Community Banking Month: Sovereign Bank’s People-First Approach to Building Stronger Communities

April is Community Banking Month, which the Independent Community Bankers of America (ICBA) calls “a celebration of the independent spirit and unwavering commitment of community banks to help consumers and small businesses achieve their financial goals to create communities of prosperity nationwide.” In April, PRI is celebrating some of the excellent community banks that we’re fortunate to work with and observe up close what sets them apart in their communities. We spoke to the marketing team at Sovereign Bank in Oklahoma to learn how their bank selects the community events and projects to which the bank lends its support.

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Sovereign Bank is the nation’s largest tribally owned bank, and they are committed to investing in their customers, employees and the Citizen Potawatomi Nation. As the largest tribally owned bank, they have established a dedicated banking team to serve the tribal communities, letting them know who Sovereign is and what they offer. Trusted relationships are paramount in these communities, and Sovereign is serious about establishing and nurturing those relationships.

Last year, Sovereign provided $1.4 million in community development investments and donations, including a $500,000 donation to the Community Development Corporation to benefit underserved Native Americans.  They support several public schools in Oklahoma and have originated $1.3 million in community development loans, including loans that are helping rebuild schools in FEMA disaster areas that were impacted by tornadoes.

In general, they see themselves as the bank that empowers big dreams, and they believe that deeply understanding and fulfilling the needs of the communities they serve is vital to achieving that mission. To foster that deep understanding, Sovereign Bank relies on its employees to lead the way.

Supporting employees and their interests

While many large companies are locked into the philanthropic organizations they support, VP and Director of Marketing Becca Duke said Sovereign takes a different, more flexible approach: they support what their employees in the communities of their nine branches want to support.

“That’s our standard,” she said. “When we’re asked to support a cause or sponsor an event, our first question is, ‘Do we have an employee who does something with your organization?’ If we don’t have buy-in from our employees or someone at our bank who is willing to push for you, we’re probably not going to say yes until we do.”

Because the branch employees know best the needs in their own communities, this approach works well and provides the greatest impact. It also ensures there will be strong volunteer support from within the bank.

“I think that approach has helped getting our people to volunteer because they see that we may be asking for some help at a particular event, but we’re going to give back to what they’re interested in later. And that’s pretty special,” Duke said.

The branches are afforded their own budgets for community involvement, which they review annually with corporate. The branches evaluate what they did the previous year, what worked and what they want to continue doing. While the process is managed centrally, each branch is given flexibility.

“We are the final say, but I’m in Oklahoma City,” Duke said. “I have a general idea of what’s important at the other branches, but I don’t know what’s going to be most impactful because I don’t live there and don’t know the people there. But our lender does.”

Driving volunteer engagement

In addition to the frontline employees, Sovereign’s C-Suite is also visible and involved in supporting community events, which is meaningful and sets a positive example for volunteering in the organization. Sovereign makes it clear that they want people to get engaged and even offers PTO time in exchange for volunteer hours.

“We also allow employees to volunteer during work hours, as long as their job can still function when they’re gone,” Duke said. “If getting involved takes them away from their desk for a couple hours, we’re okay with that because they’re supporting our community, which is, in essence, doing our job.”

The projects that Sovereign is involved in range from sponsoring a hot air balloon festival in Shawnee to volunteering for events with elementary school kids experiencing or transitioning out of homelessness.

Some of Sovereign Bank’s notable community events include:

Citizen Potawatomi Nation Family Reunion

This annual event attracts about 5,000 Citizen Potawatomi Nation tribal members each summer, and it gives Sovereign employees the opportunity to serve and talk directly with their members. 

Firelake Fireflight Balloon Fest

The Citizen Potawatomi Nation hosts a massive hot air balloon festival in August that brings thousands of people from all over the state to Shawnee for the weekend. Sovereign Bank sponsors and volunteers at the event.

The Basketball League

Sovereign Bank sponsors the Potawatomi Fire, the first professional basketball team owned by a Native American tribe in Oklahoma. Founded in 2021, the Fire compete in the Central Conference of The Basketball League (TBL), a men’s professional basketball league with nearly 40 teams across the U.S. and Canada.

United Way Days of Caring

Sovereign is a sponsor of the United Way Days of Caring, in which United Way selects several nonprofit organizations that need help on projects and connects them with volunteers to accomplish their projects in one day. This year, Sovereign packed and distributed volunteer goody bags.  

Oklahoma City Memorial Marathon

In April for the first time, Sovereign is sponsoring the Oklahoma City Memorial Marathon, the largest fundraiser for the Oklahoma City National Memorial and Museum. This year marks the 30^th anniversary of the Oklahoma City bombing, and along the course of the marathon, 168 banners — each bearing the name of one of those killed in the bombing — reminds participants of why they run. About 25,000 people will participate.

“It’s really exciting and this is my favorite event in Oklahoma the whole year,” Duke said. “I don’t think anybody can watch this event and not cry, when you see the number of people who come out to support each other.”

Positive Tomorrows

Sovereign employees volunteer for this program that serves elementary school children experiencing homelessness or transitioning out of homelessness.

Why does Sovereign Bank find it valuable to give back to its community? Alicia Wade, EVP, Chief Operating Officer of Sovereign says every community needs a school, medical services and a bank. 

“When our communities are thriving, businesses are thriving and in turn the Bank is thriving,” she said. “Every dollar we give helps grow the community in which we also live, work and ultimately serve. Along the way, our employees also benefit from the experiences they gain and the relationships that are built. This provides a multiplication effect that benefits everyone we encounter.”

Sovereign Bank takes its commitment to the community seriously and uses the opportunities presented there to build relationships, not only with their customers but also with their own employees. It makes them different as a place to work and enhances the customer experience, which explains their success and leads to long-term impact in Oklahoma.

PRI specializes in identifying profitability improvement areas for financial institutions through revenue growth, cost control, streamlining processes, and effective use of technology. Contact us to learn more about our personalized approach to propel growth and improve profitability.