Alison Hero thought she was ready for the pandemic. She prepared an updated menu on a new online ordering system for her restaurant, Silverwater Café, in the small Washington state town of Port Townsend, with a goal of creating to-go, family-style meals. Like many, Hero assumed the pandemic might lead to a month of temporary closure.
April came and went, followed by what was typically the beginning of a bustling tourist season in the Victorian-era seaport. Hero’s savings were fast disappearing, and she was operating at a loss. Tearful, she started hanging “Thank you for 31 years” signs in the cafe’s windows.
Then, the phone rang. Candice Cotterill, Hero’s personal banker at 1st Security Bank, a community bank with a Port Townsend branch, was on the line. Over Zoom meetings, Cotterill showed Hero and her business partner how to apply for the PPP loans. She maintained constant phone contact as the loan process moved forward, and later, when she filed the application for forgiveness, Cotterill was there to guide her through that process. The restaurant reopened in early 2021.
“I felt like she had my best interests at heart,” Hero says. “PPP saved us, and we wouldn’t be here without that bank.”
Alison Hero’s Silverwater Café, in the small town of Port Townsend, survived the pandemic thanks to vital help from 1st Security Bank, her community bank.
The personal touch
That first-name basis, personal concern and community spirit leads many business owners to community banking. Community banks provide consumer checking and savings, business banking and home loans to customers, but primarily within the local area served, and often, with a more personal touch.
Most community banks have a deeper understanding of the unique financial needs in their home territories, resulting in close, long-term customer relationships.
“We get the feeling that 1st Security Bank employees are looking out for everyone else’s best interests,” says Mari Mullen, executive director of the nonprofit Port Townsend Main Street Program. “Community banks, in general, excel in customer service.”
Many bank employees even double as enthusiastic community event volunteers like Wendy Duede, 1st Security Bank’s Market Manager for the Olympic Peninsula, and her staff. 1st Security Bank participates in a winter lights program and assists with other local nonprofits’ events and fundraisers. A giving tree in the bank’s lobby helps families in need over the holidays, and the financial institution donates to the local farmer’s market food subsidy program.
“We’re a town where we encourage each other to eat in local restaurants, shop at local stores and support our local economy,” Mullen adds. “Going local is a key message, and we all share a passion for wanting people to be prosperous and thrive here.”
At 1st Security Bank of Washington, we take a customized and personal approach to your financial well-being. We live in the communities we serve, so our 21 branches offer tailored solutions to their communities. We believe relationships make the difference, and that sets 1st Security Bank apart.
