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Banking for Good

When it comes to leveraging business for a better world, FirstBank walks the walk. Nicole Staudinger, the bank’s Northern Colorado Market president, sees the positive outcomes of forward-thinking business policies every day – and she shares that experience with the College as the chair of its Global Leadership Council. Her perspective is invaluable as the College continues to explore the ways students can help future employers use business to create a better world.

Banker for Good

The bank’s corporate tagline, “Banking for Good,” was rolled out in 2017, but it reflects a longstanding philosophy to do what’s right for customers, communities, and employees.

For the Good of Customers

At the core of FirstBank’s philosophy, Staudinger says, is the idea of caring “more about people than profitability.”

This philosophy comes to life in many ways. One example: FirstBank is providing financial assistance to customers during the ongoing COVID-19 pandemic by waiving fees, allowing up to three months of loan payment deferrals for business and personal customers, and dropping interest rates to zero percent. FirstBank is also on a shortlist of Small Business Administration preferred lenders for the $349 billion Paycheck Protection Program, enabling companies to keep or rehire employees as well as pay bills.

For the Good of Employees

“We believe our employees are an invaluable component of the organization,” says Staudinger. “That’s why FirstBank makes significant investments in their future.” To date, she says, the bank has paid more than $4 million in tuition reimbursement for employees and their children. Plus, she adds, “All employees receive a financial stake in the bank’s success, as stock owners.”

In addition, the bank allocates more than 45,000 hours of volunteer time off each year, paying employees to build homes for Habitat for Humanity, attend nonprofit board meetings, and much more.

FirstBank Market President Ellen Moritz (middle) poses as an undercover "vet tech in training" during FirstBank's 2019 Colorado Gives Day.

For the Good of Communities

FirstBank is not only assisting its customers during the COVID-19 pandemic – it is also supporting the communities it serves. Along with partners Community First Foundation and El Pomar Foundation, FirstBank helped contribute $150,000 to Make4Covid, a movement that uses 3-D printing to create much-needed protective gear for hospital workers. The bank also donated $75,000 to the Colorado COVID Relief Fund to provide flexible financial resources to communities most impacted by the pandemic.

The bank’s COVID-19 efforts are simply the most recent example of the ways the organization expands awareness for nonprofits serving local communities. The bank’s annual Colorado Gives Day, founded in 2007, raises millions of dollars each year. During the annual event, FirstBank employees go on special “undercover” missions. In 2019, they posed as “vet techs in training” at the CSU James L. Voss Veterinary Teaching Hospital and other clinics across Colorado, surprising people by paying for more than $40,000 in vet services.

“I think ‘Banking for Good’ revolves around a very simple principle: Do good things, and good things will happen,” says Staudinger.

It’s a principle she hopes will continue to create a better world for communities and individuals alike.

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Partners in Success

Thank you to our Global Leadership Council members, whose invaluable contributions help the College achieve its goals.