Peoples Bank Norwalk CT
Peoples Bank is a Norwalk, CT bank. It has about 5,000 employees and serves twelve states. The bank offers a variety of services including commercial banking, online banking, personal and business loans, mortgages, investment and insurance services, and wealth management. As of September 2010, Peoples had 7.0 billion in assets.
The bank is part of the M&T Bank ownership group, which is located in Buffalo, N.Y. However, Peoples was a separate entity until April 2011, when it merged with the bank’s parent company. While the merger has been praised for its strategic benefits, some customers are not too impressed. For example, Peoples claims to have the largest branch network in Connecticut, but it has fewer than 100 branches in the state. In addition, some of the larger branches have been closed down in recent years, leaving people with a tough time making deposits or securing loans.
The bank also has a few other notable offerings. One of them is Peoples Premium Finance, which is a relatively new product that enables people to apply for loans without a credit check. Several other noteworthy services include the Peoples Insurance Agency, LLC and Vantage Financial, LLC. Another is Peoples’ Mobile Banking application, which is touted as the first of its kind. This app allows users to check their balances, transfer money, pay bills, open an account, view balances, and make transfers between accounts, all from their mobile device.
Peoples also has the distinction of being the largest bank in Connecticut. It is estimated that its total assets stood at over $7 billion as of September 30, 2022. As of that date, it has 113 full-service bank branches in Ohio and 130 locations in Kentucky. Of course, no such list would be complete without a mention of the bank’s hometown, Marietta, Ohio. To wit, Peoples has had headquarters in Marietta since 1902.
Other interesting aspects of Peoples are its retail banking and wealth management capabilities. In fact, it boasts the distinction of being one of the few banks in Connecticut to offer a full range of financial products and services, from personal and business loans to wealth management. Furthermore, the bank offers seven-day banking at 140 Stop & Shop stores in the state, making it a convenient option for consumers. Also, the bank has a subsidiary that is the largest provider of insurance in the state, which has its own impressive-looking website.
However, the biggest draw for the Peoples Bank is its customer service. A lot of complaints have been filed against the bank, including long wait times for teller transactions, confusion about debit card information, and even a lack of customer service representatives. Nevertheless, some of these issues have been addressed. At the same time, others have been ignored. Among these are accounts involving payroll and general funding for regional district schools.
Despite these, it seems that the Peoples Bank’s move into the M&T Bank world has been met with mixed reactions from customers. The bank’s customer service representatives have been somewhat evasive about their latest changes.