As we continue to make our way through the current economic crisis, it’s important to look to communities such as Greensburg, Kansas for inspiration and ideation.

Greensburg was a typical “rust belt” town of 1,400 people. Populated by farmers, truckers, fuel plants and oil company employees, its claim to fame was “the world’s deepest hand dug well.” But on May 4, 2007, a tornado came through Greensburg and leveled 95 percent of the town, killing 11 people.

At the time, Greensburg had a choice to make. Pick up the pieces and rebuild what they had, or construct a town that generates all of its own energy, uses recycled materials, and reduces natural resource use with buildings that are both healthier and more energy efficient. Greenburg could become the first “green” town in America.

“The tornado was one of the biggest blessings to hit our town,” Greensburg mayor John Janssen was quoted as saying in a USA Today article. What’s most interesting, I think, is Janssen’s articulation that the decision to rebuild in an environmentally friendly manner is not just about “feeling good.” Environmentally conscious design can cost more up front, which doesn’t always “feel good,” but the costs are made up through energy savings.

The lesson for all of us? All change brings opportunity. More than ever before, it’s important to recognize that like Greensburg, communities across the U.S. now have the opportunity to refocus their skills and talents in new and creative ways.

At Umpqua Bank, we’ve created an eco-banking division, including a unique GreenStreet Lending program and an Umpqua Bank internal sustainability team, in order to encourage and support environmentally responsible change. With federal, state and local revenue incentives now available nationwide, all citizens can look at alternative forms of energy with new eyes. A fresh perspective allows us to see how we can reduce our energy use through the use of weatherization and higher efficiency appliance, water and heating systems. Even lighting fixtures, bulbs and water-saving fixtures – small savings – make a difference in the big picture.

The current economic challenges have given our communities a choice: business as usual, or redefine business in the context of the health and sustainability of our community. Greensburg serves as an example of a town taking the higher road.

What are you doing to rebuild better than before?

Dan Weldon
Eco-banking Manager
Umpqua Bank

Owning a home is supposed to be a proud and exciting accomplishment. But lately, owning a home seems to have gone from the "American dream" to an American pain point. Due to the economic environment and falling home values, many people are finding themselves in the situation of owing more on a home than it is worth.

However, there are many resources available to help turn these situations back around. For example, the Home Affordable Refinance Program was created to help responsible homeowners who are able to make payments, but are still suffering from falling home prices. Homeowners with loans owned or guaranteed by Fannie Mae or Freddie Mac may have the opportunity to refinance for more affordable monthly payments, providing the potential to put that additional money back into the economy.

Mortgage payments and rates can be overwhelming to anyone, particularly in today's economy. Utilizing the resources and help available can make all the difference.

Ron Stroble
EVP Mortgage Division
Umpqua Bank

Welcome to Notes from Umpqua. Umpqua Bank stores have long been used as community centers where people gather to share, learn and socialize, and we are excited to further extend our community presence online through Notes from Umpqua.

As a community bank, Umpqua has always been a resource for our customers. And in challenging economic times like these, when questions are frequent and uncertainty lies at the doorstep, we are committed to providing even more information. One way we aim to keep you informed is through regular communication like this. This is the first of many posts to come on a number of topics, and I hope you will find Notes from Umpqua useful.

Additionally, as we all make our way through this economic downturn, it’s more important than ever to keep our eyes on the eventual recovery. One of the ways Umpqua is helping our communities stay focused is through our new Save Hard Spend Smart program. This campaign follows three Savings Heroes through their savings triumphs and challenges, offering tips, tools and stories about making the most of your money.

Thanks again for visiting Notes from Umpqua. I hope you find value in these new programs and pass them along to others and as always, if you have any thoughts to share, please email me at talktoray@umpquabank.com 

Ray Davis
President and CEO
Umpqua Bank