A 5-year-old community bank will double its operations next week when it opens a new branch in Fairfield.
With the opening of its new branch located at 1312 Post Road, the Bank of Westport will introduce its community approach to banking to Fairfield – an approach that embodies its ongoing slogan: “Get the attention you deserve.”
The branch will open officially on Tuesday, July 15, after months of preparation.
“Our business has been growing steadily over the past 12 months, with increased interest coming from Fairfield businesses and residents,” said Keith Lyon, president and chief executive officer of Bank of Westport. “Opening our first branch office in Fairfield was a natural for us. We’re becoming more active in the community and people have welcomed the way we treat them differently than [the way] other banks [do].”
The new branch is located near the Fairfield train station, and careful attention was given to the interior design of the building in order to create an environment for expedient and attentive service. There are also plans to host corporate, social and networking events at the new branch.
Although the bank is heading into its fifth year, it previously operated only one office in Westport. As assets have continued to grow, the bank has decided to take a first step toward expansion by entering Fairfield.
“The whole idea is community,” said Shanelle King, manager of the Westport branch. “I’m not your typical banker. The Bank of Westport is a lot more hands-on and it’s not so stuffy like some other banks.”
King noted that in conjunction with the branch opening there will be “some exciting things that you probably haven’t seen in a bank before. We’re planning some pretty fun stuff. We don’t want to come across as the typical stodgy people that you deal with at a bank. I’ve always had the idea that when you walk into a bank it’s really somber and not fun.”
The Bank of Westport is dedicated to developing a banking environment that’s enjoyable, she said.
The financial institution is also interested in helping the community and targeting all its members. One step the bank is taking is the exploration of a partnership with the Association of Community Organizations for Reform Now, or ACORN, a community organization made up of low- and moderate-income families.
“We’re trying to work with ACORN and may be developing some products for them, as well as simply getting financial training,” said King. ACORN is currently based in Bridgeport, so the partnership with the Bank of Westport would spread out the group’s focus into new territory.
Fairfield County is regarded as one of the toughest banking markets to break into, and that’s something officials at the Bank of Westport realize, said King.
“I think we’ll do well because we offer something different,” she said. “A lot of times you feel like a number at larger places. I’ve worked at large banks before and I understand that they operate with a different philosophy. I want to know who my customers are, and where they work. I want to patronize their businesses.”
She added, “With the computer age, and e-mail, cell phones and pagers, I think that personal touch is something that people miss. That’s what we’re looking to do here at our bank.”
A branch in Fairfield is just the first step in the $47 million-in-assets bank’s expansion plans. King noted that a move into Norwalk is most likely the next in line, followed by expansion into Darien or Stamford.
“We’re not really sure, and we’ll have to gauge our decisions by the response of the community,” said King.
“I’ve spent the better part of my career across the table from bankers, so I understand what it is like to deal with them,” said Lyon. “And I always thought that, as a customer, I deserved more. As we move forward, that is what Bank of Westport will provide each and every person that works with us. I believe the residents of Fairfield will appreciate this.”
