Arizona Retailer Goes Public with Bank Woes, Moves to Desert Schools Credit Union
One Mall Group is taking its frustrations with its bank public in the hopes that it will inspire other small and mid-size businesses to consider local options when weighing banking institutions.
Formed in 2006, the Tempe, Ariz.-based online retailer said it covers a range of retail categories, focusing on mattresses and adjustable beds, as well as furniture, décor, and bathroom fixtures.
Without naming the bank it switched from, One Mall Group said it has moved its business to the $3 billion Desert Schools Credit Union in Phoenix.
“Recently, our experience with big banks was becoming a daily struggle, being bounced around from department to department with frequent issues. It became evident that they did not value our business or the art of customer service in general,” said Moe Kittaneh, president and chief financial officer of One Mall Group.
In his search of both local and national financial institution options, Kittaneh said what drew him to Desert Schools was its one-on-one service, competitive accounts, and “the distinct feeling that my business would be valued.”
“I really liked the idea of using a local institution and being able to meet in person with those handling our accounts. Not only does it help the local economy, it provides us, and thus our customers, a greater level of responsiveness and care,” Kittaneh said.
“The Desert Schools’ merchant account specialist I worked with, Nancy B., was very professional and helpful throughout the entire process, and we look forward to a successful business partnership with the credit union.”
One Mall Group said it decided to announce the change from its bank publicly to inspire other small and mid-size businesses to consider local options when weighing banking institutions.