I've been preaching the Move-Your-Money line but I hadn't actually done it. I have all kinds of excuses: A labyrinth of accounts all interconnected with my family and business, Loans that give me a good deal that I can't match elsewhere, the enormous time and effort it will take to change all my auto deposits and withdrawals, and there isn't a credit union to join with a branch within walking distance. Ugh. Moving my money was way too much of a hassle. But it ate at me that I wasn't aligning my actions with my values so during the winter holidays, I decided to actually make the move.
I chose People's Bank of Washington. It's a community bank with 24 branches in my region including one in my very own down town. A mere two mile walk away from home. Scott Chambers, the Assistant Branch Manager spoke with me and my husband and gave us a warm welcome as well as a lot of help getting started with the new bank.
What I didn't know when I started the process, was how much I was missing by not banking locally. Scott offered us personal service and I don't mean he just gave it lip service! When I called the bank to get a question answered, the woman who answered the phone introduced herself, "Hi, I'm Bridget Barrington, the bank manager, I opened the door for you today. I'm sorry I didn't introduce myself then!" I couldn't believe it! And when I went in to deposit a check today, Bridget came up to me to introduce me to the teller. Wow. I get the feeling that I will be able to work with these people. When I told my mom about the experience (and recommended that she move her money to People's) she remembered that more than 40 years ago she and dad had gotten amazing personal service from a bank when they were traveling. The bank sent them money (it was before the days of ATM's) at different stops during a round-the-world tour and once, when mom and dad didn't pick up the money at the time the bank thought, the banker called their friends to make sure everything was okay!
Perhaps there is still room in the world for a personal banker for even, not wealthy me! I recommend to all of you who haven't yet taken the time or made the effort to move your accounts to a local bank, Do it Now! You'll be happier when you do.
What I didn't know when I started the process, was how much I was missing by not banking locally. Scott offered us personal service and I don't mean he just gave it lip service! When I called the bank to get a question answered, the woman who answered the phone introduced herself, "Hi, I'm Bridget Barrington, the bank manager, I opened the door for you today. I'm sorry I didn't introduce myself then!" I couldn't believe it! And when I went in to deposit a check today, Bridget came up to me to introduce me to the teller. Wow. I get the feeling that I will be able to work with these people. When I told my mom about the experience (and recommended that she move her money to People's) she remembered that more than 40 years ago she and dad had gotten amazing personal service from a bank when they were traveling. The bank sent them money (it was before the days of ATM's) at different stops during a round-the-world tour and once, when mom and dad didn't pick up the money at the time the bank thought, the banker called their friends to make sure everything was okay!
Perhaps there is still room in the world for a personal banker for even, not wealthy me! I recommend to all of you who haven't yet taken the time or made the effort to move your accounts to a local bank, Do it Now! You'll be happier when you do.
What a fantastic recap of your experience with your local bank. And if you start a company in the near future, I'm sure you will know who to go to for your small business banking services!
ReplyDeleteI moved my money a long time ago to a local bank in PDX called Umpqua...it's been great! Now that they have expanded to Seattle, where I spend a lot of time, it's been even better! I do wonder if I should switch to a community credit union though..Thoughts?
ReplyDeleteUmpqua is an interesting choice, but at a size above $10 billion, they are no longer a "community" bank... they have branches in four states!
DeleteStill, people make the difference, so if you get good service from the people where you bank, does it matter?
I've been planning on moving my ex-WAMU now CHASE account somewhere but wanted to do some research first. Thanks for doing the legwork for me, I think People's Bank looks like a great choice!
ReplyDeleteThanks for sharing your story. I've been thinking of doing that for some time, but my biggest obstacle is that I cannot say with any degree of confidence that I will live in the same region a year from now. I'd love to find a way to bank local but live global (or at least national); any suggestions? Do most community banks waive atm fees and allow customers to live outside the region of their bank?
ReplyDelete@Mike, I know that People's has a deal with ATMs all over the country as do many credit unions and banks. The down side is that sometimes they don't have check depositing in the ATMs -- you can still get auto-deposit or mail in but it's still different.
ReplyDeleteWhat a great story! That is the way banking used to be and it is so nice to hear that personal relationships are coming back. I moved to a credit union in Portland and had much the same experience. I called with questions on two occasions and each time the same person answered the phone. No talking to a machine for ten minutes before the machine can even locate a person.
ReplyDelete