Summary
United Bank began in 1839 in Parkersburg, West Virginia, and has grown to nearly 250 locations and more than 2,500 employees across eight states. It’s a full-service banking and financial institution with commercial and residential lending and wealth management solutions.
As the organization has grown, it has embraced the opportunity to enhance its records management practices, addressing challenges presented by previous decentralized systems.
“There was really no records management whatsoever until I came in,” said Howard Ross, Senior Operations Manager & Vice President of Records & Information Management (RIM).
This acknowledgment marked the beginning of a proactive transformation with how the bank handles its records.
The bank faced significant hurdles:
- Records were distributed across various locations, including off-site storage systems.
- Active and historical records were not managed by a formal retention schedule or centralized oversight, increasing compliance risks.
- The bank relied primarily on state banking association guidelines that were not tailored to federal and multi-state compliance needs. Employees frequently retained records
indefinitely due to unclear policies, increasing storage costs, and risks. - Five separate off-site storage vendors created logistical and financial challenges.
“Attempting to do a records retention schedule in-house would be a complete nightmare,” Ross said. “It’s going to get bogged down. It will be a quagmire, and it will lead to nowhere. And so, we really needed to have experts.”
Ross encouraged United Bank to partner with Zasio due to the team’s expertise, proven track record, and collaborative approach to creating a world-class records retention schedule (RRS).
Objectives
United Bank wanted to:
- Build a comprehensive single records retention schedule that covers its business units.
- Remain compliant with relevant laws and regulations.
- Adopt an incremental approach.
Zasio recommended building various RRS functional components each year — to take place in phases, including Branch Operations, Loans & Deposits, Title Insurance, Brokerage & Investment Advisory, Wealth Management, Trust, and Mortgage. Zasio’s Consulting Team helped create a robust retention schedule, provided custom research and maintenance. They also offered records and information management guidance.
Results
Zasio Consulting made the following key improvements:
Improved Compliance
The RRS provided clear retention and disposition guidelines aligned with multi-jurisdiction legal requirements. By implementing the RRS, the bank has reduced risks associated with over-retention or premature destruction of records. The team established custom research, research maintenance, and provides RIM guidance on various topics.
Cost Savings
Significant reductions in off-site storage and destruction costs were achieved through the application of retention and purge rules. The bank avoided costs associated with unmanaged compliance risks. Employees consolidated storage vendors and reduced complexity and costs with increased operational efficiency.
Cultural Change
Ross said awareness of the RRS spread organically across departments, driving adoption without formal training. Records retention practices were implemented throughout United Bank’s branch locations, fostering consistency and accountability. In addition, United Bank eliminated unnecessary storage needs for outdated records (some dating back to the 1800s). Employees have experienced improved efficiency, with faster retrieval times, and reduced reliance on physical storage.
“I can’t even quantify how many (records we’ve destroyed) that were being held permanently that should have been held for no more than three, five, or 10 years,” Ross said. “It has significantly reduced and continues to reduce that exposure for hoarding records for too long a period.”
Conclusion
United Bank’s partnership with Zasio has been trans-formative, delivering a centralized, compliant, and efficient records retention solution. Ross’s confidence in Zasio’s expertise and project results underscores the company’s status as a trusted leader in records management.
“Frank Fazzio and Rick Surber are incredible. Their legal expertise is without question, but it’s their professionalism, efficiency, and good nature that make them stand out,” Ross said. “It’s been a delight. I’ve never had this kind of experience working with consultants that I’ve had with (Zasio). It’s been enjoyable.”
This partnership not only resolved longstanding challenges but positioned United Bank for future growth and compliance excellence. The collaboration has significantly transformed the bank’s records management processes and improved overall efficiency. It’s why United Bank first engaged with Zasio in 2018 and continue to do business year after year.
“I would not hesitate to recommend Zasio whatsoever, and I would do so based on our experience,” Ross said. “If an institution wants to develop a RRS and be assured of its reliability and its solid legal basis, they (should) turn to Zasio. I have 100 percent faith in the work.”
About Zasio
Zasio has over 37 years of service in information governance. We help businesses get started in records management and maintain top-of-the-line IG programs. To do this, we’ve recruited a team of expert software developers and technicians, legal experts, and highly-accomplished records analysts—all in-house! Our highly trained team includes certified records managers, information governance professionals, and certified information privacy professionals who keep up with evolving IG trends and scale our Versatile solutions to meet our customers’ needs. It’s no wonder that thousands of organizations, including half of the top 20 Fortune 500 companies, have trusted our software solutions and expert consulting services to create world-class information governance programs.
To learn more about Zasio’s Consulting Team, call 1-800-513-1000 or email connect@zasio.com | Read More Case Studies From Zasio