|Why the Citywide Banks Business Model Works for Colorado Companies|
|By the Citywide Banks Team (Originally published in the Denver Business Journal, September 2013)|
Citywide has client relationships with some of the hottest local companies, including Modmarket restaurants. Pictured above are Modmarket co-founders, Rob McColgan and Anthony Pigliacampo.
The true measure of a company’s success is what its customers think about it. It goes beyond being on a first name basis. Is the relationship bringing real value that’s impacting the company’s business goals? Would they refer the business to a colleague? For five decades, Citywide Banks has strived to be more than just another outlet for a business loan. Our business model is centered on partnering with local small to midsize businesses to move our local community forward. That means giving businesses the support and financial tools to grow and create local jobs. As our client companies are able to increase their deposits in our bank, we then seek out other local small businesses that need growth capital. Our business model keeps our customers’ money in Colorado, working to help our local community thrive. This drives our ownership, our board, and every Citywide Banks employee to work passionately to help our customer companies to be successful.
“My experience working with a large national bank was stifling to my business,” related Kristi Alford, CEO of E2 Optics, a structured cabling and IT infrastructure provider. “I was treated as a number not as a customer. It was very refreshing to work with Citywide Banks. From the beginning, they took the time and interest to understand our Company vision and mission, our aggressive growth plans and business offerings. Their team is creative and provides financial options to assist our ever-changing business needs.”
Ron Vasquez, president of Geocal, Inc., a geotechnical engineering firm that has been partnering with Citywide Banks since 1994, agrees. “Citywide has taken a genuine interest in our firm and has been in the trenches with us through the good and bad. The communications, response and respect from Citywide have been excellent. Geocal looks forward to working with them for years to come.”
“They are interested in the long-term relationship and can be flexible to meet the customers need,” explains Craig Maraschky, executive director of the Aurora Housing Authority. “Larger banks don’t operate in that manner. It can make a real difference to an organization like ours.”
Bryan Williams, president of Schlegel Williams Construction talks about how Citywide Banks differs from other banks. “Our relationship with Citywide Banks feels more like a partnership. While I hate to admit it, Citywide wasn’t the first bank we approached many years ago with our initial business plan. It was however the only one that was interested, helpful and engaged. Honestly, Citywide made me feel special and helped boost my confidence level that this little start up business could and would succeed. That’s why we chose Citywide Banks.”
“Citywide Banks has been instrumental in our growth over the past 18 months,” expressed David Sinkey, president of Boulder Creek Builders, a relatively new client for the bank. “Coming out of the real estate downturn we needed a bank willing to do a deep-dive to understand our people, our business and our homebuyer. It would have been easy to get lumped in with dozens of other builders seeking financing. Instead, our bankers at Citywide Banks were able to see the opportunity in our unique product offering and moved quickly to provide the needed financing.”
Another benefit of Citywide Banks’ focus on the local community is its ongoing commitment to center the bank’s community outreach program on locally based nonprofits versus international or national need-based organizations. During 2012, Citywide Banks contributed over $330,000 in charitable donations and sponsorships to local nonprofits. This doesn’t include the hundreds of hours that employees spent volunteering on boards and committees, performing pro bono financial services, and participating in fundraising campaigns. It is another example of the banks” commitment towards helping to move our local community forward and help build a strong economy.
“Citywide Banks has a rich history in building and supporting our community,” describes Joan DiMaria, CEO and executive director of the Arapahoe/Douglas Mental Health Network. “The local ownership and longevity in the community provide us, as clients, the personal touch we appreciate in business banking. We also respect the dedication they demonstrate across the metro area in supporting strong and healthy communities, particularly where behavioral health is concerned. They provide financial support, participate in boards and committees, and extend their expertise in management and community connections.”
For more information about Citywide Banks, visit www.CitywideBanks.com or follow us on Facebook, Twitter, or LinkedIn.
Check out other articles in this special section celebrating Citywide Banks 50th Anniversary, originally published in the Denver Business Journal.
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