The Umpqua Bank opened its first branch back in 1953, with 6 employees and $75,000 in assets. Today it has $22 billion in assets, 5,000 employees and 394 branches in five states. The latest expansion occurred in 2013 when Umpqua bank bought Sterling Savings Bank and doubled its size and service area in the process.
How Does It Work?
Umpqua Bank is a community bank that offers full-service banking to individuals and non-profits. This includes competitive rates and terms on personal loans. Their website is one of the hippest and most beautifully designed you are likely to see for a bank.
How Is It Better Than Other Banks?
Although it is the largest bank headquartered in Oregon, Umpqua has maintained its small-bank community focus. For instance, workers receive 40 hours a year of paid time they can use to volunteer in the community. Its branches offer free -- but good -- coffee, public-use computers, wi-fi and fresh-baked cookies on Friday; which makes them feel more your neighborhood coffee shop than a bank. Apart from great customer service, their personal loan rates are very competitive, particularly if you want the money for a home improvement. Having said that, the top rates are only available for borrowers with excellent credit and borrowers with fair to bad credit will have to look elsewhere.
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