October 3, 2008

Whoo Hoo!

Washington Mutual stays open at the Square

Other businesses are stable too

By Bill Highlander
Editor

The financial crisis is on the minds of everyone concerned about their savings. JPMorgan Chase bought Washington Mutual after federal regulators seized the Seattle-based bank, making it the largest bank failure in the U.S.

But customers of WaMu, especially the branch at the Evergreen Village Square can be relieved of concern. Bank representatives are encouraging customers to come in with their questions. They say that that the new organization creates a stable banking system with deposits insured by the FDIC and backed by the security of JPMorgan Chase.

Customers will see no immediate changes. It may take several months for the signs to change, but account numbers, checks, ATM, loans, credit cards and customer service will remain the same.

Representatives of the branch say that next week, the bank will have customer appreciation days, offering gifts and incentives while providing information about the continuing service to its customers. They ask that people note the great rates being offered on certificates of deposit and money market funds.

A new ice cream shop is expected open soon at Evergreen Village Square also. Signs announcing that the Village Creamery is coming soon to replace a former ice cream store.

Danielle Bechwati, owner of Secret Oasis Day Spa and Salon says her business is doing well. Also, as head of the Evergreen Village Square Business Association, Bechwati says that the other businesses in the Square are stable although adjusting to a difficult business climate.

In addition to WaMu’s reorganization, a new ice cream shop is expected open soon at Evergreen Village Square. Signs announce that the Village Creamery is coming soon to replace a former ice cream store.

Dance Theatre International is expanding its ballet instruction to higher levels based on the caliber of students and teachers at the school. According to Maggie Ferla, owner of DTI, “People are coming from all over the Bay Area to train here and the school is doing quite well.”

Kelly Eradi, vice president of Shapell Industries and developer for the Square says a lease is being written for a new educational center and other interested parties are in discussion. Progress on finding a replacement for Lunardi’s is ongoing, but taking longer than hoped, according to Eradi.

Movie Night at the Square drew a large crowd and on most days, people are shopping in the stores and enjoying the friendly atmosphere of the Square. The area is becoming the gathering place it was designned to be.