By Jacob Mathias
Paper City Savings, a Wisconsin Rapids-based savings and loan bank, has opened the doors of its newest location in Stevens Point, bringing convenience to new and existing customers.
Paper City Savings opened in 1923 to provide mortgage loans and savings for single-family homes in the South Wood County Area. Since then, they’ve expanded their offerings to include modern personal banking services.
The new location opened on July 15.
Paper City Savings Vice President David Cooper said the bank is the number one home lender in Wood County and they’re trying to expand.
“We’re a community bank,” said Cooper. “We don’t have stockholders so we try to return that to our customers…we want to call every customer that comes in the door by name. We want them to know us.”
The new location hasn’t been very busy yet according to Cooper, but he expects good business as increased communication brings awareness of the new location.
Prior to Paper City, Cooper worked for 10 years at Farmers and Merchants Bank in Rudolph, Wis., where he said many of his customers there and with Paper City come from Portage County.
“Eighty percent of my lending was in Portage County anyway,” said Cooper. “I’m born and raised here in Stevens Point.”
The bank is located in the Windsor Centre on Cty. Rd. HH, in a small but desirable storefront according to Cooper.
“Hopefully we do well enough and bring customers that I’ve had back here,” he said. “Hopefully in three to five years we can build. The bank has certainly invested in this area.”
He said the only downfall to the new location is there is no access to a drive-thru.
Cooper said that Stevens Point is over banked at this time, but future growth could even that out. He also said that Paper City is new to the area only in the fact that they have a storefront but customers have come from the area since its inception.
Paper Savings also has a charitable foundation that sponsors scholarships and non-profit groups but specific plans for the Stevens Point Area haven’t been made yet.
Paper City Saving is open Monday-Friday 8:30 AM- 5:30 PM and Saturday 9:00 AM to 12:00 PM.