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Thursday, February 12, 2004

Mason S&L 95 and thriving


The secret to longevity: customer service

By Erica Solvig
The Cincinnati Enquirer

MASON - Through all the growth this Warren County city has seen over the years, one of its oldest businesses has succeeded by trying to stay the same.

The People's Building Loan and Savings Co. has focused on controlling its growth since it began as a one-day-a-week business in 1909. The customer base is still concentrated in Warren County and much of its product line has remained unchanged.

The $34 million-asset thrift will celebrate 95 years of service Friday. Longtime residents and a representative from the Mason-Landen-Kings Chamber of Commerce say they know of no Mason business that's older.

"What keeps us different from everyone else is that personal touch," executive vice president Ralph Schmidt said. "When you walk through the door, we pretty much know who you are and what you're needing.

"You're not a number here, you're a person."

The company started in the back room of a downtown store, survived the Great Depression and eventually become a full-time business.

In 1957, it moved to its current location on Reading Road. A black-and-white photograph of the ground breaking still hangs in the lobby.

It has since opened a branch in Morrow, where two of the company's eight employees work.

All the while, Schmidt says, the company has focused on conservative investments and home loans, though recently People's did add checking accounts and began selling Freddie Mac loans as a way to attract customers for the future.

"In this business, you really have to look down the road," Schmidt said. "Turning 95 is great, but 100 is that psychological milestone everyone is waiting for. And we plan to still be here to celebrate it."

E-mail esolvig@enquirer.com




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