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Changing Banks is an Easier When a private business owner partners with the right business bank, an outstanding relationship is formed-the bank understands your business, offers easy access to a loan officer and delivers quick decisions. But inattentive service at a bank and high officer turnover make those key factors impossible. The National Federation of Independent Business found that 13 percent of businesses experienced three or more account managers in a three-year period at their bank. Another 7 percent of businesses said they never had an account manager at all. "A company should consider switching banks when they aren't getting the service they deserve," said Roger Teeling, SVP Commercial Banking at Leaders Bank. "Changing banks is certainly more of a perceived hassle than a reality." The small effort in moving to a better bank delivers an immediate impact. It can eliminate poor service, such as calls to the bank going unreturned, incorrect service charges or a lack of willingness with flexible financing, while also providing added value. In the case of Leaders Bank, which caters primarily to privately-held businesses, experienced bankers offer personalized advice and access to the bank's professional network. When a business owner decides to move to Leaders, the banking transition is made as easy as possible with the guidance of an Implementation Team-a lender and a treasury management specialist. "We work efficiently with the client to get the information that's needed. Once we have that, we can be in and out of a customer's office in 15 minutes with the necessary documentation for the new banking relationship," said Teeling. Leaders Bank then ensures that all systems and accounts are set up prior to an anticipated start date, including thorough testing of online access and remote capabilities. "During the banking transition, a customer simply operates the business as normal," Teeling noted. And when the last check clears from the old bank, that account is closed. Justin Cyrnek, President of Chicago Industrial Equipment, says he made the right move when he changed to Leaders after several bad bank relationships and banking transitions. "Leaders made sure it was done the correct way. They made the point that it would be done as easily as possible, and they did it," said Cyrnek. Leaders Bank now provides Chicago Industrial with equipment financing, investment products and treasury management solutions including remote deposit. The Leaders focus on long-term relationships and personalized service means that customers see a significant difference from previous banks. "With big banks, there was always a problem. It's nice to be with a smaller bank that's more personable," added Cyrnek. "Whenever I need something, I can pick up the phone and it's quickly handled." That regular access to rapid decision-making is a benefit some businesses may have never experienced. "What truly separates Leaders Bank is our ability to take care of urgent customer needs. It's possible to have a loan approved for a client within a couple of days if the customer truly needs it," said Teeling. "There's no need to call another office in another state to get somebody to try to understand the client we have here." |
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