Do-it-yourself workshops, a testament to American spunk and ingenuity, have helped millions build decks, retile bathrooms, and write screenplays.
Of course there is a limit to what people are encouraged to do on their own, but now a San Luis Obispo, Calif., consulting firm is testing that limit by offering seminars on opening a community bank. Over the past year NuBank Group has held more than two dozen events and drawn several hundred attendees.
In addition to "How to Start a Community Bank: A Workshop" it offers two seminars for those with a specific market in mind: "How to Start a Native American Bank" and "How to Start a Hispanic/Latino Bank."
Dan Hudson, NuBank's president and chief executive, said the presentations are for people with little or no banking background. Anyone with $100 and an interest can attend.
"There's no fancy presentation," Mr. Hudson said. "I just give them a workbook and an agenda and take them right through the process and try to create a dialogue."
Mr. Hudson said the most commonly asked questions are what kind of charter was appropriate, how much capital is needed, and how long it usually takes.
After attending one of NuBank's seminars in Houston in October 2003, Bruce Reichstein began organizing a bank in his hometown of Katy, Tex.
Mr. Reichstein, who works in the mortgage industry, said he became interested after referring dozens of his clients to existing banks. He surfed the Internet for information and came across NuBank's site, www.startabank.com.
"The meetings provided a wealth of information," he said. "You walk out of there thinking you really can do this. If you've got the drive and desire to open a bank, you really can get it done."
With the help of the seminar and follow-up consultations with Mr. Hudson, Mr. Reichstein appears to be on his way. He had his first meeting with a group of potential investors in January and hopes to have his bank up and running in the next 12 to 18 months.
Most of the 50 clients NuBank is working with attended one of the presentations. Some attendees decided to proceed without hiring NuBank, Mr. Hudson said, and some just fell away. That weeding out was exactly why he began holding the seminars in 2001, he said.
NuBank was generating more leads than it could handle through its two Web sites. The workshops looked like a good way to consolidate its orientation process and determine which prospects were genuine.
"People go through the workshop to find out if they are ready to start a bank," said Mr. Hudson, whose background is marketing. "It helps them to clarify time lines and validate their idea and move forward."
He created "How to Start a Hispanic/Latino Bank" in December 2003 after more workshop participants expressed interest in Hispanic-specific banks. Mr. Hudson said he recently introduced "How to Start a Native American Bank" after learning that several tribes were considering starting one but needed help.
NuBank has held 26 seminars since the beginning of 2004, including six Hispanic and three Native American bank workshops.
