Last week I attended the grand opening of the new Umpqua Bank store in the Capitol Hill neighborhood of Seattle. Although I have been in a number of Umpqua Bank stores in the past few years, I was particularly interested in this one since it was their first denovo branch in the Seattle area – all other branches in the area have come through acquisitions.
I could probably go on and on about various aspects of the customer experience and unique retail store environment, as do most people who describe their visits to Umpqua Bank’s stores. During this visit, however, I was reminded about how open and engaging this bank is.
I started thinking about openness when I ran into my friend Carol, a long time banker in the Seattle area, during my visit to the Umpqua Bank store. Like many others at the opening, Carol also wanted to see what the Umpqua Bank experience is all about. Carol’s institution could be viewed as an Umpqua Bank competitor. Still, she had the same welcoming experience as everyone else. This is yet another way Umpqua Bank differentiates from other institutions.
Umpqua Bank really embodies openness. The bank and its employees are open and excited about sharing their philosophies with customers, communities and competitors alike; this is evidenced by everything from the open design of the store to the phone for customers with direct access to Umpqua Bank’s CEO, Ray Davis – not to mention the fact that Umpqua Bank allows executives from institutions across the world to tour Umpqua Bank’s stores and operations.
This impresses me. At a time when many consumers may feel uncertain or unwelcomed by other financial services companies, this is a fresh approach. I can’t help but wonder what would happen if more institutions adopted this kind of openness. After all, as they say – a rising tide lifts all boats.
For more about the Capitol Hill branch, check out Umpqua Bank’s video about the store.