Giveaways and gimmicks

With over a dozen banks to choose from in Cape Girardeau, some with statewide branches and beyond, bank officials say it's a competitive market.

To gain customers, certain financial institutions offer incentives and others use customer service or up-to-date technology as an edge.

"Sometimes I even scratch my head and wonder where we all get our clients," said Julie Duenne, manager of Capaha Bank on William Street.

Over the years Duenne said she has seen banks give away introductory gifts like piggy banks, drink holders, china, tool sets and even hitch pins. Recently she has heard of banks offering iPods to catch people's attention. They've come a long way from using the small appliance as their gimmick, she said.

When a Capaha branch opened in Jackson about five years ago, toasters with mailers shaped as toast were given out as an old joke, Duenne said, but it didn't catch much attention.

"For us basically it's what you see is what you get. All you have to do is open an account," she said. "We have the best employees in town. Those folks are very respected in our community."

Capaha has three locations in Southern Illinois and, according to Duenne, it's helped the bank expand its clientele in the region.

The Bank of America capitalized on that concept, having over 16,000 ATMs across the United States.

"We have customers that are traveling through from all over and recognize us as being their bank," said Vickie House, manager of Bank of America on William Street. "That's what sets us apart."

Other Bank of America enticements are the loose change program where debit transactions are rounded to the next dollar and then the change is transferred into the customer's savings account after the bank matches the amount to a certain extent. There's also the referral program which pays out when customers get others to join.

House said an online banking option is important to customers today and the Bank of America always tries to improve the system with features like automatic bill paying and additional security.

"Even smaller community banks have to keep up with technology," said Retta Penrod, manager of First State Community Bank on William Street. First State Community has 23 locations in Southeast Missouri.

While larger financial institutions have strict policies for dealing with customers, Penrod said her employees go out of their way to provide friendly service, even calling their customers to help when problems arise. She said her clients get to talk with real people at the bank.

Penrod attributes the bank's success to her employees treating each client as an individual. The customers don't have to fit into a box, she said. "We don't have any gimmicks."

The Bank of Missouri has three locations in Cape Girardeau making it convenient for people living in different parts of the city, according to manager of the William Street location, Pat Kaempfer

Kaempfer said the Bank of Missouri's philosophy is to exceed the expectations of customers, which includes addressing them by name. She added that some clients only come to do business and don't care to get personal.

"People don't always give you that opportunity to get to know them. Giveaways sometimes get them over."