U.S. Bank opened a branch this week at Starbucks headquarters in Seattle, using a retail strategy many of the coffee chain's employees may recognize.
The bank's new location has a modern décor and a convenient, food-court location designed to appeal to the sensibilities of busy, career-oriented professionals.
"We typically design the corporate branches to be very similar to in-store banking in grocery stores," says Dan Hoke, head of U.S. Bank's on-site banking division.
The 600-square-foot branch offers all of the services of a full-service location, with the exception of safe deposit boxes. Employees are also cross-trained in providing banking and teller services, with a focus of signing up customers for mobile banking.
The corporate location is part of an ongoing strategy by the U.S. Bancorp (USB) unit to be "nimble and progressive" in reaching its customers, he says particularly those, for example, who have the extra cash to spend on a venti non-fat caramel macchiato.
"High-density campuses are something we've been working on for the past eight to 10 years," he says.
The Minneapolis bank operates branches in several business headquarters in the Twin Cities, including those of 3M and Best Buy. It also has more than 50 similar outlets in corporate campuses, hospitals and airports across the country.
With its new office in the Starbucks Center a renovated, turn-of-the-century warehouse, located just south of Pike Place Market the bank will make a play for the city's creative class. The building houses 4,300 Starbucks employees, corporate offices of OfficeMax and Sears as well as 40 startups.
Hoke declined to comment on whether the branch will offer special deals for Starbucks employees, except to say that offerings will be "designed to meet the unique needs" of those who work in the building.
The new branch will not, however, serve free coffee.