In September of 2001, the Board of Directors of CBAA incorporated CBAA Services with a goal of capitalizing on the collective strength of our membership to negotiate meaningful discounts for member banks. As part of its mission, CBAA Services utilizes community bankers to conduct and analyze the due diligence and to ultimately choose our endorsed service providers.
In an effort to highlight the value of these endorsements, we recently completed an analysis of the aggregate net income contributions to participating member banks since the inception of CBAA Services. We are pleased to report that through Q2 2010, participating banks have realized an aggregate net income increase of $15,697,372.
We plan to update this figure during the third quarter each year to inform our members of the benefit of their respective participation in the endorsements offered by CBAA Services