Northwest Savings Bank

It is rare to find a bank today that would really look after the welfare of their small local customers. That is why community development banks are a relief for small and medium-scale would-be depositors and borrowers. A community development bank is designed to address the banking service needs of residents of small and moderate-income geographical areas. Although to gain profits is one of its objectives, the primary goal of a community development bank is to see to it that the people of the area they are located will be equipped with the necessary investment money that would eventually help the local economy to progress. And Northwest Savings Bank is one of these banks that strive to meet this noble goal.

Northwest Savings Bank is the community banking division of Northwest Bancorp, Inc., which posted $6.5 billion in total assets in December 2006. The bank is based in Warren, Pennsylvania but also operates in other economically vital locations in the United States particularly in western New York, northeastern Ohio, northern Maryland, and southern Florida. About 160 retail-banking locations and 263 Automated Teller Machines (ATMs) operate in those locations. The main business line of the bank involves funds gathering from deposits and borrowings of their clients and channeling the money for loans and investment securities.

Northwest Savings Bank revenue has remained stable for over 110 years already and the bank continues to rake respect and recognition for quality service in the community banking industry. Operating full-service local banks, Northwest Savings Bank takes pride on putting local bankers, who are tasked to serve their clients and authorized to make decisions in accordance with the need of the local community. The bank believes that local bankers are more equipped to give solutions to their local clientele since they know the community well that would also foster better customer relationship and satisfaction. In this way, the bank claims to mark a difference in the banking industry in terms of rendering services that is based on community needs.

In the Northwest Savings Bank official website, the bank highlights its respect for the privacy of its customers in terms of keeping confidential information while rendering the best possible service to their client. Thus, if a client wished to avail the Northwest Savings Bank home loan, the most affordable paying scheme at reasonably low interest rate will be offered and process the loan fast at the same time. The financial information of the borrower would also be kept in best confidentiality. Even on its Internet banking system service, industry-approved technologies are being implemented to confidential data of their clients.

Aside from Northwest Savings Bank home loan, the bank also offers a wide range of consumer loans and retail deposit products. Commercial loans, business banking products, trust, as well as services in investment management and brokerage are also being marketed by the bank as exciting product lines, which the bank also vowed to improve and further develop to capture a larger chunk of the market.

The bank reveals that their success is founded on strong credit culture, which adheres to strict lending discipline. The discipline includes ensuring credibility of loan customers, vigilance in collections and delinquency record, and diversification in loan portfolio, among others. In fact, low loan delinquency rate has been achieved by the bank of the past years.

Since the bank has two conflicting goals of earning profits to sustain the healthy existence of the bank and at the same time help the people living in their community achieve financial growth, Northwest Savings Bank just looks outside their window to know how to balance everything and achieve full economic development of their community.