Is 76 too many banks?
I was at a Lacey Chamber of Commerce meeting recently when they introduced a new member – Golf Bank. That’s right – - Golf Bank.
That got me to wondering how many banks we have in Thurston County. I asked a banker friend of mine, “how many banks do we have in Thurston County?” He replied “too many.”
But do we. I wanted to know.
Before I could count the number of banks, I had to determine what constituted a bank. I decided to go to the yellow pages and count the number of banks listed. I decided if they called themselves a bank, then I was going to count them. I also decided to count all credit unions listed in the yellow pages.
There are 28 different banks and credit unions in Thurston County with a total of 76 different branches.
Here’s my list. It’s not exactly alphabetical but it’s close.
Anchor Bank-2, BECU (BECU has several outlets but they aren’t staffed so I only count them as one.), Columbia Bank-2, Heritage Bank-5, Homestreet Bank, Olympia Federal-6, Frontier Bank, South Sound Bank-2, State Farm Bank-3 (never heard of them.), Sterling Savings-3, Thurston First Bank-2, Timberland Bank-5, US Bank-2, Venture Bank-6, Washington Business Bank-2, Washington Federal-2, Wells Fargo, West Coast Bank-5, Tumwater Credit Union, Twin Star Credit Union-6, America’s Credit Union, Evergreen Direct Credit Union (I don’t know what that is.), Harborstone Credit Union-2, Olympia Credit Union-2, Sound Credit Union, OBEE-3, WSECU-7 and the newest Golf Bank.
I have no idea how that stacks up with other parts of the state. But, is it too many banks? You make the decision.
Posted in The Real News