Federation Bank prides itself on service to customers, community

Service is part of the foundation of Federation Bank — service to their customers, service to the community and even service to the bank’s employees.

Federation Bank President and CEO Jamie Collier takes pride that the bank has won numerous awards for its customer service.

“Something we take pride in here is the way we take care of our customers,” Collier said. “Everyone tries to differentiate themselves a little bit. Customer service — you’ll hear that from a lot of community banks.

“We’re proud to be a community bank, and we go out of our way to treat our customers the way we would want to be treated. Our slogan is ‘We treat our customers like family, and Federation Bank is your family bank.’ We try to live that.”

He said that, in today’s face paced environment in the banking world, it’s common for people to just become numbers and relationships become transactional.

“When you’re wanting to transact business or when you’re buying a home, a lot of people still want that human interaction,” he said. “Human interaction and talking them through and giving them advice is very important, even in this day and age.

“Purchasing a home is probably the biggest investment most people will make in their lives. It helps to sit down and have somebody that they trust and can look them in the eye and help them with that decision.”

Collier said it’s not just about getting the lowest interest rate, although Federation Bank stays competitive with them.

“When you’re making a transaction with a farming operation or a business operation, having someone that you trust and knows what they’re doing matters,” he said. “It’s important to have somebody that you trust that gives you good advice to help you be profitable in your business.”

Collier said he is confident that Federation Bank has those kind of people and that he’s very proud of the staff.

He noted that there is very low turnover among staff.

Collier has been with Federation Bank for 27 years. There are several employees who have been there for 15 years or more, and even one who has been with Federation Bank for 30 years.

“The culture of the bank is that we treat our customers the way we would want to be treated ourselves,” he said. “Because of that culture, I believe we treat our employees well; I believe our board of directors treat our employees well; and for the most part, I believe our employees are really happy to work here. Because of that culture, we have longevity among our employees.”

Serving the community is another hallmark of Federation Bank’s culture.

The bank, headquartered in Washington, has branches in Brighton, Wellman and Richland.

“Our bank is not the largest bank in town by any means,” Collier said. “We’re considered one of the smaller banks in town.

“But as far as helping in the community, I think we punch above our weight in comparison to other banks in town. We go above and beyond.”

Federation Bank regularly supports a number of community causes.

Each year, they provide 4-H’ers with T-shirts for the Washington County Fair. They have given out numerous scholarships to area high school students. They’ve contributed financially to several different community projects and organizations.

“We’re always trying to contribute to our community,” Collier said. “We spend a lot of our income on community support.”

The bank can trace its roots in the community back more than 100 years.

In July 1906, Rubio Savings bank was incorporated with a capital stock of $10,000 in the railroad town of Rubio.

In 1931, the bank expanded and moved their main office to Brighton.

The integrity of the bank is best illustrated by its uninterrupted service to customers through the Great Depression.

In 1941, the bank’s charter was moved to Brighton and changed its name to the Rubio Savings Bank of Brighton.

The Rubio office closed on Dec. 31, 1987.

Washington Federal Savings and Loan Association was chartered in 1934 as a federal savings and loan at the height of the Great Depression.

Fifty local residents provided its optimistic foundation with their pledges of $100 each to furnish a source for financing homeownership.

Washington Federal continued to grow and add more services over the years, and in 1994, converted to a federal savings bank. The name was changed to Washington Federal Savings Bank.

In 1995, Washington Bancorp was formed as a unitary thrift holding company.

In 1996, Washington Bancorp initially offered shares to the public and simultaneously became the holding company for Washington Federal Savings Bank.

In 1998, Washington Bancorp converted to a bank holding company and completed the acquisition of Rubio Savings Bank of Brighton. From 1998 until 2003 the two banks continued to operate under the separate charters.

In 1998, Washington Bancorp identified two small communities near Washington, where there was an opportunity to improve upon the financial services being provided.

In response, Washington Federal Savings Bank opened full-service branches in Wellman in 1998 and in Richland in 2000.

In 2003, Washington Federal Savings Bank filed an application to merge with the Rubio Savings Bank of Brighton. Upon completion of the merger, all four banks became known as Federation Bank.

Looking to the future, Federation Bank is planning to move its headquarters from its current building at 110 N. Iowa Ave. in Washington to the former U.S. Bank building at 300 S. Iowa Ave. in Washington.

Collier said that details of the move are still in the works and that it will take at least a year to renovate their new home before the move can be made.