Friday, July 13, 2007

1984: first bank branch in a supermarket

There was a time when when banks were open just five days a week, and closed promptly at 3PM.

In January of 1984, J. Alton Wingate, founder of Financial Supermarkets, Inc., opened a Community Bank & Trust branch in an Ingles Supermarket in Cornelia, Georgia.

The concept spread quickly, and has been vary popular with store owners, shoppers, and bankers. An in-store bank can be opened for 1/5 the cost of a traditional brick & mortar branch, and its "lobby" can hold thousands of potential customers.

So, now you can deposit a paycheck or apply for a mortgage when you buy your broccoli.

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