Creative banking: an oxymoron? A staid, plain bank image is not a prerequisite for financial success. On the contrary, even a small display of marketing splash, spunk or inventiveness goes a long way toward differentiating your institution from the competition.

• Author: Letourneau, Tom
• Position: Innovative Strategies

The conventional wisdom is that the average banker is about as creative as a bowl of soggy oatmeal. Wrong! There are a lot of creative bankers out there--leaders who have demonstrated that it is possible both to color outside the lines and still run a successful institution that makes lots of money!

If you want a creative bank, the key requirement is a president who is open to new ideas. By sheer force of personality, the president focuses energy and encourages original thought, especially from those responsible for business development and marketing. Dave Tull, president of Crestmark Bank (assets: $84 million) in Troy, Mich., says, "I try to create an environment to succeed and get out of their way. We don't shoot somebody who makes a mistake."

The second requirement is the liberal use of focus groups, quality circles and semiformal breakfasts and lunches to draw out ideas from the team.

The third essential is that the marketing department be used as the "hot house" for growing these creative ideas. What separates a creative bank from the "also rans" is the freedom the marketing department has to try--and sometimes to fail.

Below are some samples of innovative programs and approaches introduced by creatively minded banks from around the country.

Adopting a Retail Philosophy

Umpqua Bank (assets: $3.9 billion), Roseburg, Ore., is the poster child of creative banking. Lani Hayward, director of marketing says, "We try to offer our guests a total sensory experience when they come into one of our stores (branches). We want to create a fun, comfortable atmosphere and offer our customers a positive banking encounter." The bank runs slide shows behind the teller line using customer quotes and "feel-good photos." The institution was among the first to establish a cybercafe and to sell its own brand of coffee and T-shirts. Talk about merchandising!

If this talk about creative banking has you in a tizzy, relax. If you and every member of your staff are creatively challenged to the point of absolute boredom, be assured you can buy the needed creativity from your local consultant or advertising agency. Well, that's not altogether true either. Most consultants who are advising bankers today have been trained by the bankers to offer middle-of-the-road counsel so they will be paid and invited back. If your agency comes up with a wild scheme that brings your bank too far out of its comfort zone, the agency knows it will be labeled as weird and never...