In the Pacific Northwest, Peoples Bank has provided the community with locally grown financial services since 1921. Throughout its history, the bank has remained committed to its mission of providing exceptional service and financial solutions tailored to each person’s unique needs. After all, the focus for Peoples Bank – the people it serves – is right in the name!
“Our goal is to find solutions for our customers. We don’t want to disadvantage them for the bank’s benefit,” reflects Mitch Stewart, Peoples Bank Smokey Point Branch Manager.
Since its founding more than a century ago, Peoples Bank has grown from a single branch to a trusted network of financial institutions. This expansion hasn’t diluted its commitment to local, personalized service.
Stewart, who joined the bank in 2015 and rose from teller to branch manager, discusses the unique approach of Peoples Bank.
“We are driven by the opportunity to watch people achieve their financial goals, whether it’s saving for a home, planning for retirement, or managing everyday expenses.”
In addition to traditional banking services, Peoples Bank offers modern conveniences like online and mobile banking, ensuring that customers have access to their accounts and financial tools anytime, anywhere. The integration of technology has allowed Peoples Bank to enhance its customer service, providing seamless and efficient solutions without losing the personal touch.
Comprehensive financial solutions
Peoples Bank offers a variety of accounts designed to meet the diverse needs of its customers. From interest-bearing savings accounts to certificates of deposit (CDs) and money market accounts, the bank ensures that each customer can find the right financial support tailored to their needs.
For those with a lump sum of money not needed immediately, Stewart recommends a CD: “A CD is a great option if you want to grow your money with a fixed rate over a flexible term. We start at a minimum of $1,000, which allows for a higher return.”
If you’re looking to start saving early, Peoples Bank offers youth savings accounts* with competitive interest rates until the account holder turns 18.
“It’s never too early to start saving,” Stewart notes. “Our youth savings accounts offer our highest interest rate on the first thousand dollars, currently 5.50% Annual Percentage Yield*, to reward kids for developing healthy savings habits.”
Tailored savings strategies
Understanding that different financial goals require different strategies, Peoples Bank provides a variety of savings accounts to suit every need. For instance, a money market account or CD might be the best option if you’re saving for a home.
“A money market account offers liquidity with typically higher interest rates and a minimum balance requirement of $10,000,” explains Stewart.
When it comes to building an emergency fund, liquidity is key. Stewart advises using a money market account: “This allows you to access your funds when needed, rather than having them locked up in a CD.”
“Finding solutions and seeing our customers happy is what motivates us every day,” adds Stewart.
Peoples Bank has recently opened a new location in Smokey Point, expanding its reach and ability to serve the community. Mitch Stewart is leading the new retail team at this branch.
“Mitch is a shining example of outstanding service. He genuinely cares about every customer, and we are thrilled to have him leading our new retail team in Smokey Point,” says Kamyar Monsef, EVP & Chief Retail Banking Officer.
For more information and to open an account visit peoplesbank-wa.com. Make sure to follow them on Facebook and Instagram for any updates!
*The primary account owner must be under the age of 20 years old. Minors under the age of 18 are required to open the account with a parent or guardian as a co-owner. You must deposit $50 to open this account. The Annual Percentage Yield (APY) for balances less than or equal to $1,000 is 5.50%. Balances greater than $1,000 will earn 0.10%. The interest rate and APY are variable and effective as of the publication date. Rates may change after the account is opened. Fees could reduce earnings on the account.
