Alliance Bank

As Cape Girardeau's only community-owned, locally headquartered financial institution, Alliance Bank puts a priority on being more responsive to customer preferences than larger banks.

In 2010, Alliance made the bold move of retooling all deposit accounts and also made enhancements to electronic banking products and services. These steps were taken only after thorough industry research and surveys of their customers.

"We reviewed similar products and services offered by other financial institutions and surveyed our customers to find out what they really wanted," said Cord Polen, president and CEO of the institution. Polen said that one of the things Alliance learned from customers is that access to the newest banking technologies, such as online banking, is important to them. "More of our customers, both consumer and commercial, are becoming comfortable with technology and the innovations taking place in the financial services industry," Polen said. "They are finding because of technology they are able to more efficiently handle their banking needs and do so at their own convenience."

Polen pointed out all customer service functions for Alliance Bank customers are handled at one of their local branches rather than being outsourced to a call center.

One of the areas Alliance customers benefit from local service is mortgage servicing. Whereas most homeowners have to mail their payments to an out-of-town servicing company, Alliance's customers can make their mortgage payments at any of the bank's three Southeast Missouri locations -- 217 N. Kingshighway in Cape Girardeau, 1100 State Highway W in Oran and 820 N. Main St. in Sikeston. The Sikeston and Cape Girardeau branches have ATMs on site.

Cord Polen, president and CEO

Polen said competitive interest rates and Alliance's local service resulted in 2010 being a big year for mortgages.

"We have a highly experienced and dedicated staff, along with some of the most competitive mortgage rates in the area," Polen said. "Our staff works to make sure we can give our customers the best deal available with the least amount of underwriting hassles."

Because mortgage interest rates are still low, Alliance Bank encourages every homeowner that hasn't refinanced their mortgage to call their local Alliance branch to see if refinancing might be a good deal for them.

As a locally owned bank, Alliance takes its responsibility to be involved in the community seriously. "As a community bank, we believe in living, buying and supporting 'local,'" said Alliance Human Resources Director, Cathi Schlosser. "It is our privilege to give back in any way we can -- from monetary donations to contributing our time and talents. We are committed to building up our communities and the people who live here."

Local charitable organizations supported by Alliance Bank include the Salvation Army, Habitat for Humanity, Safe Harbor Animal Sanctuary, the Kenny Rogers Children's Center and Arts Cape. The bank and its employees are also strongly involved with the United Way of Southeast Missouri. National charities receiving Alliance support include the American Red Cross, American Diabetes Association, American Cancer Society and American Heart Association.