Commerce Bank = Morris Day

Choosing a bank can be a long and arduous process. One can weigh the strengths and weaknesses of a particular bank, whether that is locations, solubility, profitability, expansion plans, services offered, friendliness of tellers, on-line capabilities, and FDIC accreditation.

Or you can choose the one with the pretty sign.

For those light bankers who do not have thousands and thousands of dollars to utilize a firm’s financial portfolio management team, the simpler the reason for choosing a bank, probably the better. Back in ’98, I opened a small checking account in Williamsburg with a bank called Crestar. Why? Because they had a branch a three minute walk from my dorm. And if I recall, they had a surplus of red lollipops at the counter. Their pens were firmly chained to the transaction desk – that told me that they cared for all their assets, including my 500 bucks. What else could you possibly need in a bank?

Like Monstro to Pinocchio, Crestar was swallowed by SunTrust Banks in 1999.

Ok, so now I’m a SunTrust man. Their existence was fine to me for the remainder of college. Their ATMs were easily accessible, their debit card was aesthetically pleasing, and they had a good name. If you can’t trust the sun to rise each day, well then, who can you trust?But while their name was a strong one, it wasn’t particularly fun to say. This brings us to my present bank of choice.

Wachovia. Wacccchoooooveeeeyahhhhhhh

My reasons for selecting them were far more substantial, you see. Since they had previously gulped up First Union, they had a presence in the Mid-Atlantic states. Therefore, I would never be without cash back in NJ. Also, they hold the naming rights to the Flyers’ stadium. Somehow this means something to me. Throw in free checking and a promise to employ one of my college roommates – Wachovia, you can have my business anytime.

But what about Commerce?

Commerce Bank would be the definition of my hometown bank. Founded in Marlton and headquartered in Cherry Hill, NJ. And hell, they even had a Mr. C before our own Mr. C became Mr. C. A fair part of our readership either works for, has family who works for, has friends who work for Commerce. With their free coin counting and their 7 days a week banking, how can you say no to the home team?

With Commerce looking to expand into the DC Metro area, they are looking to employ the same promotional methodologies that have worked so successfully in the Delaware Valley and elsewhere. Most notably is the TV and radio station breaks, when a short ad for Commerce comes on. Now this ad does nothing to mention their extended hour convenience, nor will they highlight their professional investor relations or their artistic backwall murals in your local branch. No, Commerce would just like to remind you of their existence by allowing their logo to appear while they provide you with non-banking information.

“Local time and temperature, brought to you by Commerce Bank.”

I had no idea you could sponsor time.

Think about this. Commerce is spending ad dollars to sponsor the time. The time that you get for free on your wall clock, DVD player, wrist watch, and cell phone. If they didn’t let me know of what time it was, I would have many other avenues to ascertain how close I am to the hour. We’re talking an intangible commodity here.

In other news, Wachovia has moved to sponsor air.