Pajama Banking

Aug 27, 2014 | Random

On Friday, May 31st, 2013, every employee at every branch (and we’ll even come up with something for our Online Branch!) will come to work in pajamas or similar sleep attire to promote our suite of Online Banking products: Online Banking, Online Bill Pay, eStatements, Mobile Banking, and Mobile Bill Pay for everyone and Cash Management, Positive Pay, and Merchant Deposit for our commercial customers.

I know. I know. You’ve heard this before: Pajama Banking. Like it’s 1998 and Online Banking is all the rage. (Well, for us, it was 2001, but let’s not split hairs!) We get that, but c’mon: you KNOW you want to see David Stone, Kenneth Berry and Doug Stone in sleepwear…right?

For me, 2001 was one of the most important years of my life. It witnessed the birth of my first-born (my daughter Taylor), the beginning of my career at this bank, and the purchase of our home. That summer, I met Katie Redfield, a teenager at the time, who had no interest whatsoever in anything related to technology. Now, she’s my right hand and the driving force behind our Online Branch, including Mobile, Online Banking, Social Media…and a lot more.

As you can see, from my perspective at the very least, 2001 was a seminal year. I’m celebrating 12 years at the bank, just named one of the top 100 Best Places to Work in New Mexico, the 12th birthday of my daughter, and the 12th anniversary of Online Banking. Since June of 2001, it’s grown from a basic product that allowed checking of balances and transferring funds among accounts to a Virtual Bank branch encompassing Cash Management, Mobile Banking and eStatements. And, during that time, we’ve opened two branches in Roswell, one in Hagerman, one in Hobbs, and one in Eunice. This is as good a time as any to wear pajamas to work!

We are also doing this to let everyone know that, beginning June 1, we are going to start charging for paper statements. I don’t like doing this, and I can say, on behalf of the bank, we don’t like doing this. The simple fact is that the cost of doing business in 2013 is much higher than it was in 2001. Postage is up (nearly 26%), paper is up, printing and handling costs are up, labor is up. It simply costs us a lot more to print and mail statements than it did in 2001. To help keep our bank solvent and rock solid, we simply do not feel it is prudent to continue to provide printing and mailing paper statements without charge to most of our customers. Please keep in mind, we are not charging for your statement! If you have and use Online Banking, you can get your statement online and without charge! If you want to print your statement without paying us, you can! You just need access to Online Banking and a printer! For paper statement costs, please see our current Schedule of Fees.

Having said, that, we are and always will be a community bank. We know the needs of our customers! And we do everything we can to help them grow and prosper! Believe me, we don’t like doing this. Any business operation will tell you that it costs so much more to operate a business in 2013 than it did in 2001.

That is an inevitable force in the age in which we live. Remember, you don’t have to pay for paper statements IF you print them yourself using Online Banking and eStatements. Even if you are not computer savvy, chances are you know someone who is and s/he can help you with the process. Even if you don’t know someone who can help, our friendly and talented IT staff is available 7 AM to 7 PM, Monday-Friday to assist you! (Just call us at 575-356-3710 or toll free at 866-771-1170!)

Frankly, this has been a difficult post to write; I don’t like telling people costs are going up any more than you like reading it. Nevertheless, even if you decide that eStatements are not for you, the price for paper statements is not nearly as significant as most of the things you routinely pay for every day…without thinking about it. Costs everywhere are going up, and we’ve pushed this off as long as we felt prudent.

One of David Stone’s favorite quotes is, “If you look hard enough, you can see “bad” in every good thing and “good” in every bad thing.” Forgetting all the ease and flexibility with our powerful suite of Online products: On Friday, May 31st, you can see what your banker sleeps in. There’s a good chance you’ll see me (and many of the other bankers at JPSCB) in lobbies of our branches…in our sleep attire! To quote Maxwell Smart, Secret Agent 86 of Control, “Fortunately, I’ve got the legs for it.”

As for my coworkers, well, you’ll have to be the judge of that.

 


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