week 8

I cannot believe that I have almost completed my eighth week internship for Tri-County Banks. It truthfully has flown by. This week I stayed mostly at the teller position so far. The branch manager of Imlay City has been gone this entire week, so they have really needed my help filling in at the teller spot, especially when it gets very busy. I have also been working the drive-through and vault a lot this week too. I think that it is really nice switching up jobs. That keeps me busy and the day moving!

Along with that, I did learn some new and very helpful knowledge this week, too! This week I was taught a vital concept to the business side of banking; The 5 C’s of Credit. This comes into play when you are sizing up an individual that has applied and is interested in a mortgage or loan of any kind. Not every bank uses this exact method, but many individuals at Tri-County Bank praise this method. The 5 C’s of Credit include the following categories: Character, Capital, Conditions, Collateral, and Cash flow. Character is pretty self-explanatory. That means an individuals’ past history, credit score, friendship, etc. Capitol is someone’s net worth or liquid investment. Conditions refers to the proposed business cycle, current economy, possible third-line customers, etc. Collateral can mean retained earnings, equipment owned or involved, cash, etc. Last but definitely not least, cash flow. Cash flow refers to the accounting equation of net income divided by liabilities. I found that life lesson very intriguing and will keep that knowledge for later use.

On the plus side, I am very excited for next week. The branch manager will be back to work, and the commercial loan officer and assistant vice president said we would be meeting a lot!  He mentioned that he would be taking me out to a couple meetings, both outside and inside the office of Imlay City, and possibly some closings. He said he’d sit down with me early next week to discuss further plans, and I cannot wait!

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