US Bank branches focus on LGBTQ+ community
PHOENIX – From the outside, and even the inside, a U.S. Bank location north of downtown Phoenix doesn’t look all that much different from any other branch in the company’s network. There is some subtle rainbowthemed signage on the windows, plus interior artwork that includes a collage with a same-sex couple.
The branch, however, places a special emphasis on welcoming LGBTQ+ people. Staff members represent and understand the community’s needs, according to the bank. Anyone can bank at the branch, but the company is offering a special invite to members of the LGBTQ+ community. “It is subtle, but if you’re not used to seeing anything, it makes a big difference,” said Dom Sims, a U.S. Bank regional leader focused on the LGBTQ+ community.
The location is U.S. Bank’s first branch in Arizona focused on LGBTQ+ people, but the company operates 10 other locations around the nation focused on specific communities.
In addition to LGBTQ+ people, branches are geared toward Black people, military personnel and veterans, as well as Asian Americans, Hawaiians and Pacific Islanders. These branches are in the Los Angeles, San Francisco, Chicago or Seattle areas. U.S. Bank is planning to open more branches focused on particular communities, including those focused on Latinos.
U.S. Bank has been operating the branch since 1999. The company evaluated the needs of the LGBTQ+ community before transforming the branch, which Phoenix Mayor Kate Gallego visited this week as part of a quick tour.
“I love it that anyone can feel welcome in this branch,” she said. The branch’s proximity to the Melrose District several blocks to the west, with its many businesses oriented to LGBTQ+ people, was cited as a factor in giving it a community focus last year.
A few other banks also have opened branches targeted to subgroups, though most focus on Latino or Black customers. However, Chase does have a branch in the Greenwich Village section of New York City, featuring rainbow awnings, that’s located around the corner from the Stonewall Inn, the site of a 1969 riot that marked a turning point for LGBTQ+ rights.
The U.S. Census Bureau estimates that 8% of the population belongs to the LGBTQ+ community. A Gallup survey cited by U.S. Bank estimated that bisexuals account for 57% of this group, gay men 21% and lesbians 14%, with transgender people and individuals of other sexual orientations or gender identities making up the rest.
A U.S. Bank report issued in 2022 found that LGBTQ+ people reported financial achievements and progress similar to, and in some cases better than, the non-LGBTQ+ population.
Still, the report cited some situations that a dedicated branch might be better equipped to address.
“Transgender and nonbinary people face unique challenges when interacting with financial institutions,” the U.S. Bank report said. “Having to utilize an incorrect name or gender while carrying out financial transactions is dangerous for transgender customers, and changing those things on financial accounts can be a costly, difficult process that often requires legal paperwork.”