1. Kristin Arceri, Catherine Cavalier, Kirsten Cerbone, Karlie Damato, and Kristin Van Dyke

2. Core Competencies
 Commitment to Baltimore’s local community
 Reliable, trustworthy, hometown community bank
 Provide what customers need/want - locally and
personally
 Easy to do business on first name basis

3. Porter’s 5 Forces
Threat Level of Threat
Threat of New Entrants Low
Threat of Substitutes High
Bargaining Power of Suppliers Moderate
Bargaining Power of Buyers Moderate
Rivalry Among Existing Firms High

4. SWOT Analysis
Strengths
 Local
 Personalized experience
 Decentralized decision
making
Opportunities
 Can become more
technologically advanced
 Attract more Millennials
 Expand into other locations
Weaknesses
 Millennials are relatively
uneducated about financials
 Low brand awareness
 Limited locations
Threats
 Millennials are quick to switch
banks
 Convenience of nationwide
banks

5. Phone Call to the Timonium Branch
 Account specific for ages 18-25
 Free point of sale transactions
 Savings account interest rate is .10%
 $200 minimum balance
 Free access to the ATM
 Free checks
 Online mobile banking

6. Objective
 To help Millennials easily save money for future purchases
 Develop long-term relationships with Millennial clients
 Attract Millennial clients through increased financial literacy

7. A great way for millennials to save
without letting their finances get “caught
in the cushions.”

9. Savings Programs

10. Round Up
 Each time a customer uses his or her
debit card, the account will be charged
up to the next dollar amount and the
difference will be put into the person’s
Change It Up Savings account

11. Round Up Examples
PERSON A: PERSON B:
TOTAL SAVINGS
FOR MARCH
$ 10.87
YEARLY SAVINGS
PROJECTION
$ 130.44
3 YEAR SAVINGS
PROJECTION
$ 391.32
TOTAL SAVINGS
FOR MARCH
$ 32.32
YEARLY SAVINGS
PROJECTION
$ 387.84
3 YEAR SAVINGS
PROJECTION
$ 1,163.52

12. Cash Back
 “30% of Millennials want to feel rewarded for
their loyalty to a financial institution”
(Millennial Loyalty Statistics, 2015).
 For every dollar a cardholder spends at
specified local businesses, they will earn a
point.
 Once the person reaches 100 points, $5 will
be deposited into their Change It Up account.

13. Personalization Features
 Personalize title of savings account
 Ex: “Spring Break Savings,” “New Clothes Savings,” “Textbook Savings,” etc.
 Set a goal
 E-mail & text message updates

14. Implementation

15. Financial Literacy
 Host break-out sessions during college
orientations to teach students about basic
finances and about our Change It Up
program
 84% of college students admit they need
more education on financial management
(Nationwide, 2016).

16. Facebook Campaign
 First 100 using Facebook campaign will have $200 deposited into their
Savings account

17. Urgency of Promotion
 First 100 students from each college
orientation receive $200 in savings
 First 100 clients using Facebook
campaign receive $200 in savings
 Cannot withdraw initial $200 for 1 year
Contracting Agreement

18. Breakdown of Budget

19. What Makes Our Plan Inimitable
 4 Points of Differentiation from Other Banks:
 Multi-Prong Approach
 Relationship Building
 Partnership Building
 Financial Literacy

20. Projections
18.8% Growth of Millennial Checking Accounts in 3 Years
(750 new millennials/ 3,986 existing)*100 = 18.8%
13.7% Growth of Millennial Savings Accounts in 3 years
(750 new millennials/ 5,463 existing)*100 = 13.7%
Number of New Millennial Clients
Year 1 200
Year 2 250
Year 3 300
TOTAL: 750 Millennials

21. Overall Business Plan:

22. References
1st Mariner Bank. (n.d.). 1st Mariner Bank. Retrieved April 07, 2016, from
http://www.1stmarinerbank.com/about-us/community-development/blocal/
Business Partnering for Locals. (n.d.). Retrieved April 7, 2016, from http://hopkinslocal.jhu.edu/blocal/
Duggan, M., Ellison, N. B., Lampe, C., Lenhart, A., & Madden, M. (2015, January 9). Retrieved April 07, 2015, from
http://www.pewinternet.org/files/2015/01/PI_SocialMediaUpdate2014_pdf.pdf
Millennial Loyalty Statistics: The Ultimate Collection. (n.d.). Retrieved April 7, 2016, from
http://blog.accessdevelopment.com/millennials-loyalty-statistics
Nationwide (n.d.). Managing Money in College Infographic. Retrieved April 07, 2016, from
https://www.nationwide.com/college-student-spending-habits-infographic.jsp
Nielsen. (2014, January 27). Millennials: Breaking the myths. Retrieved April 07, 2016, from
http://www.nielsen.com/us/en/insights/reports/2014/millennials-breaking-the-myths.html
Price, M. (2014, October 17). How Over-Hyping a College Education Destroyed the Millennials.
Retrieved April 07, 2016, from http://www.huffingtonpost.com/michaelprice/how-overhyping-a-college-_b_6000134.html
Richter, F. (2014, August 12). Infographic: Snapchat More Popular Than Twitter Among Millennials. Retrieved April 07, 2016,
from
https://www.statista.com/chart/2570/most-popular-social-apps-among-millennials/
Ticas (n.d.). The institute for college access and success. Retrieved April 07, 2016, from http://www.Ticas.org/