Glenn Strauss on Success in Commercial Lending (sponsored)
When Glenn Strauss took over the helm of commercial lending at Salem Co-operative Bank almost two years ago, he was drawn to the position because he loved helping small and mid-sized businesses develop. “It’s always fun to watch a business reach its goal, and being just a little part of that is rewarding,” he notes.
Strauss, Senior Vice President of Commercial Lending, studied finance at Bentley University in Waltham. He has worked in banking since graduating in 1988. His professional banking career began in the auto industry as a credit analyst with a regional bank. Now, nearly 30 years later, he reflects that his early experiences taught him two valuable lessons — how to analyze complex financial statements and how to work with different personalities. As his division has grown, those lessons have borne fruit as he has helped local businesses specializing in manufacturing, the service industry, real estate and more find success.
“Commercial lending has been a part of the bank for the past nine years. While it’s a relatively young commercial lending group, the growth has been significant,” Strauss explains. When he started, the loan department had a solid base of customers. But to grow that base, Strauss couldn’t do it alone. 2016 has been an excellent year for the division, thanks to the work of lenders Bonnie Breen and Rob Armano, along with the administrative staff, Terry Muir and Becky Belanger. “Without them,” he notes, “we wouldn’t be realizing the success we have been experiencing.”
“One of the attributes of managing a lending team is having a good feel for the strength of each team member’s character.” These qualities include trust, honesty and the ability to multitask. He finds these qualities exemplified in the bank’s lending team.
How does a local businesses owner know if he or she is right for a commercial loan? “A discussion will always take you a long way,” Strauss notes. “The place to start is a face-to-face meeting with one of our lending team professionals. A conversation can make what seems like a daunting process more manageable.”
Strauss joined the bank for a number of reasons. One was its notable history, stretching back to 1922, of serving the needs of individuals and now businesses throughout the Southern New Hampshire and Merrimack Valley regions. It was the first bank ever headquartered in Salem, New Hampshire. Now approaching a century of having served the region, the bank maintains a philosophy that accords with Strauss’s own. He believes in their commitment to the traditional values of integrity, hard work, and dedication to community. Salem Co-operative Bank prides itself on combining new technology with old-fashioned personal service. And it places a strong value on knowledgeable and highly-trained staff. This tradition was important to Strauss and this characteristic helped him to realize that a future with Salem Co-operative Bank would be a good fit.
For Strauss, these values aren’t just empty words. They can be seen in the banks strong commitment to customer relationships. Salem Co-operative Bank’s lending team takes the time to really get to know their customers. They then look to develop customized banking solutions that will help their customers grow their businesses and achieve their goals. Joe Endyke, president of NSA Inc. of Lawrence states it well: “It is different working with Glenn because we never saw anybody from the big bank we used when we first started our business. From the beginning, Glenn took ownership of our account and helped guide us through the banking process as it pertained to using a line of credit. As our business has evolved, it has become clear that we need Glenn’s experience, personal touch and direction. He is an integral part of our business. Salem Co-operative Bank is a true partner to us and Glenn represents that relationship perfectly. “
One of the great things he came to learn about working for Salem Co-operative Bank, he notes, is that the company encourages its employees to seek volunteer opportunities in the community. To that end, bank employees have volunteered over 2,200 hours in the last year alone to various nonprofit organizations. Strauss serves on the Board of Directors of the Boys & Girls Club of Greater Salem, where he helped to start a Money Matters program, teaching young people how to budget, save and prepare for and invest in a college education and throughout their working lives. Strauss also volunteers for the Economic Development Committee of the Greater Salem Chamber of Commerce. He is a prior President of the Exchange Club of Haverhill and was on the Board of Directors of the Andover/North Andover YMCA and Team Coordinating Agency in Haverhill.
His final thoughts? “If you’re a business owner and are looking for a strong relationship with a bank committed to the community, we would enjoy the opportunity to meet and have a conversation to discuss your business needs and develop customized banking solutions.”
Salem Co-operative Bank offers a full array of consumer, mortgage and business products and services. It is located at 3 South Broadway, Salem, N.H. and 284 Merrimack Street, Methuen, Mass. For additional information about the bank and its services, stop by a branch office or visit www.salemcoop.com.
Salem Co-operative Bank is an Equal Housing Lender (NMLSR ID# 543601) and a Member of the FDIC.
Salem, N.H. | (603) 893-3333
Methuen, Mass. | (978) 682-1010