In 1974, with an MBA from Harvard, Ralph Haberfeld, chairman of Haberfeld Associates, began his career at MCS Associates, a financial institutions general management-consulting firm. At this time, Mr. Haberfeld began researching checking account marketing and profitability.

Through study, research and application of economic principles, Mr. Haberfeld made several key observations that would become the basis for a new program:

• Checking accounts are inherently strategic and so valuable that banks should want as many as they can get.
• People choose their bank for convenience.
• Having good product – including a free account – is critical.
• Fee income is very valuable
• With good policies, product, training, and marketing, a bank can significantly increase openings.

A few banks trusted these recommendations and joined Mr. Haberfeld. Now accepted as sound, highly effective acquisition strategies, these ideas were once considered radical and even risky. For their trust, the original clients earned astonishing rewards: an average of 1,360 gross new checking accounts per office, per year.

Today, Mr. Haberfeld is acknowledged as the originator of account acquisition through checking account marketing. Since his first group of clients – and our official founding January 1, 1989 – Haberfeld has grown. We now have more than 50 employees working with more than 100 banks in urban, suburban, rural, and small-town markets in more than 40 states. Whether they have one branch or more than 100, our clients dominate customer acquisition in their markets.

Over the years, it’s been our privilege to partner with these banks and to watch them succeed with the program. In the future, we look forward to working with as many banks as our exclusivity policy will allow.

If you believe yours in one of those banks, we want to hear from you. Please request a no-obligation financial proforma or contact us today to see how we can work together and achieve amazing results.