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Umpqua boutique banks are popular and cheap

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High Five
Thursday, May 20, 2010

Umpqua opened a new location this week in Portland's Sellwood neighborhood: a small location with free Internet, warm drinks and local artist's wares.

The store is the seventh of its kind opened by Umpqua, in hopes to increase branch traffic in an age of online banking.

The smaller stores, located in established neighborhoods with good retail mixes, feature art that speaks to the community's spirit, goods by local artists, computers for free Web surfing and hot drinks on the house.

But the customer-friendly trappings also appeal to the bank's bottom line, as they're cheaper to build -- one-third the cost of typical 3,000-square-foot location, said Lani Hayward, Umpqua's executive vice president of creative strategies. And they can go up in 45 days, once permits are secured, versus the usual six months, she said.

Read the whole story at OregonLive.com.

{biztweet}umpqua sellwood{/biztweet}

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