Word: woschitz
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...Woschitz had dealt with the same bank for years and stuck by it during the turmoil that followed its absorption into a larger institution. But in 1992, his bank was taken over again, this time by National City Corp., based in Cleveland. After that, the dream customer started having bank nightmares...
When he applied for a $150,000 remodeling loan, Woschitz was upset because he was charged higher fees and had to deal with two separate loan officers. Then, to qualify for allowing his patients to pay their bills with credit cards, Woschitz faced a third loan officer, who demanded full documentation of the medical center's finances, even though much of the information was already on file with the bank...
...David Woschitz is the sort of customer banks dream of. He's the top administrator of the Center for Sight, a 10,000-patient ophthalmology group in Anderson, Ind. His business has a perfect record for paying its debts. But until recently, he had trouble getting any respect amid successive waves of bank consolidation...
National City explains that different accounts require different kinds of information; therefore getting a company's financials is only prudent. Nonetheless, a furious Woschitz walked across the street to Anderson Community Bank, where he wouldn't have to keep proving himself to a succession of strangers. Last year the newly chartered small lender gave Woschitz a hassle-free $50,000 loan to add a surgery unit...
Anderson Community Bank is the brainchild of two former officers of Woschitz's original bank--Michael Baker, 37, and Bob Pensec, 55--who knew that their town of 130,000 still wanted low fees and personal service. Despite its bare-bones operation--it started without drive-up tellers or ATMs--Anderson Community Bank attained its five-year goal of $39 million in assets after just 18 months and today holds $67 million. That's chump change to the likes of NationsBank. But Anderson Community's owners are content. And so are customers like Woschitz...
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