Umpqua … The World’s Greatest Bank
“Fall in love at Umpqua Bank … We want our customers to be really really happy” is not the proposition you’d expect from a serious bank, particularly in tough economic times. But this bank is different. There’s more. “Spread some good (the world always needs more)”. And “Reinvest in yourself” as a rework of taking out a loan. People really do love Umpqua Bank. Is there any other bank in the world where you would consider buying a branded t-shirt or baseball cap?
The River Umpqua weaves through the deep forests and rugged canyons of Oregon State. This is the land of lumberjacks, and in 1953 the South Umpqua State Bank was founded to serve the people of Canyonville. In 40 years it grew to a mighty six branches and assets of $150m, until the logging industry fell into decline, and the CEO died.
Ray Davis applied for the job, a former management consultant who believed he could do something special with the bank. He told the board of directors “If you want things to stay the same, I am not your man. If you want wholesale change that will create shareholder value, I might be” …