Ashtyn Asay, Daily Herald
Key Bank will open a new branch in American Fork on Monday, making this the company’s first new branch since 2019 and its first new branch in the western U.S. in the last decade. While Key Bank has existed for nearly 200 years, the American Fork branch will operate under a new philosophy.
Employees will place a special emphasis not just on customer satisfaction, but overall financial wellbeing as a part of Key Bank’s new Wellness Center Model. One of the more noticeable changes will be in customer conversations — there is no traditional teller line. Customers will make all transactions at the desks of financial wellness consultants.
“One of the advantages that gives us, and our clients have asked for this, is a streamlined service that no matter what they need it’s one person that will help them,” said Jason Scorup, the location’s branch manager. “So that if you have any questions you’re not calling a 1-800 number and getting caught in a maze.”
The hope is that visitors will work with one specific financial wellness consultant during their time with Key Bank. Customers will have someone who knows their history and can help with their specific financial needs.
“One of the things that we’ve found that the clients love is not being handed off, nobody likes being handed off,” said Ryan Martin, regional retail leader for Key Bank. “It’s nice to have an expert that doesn’t hand you off. They bring a team of experts in to meet with you, and it’s not handing you off to anyone else.”
Ashtyn Asay, Daily Herald
Financial wellness consultants also conduct financial wellness reviews with their clients in order to discuss their financial status and assess where they are in proximity to their goals.
According to Scorup, a large part of helping clients stay financially sound is education. That’s why the branch plans to offer individual, business and workplace educational seminars for customers.
“Most people growing up, they don’t get the training, whether it’s how to manage a checkbook… or how to improve their credit score, how to even open and manage a checking account,” he said. “The biggest way we can impact the community is to teach people about finances … sometimes you need training for regular health … you go to a doctor if you have issues. We’re that same resource financially.”
Scorup said that the American Fork Key Bank branch wants to support the community, not just be a part of it.
“I tell people all the time we don’t want to just be the bank on the corner, we want to impact the community,” he said.
Courtesy Key Bank
According to figures provided by Key Bank, the company has invested $689 million in community developments including affordable housing in Utah, $155 million in mortgages in low-to-moderate communities, $219 million in small business loans to businesses in low-to-moderate communities and $1.2 million in transformational philanthropic investments in Utah neighborhoods in the past five years.
The Key Bank American Fork branch is located at 717 W Main Street and will open on Monday. A ribbon-cutting ceremony will take place on June 17 at 11:30 a.m. with a grand opening celebration the following day from 10 a.m. to noon.