Great Nation’s Bank is not your stereotypical bank. You can’t make deposits, you can’t get cash, but you can get a loan.
Pat Williams, who is the bank’s president and chief executive officer, said the Norman-based bank is expected to open its Yukon location during the week of July 10. It is what they call a loan production office.
Williams said the bank was chartered in 2009 and has about 350 shareholders, most of whom live in the area.
“There is no majority shareholder. No one has more than 10 percent of the stock,” said Williams.
The new branch will be at 2121 S. Yukon Parkway, Suite 205.
Williams said unlike traditional banks, the location will only have a handful of employees and will not have cash on hands, nor will it have tellers.
Williams said the bank will have a depository, but all transactions will be handled through the main bank in Norman.
She said it is hoped that eventually, the bank’s charter will include that option, but for now the facility will be a loan-origination bank focused on consumer and commercial loans.
Great Nations will offer everything that traditional banks offer as far as online banking.
Williams said in most cases, traditional customers don’t really need to go to the bank. They can make deposits electronically, transfer funds electronically and get cash from an ATM.
“We started with $17 million in loans and now we are a $55 million bank,” she said of the Norman location.
The bank is starting from the ground floor in Yukon, although Williams said there are several loan customers from Canadian County.
“We are a small community bank,” she said. “We already have a lot of Canadian County customers.”
The bank only has 10 employees spread through its two branches. The Yukon office will start with two full-time employees and a part-time loan officer.
“Here, you won’t be just a number. We want to be a true community bank that knows you,” she said. “We don’t really want to be a $200 million bank.”
However, they hope to be as competitive as the large banks.
The bank will be open Monday through Friday from 9 a.m. to 4 p.m.