Local Bank Keeps History of Helping Neighbors Reach Savings Goals

When it comes to savings or teaching kids how to save, sometimes the less you think about it the better.

Programs like Auto Transfer at People’s Bank of Edmond, for instance, automatically takes a set amount of money from a checking account or paycheck to put into a savings account. Not having to remember to set aside cash each time means boosting a savings account with little to no pain.

“Auto transfer is a great idea to help kick-start a savings account,” says Ben Branson, president and CEO of People’s Bank of Edmond. “This way the money is automatically taken out of your checking account or paycheck. This helps most people because it makes you do the transfer before you forget or change your mind.”

A little bit goes a long way. If a person gets paid twice a month and saves $25 each paycheck,  that’s $600 a year.

“If you were able to save $100 per paycheck, that’s $2400 a year,” Ben says.

People’s Bank has a long history of helping clients with finances. M.H. Barrett Sr. opened Peoples Bank & Trust Co. opened in 1906 in Ryan, Oklahoma. Now, more than 100 years later, the bank is still owned and operated by the Barrett family. The bank is owned by Kay Barrett Branson and her son, Ben Branson, who also serves as the president, CEO and chairman of the board.

M.H. Barrett founded the town of Ryan and believed in people and in their honesty. He began loaning money to people in 1883 from the drug store that he owned and operated and made loans to help farmers, ranchers and business owners. In addition, he made nearly 50 loans to young people to help them get college educations, and in that time, only one failed to repay the loan.

That spirit of trust continues in 2018.

“Most of our customers have the chief of operations or chief of lending cell phone numbers because we want to be available all the time to try to fix our customers’ problems or at least be available to answer questions,” Ben says.

“Before there was FDIC, that insured people’s money, people banked where they trusted their bankers. That’s still the same way we try to do business today. We want to build trusting relationships with our customers where they know how important they are to us.”

In addition to auto transfer, People’s Bank also offers Elite Savings, which has one of the highest rates for a savings account in the metro at .50 percent compared to some as low as .03 percent.

“We also have text alerts and mobile app to let you know what you have 24/7. Plus our online banking has budget tools to help reach your financial goals,” Ben says.

“Our online banking is very unique compared to other banks. We have lots of tools to help you keep track of your spending, budgeting and goals.”

For more information, visit PeoplesBankUSA.com.