*Note: The following answers are summarized from an interview with Pete Yang from Alpine Bank
Could you start by telling us about Alpine Bank, and why your customers love banking with you?
Alpine Bank has nearly 40 locations in Colorado and $6.4 billion in assets. We were founded on the Western Slope, in Carbondale in 1973, so we’ll be celebrating our 50th anniversary next year. We support our local communities through volunteerism and contributions to nonprofits, and that resonates with our customers. We’ve contributed over $15 million to local nonprofits through Alpine Bank’s Loyalty Debit program since the late ‘90s. Additionally, one of our Loyalty Debit Cards benefits environmental causes, and we’ve donated about $2.7 million to community environmental nonprofits in Colorado since that card was established. Our customers value our commitment to our local communities, as well as our commitment to the environment. Ultimately, that’s where we all live, work, and play, so it’s all-important for our livelihood.
It seems that Alpine Bank is committed to both community involvement and green initiatives. How does public EV charging at your banks play a role in this?
Something unique that we offer is our EV charging stations at some of our bank branches. Our first ones were installed in Mesa County, at the Alpine Bank tower in Grand Junction. We also have EV charging at our Clifton, Steamboat, and Boulder locations. Last year we installed a charging station at our main Glenwood Springs branch on Grand Avenue, creating a total of five charging stations at our various bank locations. It’s one way our bank locations are engaging with, and supporting, our communities in moving toward green initiatives and sustainable efforts, and integrating those efforts into our everyday lives.
How is Alpine Bank making an EV more affordable?
Alpine Bank has a green lending program that includes financing for electric vehicles, hybrids, and plug-in hybrid electric vehicles. For customers who apply for a vehicle loan with us, we’ll do our typical underwriting, but if the vehicle happens to be an electric vehicle, hybrid, or plug-in hybrid electric vehicle, then it would qualify for a half-percent rate discount from what the prevailing rate is. Giving a rate reduction to our customers who are deciding to buy an EV and offering that financial incentive is how we’re making EVs more affordable. This is also the case within the used EV market. We’re starting to see some used Teslas, for example, being sold, so that’s something that we could look into financing if there isn’t dealer financing available.
What are you most looking forward to as far as your involvement with Drive Electric Colorado?
We are looking forward to connecting with Drive Electric Colorado’s audience and playing a role in educating consumers on EVs. Specifically, for us, that looks like sharing our green loan information and hopefully assisting those who are interested in making the process of EV adoption even faster. With the financial incentives that we have for purchasing an EV, there are good options for making them more affordable, and we want people to know about that. Working with Drive Electric Colorado in getting more EVs on the road is an exciting goal. Having EV charging stations at several of our bank locations throughout the state is an example of how we want to help the public move toward that goal as well. We expect to see more bank locations sign up to have a charging station at their branch in the coming months and years.
Are there any updates you would like to share with your current or potential customers?
In summary, Alpine Bank is a financial institution that truly cares about our community and the environment. That’s evidenced by our green vehicle lending program and some of the EV charging stations that we’ve installed at our bank locations. Hopefully, we’ll continue to do more in supporting our valued customers. We’re passionate and charged to improve our organization’s environmental practices and continue to support our communities.
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