Arvest recognized with ethics award, highest J.D. Power rankings
BENTONVILLE -- Arvest Bank and three other companies were recently recognized by the Better Business Bureau of Arkansas as winners of the 2014 Torch Awards for Ethics.
Winners are selected by an independent panel of judges based upon their company policies and practices in how they relate with customers, employees, suppliers and the communities where they do business. The Torch Award program is the premier public recognition of organizations that intentionally pursue the principles upon which the BBB ethics program is based.
Commenting on this recognition, Lisa Ray, president of Arvest Bank of Springdale, said, "It is truly an honor for Arvest to be recognized by such an outstanding organization as the Better Business Bureau of Arkansas. We strive every day to do the right things and to do them the right way.
"In our associate training, it's simply called 'The Do Right Rule.' And doing right means focusing on our customers' needs and investing back into our communities. It's nice to get some recognition for how we strive to do business, even though that's not why we do business the way we do."
The other Torch Award winners were Bud Anderson Heating and Cooling of Lowell, Main Street Service Center of Harrison and Window Mart of Royal.
It was also recently announced that Arvest Bank ranks highest both in the South Central Region and in the Southwest Region in the J.D. Power 2014 Retail Banking Satisfaction Study.
This is the sixth year that Arvest has been recognized with a J.D. Power award and the 10th overall regional award during this time. Previously, Arvest has been ranked highest in satisfaction with retail banking in the Southwest (2010, 2011, 2012, 2013, 2014), Southeast (2009) and South Central (2010, 2012, 2013, 2014) regions.
The 2014 study was conducted with more than 80,000 banking consumers throughout 11 regions across the United States.
In the South Central Region, Arvest received the highest score in four factors analyzed by the study -- product offerings, facility, account information, and channel activities. The South Central Region is comprised of five states: Alabama, Arkansas, Louisiana, Mississippi and Tennessee.
In the Southwest Region, Arvest received the highest score in five factors -- fees, product offerings, facility, account information and channel activities. The Southwest Region is comprised of six states: Arizona, Colorado, New Mexico, Nevada, Oklahoma and Utah.
Many factors contribute to Arvest's highest ranking in the study. The bank offers a highly-rated in-branch experience and 12-hour weekday banking at many locations, along with Saturday hours at many of its more than 260 locations. Arvest also provides a wide variety of desirable checking and loan products as well as many customer conveniences including online banking, mobile banking, mobile check deposit, deposit image ATMs and other electronic services.