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Creating Community Spaces: Financial Centers Become Local Hubs

By Jared Monce, AIA

November 6, 2024
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Financial institutions have always been rooted in the community — supporting individual’s personal goals, business endeavors, and local programs. Naturally, financial branches and operations centers have opened their doors to community gathering.

While these spaces have traditionally been equipped with teller lines and private office space to facilitate transactions, more financial institutions are looking to reinvent and build spaces that are open for community involvement. Spaces where they can provide resources, networking opportunities, and support for local development. Let’s explore how financial centers can successfully create and sustain community-oriented spaces.
Bippus State Bank - Community Hub Rendering
Bippus State Bank - Community Hub Rendering

The Evolution Beyond Financial Services

Traditional banking spaces are inherently formal and transactional. You may think of a secure teller line, large steel vault doors, and maybe even hints of the neo-classical style. The design aesthetic greets customers or members with a stately institutional feel and instills a sense of money security. While this style made sense for several reasons, the quick evolution of technology in the banking industry has rendered a number of these traditional appearances and functions obsolete.

Online banking has shifted customer behavior to complete transactions from their phone, reducing the need for branches to strictly serve transactional processes. Advanced technology, such as cash recyclers inside the branch and interactive teller machines outside the branch, has enabled financial centers to shift from transactional spaces to advisory spaces. Architecturally, this change in banking has opened opportunities to utilize the branch in new ways.

Why Community Spaces Matter

When you think of community spaces, libraries, parks, and schools might come to mind — inviting and free spaces for people from all walks of life to gather and share culture and ideas. Coupled with strong programming, community spaces enable residents to make connections and feel a sense of belonging. Many financial institutions are already seen as part of the community’s identity and key to its economic growth. Utilizing the branch for community space enables them to support residents, create partnerships with local businesses, and keep money circulating within the community.
First Merchants Bank training room
First Merchants Bank training room

Examples of Community-Centric Bank Initiatives

Expanding the role of the branch to encompass community-type spaces has gained national traction through large organizations like Capital One and Chase and consistently shows promising results through small community banks and credit unions. The Capital One Café, as seen on national TV commercials, offers an inviting space for anyone and everyone to enjoy free Wi-Fi, food and beverages. The café offers an alternative reason to visit the bank, and ambassadors are ready to discuss an individual’s financial needs as needed. Similarly, Chase began opening Community Center branches in 2019 to provide critical financial support to underserved communities in need. These branches are built with additional space to host free events and workshops tailored to local community needs. While the large institutions gain national attention, in many ways numerous community banks and credit unions are leading the charge with open rooms for free community engagement.

Designing Spaces for Community Engagement

As financial institutions move away from a transactional role and transition into an advisory role built on strong relationships, branch spaces are naturally becoming more open and inviting. Branch layouts incorporate open lobbies with various types of spaces and seating options to encourage conversation to take place. Key to the success of community engagement is a space that is inviting to everyone and offers a space for different activities. Casual seating encourages one-on-one conversation; small private flex offices offer a family the chance to meet with a financial counselor, while a larger communal space can be developed into a networking venue. Spatial options within the branch can help the organization meet the community’s needs.
ORNL Federal Credit Union branch lobby
ORNL Federal Credit Union branch lobby

Building Strong Community Programs

These spaces are often open and free to the community for their own programming needs. However, financial centers are also realizing the success of building their own strong programs, such as financial literacy events, entrepreneurship workshops, and other educational seminars. Community spaces are also great to offer services tailored to small business owners, such as networking events, pop-up shops, or space for business showcases. Additionally, this space can be a multifunctional resource for partnerships with schools, nonprofits, and other local groups to build their own success. Whatever the event may be, targeting local needs with specific programming will give people a reason to visit.

Benefits to the Financial Institution

Making the effort to engage the community at the branch can increase customer loyalty, as community members view the financial institution as a supportive, valuable presence. Community involvement also strengthens the bank or credit union’s reputation as a socially responsible institution and can attract new, local customers.

Lastly, community-centered branches often motivate employees who appreciate working in environments that focus on positive community impact.
ORNL North Branch self help desk
ORNL North Branch self help desk

Think creatively about your physical spaces as essential, value-adding parts of the community. The benefits of these community hubs extend beyond financial gains, offering lasting social impact and reinforce your organization’s role as a committed community partner.

Want to learn more about financial design? Read our market insights to learn how branch design is evolving to meet consumer behavior.

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