I came across this story in the Washington Post, and it made me chuckle. Excerpts:
Not only is this amusing (and, honestly, can't you think of at least a few people off the top of your head who should do business with Tightwad Bank?), but it's a great example of the entrepreneurial spirit that makes this country work. These guys saw an opportunity, and are using innovative marketing to build a business. I think their merchandising line, in particular, offers real promise!
I wish them all the best...!
There's my two cents.
When Ellen T. Lindsey picks up the telephone in this flyspeck town, the first question, more often than not, is "Are you a real bank?"
Lindsey, the new manager, assures the callers that the institution is, indeed, real.
Tightwad Bank may be quirky and unproven, but it is a genuine bank with a real charter and a real vault and a pair of real bankers in charge. For good measure, the business cards say: "Tightwad Bank. Member FDIC."
"We're seeking the customers with a sense of humor," said Donald S. Higdon, 54, who opened Tightwad with his business partner in May after they grew bored with running a sober-sided bank in neighboring Kansas. "We thought the downside was limited, the possibilities were reasonable and the amount of fun was limitless."
If the concept does not work out -- this is the second attempt at making a bank called Tightwad profitable -- Higdon jokes that he can turn the place into a drive-through liquor store.
As Higdon was telling his story, he spotted a man and a woman climbing off their motorcycles to pose by the Tightwad sign. They turned out to be Lyndon and Debra Abell, D.C. residents touring the back roads.
"The Tightwad store was okay," Lyndon Abell said, explaining the photograph, "but the Tightwad Bank was too good to pass up."
That is what some of Lindsey's callers say, too. Like their predecessors during the bank's previous incarnation, they want to know how to open an account and draw checks on Tightwad Bank.
Higdon's challenge is to convert curiosity into cash.
To supplement the take from deposits, which have grown from zero to about $1 million, the bank sells Tightwad gear -- $14 hats, a $9 mug, a $30 polo shirt.
The next product will be a Tightwad Bank gift card, designed for "your favorite uncle, also known as Cheapskate Charlie."
Lindsey, the new manager, assures the callers that the institution is, indeed, real.
Tightwad Bank may be quirky and unproven, but it is a genuine bank with a real charter and a real vault and a pair of real bankers in charge. For good measure, the business cards say: "Tightwad Bank. Member FDIC."
"We're seeking the customers with a sense of humor," said Donald S. Higdon, 54, who opened Tightwad with his business partner in May after they grew bored with running a sober-sided bank in neighboring Kansas. "We thought the downside was limited, the possibilities were reasonable and the amount of fun was limitless."
If the concept does not work out -- this is the second attempt at making a bank called Tightwad profitable -- Higdon jokes that he can turn the place into a drive-through liquor store.
As Higdon was telling his story, he spotted a man and a woman climbing off their motorcycles to pose by the Tightwad sign. They turned out to be Lyndon and Debra Abell, D.C. residents touring the back roads.
"The Tightwad store was okay," Lyndon Abell said, explaining the photograph, "but the Tightwad Bank was too good to pass up."
That is what some of Lindsey's callers say, too. Like their predecessors during the bank's previous incarnation, they want to know how to open an account and draw checks on Tightwad Bank.
Higdon's challenge is to convert curiosity into cash.
To supplement the take from deposits, which have grown from zero to about $1 million, the bank sells Tightwad gear -- $14 hats, a $9 mug, a $30 polo shirt.
The next product will be a Tightwad Bank gift card, designed for "your favorite uncle, also known as Cheapskate Charlie."
Not only is this amusing (and, honestly, can't you think of at least a few people off the top of your head who should do business with Tightwad Bank?), but it's a great example of the entrepreneurial spirit that makes this country work. These guys saw an opportunity, and are using innovative marketing to build a business. I think their merchandising line, in particular, offers real promise!
I wish them all the best...!
There's my two cents.
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