News & Announcements

February 1, 2010

Macatawa Bank Wins National Award

Macatawa Bank Wins National Award for its Dave Ramsey Partnership,
Innovative Efforts to Improve Financial Literacy in West Michigan

Holland, Michigan, Macatawa Bank today announced it is been awarded the prestigious American Bankers Association (ABA) Community Bank Award, which recognizes community banks’ exceptional charitable commitments. Macatawa Bank was honored with a 2010 ABA Community Bank Award in the category of Improving Financial Literacy for the bank’s innovative partnership with Dave Ramsey.

Macatawa Bank was one of only seven community banks in the nation honored for outstanding leadership, from a field of well over 100 nominations. Recipients were selected based on the innovation, creativity and effectiveness of the bank’s approach to making a difference in its community.

The innovative Macatawa Bank / Dave Ramsey program was piloted with the renowned personal money management expert to increase financial literacy throughout the West Michigan community – from high school students to those in mid-life who are preparing for retirement. The new program was built from the ground up with the Ramsey Group and encompasses four key areas:

Since fall 2009, nearly 300 bank customers have signed up for a free Financial Peace University kit and 61 of the 62 area high schools are teaching the Foundations curriculum. Additionally, 30 Macatawa Bank employees enrolled in the first Financial Peace Workplace class. Participants in that initial 10-week course saved a combined $35,250 and paid off a combined $55,502 in debt.

“The severity of Michigan’s economic downturn continues to impact our customers. As West Michigan’s community bank, we saw a real opportunity to provide the public with a foundation for strong, lifelong financial habits. We believe that a financially smart and healthy community is a strong community, and we’re excited to continue to bring the Dave Ramsey program to our customers, employees, corporate partners and the community at-large.” said Macatawa Bank President and CEO Ron Haan.
The 2010 awards were announced at ABA’s National Conference for Community Bankers in Hollywood, Fla. on Feb. 23. The award winners will also be featured in an upcoming issue of ABA’s Community Banker magazine.
Ramsey will be returning to the Van Andel Arena in Grand Rapids in February 2010 with his Total Money Makeover program. Macatawa Bank is a sponsor of the event.

About Macatawa Bank

Headquartered in Holland, Mich., Macatawa Bank Corporation is the parent company for Macatawa Bank and Macatawa Bank Mortgage Company. Through its subsidiaries, the Corporation offers a full range of banking, investment and trust services to individuals, businesses and governmental entities from a network of 26 full-service branches located throughout communities in Kent, Ottawa and northern Allegan counties. Services include commercial, consumer and real estate financing; business and personal deposit services; ATMs and Internet banking services; trust and employee benefit plan services and various investment services. The bank is recognized for its local management team and decision making, along with providing customers excellent service and superior financial products.

About the American Bankers Association
The American Bankers Association brings together banks of all sizes and charters into one association. ABA works to enhance the competitiveness of the nation’s banking industry and strengthen America’s economy and communities. Its members – the majority of which are banks with less than $125 million in assets – represent over 95 percent of the industry’s $13.5 trillion in assets and employ over two million men and women.