Commerce Bank, according to Money Magazine is the “Best Bank in Missouri”: a statement pertaining to the services Commerce provides for banking consumers. This article aims to describe the history of the Commerce Bank and offer a brief outline of the banking services it offers.
The History of Commerce Bank
The Commerce Bank was originally the Kansas City Savings Association when it was first started in 1865. The founder, Frances Reid Long came to Kansas City with the dream of starting a bank and $10,000 with which to do so.
1890 saw the newly named National Bank of Commerce as the largest bank in the area, which took in the locales west of Chicago. In 1928 Commerce Bank introduced a new innovative way of banking: the first 24 hour transit, which sped up the delivery of checks from one bank to another. Commerce Bank has pioneerd several other innovative services, of which the introduction of a combination ATM card and credit card, Special Connections, was one of the first of its kind in 1984.
Another milestone in the history of the Commerce Bank was made in 1989 when they received the Presidential “E Star” award. This award is the highest award in the nation honoring exporters in America: Commerce was the only bank in Missouri to receive this award for their part in promoting export activity.
The Commerce Bank Today
As the years progressed Frances Reid Long’s dream of the bank he started with $10,000 has come full circle. Today the bank has headquarters in St. Louis as well as Kansas City and has a banking presence in five states: Colorado, Illinois, Oklahoma, Kansas, and of course, Missouri are home to Commerce Bank. With a clientele of individuals as well as many businesses Commerce’s assets total over 16.8 billion.
The management of the Commerce Bank is into its fifth generation of management by family.
Commerce Bank Services
Commerce Bank provides more than a checking account to its customers. The main services provided by Commerce include savings accounts and CDs, investment savings and mortgage loans to purchase a new home. Other loans include Commerce Bank personal loans, auto loans and home equity loans.
In addition, Commerce Bank offers credit cards, checking cards and you may also use all Commerce Banking services online. Commerce online banking and bill pay are benefits provided to customers to make things simpler.
Commerce Bank customers may also take advantage of mobile banking and if you are currently studying, Commerce offers student loans to help further your education.
Commerce Bank has many varied financial services for business banking as well as personal, investments, estate planning and wealth management. These services are also available through their many affiliated companies as well as subsidiaries. With about 350 locations in the states mentioned above the interests of Commerce Bank also include credit-related insurance, real estate activities, leasing and venture capital.
Commerce Bank also offers International services. Commerce’s banking professional staff has extensive knowledge of international finance and can provide the services needed by you or your company globally. These services include foreign exchange, wire transfers and export financing as well as collections. The Commerce Bank has contacts in over 130 countries to provide their customers with services for all their foreign banking needs.