{"id":23893,"date":"2025-05-08T08:00:00","date_gmt":"2025-05-08T08:00:00","guid":{"rendered":"https:\/\/goodnewsmags.com\/fayetteville\/?p=23893"},"modified":"2025-05-05T20:06:38","modified_gmt":"2025-05-05T20:06:38","slug":"gay-dempsey-banking-on-community","status":"publish","type":"post","link":"https:\/\/goodnewsmags.com\/fayetteville\/gay-dempsey-banking-on-community\/","title":{"rendered":"Gay Dempsey: Banking on community"},"content":{"rendered":"\n<p>ON CHRISTMAS Eve in 1960, Charles Gleghorn stepped behind the teller\u2019s counter at Lincoln County Bank for the first time. He slid open a heavy wooden cash drawer, its metal dividers clinking against neatly stacked bills. He calculated transactions on the mechanical adding machine beside him with a series of sharp clacks. He recorded each transaction by hand. Gleghorn noted customers\u2019 savings in an ink-stamped passbook. Banking was slow and deliberate \u2014 built on face-to-face trust.<\/p>\n\n\n\n<p>By 2002, Gleghorn had launched and led the Bank of Lincoln County (BOLC). Today, his daughter, Gay Dempsey, serves as BOLC\u2019s chief executive officer. Tellers barely touch cash before it moves through the system. Transactions happen in seconds, screens replacing ink-stamped ledgers. Customers tap phones instead of handing over paper checks. But despite all that\u2019s changed, one thing remains the same: the bank\u2019s mission to make a difference in the lives of its customers, its staff, and the community it serves.<\/p>\n\n\n\n<p>That mission extends beyond banking \u2014 it\u2019s about strengthening the local economy.<\/p>\n\n\n\n<p>\u201cGiving back is truly part of the DNA of the Bank of Lincoln County,\u201d Dempsey said. \u201cAnd part of that is supporting our local small businesses.\u201d<\/p>\n\n\n\n<p>One of the bank\u2019s most visible efforts is \u201ccash mobs,\u201d a targeted initiative that sends a surge of shoppers to a selected small business.<\/p>\n\n\n\n<p>\u201cThe goal of a cash mob is to highlight a local small business and provide an economic stimulus for that business,\u201d Dempsey explained. \u201cThe bank gives each employee a specific amount of money, and each person shops at that business on a specific day. Each person typically spends more money than they\u2019re given, so it provides a significant economic impact on the business.\u201d<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/goodnewsmags.com\/fayetteville\/wp-content\/uploads\/sites\/4\/2025\/05\/Story-1-photo1-2-1024x683.jpg\" alt=\"\" class=\"wp-image-23895\" srcset=\"https:\/\/goodnewsmags.com\/fayetteville\/wp-content\/uploads\/sites\/4\/2025\/05\/Story-1-photo1-2-1024x683.jpg 1024w, https:\/\/goodnewsmags.com\/fayetteville\/wp-content\/uploads\/sites\/4\/2025\/05\/Story-1-photo1-2-980x653.jpg 980w, https:\/\/goodnewsmags.com\/fayetteville\/wp-content\/uploads\/sites\/4\/2025\/05\/Story-1-photo1-2-480x320.jpg 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1024px, 100vw\" \/><figcaption class=\"wp-element-caption\">Photography by Brooke Snyder<\/figcaption><\/figure>\n\n\n\n<p>The initiative also draws in community members, ensuring businesses gain new customers and an immediate boost in sales.<\/p>\n\n\n\n<p>BOLC also celebrates Small Business Month, spotlighting local entrepreneurs and fostering community engagement. A more playful approach comes through the \u201cWhere\u2019s Iggy?\u201d campaign, named after the bank\u2019s beloved mascot. The bank posts videos of Iggy \u201cshopping\u201d at different local stores, encouraging the community to guess his location.<\/p>\n\n\n\n<p>\u201cThe first person to guess where Iggy is shopping wins a gift from that small business,\u201d Dempsey said.<\/p>\n\n\n\n<p>Beyond promotional events, the bank itself leads by example.<\/p>\n\n\n\n<p>\u201cI\u2019m not sure that people ever stop to think that the Bank of Lincoln County is also a local small business,\u201d Dempsey said. \u201cOur shareholders are from Fayetteville and Lincoln County. So when our bank and our community succeed, we all win.\u201d<\/p>\n\n\n\n<p>The bank invests in local restaurants and caterers for events, purchases from nearby vendors, and helps entrepreneurs secure funding to launch or expand their businesses.<\/p>\n\n\n\n<p>Every dollar spent at a Lincoln County business strengthens the local economy. Every deposit at BOLC stays in the community, funding new homes, farms, and businesses.<\/p>\n\n\n\n<p>\u201cWhen you deposit your money at the Bank of Lincoln County, that money stays here and is invested back into Lincoln County,\u201d Dempsey stated. \u201cIt stays here and makes a difference here.\u201d<\/p>\n\n\n\n<p>Rooted in trust, the Bank of Lincoln County continues to strengthen the community, one local business at a time. <strong>GN<\/strong><\/p>\n\n\n\n<p><em>For more information, follow Bank of Lincoln County on Facebook or visit bolconline.com.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>ON CHRISTMAS Eve in 1960, Charles Gleghorn stepped behind the teller\u2019s counter at Lincoln County Bank for the first time. He slid open a heavy wooden cash drawer, its metal dividers clinking against neatly stacked bills. He calculated transactions on the mechanical adding machine beside him with a series of sharp clacks. He recorded each [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":23894,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-23893","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stories"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Gay Dempsey: Banking on community - Fayetteville, TN Good News Exchange<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/goodnewsmags.com\/fayetteville\/gay-dempsey-banking-on-community\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gay Dempsey: Banking on community - Fayetteville, TN Good News Exchange\" \/>\n<meta property=\"og:description\" content=\"ON CHRISTMAS Eve in 1960, Charles Gleghorn stepped behind the teller\u2019s counter at Lincoln County Bank for the first time. 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