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A History You Can Bank On

Home to the flagship of the nation’s largest privately held bank holding company, First National Bank, and three Fortune 1000 financial services companies; Berkshire Hathaway, Mutual of Omaha and TD AMERITRADE, Greater Omaha’s financial services cluster is impressive. No matter when they were founded, banking and financial institutions find Greater Omaha a prime place to grow their businesses because of the excellent climate for financial services companies.

First National Bank was founded in 1857–three years after the city was incorporated. The major focus for First National Bank today is the revitalization of the customer experience in its bank branches with “destination banking.” This has included the construction of five new branches in the metro area.

“By re-emphasizing our historical commitment to the customer via our ‘destination banking’ approach, First National Bank has demonstrated its stability and dedication to the needs of its customers and the community,” said bank president Daniel K. O’Neill.

In the Old Market location, half of the building is a Scooter’s Coffeehouse and the other half is a bank branch featuring innovative, interactive kiosks and free access to Wi-Fi.

“First National Bank’s history has been defined by an emphasis on innovation,” said O’Neill. “Even though the ‘destination banking’ concept highlights the latest in leading-edge branch technology, it retains our focus on providing superior customer service.”

Greater Omaha is known for the strong work ethic and creativity that spawned businesses including online stock brokerage TD AMERITRADE, and PayPal, which conducts online financial transactions from two buildings in Sarpy County. The list of successes now includes Mutual of Omaha Bank, which operates more than 40 locations in Nebraska, Colorado, Arizona, Nevada, California, Texas, Iowa, Kansas and Florida.

Mutual of Omaha Bank in 2009 will open a new location in Sarpy County, occupying the entire first floor of a three-story office building in the Southport West development. President and COO Mike Homa said, “This Sarpy County high-traffic site perfectly compliments our other Omaha banks.”

“Unlike financial institutions around the country that are experiencing instability, Mutual of Omaha Bank is well capitalized and financially strong,” said Jeff Schmid, chairman of Mutual’s banking division.

“We remain committed to pursuing a community banking strategy built on strength, service and conservative lending practices,” said Schmid. “With more than $4 billion in assets, Mutual of Omaha Bank is a strong, stable bank with a long-term perspective. We have never pursued the subprime loan market, and we don’t intend to.”

Community Reinvestment Act:

A Positive Impact in OmahaThe Community Reinvestment Act (CRA) is at work in Omaha, changing the landscape and improving the quality of life. Passed by Congress in 1977, the Act encourages financial institutions to meet the needs of borrowers in all segments of their communities, including low- and moderate- income neighborhoods, while following safe and sound lending practices. Two of Omaha’s largest banks remain firmly committed to the program.

“First National Bank of Omaha (FNBO) has always been a strong supporter of community reinvestment through corporate contributions, loans and the Community Development Corporation. That support is in keeping with the corporate culture of the bank and our strong and long-term commitment in the city,” said Deborah Keating, vice president and executive director of First National’s Community Development Corporation.

During the past five years, FNBO has provided community development loans, CRA-related contributions and grants and traditional investments such as bonds and securities totaling more than $260 million in northeast and southeast Omaha and downtown.

FNBO partnered with several banks and the Greater Omaha Chamber to create, with grant dollars, the North Omaha Business Park. Within that park, FNBO initially financed two businesses with construction and permanent financing.

“The bank has served as one of the leading investors in the North Omaha Development Project, and we have also provided a substantial number of volunteer support hours to this project through the sub-committees, fund raising and project implementation,” said Keating. “We have also partnered with Omaha Economic Development Corporation on the Long School Marketplace retail project in North Omaha.”

As a founding partner in Omaha 100, FNBO, with partner banks, has invested funds in a “lending pool,” which has made it possible for low- to moderate-income families to purchase homes.

“Our participation has made it possible for the housing agencies to build new homes or restore older homes and multi-family residences. There has been a strong commitment to improving neighborhoods through the rebuilding of areas in the community and the bank’s funds assist each organization in the fulfillment of their missions.”

Wells Fargo Bank, N.A. is rated “Outstanding,” the highest possible rating for its performance under the Community Reinvestment Act (Sept. 30, 2004). “We focus on the needs of the communities we serve and the people who live in those communities,” said Richard Schenck, Wells Fargo’s local community development manager.

From October 2004 through September 2008, Wells Fargo originated $70.3 million in community development loans and an additional $35.4 million in community development investments throughout Nebraska.

“In 2007, Wells Fargo was the largest mortgage originator in Nebraska and the leading lender in CRA categories of loaning to low- to moderate-income borrowers and loaning in low- and moderate-income census tracts,” said Schenck.

In Nebraska, Wells Fargo is deeply involved in many initiatives focused on helping the community, including Habitat for Humanity, Seven Days of Service (the Wells Fargo version of “Extreme Makeover“), financial literacy efforts and Midwest Housing Equity Group, which raises equity capital to invest into affordable rental housing throughout Nebraska, especially in rural and inner-city markets.

“If our efforts are on target, we are helping build better neighborhoods, communities and cities,” said Schenck.

The Community Reinvestment Act (CRA) is at work in Omaha, changing the landscape and improving the quality of life. Passed by Congress in 1977, the Act encourages financial institutions to meet the needs of borrowers in all segments of their communities, including low- and moderate- income neighborhoods, while following safe and sound lending practices. Two of Omaha’s largest banks remain firmly committed to the program.

As a founding partner in Omaha 100, FNBO, with partner banks, has invested funds in a “lending pool,” which has made it possible for low- to moderate-income families to purchase homes.

From October 2004 through September 2008, Wells Fargo originated $70.3 million in community development loans and an additional $35.4 million in community development investments throughout Nebraska.

“If our efforts are on target, we are helping build better neighborhoods, communities and cities,” said Schenck.

Products and Services

With a Brand to MatchThe billboard sign is cheeky. On a black background with white letters is a two-line message: This credit union doesn’t boast a corporate jet, but if they did, each of their 54,000 members would be able to fly on it.

Clearly, this isn’t the same stalwart credit union that started more than 50 years ago serving only civilian employees of the Strategic Air Command and their families.

Thanks to a comprehensive re-branding effort from the inside out, SAC Federal Credit Union is taking a cutting-edge, 21st century approach to serve the needs of current members while attracting a new, younger membership base with a simple slogan with a call to action: “You should join!”

With 15 branches and $355 million in assets, the credit union is financially sound and has a solid presence in the four-county community they serve. But there was one significant problem. “We were a secret in Omaha,” said Gail DeBoer, president and CEO, SAC Federal Credit Union. “What we learned was that more than 50 percent of nonmembers thought you needed to be in the military to be a member.”

OBI Creative’s exclusive O’Brien Voice of the Customer™ and Brand Landscape Review approach led to a comprehensive marketing plan, propelling a complete re-branding of SAC Federal Credit Union.

The progressive message expressed through the brand vision, said OBI Creative’s president and CEO, Mary Ann O’Brien-Elkjer, “offered an inclusive message: Membership is open and anyone in the community can join.”