May 13, 2016
By Silver Krieger
New York, NY — Radius Bank, based in Boston, has a history of serving unions and is dedicated to meeting the needs of its union clients and improving its offerings. We spoke with Joann Noble, Executive Vice President of Institutional Banking, to learn more about the bank and what it brings to its clients.
Radius Bank’s history begins with union involvement. Says Noble, “It was founded in 1987 by the New England Carpenters' Pension and Annuity Funds. We're headquartered in Boston, Massachusetts, and operated in the New England area from our founding up until 2006, when the Empire State Carpenters' Pension Fund invested in the Bank as an equity partner. That's when we expanded our physical presence into New York and we now work with Union organizations and benefit funds across the Northeast, as well as with commercial, middle market and small businesses, and consumers as our core client groups. We are currently union-owned, but are welcoming some additional owners later in 2016.”
Noble says the bank’s focus “is on profitably growing and continually providing better products and services to our clients across our three main markets. First, with our Union Organizations and Benefit Funds, we're focused on expanding our presence in new markets across the country and also working to provide our current clients with better ways to manage their accounts and provide services to their members. Second, we've expanded our capabilities with businesses, where we just welcomed an experienced sales team that provides SBA financing to small businesses across the country. Third, for consumers, we're focused on delivering an industry- leading digital banking platform that allows them to bank with us from anywhere.”
The bank offers a range of services. “For Union Organizations and Benefit Funds, Radius Bank provides sophisticated, full-service Cash Management, lending and fraud prevention. We have also developed specialty products in partnership with our Union clients including ’stamp’ collection programs, annuity loan processing and online dues payment. Currently we are working with a Union client to automate their dues collection. Our goal at Radius is to deliver outstanding customer service and the right products – all while protecting our clients against fraud and loss. As a client recently said, ‘Our experience with Radius Bank has been nothing short of exceptional. Their account management and customer service is first rate and the money we are saving on bank fees is a real shot in the arm to our budget.’ That's the experience we want for all of our clients!” adds Noble. Also, “For members, we offer a variety of customer financial solutions designed to fit their personal needs.”
Radius Bank’s reach to unions is wide. With offices in Massachusetts, New York, Connecticut and Philadelphia, it serves over 200 unions and benefit funds from small, self-administered funds to some of the largest union organizations.
The Bank’s President & CEO is Michael Butler, who, says Noble, has been leading the Bank since early 2008 and whose vision has “helped turn us into a leader in community banking.” She says that Noble has made sure that the Bank’s commitment to the Union market “has never
wavered” and remain at the heart of the Bank’s strategy and focus.