banker, when

you come into to an organization, they

806

should be telling you about what you

know, who they are, what we offer, but

807

they should be getting to know you.

808

Wendy Kidd: Hmm.

809

They should be asking you, they

should be asking you the questions.

810

Mm-hmm.

811

They

812

Andrew Lee: should be sitting

down, having that conversation

813

with you, getting to know you.

814

There should not be a banking conversation

until they have discovered what

815

your organization is, who it serves.

816

And you know, in their mind they should

be thinking of how they can benefit you.

817

Wendy Kidd: Right.

818

Right.

819

Not only what financial

resources they can provide.

820

Yeah.

821

But other resources.

822

'cause at the end

823

Andrew Lee: of the day, our jobs

are to talk about financial.

824

Resources for you.

825

Wendy Kidd: Mm-hmm.

826

Andrew Lee: But we don't know who you are.

827

Yeah.

828

You know, do we have, I mean, I can,

I can sit down and have a conversation

829

with a customer, and in the back of

my mind I am thinking like, oh my God,

830

I can plug them in with this person.

831

I can get 'em over here with this person.

832

You know, this, this, this

tool would be perfect for them.

833

But I'm also listening at the same

time because I want to make sure that

834

they, they're, they know they're heard.

835

Yeah.

836

And second of all that I'm giving them

something that's gonna benefit them.

837

I don't know how many times that I have

been sold a line and said, oh, you know,

838

we're gonna get you this, this, and this.

839

But they didn't listen to what I needed.

840

They just sold me a product.

841

Yeah.

842

I'm not gonna sell you a product.

843

I'm going to give you something

that's going to benefit you.

844

If it's not gonna benefit you,

I'm not gonna give it to you.

845

Wendy Kidd: Yeah.

846

Banking is not one size fits all.

847

Andrew Lee: It's not one size fits all.

848

Wendy Kidd: And I think

everybody doesn't know that.

849

Yes.

850

So you think

851

Andrew Lee: that you have to have

this and you have to have that.

852

You don't.

853

Wendy Kidd: Yeah.

854

Andrew Lee: You don't.

855

Wendy Kidd: Yeah.

856

Andrew Lee: And a lot of people don't

realize, like they, they just open a

857

savings account and they don't realize

that it maybe a money market is a better

858

solution for them to earn interest.

859

Wendy Kidd: Absolutely.

860

Um,

861

Andrew Lee: I mean, or that just

leaving their money, sitting in a

862

checking account is and letting it

build up to thinking they have a high

863

balance that they're doing great.

864

Yeah.

865

Great.

866

You have money in the bank.

867

That's awesome.

868

But let that money work for you.

869

Let it earn some interest.

870

Yeah.

871

You know, like, 'cause depending

on what that balance is,

872

that could be a good return.

873

Wendy Kidd: Absolutely.

874

Absolutely.

875

So, okay, for all the, the smaller

nonprofits out there that are thinking,

876

well, I'm just not big enough to matter.

877

This doesn't really apply to me.

878

What would you say to them

879

Andrew Lee: that's, you should

not think in that wavelength.

880

No matter how big or

small you are, you matter.

881

Absolutely you, you matter.

882

Everybody started from

nothing and made something.

883

Look at, look at Jeff Bezos

and starting in his garage

884

and look at where he is today.

885

Um, you know, the biggest

nonprofit today started somewhere.

886

Wendy Kidd: Yeah.

887

Andrew Lee: You know?

888

Wendy Kidd: Yeah.

889

Andrew Lee: You come in, they

should treat you like the

890

multimillionaire that just walked out.

891

Wendy Kidd: Absolutely.

892

They

893

Andrew Lee: should treat

you just like anybody.

894

Wendy Kidd: I'll give you

a good example, hugs, cafe.

895

Yeah.

896

Right.

897

Look how tiny they started out.

898

Yeah.

899

And now they, they're they've, they've,

they're building their headquarters.

900

Yes.

901

The world headquarters.

902

It's an amazing looking headquarters.

903

Yeah.

904

They just opened their

second cafe in Dallas.

905

Yes.

906

Um, you know, and it's a

great organization, can tell

907

me that they didn't do that.

908

Without a banking relationship.

909

Yes.

910

With several banks.

911

I bet.

912

Andrew Lee: Several banks,

several relationships.

913

Yeah.

914

You know, immersing their

self in the community.

915

Um, having those con deep conversations

like, you know, getting to know people.

916

Yeah.

917

You know, not just in your, not

just your banker, but your bank.

918

Wendy Kidd: Yeah.

919

You know, as a

920

Andrew Lee: whole.

921

Absolutely.

922

Wendy Kidd: Absolutely.

923

All right, man.

924

I, I feel like I've asked

so much of you today.

925

Yeah.

926

Yeah.

927

But I'll ask, is there anything that

you wanna talk about that we've missed?

928

Andrew Lee: You know, I think the biggest

thing you can say to a nonprofit is don't

929

be, don't be afraid of open communication.

930

Don't be afraid to ask

those hard questions.

931

Um, just come in and

let's have a conversation.

932

If you leave without opening an account,

if you leave without, even if, if you took

933

something away from that, that meeting

934

mm-hmm.

935

Then we have, we have done our job.

936

Wendy Kidd: Right.

937

Andrew Lee: If you took something away

from that meeting, we've done our job.

938

Wendy Kidd: Yeah.

939

Andrew Lee: Um.

940

Wendy Kidd: Don't be afraid

of judgment, don't be.

941

I think that's what stops a lot of

people from walking in the door.

942

Yeah.

943

Andrew Lee: And it's not even like

ju like you shouldn't be judged on a

944

certain like level, like, you know,

don't be afraid for me to like say,

945

Hey, don't, wouldn't necessarily do it

that way, but this is what I've seen.

946

Be afraid.

947

Be open to that advice.

948

Yeah.

949

You know, I, I mean, I think so,

so many people are afraid to.

950

I don't know how to say it.

951

Like you don't know what

you don't know type thing.

952

Wendy Kidd: Absolutely.

953

Andrew Lee: Yeah.

954

Wendy Kidd: Yeah.

955

Andrew Lee: And they're afraid to ask

that question because they're gonna know.

956

Wendy Kidd: Mm-hmm.

957

Mm-hmm.

958

Andrew Lee: And they're like, oh, I

don't wanna know, you know, type thing.

959

Wendy Kidd: Yeah.

960

Your banker should be

interested in helping, you know?

961

Andrew Lee: Yes.

962

Right.

963

Wendy Kidd: Yes.

964

Again, red flag, green

flag situation here.

965

But that's the point, is

if you, if you can be brave

966

Andrew Lee: mm-hmm.

967

Wendy Kidd: And, and, and go

try to find a banker mm-hmm.

968

That fits you, you're gonna

benefit so much from it.

969

A

970

Andrew Lee: hundred percent.

971

Wendy Kidd: Yeah,

972

Andrew Lee: a hundred percent.

973

And it's not just a financial, it's

gonna make your life so much easier.

974

Yeah.

975

Because again, it's a relationship.

976

You should be able to that.

977

Like if you need to text

that person, text them.

978

If you need to email them at midnight,

they may not get back to you right away,

979

but they're gonna, we're gonna have that

con open, open conversation with you.

980

I'm gonna call you, you know,

you called me, you know,

981

Wendy Kidd: I texted you.

982

I say, Hey, you,

983

Andrew Lee: I'm gonna, you know,

depending on how much it is, I,

984

you know, I text, but I don't

text as fast as some kids today.

985

Wendy Kidd: Yeah.

986

Andrew Lee: And so I will call you.

987

Wendy Kidd: Yeah.

988

Andrew Lee: And we'll have,

we'll go sit and have lunch.

989

We'll do whatever we have

to do to make sure we.

990

Come, come up with a solution.

991

Wendy Kidd: Yeah.

992

Yeah.

993

Absolutely.

994

Thank you so much, Andrew.

995

You're welcome.

996

I really appreciate you.

997

Thank you for having me.

998

Yeah, of course.

999

Of course.

00:32:35,229 --> 00:32:38,529

And if anybody has any questions

for Andrew, we're gonna have a

00:32:38,529 --> 00:32:40,569

link to his LinkedIn profile Yeah.

00:32:40,719 --> 00:32:42,369

And links to the bank in here.

00:32:42,699 --> 00:32:45,639

Um, and if you guys have more questions

about trying to find the right banker

00:32:45,639 --> 00:32:48,759

for you, please feel free to reach out

to either of us, and thanks so much.

00:32:48,759 --> 00:32:49,209

Andrew Lee: Yeah, thanks.

00:32:49,269 --> 00:32:50,289

Wendy Kidd: See y'all next episode.

00:32:50,319 --> 00:32:50,379

Bye.

00:32:53,529 --> 00:32:55,299

Thanks for listening to the nonprofit.

00:32:55,299 --> 00:32:58,059

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00:32:58,329 --> 00:33:01,509

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