Monday, April 18, 2016 2:33:00 PM
Three Advantages of a Community Bank
Have you ever stopped to think about where your money goes when you make a deposit or what your bank is doing with your money?
When you partner with a community bank, you can count on the fact that your money stays local as well as a few other benefits to you and your community:
Local Growth. If you’re banking with a community bank, your deposits fuel local growth. The bank loans money to businesses within the community – businesses where you and your neighbors work, and businesses that you patronize. Larger banks typically collect deposits from smaller markets and use those funds for loans in more profitable metro markets.
Local Decisions. When you apply for a loan at a community bank, decisions are made locally. The people who make those decisions understand your goals and know your challenges. Loans can be based on more than your credit score because you aren’t a faceless loan applicant in a sea of other borrowers. Local banks are much more nimble when making loan decisions and can make those decisions based on more than your credit score. Character, family history and your spending habits are also considered.
Local Presence. A local bank’s employees are invested members of the community. They’re volunteering time, sitting on boards of non-profits and coaching little league. They care about the community because they’re a part of it too.