In early 2004 several local Chico business people recognized the service void that had been created when three local banks were purchased by larger financial institutions, some headquartered out of state. These mergers created an opportunity for a new locally owned and managed, true community bank run by Directors, Shareholders, Officers and Staff that live in the community. As their idea spread, it was met with overwhelming local approval. The Organizing Group grew to 28 local business and professional people, and the new Community Bank began to take form.
Applications were submitted to state and national banking authorities, committees established, consultants hired, business plans finalized and a location identified. By the third quarter of 2005 all three executive officers of the new bank were on board and Board officers elected. Construction of the new building soon began on Cohasset Road in Chico. The applications were approved by the banking regulators in December of 2005 and the initial stock offering opened in January to a tremendous response. In just 13 business days investor dollars poured into the new Bank. The sale was closed with 406 local shareholders and $15.4 million in capital. On April 24, 2006 the Bank opened to its' Founders, Organizers and Directors, and on May 1, 2006 to the general public.
At Golden Valley Bank we pride ourselves on delivering an experience unlike any other. Take our commitment to customers, staff and community - the foundation of true community banking. It's our passion to help businesses grow, help make dreams a reality and better our local economy. We believe this passion for our community starts with our employees. Encouraging our staff to be involved in the organizations and non-profits who strive to make a difference allows them to connect, engage and better understand community needs. The power of community starts at home with our Golden Valley Bank family.
New employees are introduced to this idea by being assigned a paper to research and write their first week. The new employee is to meet with all employees at the bank, ask questions and ultimately write what they think GVB is all about and how each employee serves our customers. The new employee describes our culture and explains our processes gaining insight as to why we do business this way. Below is a paragraph from one of our employees explaining a bit about what she learned during her first week. We think it says a lot!
"If you talk to the employees of GVB, they'll tell you the most important thing is to always give absolutely outstanding customer service and find a way to say YES! GVB makes it a priority to go above and beyond for all their customers and to personalize the banking experience-like it used to be in the good ole days! One of the ways that GVB achieves this is by educating, training and empowering the people who work here. The people are trusted and empowered to make the decisions in order to better serve the customer."
Our mission is to create a truly unique, local banking experience for our customers, employees, community and shareholders.
- We will place power and business knowledge close to the customer by hiring bankers with extensive local experience and ties to the community.
- We will empower and encourage employees to serve customer needs at the first point of contact and train them to build lasting business and personal relationships.
- We will serve our employees by expecting high standards of service and performance in accordance with our business plan.
- We will provide effective training to achieve those standards.
- We will strive to treat all employees fairly and with dignity and will appropriately reward them for high performance results, innovation and dedication to outstanding customer and community service.
- We will be the center of business activity by becoming a community focal point for ideas and strategies benefiting small business and community organizations.
- We will uphold the highest corporate standards and seek to achieve maximum value for our shareholders. Owning shares of Golden Valley Bank is a privilege that comes with the responsibility to play an active role in the success of the Bank by sharing our vision with the community while providing constructive feedback to management when appropriate.
The Golden Valley Bank Standard
Absolutely outstanding customer service, uncompromised in every way
- We will be easily accessible to our customers and build lasting relationships while showing genuine care and concern for others.
- We will do what we say we are going to do and when we say we are going to do it.
- We will seek out ways of going above and beyond in exceeding the expectations of our customers.
- We will always place long term relationships over short term revenue.
Development and retention of knowledgeable, empowered, professional bankers
- Our employees will always be our greatest asset. It is our responsibility to hire and develop knowledgeable, professional bankers who can be empowered to make decisions in the best interests of our customers and the bank.
- Our employees will be treated fairly and with dignity and will reward them for high performance, innovation, creativity, teamwork and dedication to outstanding customer and community service.
Unparalleled community leadership
- We will be a center of business activity by becoming a community focal point for ideas and strategies benefiting small business and community organizations.
- We will encourage and support our employees taking leadership positions in community organizations.
- We will be responsible to our environment and give special consideration to those who share our beliefs
Active and committed local ownership
- Local ownership ensures our commitment to the community, knowledge of the local business issues and environment, and clear recognition of the opportunities that they present.
- Owning our shares is a privilege that comes with the responsibility to play an active role in our success by sharing our vision with the community while providing constructive feedback to management when appropriate.
The highest of corporate standards
- Follow the highest standards of corporate governance and are committed to earn our employees, customers, suppliers and shareholders trust.
- Maintain the confidentiality of our customers.
- Treat all with respect and dignity.