On the surface, this may seem like a strange question with an obvious answer, but when we look at how the megabanks are treating customers, maybe it is not. The PPP program is an example of how to turn loyal customers at one bank into great customers of another. One of the megabanks I am aware of told their Relationship Managers, the night before the PPP program was to roll out, “sorry we are full-up on the program.” Trust was lost not just with the disappointed customer but also on the loyal employee who had to break the news to their client.

Too many times, clients of the megabanks are treated as a number rather than loyal customers; now these same clients are finding their way to good regional and smaller banks. A friend of mine who runs a large division for a great regional bank told me they were having a fantastic year and attributed that in part to how the megabanks were treating the customers and employees. 

Relationships create loyalty. Relationships create income. Relationships create a foundational client base. Do relationships matter? I will give you the number of my friend, and you can ask their smiling face.  

Michael Cureton; Executive Banking Recruiter