Ribbon-cutting ceremony in front of new Northwest Bank on 2006 N. High St. Credit: Grace Puhalj | Lantern Reporter.
Northwest Bank opened its second Columbus branch Wednesday near Ohio State’s campus, featuring a student-focused design with coffee, study spaces and financial education resources.
The new branch, located at 2006 N. High St., is part of the bank’s broader expansion across the Columbus market. Designed with input from students across multiple Ohio universities, the space includes products and features tailored to their needs, Lizzie Siegel, executive director of customer experience, design and innovation for Northwest, said.
That feedback helped Northwest rethink what a bank branch could look like for a college audience, Siegel said.
“Although we assume that this is such a digital-heavy audience, they really want personalized, authentic experiences,” Siegel said.
For many students, that personal connection can also mean having guidance as they begin making financial decisions on their own. Siegel said developing products specifically for students was a major takeaway from the research.?
“Financial education is top of mind,” Siegel said. “Learning how to save, learning how to build credit is top of mind. It’s really important that we build products from checking products, credit products, whatever products we want to offer in the market that actually match what students want.”
The bank’s research also influenced the atmosphere of the new branch, which Urich Bowers, chief consumer banking and strategy officer, said was designed to make students feel comfortable spending time there.
“I think there’s an element of hospitality here,” Bowers said. “We [had] a panel of students and talked to them about things that would make them feel comfortable in here.?
The branch features coffee and refreshments, along with space where students can study, charge their phones or laptops and hang out between classes, unlike traditional bank branches, Bowers said.
“There’s no drive-through here. There’s no teller line,” Bowers said. “It is very different in the choreography of how people will enter this space and talk with bankers.”
The location also positions Northwest to reach students early in their financial lives, Ian Bailey, head of communications for Northwest, said.
“It’s a great location right next to Ohio State, so it gives us an opportunity to form relationships with students who are earlier in their financial journey and the idea is you build those personal relationships for the long term,” Bailey said.
That focus on building relationships and creating welcoming spaces extends to Northwest’s partnership with Roosevelt Coffee Roasters, Bailey said.
“We’re working with Roosevelt Coffee Roasters as part of the hospitality approach,” Bailey said. “We have a coffee station which will be stocked with coffee from Roosevelt Coffee.
Roosevelt Coffee Roasters and Roosevelt Coffeehouse are owned by the Roosevelt Foundation, a public charity, according to Kenny Sipes, founder of the Roosevelt Coffeehouse. Both businesses are centered around the foundation’s social-impact mission.
“All of what we do, the roaster, the coffeehouses, the foundation, is to fight the injustices of hunger, unclean water and human trafficking,” Sipes said. “That is the mission and that’s the social impact we’re trying to have and communicate.”
Sipes said the partnership with Northwest gives the Roosevelt Foundation another opportunity to bring that mission into a new space and connect with people on Ohio State’s campus.
“I was intrigued by the fact that the bank system or the bank company itself was interested in focusing on social impact in some way to have not only a local roaster inside the bank but to have the ability for us to display our mission,” Sipes said. “I think there’s a real capacity for it to kind of be a space of community if people discover it.”
As Northwest continues building its presence near Ohio State, Bowers said understanding the financial realities students face has been an important part of shaping the bank’s approach. He said many students rely on a combination of savings, family support and part-time jobs.
“We know that students don’t have necessarily a steady source of income,” Bowers said. “Cash flow is pretty important to them. Low fees are also important. They don’t want a lot of their money taken away in fees that some of the banks start and also just understand how to budget.”
Siegel said Northwest hopes the branch can give students the resources and support to feel more confident as they navigate financial decisions.
“Hopefully we can help them feel confident, supported, cared for and they feel like they have the education and tools they need to make the choices with their finances that meet their goals,” Siegel said.
