Corporate Spin (aka BS)

I read today that the bank branch that I have been using for almost 20 years, is closing this Spring.

Courtesy of Google Street View

That, in and of itself is not a crisis in my life as most of our banking is done online. I suppose that is at least partially responsible for the closure.

My grief is further mitigated by the fact that my days of daily visits and getting to know the employees at the branch are in the rearview mirror.

When we purchased our businesses in 1999, the mortgages, trust accounts, operating accounts, and our personal accounts were all opened with Regions and since we were only a block away, I often walked there to transact business.  As Regions got bigger and bigger, the local officers were no longer able to make the simplest of decisions without calling to the home office, slowing down the process and often not being able to serve their local customers.  It got so bad that I once asked the branch president, who was a pretty close buddy if he had to call up to Charlotte to see if it was OK to go to the bathroom? He did not deny it and retired not too long after that. Even with all the corporate BS, we stayed and still are customers.  But it was never the same.

I do feel bad for the many elderly patrons, who live on the North side of town who will now need to drive an extra three (congested) miles to the much smaller, Southside branch, which is located at the busiest and most dangerous intersection in our fair city.

What makes me respond however is the reasoning for the closure. I don’t know, nor have I ever met Mr. Campbell, the spokesman for Regions Bank and he may be a nice guy. Anyone, however who reads his statement and takes it at face value is, in my opinion,  a special kind of gullible.

Here is the link to the article in today’s Aiken Standard.

Here is the explanation as to why:

 “In recent years, Regions has taken a very deliberate approach to evolving how we serve our customers, looking at both new models for business and our branch locations,” Campbell said. “Our focus has been on enhancing the total customer experience across all our delivery channels and reviewing locations and policies so we can use our resources as efficiently as possible. “A careful review of our branch locations around Aiken,” he continued, “identified opportunities to consolidate based on new technology, volume, the proximity of other branches, profitability and other factors. We will make every effort to identify other jobs in the company for affected associate where possible. 

A more practical explanation may have been…”We are closing the historic, three-story main branch, formerly home to Palmetto Savings and Loan as it is a money drain and hurting our regional profitability.  As the property is located adjacent the revitalized, upscale  “Alley Business Zone,” we expect a developer to make a handsome offer on the property, probably before you read this announcement.

I could never be a corporate information officer.   Well, I could, but would probably be fired in a week or two for being honest.

Thanks for letting me vent.

The world continues spinning and a big announcement is coming soon. (No, I’m not going to work for Regions).


About Ray V.

Living between Aiken & Nashville, TN, USA, I like to share what I am looking at, thinking about or listening to. I refer to this as the view out my window. Thanks for stopping by.
This entry was posted in Aiken SC, America, Changes, Uncategorized and tagged , , , , , . Bookmark the permalink.

8 Responses to Corporate Spin (aka BS)

  1. David says:

    I sympathise. My bank closed our branch three years ago after sending out similar letters that were full of untruths. We are now supposed to travel fifteen miles to use banking facilities. Or we can use the Post Office, which now comprises a couple of manned counters in the rear of a newsagents. The old Post Office, which was full of character, is now a pub! Some of the smaller towns in our area already have no bank branches left. Tragic.

    Liked by 2 people

  2. josiesvoice says:

    In some places, a few bank branches and even a few post offices get anchored inside a mall or grocery for more foot traffic.I just hope that no jobs get replaced with robots(cheaper for the bosses–no wages, no paid benefits).I still prefer the human,face to face approach or even the human voice during customer phone services.

    Liked by 1 person

  3. Sue W says:

    Some years ago I changed my bank to another major simply because it closed the branch in our village. I never thought I’d see the day when two of our major banks would close down branches in the nearest little town, but they did. Now if I need the bank itself I have a half hour drive. fortunately, most of my transactions are carried out online.

    Liked by 2 people

  4. Live & Learn says:

    Big Announcement! I’m on the edge of my seat. Bring it on!

    Liked by 1 person

  5. Live & Learn says:

    Oh, here I thought any career change was afoot. 🙂

    Liked by 1 person

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