The payoff of strong relationships.

With an intimate understanding of Heritage Bank’s business, Propel helps deliver huge savings.

Heritage Bank, a fixture in the South Puget Sound region since 1927, has been aggressively transforming their business since the mid 1990’s from traditional savings and loans offerings to a full range of products and services for both personal and business banking. Throughout this period, Heritage Bank has been challenged to continually manage their emerging risks while transitioning into new services, geographic markets and changing industry conditions.

As a partner of Heritage Bank since 1995, Propel has developed an intimate understanding not only of their business situation, but also of their risk tolerances and ‘hot buttons’. Or as Brian Vance, CEO of Heritage Bank puts it, “Our business with Propel is not based on transactions. It is based on a constant relationship.” This insight into their client’s business enables Propel to make just-the-right calls, like the one that got Heritage to lock in their rates for a 3-year period as opposed to the traditional one year renewal.

By keeping a pulse on both the industry trends and Heritage Bank’s business, Propel was able to time the market and secure very favorable insurance rates. “What I’ve appreciated about Propel is they understand the risk and insurance business and they’ve been able to translate that into how we can structure our insurance needs on a proactive basis to get the best coverage for the best price,” said Mr. Vance. “It was a great decision that saved us a lot of money.”