Umpqua Bank opened what it describes as a “boutique store” last month in Northwest Portland, Oregon. Umpqua calls the 1,385-square-foot store its first “neighborhood store” offering “banking, innovation and a place to connect with the community” to both businesses and the general public.
Umpqua’s says it wants its stores to feel like neighborhood hubs. “Every square inch is maximized to provide personalized, community-focused experiences,” the bank says.
“Similar to cafés and other gathering places, Umpqua’s neighborhood stores provide people with an engaging space to browse local merchandise, shop online, enjoy a cup of coffee and learn about community events and resources — in addition to banking.”
Umpqua Bank’s neighborhood store strategy is designed for stores approximately 1,500 square feet in size which can be built in 45 days, compared to the industry average of 120 days, reducing the bank’s construction costs and building time by more than 50%.
All of Umpqua Bank’s neighborhood stores are fully equipped to offer personal banking, mortgage lending, small business banking and commercial lending.
Umpqua’s neighborhood stores have Discover Walls. These multi-screen displays deliver a choreographed video experience in an interactive, sustainable presentation of products and services. Customers can print and takeaway only the materials they want and need. Umpqua’s neighborhood stores feature electronic bulletin boards providing community information and neighborhood event calendars.
There is access to computer cafés called MyBooth that support community and provide connection to online resources. The stores also incorporate enhanced banking automation technologies, including cash recyclers that maximize space and improve store associate efficiency and security.
For the last 5-6 years, Umpqua’s retail branch concepts have been widely celebrated for challenging conventional banking practices and design. The latest location is one of three equally-notable neighborhood stores Umpqua has in Portland.
Umpqua Bank has 153 branch locations in Oregon, northern California and Washington.