Richwood News

Richwood Bank Announces Groundbreaking Advances for Central Ohio.

By October 13, 2016No Comments

Richwood Bank announces groundbreaking advances geared to continue their path of incomparable customer experience in central Ohio.

Richwood Bank

Beginning this month the current Delaware location, established in 2010, will undergo a lobby renovation to add Richwood Coffee for the community. Richwood Coffee is a full service coffee shop and lounge for the public offering high-end hot and cold drinks affordably with free Wi-Fi.

Richwood’s unique model offers gift card credits to purchase coffee in exchange for donations to locally selected non-profits. This model, introduced in the Richwood branch location last year has already garnered more than $40,000 in donations for the Union county area schools, hospital, fair grounds and United Way.

“The success of Richwood Coffee has been amazing to watch and we are ecstatic to see how Delaware embraces it,” stated Doug Wilson, branch manager of the Delaware Office. “This model of providing five star coffee while paying it all forward to your community is why our bank will be here for decades to come. We want our lobby to be a place you enjoy visiting between work and home.”

As the hammers swing in Delaware, Richwood Bank is also expanding to Evans Farm, a new housing community project in Lewis Center. As the chosen bank for the funding of this new 1,000 acre housing development, Richwood will also offer a new branch location within the property.

The concept of this new housing project is front porch living at its finest while offering all the amenities a family needs within it. Restaurants, markets, fitness and Richwood Bank will be at the heart of this new community.

“As all-inclusive, turnkey living is the focus of Evans Farm the process to move in should be, too. Richwood Bank has created a new, one step mortgage program for homebuilders and homeowners alike,” Mike Karcher, Chief Lending Officer explains.

“Typical financial institution loan products begin with the lot purchase loan, followed by a construction loan and then finally, rolling it all into a mortgage. Now, Richwood Bank offers this in one easy step. At the time of the lot purchase, Richwood Bank is on site to lock in a very competitive mortgage rate and be with our customers from groundbreaking to ‘move in day’,” Karcher stated.

By creating this one step process, Richwood’s goal is to simplify the customer’s home building finance experience while also making it expedite faster. The pre-approved contractor building the home can benefit from the Richwood team being on-site to quickly inspect levels of construction and clear the next stage with same day funding.

“To stay relevant today we must push past the customary community banking model. We’re keeping the best attributes of friendly, local community dedication while taking banking and the services that encompass it to an entirely new level. The response from our customers reinforces our vision is spot on,” Chad Hoffman, Richwood Bank CEO and President stated.

In less than two years, Richwood Bank has experienced significant growth due largely to their innovative advances in additional offerings that complement financial services such as payroll processing, marketing services and processing for community business.

“It’s not just the transaction any more – anyone can do that. It’s the relationship and support that builds confidence with our customers. We aren’t here to merely deposit or withdraw. We want to be your partner in success. The more your business grows, the more we grow,” Hoffman explained.

This applies to personal banking as well. Richwood Coffee, beta tested last year in the Richwood branch location increased their traffic of all ages, raised large amounts of non-profit donations and became the hub of their downtown area.

The new development in Lewis Center is currently in phase one of lot purchasing while Richwood Coffee Delaware construction begins this month with a grand opening planned this winter holiday season. Delaware non-profit entities for coffee donations are being considered now.

Learn more about Richwood Bank, Richwood Coffee or Evans Farm development today.

Contact: Heather Wirtz, 740-436-0617,