The Road to Financial Health: The Interview
President & CEO, IncredibleBank
IncredibleBank (IB): Todd, how long have you been at IncredibleBank?
Todd Nagel (TN): I’ve been at IncredibleBank since 2004, which is when River Valley Bank, the former name of IncredibleBank, purchased some locations in Michigan’s Upper Peninsula from National City Bank. In 2007, I was appointed Chief Operating Officer and then in 2011, I was named President and CEO.
IB: Well, let’s get into the name since you brought it up. It’s bold, it’s not exactly traditional, it’s downright different. How did it evolve?
TN: You’re right, it’s all of the above and a whole lot more. The name is a promise, but it also serves as a daily reminder to us of what we need to be, incredible. It’s a lot to live up to, but in the end, why should we be less than what we aspire to be?
IB: If you aspire to be incredible, what’s the process that makes you that?
TN: There are a few things that are part of the process. First, we have a trademarked model and philosophy called Incredible Customer Experiences that guides us everyday. It’s our yardstick, our standard and our benchmark. Simply put, we will deliver an incredible customer experience with every customer engagement, period. Second, we test and we practice this model, and after we can’t practice it anymore, we practice it again. Third, we know that our business customers, particularly owners, work all hours of the day and night, including weekends. We are bankers who work on our customer’s clock, not banker’s hours. And fourth, we really care what makes life incredible for our customers, and we help them get there.
IB: There’s a story behind the derivation of the name, right?
TN: Correct. Steve Anderson, who was the CEO prior to me, had an uncanny resemblance to Mr. Incredible from The Incredibles movie. A while back, Steve would dress as the IncrediBanker at various events, and IncredibleBank stuck around until it became the name of our online bank in 2009.
IB: What’s your focus going forward?
TN: That’s an easy question to answer; it’s the customer, of course. What we’re trying to do is single handedly change the optics of banking. We’re turning the camera on our customers and away from us. We’re literally trying to get customers to “their incredible” whether it’s a mortgage, a new business loan, better insurance coverage, or even a luxury motor coach. What we say to them is, “we’re not just here to help you start something incredible, we’re here to help you finish it”; basically, we’re in this for the long pull, and that’s our incredible.
IB: Is there anything you care to reveal about yourself on the personal side of your life?
TN: Not really. Just kidding. I have two wonderful daughters, I enjoy the outdoors, particularly going to Michigan’s Upper Peninsula where I spent my formative years, I’m a huge NASCAR fan, and I enjoy traveling the country by motor coach.
IB: Apparently you enjoy the open road so much you have a book coming out in 2020.
TN: Yes I do. It’s called The Road to Incredible: Destinations, Detours & Discoveries and I’m looking forward to its release.