CULLMAN, Ala. – The COVID-19 shutdown has adversely affected businesses across the country, and Cullman is certainly no exception. From outright closures to social distancing cutbacks, many local businesses have felt the impact. Cullman Savings Bank (CSB) hopes to “flatten the curve” of economic hardship on small business owners by becoming their biggest customer. Having made large purchases from those businesses, the bank then gives purchased items away to its own clients.
CSB Vice President Clara Kent explained that the bank is reaching out to various local businesses and asking what they need in order to keep going during this time, then making purchases of merchandise or gift cards. CSB’s current promotions include:
- Weekly deliveries of popcorn from Kernel Kullman to give to customers, for three weeks
- Weekly purchases of meat from All Steak to give to customers
- 20 $100 gift cards to Dreher’s Cocktail Bar and Restaurant
- 5 $50 gift cards to Platform clothing boutique
- 5 $50 gift cards to J.K. Taylor clothing boutique
CSB President/CEO John Riley told The Tribune that CSB will be visiting selected restaurants in town to buy lunch for a certain number of customers.
These are just the start, as the bank continues to go shopping with a heavy wallet, thanks to its board of directors: Greg Barksdale, Dr. Paul Bussman, Nancy McClellan, Chad Burks, Robin Parson and Lynne Morton.
Riley said, “Cullman’s been so good to us, we wanted to not just do our job, but we wanted to do extra. The board of directors was gracious enough to give me the authority to go ahead and give away a set amount of money; I don’t even want to say how much it is, but it’s in six figures, to just any small business that we know of. It doesn’t have to be our customer, but we’re just trying to inject this money into places where we think it can be used to maybe save a business, maybe kind of boost them up a little bit.”
Inclusion in the program does not follow a specific set of requirements, but is determined on a case by case basis. Neither the businesses nor their owners have to be CSB customers.
Said Riley, “It’s just where we kind of see a need, we go ahead and try to help them out. Some of them are a little bit, some of them are a little bit more. It’s not a set amount or anything.
“Some of the people were so thankful that we called and asked; they said they didn’t need any money, but they appreciated us calling and thinking about them. So they felt as though their business was doing good enough to make it; please give it to somebody else. Man, that’s great. We’ll do something with them in the future.”
Not just for the businesses
The program does not just benefit the businesses; CSB’s customers get the opportunity to enjoy whatever the bank is buying.
Riley said, “It’s kind of a win-win: we’re buying product from a business in town and we’re giving it away to our customers. Some of them may be short on a job or not being paid as much, or out of work, and we’re giving them some of this product for free.”
How long will CSB be doing this?
Riley responded, “We’re going to do it until we’re back to normal,” and noted that, “If somebody’s closed, we’re going to try to help them out; if they’re open and they’re moving slow, we’re going to try to highlight them. We’re going to try to buy product from them and give it away. Whatever we can do to kind of get them through this slow period, until we get back to whatever the new normal is and people’s businesses can thrive like they were.”
Riley wished to recognize CSB Executive Vice President T’aira Ugarkovich and Senior Vice President/Chief Lending Officer Matt Townson for their work on the bank’s COVID-19 response, both in the Payroll Protection Program and in this business stimulus program.
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