Banking on Coffee

Capital One has recently opened two new hybrid coffee shops and banks in Chicago.

July 20, 2016

CHICAGO – Coffee and banking might seem like an odd combination, but Capital One doesn’t think so. The financial institution is expanding its hybrid coffee-bank cafes with two new Chicago locations slated to open early next year, and up to six cafes in South Florida by the end of 2017, the Chicago Tribune reports.

Already, Boston has five Capital One Cafes, while Chicago, Lost Angeles, Philadelphia, San Francisco and St. Cloud, Minn., each currently have one location. “We do have plans for other markets,” said Mike Friedman, market lead for Capital One. “Customers want a bank in their pocket wherever they go, but they also want a place with live conversation.”

Friedman said the cafes represent Capital One’s belief in the importance of a physical brand. Use of the café isn’t restricted to Capital One customers, and workers won’t “have a banking conversation unless you ask,” he said.

Capital One Cafes provide free meeting space for educational or nonprofit groups to reserve, again without regard to whether or not the group is a Capital One customer. The cafes have ATMs.

The café serves coffee from Peet’s and pastries from local bakeries. The two new Chicago locations will have between 7,500 square feet and 8,700 square feet.

Advertisement
Advertisement
Advertisement