Newspaper Archive of
Mercer Island Reporter
Mercer Island, Washington
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September 2, 1998     Mercer Island Reporter
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September 2, 1998
 

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Mercer ‘Island Charter marks new trend in t Wupdose and ‘ By Christopher Wilson i‘vicu’ct‘ ltg-ldt‘xcl lK'i'pl‘sl’ltfr , but can you do when you're unhappy about the \lith oi busincxs and personal bunlv ing’.’ it young like a trio of island resident» und it handful oi other visionaries. you strut your own bunk. from the ground up, islundcrv Alain Pulp and Nick Westiund. and former island rewident ~_ Keith incl-germ helped create Charter Bunk. Pulp. senior vice president oi Charter Brink. feels that their bank is .- uniquc in tho level and variety of ser— vices it can ol‘l’er. “it‘s somew but of a private bank.“ said Alnn hulp. senior vice president of Charter Bunk. “It‘s for a typical pcrxon who. for one reason or anoth~ ct. nccds morc of facc-to-fzicc relu— tionship with his banker.“ Chizrtcr Bunk was created with at . tut‘gct customer and specific goal in . mind. one that addresses apparent dc- }, ficicncics in service found in large. multilstauc bunks. “With all the mergers and acqui— \Jilltms that Lift: taking place. there‘s it real need for community banks that are locally-owned.“ Fulp said. “and that perhaps do it hcttcrjob of reach , trig. thc small huxlncss market.“ THE PROCESS began last fall. when they raised $8.(XX).(X)O in seed name)" to start the fledgling bunk. . Then they selected :1 location at the . conteroi' illiilh Avenue and ‘ 4th Sit‘cct in downtown Bellcvuc. The bunk opened its doors in February of this your. The new bunks director.» held to -’ Chamber to meet at .. different location The Mercer island Chamber of . Commerce will have in; first lun— "'mfit’n'rrrwri ty’vqoga‘uwgrvvfirn mm www.cc! atom ‘We offer a face- to-face relationship that the small‘business owners aren't getting from big banks.’ » Alan Fulp cus groups even before the bank opened. to determine just what small business owners; wanted in blinking service. Amazingly. more than 40 percent of the group said that they were dis— satisfied with their current bank. and most of them banked with larger. rc~ gionul banks.‘ "That’s where we come in." said Fulp. "We offer a t'acc-tovfacc rela- tionship that the small business own- ers aren‘t getting from big banks." Fulp says the only perceived weak- ness in a bank with only one office is that there isn‘t the convenience of a brunch on every comer. Charter Bank compensates for this. by promoting electronic banking and using courier services for customers' deposits. CHARTER BANK President Keith Jackson. formerly with Kcszmk. wanted to be involved in community banking. which he describes as “the most fun in banking.” ' ' He notes that customers don’t stand in line to wait for a teller. in fact. Charter has no tellers. cheon meeting of the full at noon on Thursday, Sept. 10. This time. the meeting will be in the lower meeting room at Holy Trinity ‘ Lutheran Church, 85(le SE. 40th ‘1’“: mum“ we.“ MWWM 0‘ ~81§' CAL-PAC ROOFING 8614 South 222ml Street 0 Kent, WA 98031 74; Wswzw Charter Bank is staffed with sc- nior—lcvcl. highly skilled officers. drawn from ranks of fricnds and ac— quaintunces at other banking inStitu— tions: These officers are capable of addressing all of a customer's needs. eliminating the need to refer customers to various departments for different services, Customers are invited to sit at u'dcsk with a bunk officer, Jackson says, which lends a more personal air to the transaction. - This fall will see the addition of more electronic services, such as e-. mail balance reporting and on-line banking for businesses. I .j Charter Bank also offers commer~ ciul lending, and has allied itself with various home mortgage lenders in the ur'eafThe bank offers a special ATM card that works anywherein the coun- try. and Charter Bunk refunds any fees charged by other banks‘ AT-Ms. ‘ Nick Westlund is a director at Chatter Bank. Although not involved in the everyday work at the bank, he sees Charter Bank filling the gap be- tween largc bank chains and others. Fulp says that the entire process of starting a bank from scratch was . surprisingly problem free, and. that . there were many perceived obstacles 3 that turned into nice surprises. One factor fomenting this is the deliberate lack of aggressive expan- sion. Charter Bank’s long term goal is simply to have a banking office in every major northwest city. Still. says Fulp, there's no set sched— ule for these plans. Charter Bank will continue its‘s‘teady growth. on course to break even some time in 1999. In the mean time. said Fulp, “We're all pretty excited to see what the future - holds." Street. The luncheon is $10, payable at the door; for information or reserva-' tions. call the chamber office at 232- 3404. . r 0'50 Year leakprool 2 Limited Warranty “ 0 Fire Resistant 0 Charlie from Shaka, Tile or Slate Profiles Lu 0 (ALPACKOSSM .er N'r'lr'mlm/r/ mu" «ill/luxwuus Skilled : nursing care. . . Reassuring comfort in, homelike Setting At the new Health Center at Covenant Shores, spacious resident rooms open to attractive dining and day areas. Skylights and expansive patio windows brighten a cozy residential interior. And our skilled staff provides the .‘nurslng care you‘d expect from a leading retirement communitynsupportlve care that ' r fosterswellness and independence. 0‘ Short-term rehabilitation . r - Post~hospital recuperation - Long-term care Call today for more information or to schedule a visit to. our statevlicensed skilled nursing residence,-(206) 23643600 or (800) 3624456. {HEALTH CENTER .1 COVENANT SHORES ‘ 0 (mm diam ~ “ A CONTINUING CéRE RETIREMENT COMMUNITY 9150 u. Mercer Way o Mercer-Island, WA 98040 - 206-268-3000 'o (800) 362-1456 a. lll‘YEAiis QF‘CARlNG [yy‘i‘in’v‘g ' ; {Saw/rim: Sigma 1.; orlryiiwomw by, Cowman? [moment Cuminattz‘thr, [m on behalfoftiw [Jami vitamin!th aft)»; Elfrz'ngelml (101thth Church Visit our Web sit at iitripu/fimnvcovenaniretirementcom personal 5 Wedncsdziy. September I998 ‘ r Mutt shears/Mercer island chortyr Charter Bank’s Alan Fulp, senior vice president (left to right); Keith Jackson, president and CEO; and Nick Westlund, director, stand in front of their new bank in downtown Bellevue. ‘ ' Broken Concrete Stairs? . ' Cracked SideWalks or Walkways? REPAIR Instead of Beulane and SAVE "I Our SD-1048 Resin Repair System seals, strengthens and beautlfles most concrete surfaces to a “like-new" condition without the highcost, time and mess associated with traditional concrete replacement. Most repair work can be completed in one day! Ready for foot or. automobile traffic in hours, not weeks! It’s the Permanent Solution to your concrete, repai and beautification needs, and is backed a» by Our unitwe wear ‘ . Call now fora free estimate. ......1-800,-584-91 18> . WA CONTRA. #FINALFCDZZKO For limited time, a special home equity loan'yr'ate A Specifically designed to inspire you. 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