‘We Exist to Help Our Clients Fulfill Their Visions and Their Dreams’

Have you ever stopped to consider everything a local bank does for its community?

All the businesses it helps grow and thrive. All the jobs it helps create, both directly and indirectly, the charitable causes it supports.

Many people don’t give these things a second thought, but Joseph W. Major thinks about them every day.

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“The biggest thing a bank like ours does is to gather deposits from our local market and funnel that money back into our market,” says Major, Chairman and Bank Leader of The Victory Bank, in Limerick, Pennsylvania. The Victory Bank, which was founded in 2008, caters primarily to small and medium-sized businesses and professional practices.

“Since we started this bank, we’ve made three quarters of a billion dollars of loans into our market,” Major says. “That helps our clients grow. They hire people, they pay taxes, they support our schools, they support community events, their local houses of worship, and so on. The positive economic impact we have on our entire community cannot be overstated.”

Values-Based

From the start, Major says, The Victory Bank has been committed to delivering a client experience unmatched in the banking industry. “That is our core mission. We exist to optimize the financial lives of our clients, to help them fulfill their visions and their dreams.”

A “values-managed” organization, The Victory Bank has a written values statement and is driven by a clearly defined statement of purpose. “We are committed to living our values as best we can, each and every day,” Major says.

The Victory Bank takes pride in finding creative solutions to clients’ complex financial challenges. One example among many: “We had a family-owned manufacturing business that had been in business for 60 years. They were struggling back in ’08 and ’09 because the economy was in the doldrums, and local banks were scaling way back. We were able to structure a loan that saved the business and kept a bunch of local people employed.”

Major credits much of The Victory Bank’s success to its people, from entry-level employees to experienced, knowledgeable senior managers. The organization grew by 12 percent last year alone, to almost $300 million in assets. It was named the Best Bank of Montco (Montgomery County) in 2017, 2018, and 2019 and has been recognized as a Chamber Champion by the TriCounty Chamber of Commerce.

“Our team members are people of integrity and talent, people who are passionate about creating an extraordinary experience for each client,” he says. The bank not only hires people for whom its core values resonate, Major also teaches these values in classes to employees.

He says the bank makes every effort to retain excellent employees with top-notch compensation and benefits packages.

Beyond its walls, community service is a cornerstone of The Victory Bank’s mission. Last year alone, the bank and its people donated tens of thousands of dollars and over two thousand volunteer hours to a variety of local causes, with an emphasis on helping the neediest with housing, food, health care and other essentials.

What does the future hold for The Victory Bank? According to Major, its goal is to grow to $500 million or more in assets over the next few years, while staying focused on its current market niche. “You can become more efficient by being a little bigger, by spreading your expenses over a larger base. At the same time, we have no intention of trying to be all things to all people.”

Custom Solutions for Every Client

In Major’s experience, an important benefit of choosing a small bank like The Victory Bank is “having a banker who actually knows you. We go out to your business. We meet you and your spouse, and your children who work in the business. We study your financials and then carefully custom underwrite your loan. We try to sit in our clients’ shoes and custom design products and services – loans, deposits and other commercial banking products – that are best for them. And we do this for every single customer. Our value proposition is about doing something that’s inherently fair and good for the client at all times.”

“We have been with the bank since the beginning and could not be happier with the service, the people and the community feel. I highly recommend that any business should investigate this bank. You will be pleased.”

– Terese Brittingham, Keller Williams Realty, Limerick, Pennsylvania

This content was provided by Financial Service Directory. Kiplinger is not affiliated with and does not endorse the company or products mentioned above.