Pub. 4 2016 Issue 1

8 The Community Banker www.mibonline.org FREEDOM BANK Featured Member Bank D on Bennett has been a banker in Columbia Falls for over 27 years. He has always been focused on economic development and working to improve on an already great quality of life that the Columbia Falls community and the Canyon community have provid- ed for working families. The essence of Columbia Falls is derived from the core values of its citizens in the form of solid work ethics, generosity, down to earth principles and community pride. These same community values form the foundation for Freedom Bank. Freedom Bank was founded on April 12, 2005. The bank was originally located in a 14’ x 70’ trailer house that was in pretty rough condition. Don Bennett, Tracy Dougherty and Becky West pitched in to fix up the trailer, slap on a coat of paint and started operating Freedom Bank out of this very modest facility. Many customers and tourists would stop by to giggle about the modest facility and the sign nailed to the side of the trailer with the words “Ya Gotta Start Somewhere”. Freedom Bank operated out of this trailer for a full year, while the new bank building was being constructed. The new bank building turned out to be an excellent addition to the Columbia Falls community and served as an impetus for the rejuvenation journey that the Columbia Falls community was about to embark upon. When people walk into the bank for the first time, they often times remark on how warm and comfortable the bank feels. This atmosphere has resulted in a very solid customer base that recognizes the value and passion that a true community bank brings to a banking relationship. Freedom Bank has now been open for eleven years and during that time the Columbia Falls community has experienced some very challenging times. The great recession beginning in 2009 result- ed in a significant amount of job losses in the local area with the Columbia Falls Aluminum Company closing its doors and the Plum Creek lumber mills realizing significant job cutbacks. Many commu - nity members were forced to relocate to the oilfields, or some other occupation, in order to continue supporting their families. This made for some very difficult circumstances for many families, but the Columbia Falls community stuck together and supported one another through these excruciating times. The economy has since improved and jobs have started coming back. In an effort to stimulate community pride, Freedom Bank ini- tiated an innovative new program called the Gateway Pride Project. Freedom Bank provided loans of up to $5,000 for business owners to make improvements to the outside of their businesses. The loans are at 0% interest with no fees and repayment schedules of up to four years that are matched against the cash flow experienced by each individual business. This program has been a huge success and many business owners have taken advantage of this program, which in turn, has improved the overall appearance of the commu- nity. Community spirit is very high and there are many new projects coming on line that will further stimulate the local economy. Free- dom Bank is very proud of the role that the bank has played in the growth and prosperity of the community. Don Bennett stated “We are gratified that Freedom Bank has been able to provide businesses and individuals with opportunities to expand their horizons and solidify their financial stability. That is what community banking is all about!”