Richard A. Banks has been named assistant vice president at Citizens Bank and branch manager of the bank’s new Stop & Shop in-store branch on Greenwich Avenue in Warwick. His new responsibilities include managing the branch and maintaining high levels of customer service, driving new business and community involvement. Previously, Banks served as branch manager of the Cowesett Stop & Shop branch located on Quaker Lane in Warwick
PBN: What is the difference between operating an in-store branch, as opposed to a traditional branch?
BANKS: At Citizens, we operate our in-store branches as a separate business line. This is the key to our success. Our in-store branches have a separate and dedicated management team and we look for and hire colleagues with retail backgrounds and demonstrated sales skills.
At the average in-store location, we are exposed to 20,000 potential customers in our lobby each week, whereas most people who visit our traditional locations are existing customers. Therefore, we open more checking accounts at in-store branches than traditional locations.
Like our traditional branches, our in-store locations are fundamental to the continued growth of our organization.
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PBN: How does the partnership with Stop & Shop benefit Citizens and its customers?
BANKS: The value of an in-store banking model to customers is convenience. Ranked No. 2 in the nation for in-store banks, Citizens offers customers seven-day banking and extended weekday hours. For Citizens, the in-store banking model not only enables us to deliver on our pledge of convenience, it provides us a platform to grow our business and offer promotional opportunities that provide value to customers.
PBN: What are you looking forward to in your new position?
BANKS: We celebrated the opening of the Citizens Bank Stop & Shop branch, located on Greenwich Avenue in Warwick, with a gift to the House of Hope, … a Warwick nonprofit organization that provides permanent housing for families and individuals. My team and I hope to expand upon this relationship further down the road. I am also looking forward to driving the success of my team and the branch. This new location is an added convenience to the community as we are accessible seven days a week. •
