What would you do with $303 million dollars? While most people will probably never need to realistically answer this, banks and financial institutions across the nation are faced with this question as they receive federal funding. Sterling Financial Corporation recently received $303 million as a part of the U.S. Treasury's Capital Purchase Program (CPP). Many banks around the country continue to absorb criticism about how they are or aren't using CPP money, and are transparent around how they do business. As some banks received criticism for how they are spending this money, Sterling needed to articulate to key audiences that they are using the program to assist their customers and communities.
Desautel Hege Communications helped Sterling communicate this message by creating a short whitepaper outlining how the funds will be distributed. The whitepaper included information on the CPP, new and enhanced programs that will help spur economic growth, and specific ways the funds are benefiting the bank's customers and the communities it serves. These messages were important to several audiences, including Sterling customers, investors, analysts, the communities Sterling serves, and the general public.
A link to the final whitepaper can be found here.
