Cookies And Savings Accounts
Photo/Christina H. Davis
At Charles River Bank's new branch in Mendon there is a decidedly homey feel to the exterior and the interior.
Think of a bank branch, and the smell of freshly baked cookies probably doesn’t come to mind.
But that’s exactly what you’ll find the next time you visit the Charles River Bank branch in Mendon.
The Medway-based community bank — with just three branches and $183 million in assets — has taken a decidedly homey approach to its bank interiors, complete with comfy couches and the whiff of melting chocolate morsels in the air.
The welcoming vibe of a Charles River branch is no accident. It’s part of the strategy of the bank’s executives and a sign of the future, according to many in the industry.
Pleasure Principle
The driver behind the home-style feel at Charles River was demographic research, according to John S. Hamilton, president and CEO of the bank. Hamilton and his team found that the majority of business conducted at the branches was being done by women, either stay-at-home moms with kids in tow, or working mothers.
With that information in mind, the bank has tailored its design to be as welcoming to that demographic as possible.
“Instead of just a square box, you’ve got that nice round feel,” Hamilton said. “We want you to feel very comfortable.”
Charles River isn’t alone in its outlook, although the baking may be taking it to the extreme. Enter a bank or credit union branch and it’s apt to feel more like a living room than a cold, marble-encased shrine to money.
The goal of branch design should be to reinforce and build the bank’s brand, according to Gregg Rosen, president of Mansfield-based NES Group, which specializes in building banks and credit unions.
Rosen said bank officials are taking the lead from retail giants like Apple or McDonalds, who have truly taken their brand and extended it throughout their physical stores.
“These guys are all promoting a brand,” Rosen said.
The key shift in bank design is getting tellers out from behind those imposing counters and mingling with the customers. NES is working on bank branch designs now that use small computer pods throughout the branch floor plan where all business can be conducted. So a customer that enters the branch doesn’t have to be intimidated by the people behind the tall counter. Instead they are immediately greeted and brought over to a pod where the bank staff can transfer funds, make deposits or carry out other tasks.
Gadgets And Gizmos
The new cozy layout of modern branches is in contrast with the touches of technology. For example, a bank or credit union branch without a flat-screen TV in the lobby is definitely behind the times.
Webster First Federal Credit Union has placed a premium on technology, particularly in the construction of its new headquarters and operations center on Greenwood Street in Worcester.
“This entire building was made for this century,” said Michael Lussier, president and CEO of Webster First Federal. The high-tech enhancements at the Greenwood facility include overhead projectors, audio conferencing and ubiquitous wireless access.
Lussier acknowledged that the importance of technology in bank and credit union branches has increased.
“Years ago you wouldn’t see overhead projectors in a branch, you wouldn’t have cubicles sitting out in the lobby,” he said. But with expectations changing, branch design is keeping pace.
However, Lussier says the movement toward online and mobile banking hasn’t replaced bricks and mortar.
“There is still a need for customer touch, to sit eye-to-eye,” he said. “There’ll always be a need for that.”
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