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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (18634)	2/17/2004 11:57:48 AM
From: - with a K	Read Replies (1) \| Respond to of 78702

WM to open 250 new branches: SEATTLE--(BUSINESS WIRE)--Feb. 17, 2004--Washington Mutual (NYSE: WM, news), America's leading retailer of financial services, announced plans to add 250 more financial center stores (branches) to its nationwide network of approximately 1,800 in 2004. Snips: the company has opened more than 780 new stores in its long-standing markets, such as Seattle, San Francisco and Los Angeles, while expanding into some of America's largest cities such as New York, Chicago and Atlanta. Tampa-St. Petersburg, Fla. will be the company's newest retail banking market in 2004. WaMu's banking stores take a page from some of America's top retailers. Specifically, the stores eliminate the high counters, button-down clerks and impersonal service so often associated with the banking industry. Instead, a Khaki-clad concierge greets customers and escorts them to the appropriate service area. Gone are the teller windows, which instead are replaced with teller "towers" that allow for easier transaction between the customers and service representatives. Internet access to wamu.com is also available for those who want to learn more about bank products independently. In many of the retail financial centers, a "WaMu Kids" section features a play area with an activity table, books, Gameboys and more. "The end result is a retail model that represents a dramatic shift from traditional bank branches in look, feel and service," said Amato. "We've created a retail environment where people want to go, rather than have to go."