ANNE P. TANGEN, CEO and president of Fall River Five Cents Savings Bank, also known as BankFive, was recently honored with the 2024 Women in Banking Lifetime Achievement Award from the Massachusetts Bankers Association. Tangen was presented with the award at The Women and Allies in Banking Conference. She and other female leaders in the industry were honored for outstanding achievements by remarkable individuals who have demonstrated leadership, professionalism and community service in the banking and finance industries.
Tangen has decades of experience in financial services, developing business and product strategies for wealth management, institutional asset management and cash management services. She also earned a reputation within the industry of being a trusted leader, skilled negotiator, facilitator, relationship builder and effective problem-solver.
What does receiving the Women in Banking Lifetime Achievement Award mean to you? It certainly is an honor to be recognized by the Massachusetts Bankers Association for my contributions to the banking industry. I am hopeful that the acknowledgement of my professional accomplishments inspires future leaders to persevere and reach their full potential.
You have been described as someone who has set new standards of leadership within the banking industry. What leadership styles have you put forth that differ from your peers in the industry? I don’t know if it differs; maybe the mixture of styles is unique. I aspire to be a transformational leader by creating a shared vision that encourages innovation and risk-taking. As a servant leader, I look to provide the tools and resources the team needs to reach their goals. And I’m known to be an inclusive leader by creating an environment where diverse perspectives are valued and integrated into the plan.
What is the biggest lesson you have learned in being a leader in your career in financial services over the years? Being calm in a crisis. It allows me to think through options more clearly, [and] it facilitates constructive interactions and collaboration to navigate through the crisis together. Running about with your hair on fire doesn’t instill confidence. Take risks but be known for being trustworthy and dependable.
Fall River Five Cents Savings Bank recently provided a $2 million tax equity investment as part of its partnership with Sunwealth Inc. to help build a portfolio of local community commercial solar projects across Massachusetts. Where in the state is some of that investment being directed? We invested in New Bedford at the Project Independence Adult Day Care, and in Haverhill, Mass., at the Planning Office for Urban Affairs Apartments.
