Optus Bank Moves Headquarters to Revitalize Columbia

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Newly renovated Optus Bank headquarters in Columbia

News Summary

Optus Bank is set to transform a vacant property at 1710 Gervais St. into its new headquarters, revitalizing the Columbia area. With a significant investment of $2.6 million, the bank aims to foster community spirit while continuing its mission of supporting marginalized communities through various financial services. This expansion marks an exciting chapter for Columbia as it welcomes the first Black-owned bank in South Carolina, enhancing local economic growth and connection.

Columbia Welcomes New Life with Optus Bank Headquarters

Columbia is buzzing with excitement as Optus Bank plans to breathe life into a vacant property at 1710 Gervais St.. This 22,500-square-foot building, conveniently situated near the University Hill neighborhood, is set to become the bank’s new bustling headquarters. Having recently purchased the building for $2.6 million from South State Bank, the beautiful renovations from 2017 will soon serve a purpose as the space gets filled with both employees and community spirit.

What’s particularly special about this news is what it means for Columbia’s landscape. The community will surely feel the positive effects of this transformation, as it revitalizes a prominent area that has been quiet since late 2020. The bank is making a significant investment not only in its future but in the future of Columbia itself.

Optus Bank’s Inspiring Journey

Founded way back in 1921, Optus Bank proudly holds the title of South Carolina’s first Black-owned bank. Initially known as Victory Savings Bank, it was a cornerstone for the community, originally opening its doors in Columbia’s historic Black business district at 1107 Washington Street. Fast forward to 2019, and the bank took on the name Optus Bank, continuing its mission to serve marginalized communities.

As a federally designated Minority Depository Institution, it’s clear that this bank has an important role to play in the state’s economic landscape. The bank works tirelessly to provide capital loans and various financial services, ensuring that those in underserved communities have access to essential resources. This vital work continues as they now extend their reach into the Upstate, serving 38 customers there and planning for even more growth.

Embracing New Technologies

Optus Bank’s expansion strategy involves leveraging modern technology to build stronger customer relationships, making the need for additional physical branches less critical. Although they currently do not have plans to open more branches in the Upstate, the focus remains on fostering community connections and delivering meaningful financial services.

Leadership Changes and Bright Futures

Exciting changes are happening within the bank’s leadership as well. The current president and CEO, who has been at the helm since 2017, is transitioning to the role of vice chairman. This leadership shift aims to create pathways for a pipeline of diverse talent within the bank. With a proven track record of success under the current leadership, including a staggering 1,000% growth in assets and raising over $100 million in equity, the future looks immensely promising.

As Benita Lefft steps into the role of president from her position as chief operating officer, the bank is poised to continue its mission-driven approach. Optus Bank’s commitment to blending social equity with financial soundness ensures that it remains focused on creating lasting generational wealth within communities.

Standing Strong with Community Support

The past few years, particularly during the pandemic, have showcased the resilience of minority depository institutions like Optus Bank. With institutional support and investments in diversity coming in, the bank has thrived. Nearly 90% of Optus’ loans target low-income communities and minority-owned businesses or homes, reflecting its dedication to empowering those who need it most.

As the dust settles on this exciting announcement, Columbia waits eagerly for the unveiling of the new Optus Bank headquarters. Residents and community members alike can look forward to a revitalized area and the incredible benefits that will come with having such an esteemed institution in their neighborhood. It truly feels like a new chapter is opening for Columbia, thanks to Optus Bank’s commitment and drive to make a difference.

Deeper Dive: News & Info About This Topic

HERE Resources

South Carolina Progressive Network Invests $250K in Local Optus Bank, Ushers New Era in Community-focused Banking Practices

Additional Resources

Optus Bank Moves Headquarters to Revitalize Columbia

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