Something is a little different when walking into a Capital One Café. It has the feel of a regular coffee shop — but with special powers.
Maybe it’s all the superheroes.
“National Superhero Day is April 28 and that is the day our Financial Superpower campaign officially launches,” Kristy Ryan, the Capital One Café Coach at the 1538 N. Clybourn St. location, said during a recent tour of the space. “It’s going to be an exciting day here at the café. We are going to have Superhero Squad street teams surprising and delighting folks with good deeds. Lots of fun.”
Capital One Cafés have only been around a few years, but there are already locations across the country — including in Boston, Los Angeles, Seattle, South Florida, Austin, Philadelphia and more. An additional Chicago location is located at 3435 N. Southport Ave.
Sixty-five percent of Chicagoans admit to having a financial weakness, according to Capital One’s Financial Superpower Survey . Of those 65 percent with financial weaknesses, nearly 30 percent reveal their weakness to be “avoidance” — meaning they have an overall fear of dealing with their finances. The next biggest weakness was “unknowing” — meaning the person doesn’t even know where to begin when dealing with finances. Lastly, 20 percent of people noted they experience “freezing” as their weakness, meaning they get overwhelmed and easily give up on managing their bills.
A café might not be the first place that comes to mind to host a financial conversation, but that’s what makes it work. According to the Financial Superpower Survey*, more than half of adults living in Chicago would prefer advice from an expert, as opposed to a confidant.
Partnering with actress Katie Cassidy, who plays Laurel Lance/Black Canary on the television show “Arrow,” the financial superpower experience, that will run through June, allows café patrons to discover their own comic based financial superhero or villain off of a set of four high-tech interactive posters.
The first poster asks visitors to select a financial superhero that best represents them. The choices include The Balanced Optimist, The Flexer, Captain Cautious, Mellow Maven, The All-Planner or The Frugal Master.
Next, you select a financial villain — Mistress of Fear, The Impulsinator, Blissful Ignorance, The Know-It-All or The Big Spender.
The third and fourth posters represent a financial battle or struggle that the person participating is going through and what their financial goals are. After locking in selections, a comic strip is sent to the participant’s phone.
All of this is for more than just Capital One customers, too.
“The Capital One Cafés are definitely for everyone,” Ryan said. “We’ve got all sorts of different things that you can do here in the space. You can attend a complimentary money workshop, you can schedule a free session with our money coach, you can talk with one of our café ambassadors about Capital One products or get help your account needs, or you can just meet a friend for a cup of coffee. If you are a Capital One customer, you do get 50 percent off all your beverages at the Peet’s counter.”
Another quirk of the café is the Capital One ATMs that reside inside of it. Extra denominations of cash are available — if it’s seven dollars you want to withdraw, the machine will spit out a five and two ones.
The money coaching sessions are free for the first three visits. Each session lasts an hour and Capital One recommends two to four weeks between sessions. The program is designed to connect values to money, plan future goals and help build confidence to get there.
Nearly 90 percent of U.S. adults currently have long-term financial goals they hope to achieve, but more than 65 percent of them are unable to overcome their financial kryptonite, according to the Financial Superpower Survey. Seventy-six percent of adults are currently facing some sort of financial struggle.
“I think everyone has a little superhero inside of them,” Ryan said. “Here at the café, we want to be a resource to help people to find the tools and strengths to channel their inner superhero.”
Content created for Capital One.
To learn more about the Capital One Café, click here.
*The Capital One Financial Superpower Survey was conducted by Wakefield Research among 1,000 nationally representative U.S. adults, ages 18+, and to 500 adults in each of 8 DMAs: Los Angeles, San Francisco, Chicago, Philadelphia, Boston, Miami, Seattle, Denver between March 30 and April 9, 2018, using an email invitation and an online survey.
Money Coaches are not financial advisors, or accountants, or tax specialists.