Meet Yvonne Allmond, EVP Community Financial Engagement Officer

Executive Vice President, Yvonne Allmond, manages the TowneBank Community Financial Engagement Program. Yvonne has more than 30 years of experience in the financial services industry and has been with TowneBank for over 15 years. She spends a considerable amount of her personal time serving on local boards. Get to know Yvonne and the program. 

Q: What exactly is the Community Financial Engagement Program?  

A: This is a program that provides educational services for our members, their staff and employees, prospects, and the general public on the basics of financial literacy and credit, relationship banking, financing a business, obtaining a mortgage, and most recently the Paycheck Protection Program (PPP) program.  

Q: How does this program help our members?

The Community Financial Engagement Program provides free, financial education to community groups, businesses, colleges, anyone who shares a need. I have spoken to groups as small as 5 people all the way up to several hundred. Recently, courses have transitioned to virtual learning but I hope to see people in person one day. 

Q: What differentiates TowneBank from other banks?

This program is a prime example of how TowneBank is different because they are a true demonstration of the care and level of personalization we offer to our members and our community. While there is plenty of online information, it is mostly informational, and no one is there to address questions. You would need to follow up with a phone number or email address. TowneBank offers a personal service and an individual person to address questions. 

Q: If someone were debating between banking at TowneBank and another bank, why should they choose Towne?

A: Many reasons - and this service is just one. We have a reputation for providing personalized banking and that is still true. It is important to feel comfortable with those assisting you with your finances. This service is an example of TowneBank going above and beyond and is of no cost. 

Q: Describe a time when you helped a member out of a difficult situation or helped to solve a problem for them.

A. Before this became a full-time position, I provided this service on my own time.  A couple of years ago as a private banker, a prospect from another bank, was holding a two-day conference at the Virginia Beach Conference Center and attendees were in from all over the country. His bank’s speaker backed out of providing workshops on financial literacy and financing a business the day before the weekend conference began. He called in a panic to see if I knew anyone at TowneBank who could help him. At least 150 people had already signed up for the classes. I volunteered and conducted two workshops on Saturday and Sunday. He moved the entire relationship to TowneBank, and it is a good one to this day with the potential for more growth.   

Q: What is your favorite thing about what you do?

A: My favorite thing is knowing that the information I am providing is actually useful and will be to someone forever! 

Q: What are three traits that define TowneBank?

A: Willing to meet the needs of our members; maintain a high level of community trust; and well respected. 

Q: What are three topics you see being the most important in financial literacy for the next 2-3 years?

A: I think developing basic budgeting and spending plans and mortgage information. I have added Relationship Banking and Planning for the success of Your Business to my list of workshops based on experiences of businesses with the PPP program. A lot of small businesses did not have the basics in place to apply for that program. 

Q: How can someone engage you for this service?

A: Please call me directly or send me an email. I have several workshops and programs ready-to-go with short notice. I can also create a program to include information that may be unique for their group. This service is very beneficial to churches, non-profit groups, and large and medium-sized employers in any industry, who want their employees to learn about basic banking and financial literacy. We can even plan a series for them. Just call!