January 18, 2019
Dear Zachary and Surrounding Communities,
The recent news of the Georgia Pacific, BASF and Thompson Pipe Group layoffs has hit our local communities hard. The Bank of Zachary is deeply concerned by the news of these closures and is actively laying out plans to help our customers and local communities navigate the fallout from the economic impact.
Bank of Zachary first opened for business on July 2, 1904, making it the oldest bank headquartered in East Baton Rouge Parish. Support for our community is the bedrock on which our bank was founded, and it remains our guiding principle. As a community bank, we are relationship driven and understand the needs of our customers and communities. It’s just the way we do business. In today’s world that means being ready for anything that comes our way. A natural disaster like the flood of 2016, or a financial and economic event such as a layoff is no exception.
We are in the process of reaching out to our customers to help them through this uncertain time. We encourage everyone affected by the recent layoffs to contact their financial institutions to communicate your specific needs, and to determine what resources may be available to you.
In addition, Bank of Zachary has commissioned an economic impact analysis for the Zachary community. The research is underway, and our intention is to make this information available to the public when complete. This public service will provide a detailed understanding of the economic impact on those directly affected as well as the potential impact on local economies and related industries. This will hopefully add clarity to the decision-making process of our governmental officials, small business owners and to the whole community while we navigate these uncertain times.
The worst circumstances often bring out the very best in our humanity and in our communities. When torrential floodwaters descended upon south Louisiana communities in the fall of 2016, individuals and communities united to provide comfort and support during a time of great uncertainty for many. As we’ve seen time and time again, this community has risen to the occasion, despite their own challenges.
I urge you to seek out the locally owned businesses and SHOP LOCAL at every chance you get. These business owners will need you now more than ever before. By shopping and banking locally, you and your community reap benefits you might not experience when frequenting big, national chains. More of the money you spend at a locally owned business will be reinvested in this community, YOUR Community!
On behalf of our Board of Directors and the entire Bank of Zachary team, have confidence that we will continue to stand strong with YOU.