From low to high – one customer’s story

Key takeaways:

• A great relationship with your banker can help you work through challenges and achieve your financial goals.
• When you trust your banker, it’s easier to seek advice and take steps to accomplish your needs.
• There are a variety of approaches you can use to meet your financial goals.

A place to call home – that is what Florida resident Daniel Costoulas envisioned for himself and his family. Yet, even despite a good income, he couldn’t buy a home due to a challenging credit score. The score was affecting Costoulas’ life as a father, husband, and business owner. He couldn’t purchase the large items he needed or wanted.

Low credit scores affect many people. In fact, FICO reports that nearly 30 percent of U.S. consumers have what is considered to be a fair score or lower.

The bank Costoulas was previously with was doing little to help him turn things around, so he searched for a new bank. That is when he turned to Retail Manager, Second Vice President Joanne Show at the MidWestOne in Fort Myers.

Show, who has been with MidWestOne for 13 years, visited Costoulas at his office, so he didn’t have to miss additional work. Show helped Costoulas develop and implement a plan to improve his credit score. and one year later, she helped him purchase his first home.

“I can’t even begin to describe where I was seven years ago as a business owner and personally compared to where I am today,” Costoulas said. “That can be largely attributed to my relationship with MidWestOne. I said that I would never say that I love my bank, but I do. I love my bank. If I need something, I can go and get it. If I want something, I get honest feedback from my bank whether or not that is really something I want as opposed to need.”

Though Costoulas benefits from the tools MidWestOne offers on both his personal and business accounts, they are just a part of why he banks there. He mostly appreciates the trust and personal relationships the bank has offered him. Instead of saying “no,” to the goals he has in-mind, Show will often tell him “not yet” and provide strategies for reaching that goal.

 “There should be another word for the customer service on both ends Costoulas said. “I get customer service when I go to the grocery store to buy groceries. The MidWestOne branch I go to is like family. You wind up talking about how your kids are doing and other things because your banking needs are always taken care of.”

Last year, Costoulas again turned to Show when he wanted to build a vacation home in Madisonville, Tennessee. Due to new regulations about home loans having to originate from a bank in that same state, MidWestOne could not extend a loan, but that didn’t stop Show from going above and beyond to help Costoulas. Show researched banks in the area of their new home, established a connection and transferred documents over, so the process was smooth for Costoulas.

Costoulas was astounded by the lengths Show went to help him. He closed on the vacation home in November.

“I will never leave my bank,” Costoulas said. “I will never go anywhere else to do any sort of business without checking with MidWestOne first. Joanne is absolutely amazing. I can’t say enough about her.”

If you have questions about your finances, the MidWestOne team can help. Stop in to see us at any of our locations.

MidWestOne Bank does not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.

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