Senior finances: How families should help Nov 04, 2013, 8:45 am By Heidi Carmack Pfaffroth

Putting checks in place, not blame

Families are often together during the holidays, making it a great time to talk about how everyone can be involved in protecting senior family members from financial abuse. Some shy away from money talk, but families can take the pressure off the situation by making the conversation about putting checks in place, not about blame.

In Utah, up to $1 million a day is stolen from seniors—an average of $85,253 per victim (Source: The Utah Cost of Financial Exploitation, Jilenne Gunther, MSW, ID, Legal Services Developer, Utah Division of Aging and Adult Services). The majority of seniors are exploited when they become unable to manage their own finances and they have to ask for help. However, families and trusted friends or advisors can put systems in place so that help is available when needed, without the threat of fraud or liability of false accusations.

The top three ways seniors are exploited happen when seniors deed their homes, add others as a joint bank account holder or give to someone else a  general financial power of attorney. These are often done to make it easier to manage their finances, but there are ways to help without so much risk. Since 57 percent of the amount stolen from seniors is stolen by family members, putting precautions in place protects everyone involved.

Use third-party monitoring. Instead of giving the helper joint access to accounts to make sure the senior family member isn’t being scammed, consider asking a family member, CPA or trusted friend to monitor accounts with extra statements or online view-only access. There are several ways this acts as a precaution. In a situation where the helper has read-only access instead of joint account access, helpers can watch for scams or fraud by others, while the senior still maintains full control over their finances. On the other side, if a helper is added as a joint account owner, they are seen as an equal, regardless of who originally owned the account. One of the implications of having a helper that has joint access is that they can make payments or account changes without any approval from the senior. Another is that now that account and the senior are vulnerable to lawsuits or tax liability of the joint owner—the money, by law, is seen as theirs and can be seized.

Limit access to nest eggs.  If a senior has a nest egg, and a helper is needed to manage bills or payments, consider adding the helper to a second smaller account. At Bank of American Fork, seniors can set up automatic transfers each month so the amount that is needed to pay bills would come from the larger account that income is deposited in. Then, the helper can be given access to the smaller account for paying bills, limiting the risk of fraud to only the balance in the smaller account.

Use a limited power of attorney agreement instead of a general financial power of attorney. A general financial power of attorney agreement means that the helper has unlimited power—to sell the house or car even. This creates serious temptation, even for honest people. Using a limited power of attorney agreement to assist with smaller accounts only means that the senior can still get the help they need, but in a less risky way. This also protects the helper or family member involved from being falsely accused of mismanaging funds or other assets. Sometimes disagreements within families about how to manage the senior family member’s finances result in false blame.

Don’t deed your home. A senior who deeds their home can be kicked out—they no longer control the home. This can be the result of conscious fraud, but it can also be an accident. The home is now vulnerable to a lawsuit or liability against the helper that the home is deeded to, and can be repossessed. Most of the time, a home is the owner’s largest asset. Thus, it is recommended that they keep this financial safety net as long as possible.

Choose advisors carefully.  If you or your family member is considering hiring a new broker, attorney, accountant or other professional, be sure they’re properly registered or licensed. Don’t be afraid to ask questions or say no. After all, it’s your money!

Protect your personal financial information.  Never give out your bank account numbers, Social Security numbers, PINs, passwords or other sensitive information unless you made the contact. Even if you did make the contact, it’s okay to ask why the person asking for it needs it. Keep your checkbook, account statements and other sensitive information in a safe place and shred old documents that have this information on them. If you’re concerned about remembering these numbers and want to share them with family members in case of an emergency, consider giving access to each of these numbers to different helpers—so no one person has full access.

Closely monitor credit card and bank account activity. We mentioned that read-only access is a good alternative to adding a joint account holder. Make sure that the senior and the helper with read-only access are reviewing account activity often.

Take your time when making major financial decisions. It’s okay to ask a lot of questions and make sure you understand the decision you’re making. If you don’t, talk to your lawyer or trusted financial advisor. If you are being pressured to do something right away, or if someone tells you that you have to do something right now, walk away.

Beware of requests from strangers or solicitors selling goods, services or “need-to-know information.”

• Be suspicious of calls from any company or organization that you don’t have a prior relationship with. If you want to reduce the number of telemarketing calls you receive, you can sign up for the national Do Not Call Registry (call 1-888-382-1222 or visit www.donotcall.gov).

• Don’t comply with a request from a stranger to deposit a check into your account and wire some or all of it back—if the check you received was counterfeit, you could be held responsible for the losses.

• Be aware of scams involving reverse mortgages, or any other salesman using high-pressure tactics to sell you something.

• One of the ways scammers target seniors is by using information about their families to get money. A caller may contact you and pretend to be a relative in distress, asking you to wire money. Make sure you talk to another close relative of that person, and call the relative in distress with the phone number you have for them. Talk to your banker or a trusted advisor, who may be aware of similar scams in your area.

• If someone tells you that you have to have it or do it, don’t hesitate to take down their information and talk to a trusted helper before you send or buy anything.

The best way to protect yourself or your family members from fraud is by setting up these regular checks ahead of time. Just as a business owner wouldn’t give full access to make changes and decisions to the accountant without some checks and balances, families should have some checks in place to keep decisions transparent. Families who trust and care about each other can set up financial plans that will protect everyone involved from fraud or liability—these tips aren’t just for repeat offenders or seniors who don’t trust their helpers.

Bank of American Fork offers products specifically designed with this issue in mind—seniors who want or need some help, but want to be protected from fraud, and families who want to be helpers, without the liabilities of full control. Visit a branch to set up AccountSmart Tools for Seniors, or to find out more, call 800-815-BANK or visit www.bankaf.com.

Event: Solar power at home and work Nov 01, 2013, 8:00 am By Heidi Carmack Pfaffroth

The new Utah gold rush

A perfect storm is brewing for solar energy in Utah. The installed cost of photovoltaic, or PV, solar panels continues to decline, and Rocky Mountain Power projects significant rate increases throughout the coming decade. With tax breaks, government rebates and favorable banking finance programs, solar adoption is rising brightly on the Beehive State’s energy horizon.

Bank of American Fork is a sponsor for a panel discussion on the benefits and implementation process of solar systems for homes, apartments and businesses. The panel will be on Friday, November 8 from noon to 1:30 p.m. at the Provo Marriott, 101 W 100 N in Provo.

The panelists include Dr. Bernell Stone, Global Energy Management; Scott Cruze, Concept Property Management; Erik Anderson, Rocky Mountain Power; James Johnston, The NRG Bureau; Jeff Barrett, Governor’s Office of Economic Development, Energy Division; and Orrin Farnsworth, Utah Solar Energy Association. Panelists will discuss the trends, incentives, costs and favorable payback expectations for commercial and residential solar power retrofit and usage. Unlike typical investment risks, solar energy’s future looks brighter by the day. All attendees will receive the Solar ROI Case Study & White Paper, which is the same data Warren Buffet’s solar team is reviewing.

This event is a must for you if you are a:

• Homebuilder—Green, energy-efficient homes are in demand.

• Financial advisor—Solar tax advantages are at an all-time high.

• Commercial property owner—Get your share of $7.8 million in Utah solar rebates.

• Homeowner—Own your own power plant for $1 a day in less than 10 years.

Register for the event here: http://bit.ly/1aKg4rW.

This event is presented by Progressive Power Solutions and sponsored by Bank of American Fork, Utah Valley Home Builders Association, GOED, Concept Property Management, Utah Solar Energy Association, City of Provo, Utah Technology Magazine, Progressive Power Solutions, Real Goods Solar and Platt Electric.

The truth about prepaid cards Oct 31, 2013, 8:10 am By Heidi Carmack Pfaffroth

There’s a lot of hype surrounding prepaid, reloadable cards—with providers promising “no annual, monthly or overdraft fees and no minimum balance.” Users are interested in the idea of feeling like they aren’t tied to a bank.

Bank of American Fork exists to strengthen individuals and communities by providing safe financial services, and our dedication to our customers motivates us to develop products and services that fit your needs. Since there has been this buzz about prepaid, reloadable cards, our product development team decided to consider whether we could and how we should offer this product.

After extensive research, we concluded that this product may not be beneficial, or even desirable, to our customers. We want to tell you more about what we learned.

Research showed that there is little demand among our customers for this type of product, and where there is a demand there is reluctance to pay fees. However, one of the findings about existing prepaid cards is that they still carry fees—most of them more expensive than a checking account. An article in The Banc Investment Daily said the same thing. (Banc Investment Group, LLC. “Banc Investment Daily: No song bird,” PCBB, October 3, 2013).

If consumers want a product that allows them the flexibility of using a card, but hesitate to use a product that has fees, there are likely better options for them out there.

Many community banks still offer free banking services for many products, including free checking accounts that come with a debit card. The standard definition of a “free” checking account is a checking account with no minimum balance requirement and no monthly fee. In fact, Bank of American Fork offers a high-yield checking account with a free debit card, nationwide ATM refunds and more. You can read more details about this account at www.bankaf.com/MyRate. This type of account is low-cost, safe and easy for customers and usually fills the needs of those who are interested in the convenience of a prepaid card.

Besides the fee income a company earns from offering prepaid cards, why else are companies offering them? Is there really a high demand for them? Or have many of the benefits been oversold, creating the demand? Companies may not be offering prepaid cards just because they believe their customers want them, but also to encourage a product that earns them income and costs them less.

While much of the hype says that prepaid cards are a way to get away from banks, the fact is that regardless of where you buy a prepaid card, it’s still a bank product. Most companies are just offering financial services through a partnership with a bank, without a bank charter.

If you’re looking for a card that has low fees and allows you flexibility with loading and reloading, consider a financial institution that has a free checking account. They’re still out there.

Event: Utah economic update Oct 30, 2013, 8:00 am By Heidi Carmack Pfaffroth

What are the current housing and employment conditions in Utah? What is the outlook for the Utah economy in 2014?

On November 14, Bank of American Fork and Jim Wood, director of the Bureau of Economic and Business Research, University of Utah, will team up to provide an update on Utah’s economy. Wood will provide insight into the current state of the Utah economy with a special focus on the housing market and employment issues. In addition, he will lay out expectations for the coming year to help you make decisions for your business. A light lunch will be provided. RSVP to heidi.carmack@bankaf.com or at 801-642-3139.

Nov 14, 11:30 – 1:00

Bank of American Fork, Riverton Branch

2691 West 12600 South

Riverton, UT 84065

 

James A. Wood, Director, Bureau of Economic and Business Research, University of Utah
James Wood joined the Bureau in 1975.  He graduated from the University of Utah in finance in 1967 and did graduate work in economics at the University of Utah from 1970 to 1974.  From 1975 to 2002 he was a senior research analyst at the Bureau and since 2002 has served as director.  His areas of research specialization are: (1) housing (2) construction (3) real estate and (4) economic development.  He currently serves as a member of the Governor’s Council of Economic Advisors, State of Utah Revenue Assumptions Committee, the Salt Lake Downtown Alliance Development Committee, past president of the Wasatch Front Economic Forum and a member of the board of Salt Lake Neighborhood Housing Services.  He has published more than 100 articles and studies on topics related to the Utah economy.

Bonus history and cookie spotlight: Layton’s one-year anniversary Oct 29, 2013, 8:20 am By Heidi Carmack Pfaffroth

We’re celebrating one hundred years of serving Utah communities with free cookie Fridays. Each month one of our 13 branches will be spotlighted—for that month, the spotlighted branch will have free cookies in their lobby. This month we are doubling up with Draper and Layton spotlights! November 19 is our one-year anniversary of the Layton branch. You can read a little bit about the history of Bank of American Fork below, with a history of the spotlighted branch. For a deeper history and to view photos visit here and select “downloads”.

Bank of American Fork was established in 1913 as The People’s State Bank of American Fork. The first two decades after opening brought success for the bank and its reputation for being safe and sound was solidified. Challenges came in 1932, when the People’s State Bank of American Fork closed its doors to prevent a run on deposits. While a third of the nation’s banks did the same and never reopened, the People’s State Bank was open for business nine months later after tremendous sacrifice on the part of its management. The 1940s and ‘50s were better years for banking, and the People’s State Bank of American Fork thrived. In the 1960s the name was shortened to Bank of American Fork and proved itself a technological leader when it made a large investment in upgrading to advanced computerized systems. In the ‘80s and ‘90s, Bank of American Fork began to receive national recognition for being safe and strong. It was during this time that the bank began strategic expansion across Utah, finding communities where Bank of American Fork fit and filled needs. Today, we are proud to be a part of 13 communities, and Utah’s community bank leader.

Layton Branch November 19, 2012 Bank of American Fork opened its 13th branch and first in Davis County. The bank was staffed with locals and a Davis County Advisory Board was established to ensure strong ties to Layton and surrounding communities. After a Kaysville-based community bank closed, Bank of American Fork saw a need in Davis County for a community bank. A loan officer began generating loans in the Layton area, and the bank purchased a portion of the previous Barnes Bank’s loans. Bank of American Fork hired seasoned Davis County bankers and established an advisory board made up of prominent members of the commercial market in Davis County to keep tied to the needs of the community in Layton.

Don’t forget to stop by the Layton branch on Fridays in November for cookies!

November branch spotlight and cookies: Draper Oct 28, 2013, 8:40 am By Heidi Carmack Pfaffroth

We’re celebrating one hundred years of serving Utah communities with free cookie Fridays. Each month one of our 13 branches will be spotlighted—for that month, the spotlighted branch will have free cookies in their lobby. You can read a little bit about the history of Bank of American Fork below, with a history of the spotlighted branch. For a deeper history and to view photos visit here and select “downloads”.

Bank of American Fork was established in 1913 as The People’s State Bank of American Fork. The first two decades after opening brought success for the bank and its reputation for being safe and sound was solidified. Challenges came in 1932, when the People’s State Bank of American Fork closed its doors to prevent a run on deposits. While a third of the nation’s banks did the same and never reopened, the People’s State Bank was open for business nine months later after tremendous sacrifice on the part of its management. The 1940s and ‘50s were better years for banking, and the People’s State Bank of American Fork thrived. In the 1960s the name was shortened to Bank of American Fork and proved itself a technological leader when it made a large investment in upgrading to advanced computerized systems. In the ‘80s and ‘90s, Bank of American Fork began to receive national recognition for being safe and strong. It was during this time that the bank began strategic expansion across Utah, finding communities where Bank of American Fork fit and filled needs. Today, we are proud to be a part of 13 communities, and Utah’s community bank leader.

Draper Branch July 2, 2001 The eighth branch opened in a strip mall as Bank of American Fork’s first branch in Salt Lake County. Utah was the third fastest-growing state in the nation; between the 2000 and 2010 census, population grew an astounding 23 percent. Utah County was the fastest-growing county in the state and Bank President Dale Gunther began to notice particular population and retail growth in the Draper area, just past the northern border of Utah County. While searching for the right permanent spot, the branch opened in a strip mall. The staff moved into a new branch building in June 2005, after they finally found a better spot, closed the deal on a new spot and designed and built the new building.

Don’t forget to stop by the Draper branch on Fridays this month and grab a cookie!

Bank of American Fork helps keep seniors safe Oct 24, 2013, 8:40 am By Heidi Carmack Pfaffroth

Charter presentation kicks off Senior Crimestoppers at Rocky Mountain Care

Last week Bank of American Fork and Senior Housing Crime Prevention Foundation teamed up to present the Senior Crimestoppers program at Rocky Mountain Care Center in Murray. Senior Crimestoppers is a coordinated set of components that work together to create a zero-tolerance-to-crime platform in senior housing facilities. Components include personal lockboxes for the residents, cash rewards up to $1,000 paid anonymously for information about wrongdoing of any kind and education and training for staff members and residents. Senior Crimestoppers has reduced all aspects of crime in participating facilities by 92 percent. Bank of American Fork is the first Utah bank to fund this program.

“This marks the formal announcement that Rocky Mountain Care is the newest member of Senior Crimestoppers,” said George Clinard, vice president of Senior Housing Crime Prevention Foundation. “Our mission is to provide a safe and secure living condition. The reason this program works is because it’s made up of a group of components that all work together.”

“We’re excited to be a part of this. We are committed to communities,” said Rick Anderson, senior vice president, Bank of American Fork. “My father recently lost some money because he thought he was helping someone in need. He’s a former college professor and we wouldn’t have expected this, but crime can happen to anyone. We’re committed to helping protect against this and other types of crimes against seniors.”

After presenting the Senior Crimestoppers charter plaque at Rocky Mountain Care in Murray. Kim Bangerter, administrator, Rocky Mountain Care; Tracey Larson, senior vice president, Bank of American Fork and financial representative, Governor’s Commission on Aging; Jon Allen, chief compliance officer, Bank of American Fork; Rick Anderson, senior vice president, Bank of American Fork; Carol Van Horst, field representative, Senior Housing Crime Prevention Foundation; George Clinard, vice president, Senior Housing Crime Prevention Foundation; Bill Swadley, vice president and CRA officer, Bank of American Fork; with residents Roberta Read and Robyn Fewkes.

One of the fun parts of the Senior Crimestoppers program is an annual $250 check for the care facility to use as they see a need—some throw a party for residents and other facilities use it to help a specific individual. Rocky Mountain Care had already designated what they would use their first “Wish Comes True” check for.

“We’re using this to purchase an iPad for a resident that can’t speak for himself,” said Kim Bangerter, administrator for Rocky Mountain Care. “This will allow him to communicate with staff and other residents.”

Some residents in the sponsored facilities have already received their personal lockboxes, and one resident told the group that she loves her lockbox. She said that knowing that only she knows where her key is allows her to feel secure that her important items—like Christmas gift money, her will and photos of her family—are safe.

Also in attendance was Tracey Larson, vice president and special projects manager at Bank of American Fork, who was recently appointed as the financial representative for the Governor’s Commission on Aging. Larson and Jilenne Gunther, from the Utah Department of Aging and Adult Services, will continue the conversation about how to protect seniors from financial abuse on a live internet radio show on November 20 at 6:00 Mountain Time, at www.latalkradio.com.

First bank merger in Utah since 2008 recession Oct 21, 2013, 9:07 am By Heidi Carmack Pfaffroth

People’s Utah Bancorp and Lewiston Bancorp merger closes

Lewiston State Bank President and CEO Anthony Hall (left) and People’s Utah Bancorp President and CEO Richard Beard (right) after the merger was approved.

People’s Utah Bancorp and Lewiston Bancorp have merged their holding companies—the first bank merger in Utah since before the 2008 recession. The merger closed today, October 18, following approval by regulatory agencies, shareholders of Lewiston and both boards of directors.

“The People’s Utah Bancorp and Lewiston Bancorp merger is the first unassisted merger in Utah since Far West Bank was acquired by American West Bancorp in 2007,” said Tom Bay, supervisor of banks, Utah Department of Financial Institutions. “Smaller banks are seeing their burden increase. They feel like they survived the downturn just to be hit in the gut with what they feel is an increasing regulatory environment. Mergers can be a way of using economies of scale to help with the increased fixed costs of doing business. Utah is not like California or other states with many banks and a lot of merger activity going on, so it’s harder to see a trend here, but I would not be surprised to see more mergers in Utah going forward.”

“The purpose of this merger is to ensure that both banks are able to continue the highly personal service that each has provided for a hundred years or more in an economic and regulatory environment that makes it hard for community banks to compete,” said Richard Beard, president and CEO of People’s Utah Bancorp. “We wanted to figure out a way to help community banks come together and preserve what is good about the system. This merger combines years of community banking commitment and experience under one roof.”

In June, the companies jointly announced an agreement to merge their holding companies and operate their bank subsidiaries, Bank of American Fork and Lewiston State Bank, under People’s Utah Bancorp. The merger was dependent on various regulatory approvals and a shareholder vote in favor of the transaction. All of those were obtained by October 15. The closing occurred today.

As of September 30, 2013, People’s Utah Bancorp had approximately 320 employees, $1 billion in assets, loans of $643 million, deposits of $900 million and equity of $120 million. Lewiston had approximately 90 employees, $257 million in assets, loans of $180 million, deposits of $223 million and equity of $28 million.  The combined holding company now operates under the name People’s Utah Bancorp and has approximately $1.2 billion in assets.  Bank of American Fork, with 14 locations in Utah, and Lewiston State Bank, with four locations in Utah and Idaho, will continue to operate under their respective names. Customers of both banks will continue to receive the personal, friendly service from bank staff they have come to know and trust.

“Between our two banks there are more than 200 years of combined banking experience,” Beard said.  “The community values and traditions that both banks share makes this partnership work for the organizations, employees, customers and communities we serve. Blending the talented management and staff of both banks helps put People’s Utah Bancorp in a clear position as Utah’s community bank leader in service, asset size and deposit size. This combination will help grow and foster the local community banking system that is vital to the economy, small businesses and Utah communities.”

“I am pleased with the working relationships between the two banks and the enhanced ability both will have to serve our respective customers,” said Anthony J. Hall, president and CEO of Lewiston State Bank and chairman of Utah Bankers Association. “We will maintain our name and local presence going forward. We look forward to the benefits from developing a statewide community banking group. The merger offers many benefits for our shareholders, our employees, and most importantly, our customers.”

People’s Utah was advised in the transaction by D.A. Davidson & Co., as financial advisor. Lewiston was advised by Sandler O’Neill + Partners, L.P., as financial advisor.

Tips for protecting mobile devices during cyber security awareness month Oct 07, 2013, 10:28 am By Heidi Carmack Pfaffroth

Courtesy of American Bankers Association

We’ve told you about our mobile apps for smartphones and tablets, but since October is cyber security awareness month, we want to make sure you know what you can do to help protect yourself when you use your mobile device. At Bank of American Fork, we’ve put precautions in place to help protect you when you’re using mobile banking, but just like you wouldn’t leave your checkbook laying around, you can help with mobile security.

The number of attacks on mobile devices is growing, in part, as a result of the increased popularity of mobile banking. According to a 2013 report by the Federal Reserve, 87 percent of the U.S. population has a mobile phone and 52 percent have smart phones. Of those mobile phone users, 28 percent have performed banking transaction in the past 12 months.

The rise in the popularity of mobile devices has certainly made them a target for cyber-criminals. The types of attacks we’re seeing have generally been used on PCs but are now making their way to other devices. Banks work hard to protect customer information and customers play an important role. Any device used to connect to the Internet is at risk and we urge users to keep safety measures in place.

In recognition of National Cyber Security Awareness Month, we recommend that consumers take extra precaution to protect the data on their mobile device by doing the following:

• Use the passcode lock on your smartphone and other devices. This will make it more difficult for thieves to access your information if your device is lost or stolen.

• Log out completely when you finish a mobile banking session.

• Protect your phone from viruses and malicious software, or malware, just like you do for your computer by installing mobile security software.

• Use caution when downloading apps. Apps can contain malicious software, worms, and viruses. Beware of apps that ask for unnecessary “permissions.”

• Download the updates for your phone and mobile apps.

• Avoid storing sensitive information like passwords or a social security number on your mobile device.

• Tell your financial institution immediately if you change your phone number or lose your mobile device.

• Be aware of shoulder surfers. The most basic form of information theft is observation. Be aware of your surroundings especially when you’re punching in sensitive information.

• Wipe your mobile device before you donate, sell or trade it using specialized software or using the manufacturer’s recommended technique. Some software allows you to wipe your device remotely if it is lost or stolen.

• Report any suspected fraud to your bank immediately.

Remember that banking online can be safe and secure if you follow some of these precautions. Bank of American Fork is committed to your security. To read more about the things that the bank does to help keep you safe in mobile banking, visit us here.

What other tips have you heard for keeping data on your mobile device safe?

October branch spotlight and cookies: Murray Sep 30, 2013, 9:20 am By Heidi Carmack Pfaffroth

We’re celebrating one hundred years of serving Utah communities with free cookie Fridays. Each month one of our 13 branches will be spotlighted—for that month, the spotlighted branch will have free cookies in their lobby. You can read a little bit about the history of Bank of American Fork below, with a history of the spotlighted branch. For a deeper history and to view photos visit here and select “downloads”.

Bank of American Fork was established in 1913 as The People’s State Bank of American Fork. The first two decades after opening brought success for the bank and its reputation for being safe and sound was solidified. Challenges came in 1932, when the People’s State Bank of American Fork closed its doors to prevent a run on deposits. While a third of the nation’s banks did the same and never reopened, the People’s State Bank was open for business nine months later after tremendous sacrifice on the part of its management. The 1940s and ‘50s were better years for banking, and the People’s State Bank of American Fork thrived. In the 1960s the name was shortened to Bank of American Fork and proved itself a technological leader when it made a large investment in upgrading to advanced computerized systems. In the ‘80s and ‘90s, Bank of American Fork began to receive national recognition for being safe and strong. It was during this time that the bank began strategic expansion across Utah, finding communities where Bank of American Fork fit and filled needs. Today, we are proud to be a part of 13 communities, and Utah’s community bank leader.

Murray Branch January 15, 2003 The bank’s 10th branch opened in Murray. Management had been debating the idea for several years, and moved on a location once they had employees who knew the area and its residents well. When the bank found the right people, including branch manager Richard Gray, and veteran operations manager Kathie Rockwell, the bank’s new branch opened in leased office space near Fashion Place Mall. At the time, it was the bank’s northern-most branch. During this time of expansion, a cross-functional group of employees created a mission statement for the bank to ensure that new employees and managers would provide the communities they served with the customer service people had grown to love about Bank of American Fork. This summer, the Murray branch moved to a new location on State Street, into a space gutted and remodeled to improve customer service. Have you visited?

Don’t forget to stop by the Murray branch on Fridays this month and grab a cookie!

100 Year On Blog
This blog includes articles, information, tips and advice on all things money by the financial experts at Bank of American Fork. But this blog is not one-sided; we want to hear what you think. Share your ideas, experiences and comments to get the dialogue going.

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