Bank Branches Inside Retirement Facilities Rise in Popularity

Summary

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For the past 15 years, Sterling Savings has operated an office at the Waterford on South Hill retirement community here, which like the Boise-area center is owned by Beaverton, Ore.-based Touchmark Living Centers Inc. Representatives from both banks say that high-end retirement communities, in particular, are trying to cater to the demands of a growing number of aging baby boomers who expect and are willing to pay for such services. Mary Johnson, director of marketing and sales at Waterford, believes that most full-service retirement communities will try to attract banks in the future, because offering such services gives them another selling point.

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Extract

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Bank Branches Inside Retirement Facilities Rise in Popularity

Bank branches in retirement communities, while not prevalent here yet, are becoming more common nationwide as wealthier seniors seek communities that have such amenities.

One Spokane-based financial institution - Sterling Savings Bank - has operated such a branch for years here, and another, Washington Trust Bank, plans to open on...

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