Business Services Industry
`Virtual Bank' Opens in Northeast Pennsylvania.
Knight Ridder/Tribune Business News, October, 1999 by Turfa, Pamela C.
Knight Ridder/Tribune Business News
Sep. 8 -- WILKES-BARRE, Pa. -- In some ways, GUARD Security Bank doesn't seem like a bank.
There's no teller counter or checking accounts.
The thrift won't offer mortgages.
And, loan officers expect to do much of their business by phone, fax and the Internet.
Bank President Richard Mebane describes the newest Wyoming Valley financial institution as a "virtual bank."
GUARD Security, he says, will seek a niche market, using competitive prices and service to attract customers, he said Thursday.
Located in the former home of the president of the Glen Alden Coal Co., the subsidiary of GUARD Insurance Group opened Monday.
GUARD, which is chartered by the federal...
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