Richwood Bank Cultivates Community with Each Cup

Since 2014, one community bank is addressing falling branch traffic in an innovative way: It has opened its own chain of coffee shops. 

In 2014, $1.1 billion-asset Richwood Bank in Richwood, Ohio, spent months thinking about ways to get customers in the door. The goal was to approach this strategy thoughtfully and genuinely. That’s how leadership landed on the idea of integrating the community bank’s own Richwood brand coffee shops into branches.

Bringing this idea to fruition was no easy feat, however. Federal Reserve rules presented a number of obstacles, primarily that banks are not allowed to have commerce of any kind in their lobbies. 

“[The Fed’s] option was [that we] could have a coffee company come in and lease it back to them and let them independently run it in [our] lobby,” says Heather Wirtz, chief experience officer at Richwood Bank. “We thought, ‘That’s not what we want. We want community; we want impact.’” 

Not wanting to take the easy way out, Richwood Bank leadership worked with the Federal Reserve and found a way to make it work. It wanted to avoid the commerce designation while also holding true to Richwood’s community-centered philosophy. Instead of paying with cash or card, patrons of the shop give donations in return for coffee. So, not only did introducing this coffee shop increase foot traffic; it also made customers feel comfortable in the lobby and encouraged the community to give back, just as Richwood does. 

The coffee shops have created a unique, compounding cycle of community engagement and growth. Donations elevate the community, and more people hear about Richwood Coffee through word of mouth. 

“You’re not just spending seven bucks on coffee; you’re actually contributing to the community that you live and work in,” says Krista Salyer, customer experience manager at Richwood Bank.

Sip and support

Here’s how it all comes together. The coffee shops don’t accept cash or credit, but if an individual already banks with Richwood, they can do a simple transfer with a teller in exchange for a beverage. 

If they don’t bank with Richwood, they can decide who they feel compelled to donate to among the nonprofit beneficiaries that partner with Richwood—since each beneficiary has its own individual account that can take checks or cash. The drink credits, or “thank you cups,” are then loaded onto a reloadable coffee card, and the customer uses it to order their drink of choice. 

The initiative has been incredibly successful. “It’s a ripple effect of the genuine authenticity of being a community bank that wants to give back, because the people keep coming,” says Wirtz. “We’ll see people that come into the shop, and they’re finally like, ‘I don’t know why I don’t bank here—I should!’ and then they open their accounts. We say it’s like a win-win.”

Creating connections with every pour

The coffee draws people in and builds community, of course, but the donations create deeper connections than just simple transactions. Richwood Coffee has supported many fundraising efforts, from helping a local school’s team travel to a national robotics competition to an organization that supports those with developmental disabilities through equine therapy. 

“We try to connect [donations] to [the community’s] impact,” says Wirtz. “It helps us keep our ear on the ground as far as what a community needs. Where are they seeing disparities and gaps? We have those kinds of conversations, and then we try to help figure out where we can insert coffee to help with that need.” 

Richwood Bank is now hoping to make the process of getting coffee even easier for customers. “We are hoping to make it even simpler than going to the front line to make the donation and then the coffee line to get the drink,” notes Wirtz.