Peoples Bank: Finance doesn’t have to be scary
Navigating personal or business finances can be a struggle for anyone. It can be like that confusing 10-page user agreement that came with the latest mobile phone upgrade, but it doesn’t have to be that way.
Peoples Bank & Trust Co. of the Edmond area can take the mystery out of finance, according to Jared Wise, chief operating officer
“We offer a lot of services a big bank does, but we don’t force you to ‘accept, update’ and move on. We’re here for you to help explain all of the government and banking terminologies,” Wise said.
Peoples Bank & Trust Co. was begun in 1906 by M.H. Barrett Sr. in Ryan, Oklahoma. The bank is still owned and operated by the Barrett family — Kay Barrett Branson and her son, Ben Branson, who also serves as the president, CEO, and chairman of the board.
“Peoples Bank is more than a name. It’s how we do business: people to people; face to face,” Branson said.
The bank prides itself on a high-touch approach to concierge-style services to clients. But it is not afraid of technology and offers advanced online and mobile banking products to those who wish to take advantage of them.
“You don’t walk into our bank and have to go to an automated teller or a teller on a screen. You talk to a real person who has gone through the same challenges you have,” Jared Wise said. “We take time to listen and understand; we’re here to help.”
Whether it is trying to understand options for CDs, IRAs, Small Business Administration loans, agriculture loans, HELOCS, or any other financial products, Peoples Bank will have someone to help clients make decisions and help find products that meet their particular needs, even if it’s not with them.
“Being a community bank, we may not have everything for everyone, but we will assist in finding whatever our borrowers need,” Rogers said.
For example, a common misconception about CDs is the amount of coverage customers can qualify for at an FDIC-insured financial institution. Many people think the maximum is $250,000 per institution. However, the standard deposit insurance coverage limit is $250,000 per depositor, per FDIC-insured bank, per ownership category, Assistant Manager Blake Fries explained.
Some people think they can’t have an IRA if they have a 401(k) at work. This is not always the case. Please talk with your tax adviser to see how opening an IRA can benefit you from a tax perspective.
“An IRA is great supplement to your current 401(k) with your employer. Having an IRA along with a 401(k) is a great start for retirement,” Wise said. “We open the IRA up for you just like a CD, and you can pick the term. It can be a fixed CD with a locked in rate and set amount of money.”
The bank’s founder began his career as a pharmacist and small business owner who provided opportunities for small businesses, farms and ranches, education, home and land purchases. That tradition continues today with a suite of agriculture and small business-related lending products.
“Peoples Bank has been able to help small business owners from rural family farms to large nationally branded hotels,” Chief Lending Officer Travis Rogers said.
Peoples Bank has received SBA Express and Preferred Lending status with the Small Business Administration. This status allows them to streamline decisions on applicable credit requests and reduces the time to close for small businesses.
“We became more involved with the SBA after the recession when they were offering special programs to aid in the economic recovery,” Branson said. “We are proud to say that we’ve had a part in creating and maintaining jobs and adding to economic growth. We continue to make this a major objective in our business model.”
While providing hightouch, personalized services to its clients, Peoples Bank also embraced technology to provide full-service online and mobile banking products through its website www.PeoplesBankUSA.com.
“Our ‘Bank on the Go’ online banking services let clients monitor their accounts,” Wise said. “But it goes further by helping keep track of funds and spending habits with its Funds Manager feature.”
Peoples Bank’s Online Banking service helps clients budget, work toward financial goals, calculate net worth, add other accounts, track spending through one login and retrieve a personal financial statement all at the click of a button.
“After you get online banking, take it to the next step for on-the-go information with our Mobile Banking App service that allows you to access your account information and pay bills with your cellphone or tablet,” Wise said
If you want a bank that will work with you and take time to explain new technology to customers, Peoples Bank & Trust Co. of Edmond is your bank. For more information, call 405-531-9420, visit Peoples Bank at 2400 NW 178, or go to www. PeoplesBankUSA.com.
This article is sponsored by Peoples Bank & Trust of Edmond.