One bank thrives in bad economy

Updated: Wednesday, 18 Mar 2009, 11:37 PM EDT
Published : Wednesday, 18 Mar 2009, 11:37 PM EDT

Story by: Bob Wilson

Hamden (WTNH) - At least one bank in Connecticut is not being hit by the economic crisis.

John Cunneen makes a deposit at the Quinnipiac Bank; they are small with two teller windows in an office building. It's exactly what he is looking for.

"We are big believers in doing business with people you know," said Cunneen. "It's never let us down; the bank has never let us down."

With many large banks needing bailouts and in trouble, people are looking to go back to the small community bank. And that's what the founders are banking on.

"Customers want to come back to the community bank," said Vice President Dick Barredo, of the Quinnipiac Bank. "They want to meet with the decision makers and know their money is safe."

So far, the economic bad news has only been good news for the Quinnipiac bank. You can walk in and meet the president and they will come to your small business to talk to you about a loan; the way business was done years ago.

"We can't keep up with the phone calls, we are committed to the community," said President Mark Candido. "Our lending base is strong and I am proud to say thanks to a lot of hard working people; we do not have one delinquent loan on the books."

Just because they are a small bank, doesn't mean they don't offer the services the big banks do.

"Whether it's remote capture, banking online or the same thing the big banks were offering, they were offering," said Cunneen. "So, for us the only difference is real people answer the phone; at a big bank you talk to a voice mail system."