How Keeping Your Budget A Secret Can Backfire

Category: News • April 24, 2025

For the banks and credit unions we serve, the decision to move forward with a construction project is essentially a decision to invest. Whether an institution is thriving, and the client simply wishes to maintain their momentum, or they have a branch that’s underperforming and needs to be revitalized, investing in the physical spaces that represent their brand is one of the most effective ways to achieve these goals.

However, while these institutions may have a very clear vision of what they’d like to accomplish, their construction knowledge is typically very limited, and they must rely on the expertise of the contractor they choose to work with. This lack of insight often leaves clients feeling vulnerable and reluctant to reveal their budgets. What they don’t realize is how withholding this information can impact their overall project costs.

While a client may be prepared to spend a million dollars on the construction of a large-scale renovation, they don’t usually consider the additional expenses associated with their project. Over the course of our 30-year history, our estimators have gathered and saved massive amounts of data that help them forecast how much of a particular budget will be used on project costs that fall outside of construction.

By being up front with their budgets, clients give our team the opportunity to:

  1. Create viable designs that address their needs (There’s nothing worse than spending weeks on a design that your client can’t afford. We hate disappointing you!)
  2. Suggest materials from different price points that offer the same effect (We can help you lower your costs without lowering your standards.)
  3. SAVE YOU TIME & MONEY! (Avoid the delays and fees associated with redesign, rebidding, and reapproval.)

Think of it this way, as a bank or credit union it is your job to help your customers and members make well-informed decisions. Your success as an institution is contingent on your ability to ensure an optimal return on your client’s investments. To do this you must rely on your experience and expertise and then leverage this knowledge to identify their best path forward. Without a clear picture of their finances, this task becomes nearly impossible.

The same is true for our dedicated team of design and construction professionals. Only when we have all of the facts can we identify the best path forward for your project. In the world of construction, the time for mutual transparency should begin with the first conversation.