Secure your place at the Digiday Publishing Summit in Vail, March 23-25
What a scrappy Oklahoma bank can teach the industry about branch strategy
Citizens Bank of Edmond is trying to get closer to small business customers by providing space, guidance and almost anything else they might need — besides, of course, a loan.
The one-branch community bank in Edmond, Oklahoma once had another branch, 12,000 square feet located one block away from the main space, with a drive-thru window and some executive offices. But recently the bank decided to consolidate it into a single location and has now turned it into a “business social” co-working environment, called Vault 405, for its small business customers that includes wireless charging stations, conference rooms and a podcast studio.
It’s similar to the way Barclays’ Rise accelerator provides a co-working space for its startups, but Citizens also sees it differently.
“The difference is as that as a community banker I’m also a small business owner,” said CEO Jill Castilla. “So when I’m talking and collaborating with them in this incubator type of space we’re not just talking about what’s good for them, we’re talking about challenges we have in our small business and how we address them… The office space will be just as beneficial to the bank beyond loans and depots, it’ll make us a better small business.”
More in Marketing
‘An ethics issue’: Why some creators are re-auditing their brand deals after Hootsuite-ICE controversy
Hootsuite’s partnership with ICE sparked controversy earlier this year, prompting creators to re-examine their brand deals and ethics standards.
Gary Vaynerchuk built his name telling CMOs they were wrong. Now he’s telling their CFOs instead
Gary Vaynerchuk has a new favorite meeting.
As it ramps up push to fund AI bets, Meta makes a new play for agencies
Even in the age of Advantage+, Meta needs agencies.