Five Key Reasons to Choose a Community Bank

1. Local Decision Making

   At community banks, loan approvals and key decisions are made by people who are personally vested in the success of the local community and understand local needs. Because of this personal knowledge, community banks are able to approve small business and other loan types that large, money-center banks would perhaps not consider.

2. Lower Cost Services

   Most locally owned banks generally offer a similar array of services, at lower cost than big banks. According to national data, community banks charge less fees on average than big banks, offer better interest on savings, and offer more favorable loan terms.

3. Promoting Local Growth

   Small businesses create new jobs in the community, and they depend heavily on local community banks for financing.

4. A Symbiotic Relationship

   The success of the local bank is tied to the success of the communities it serves. The more the community prospers, the more the local bank benefits. This is why local banks choose to be heavily involved in their communities. In contrast, large money-center banks are not as vested in the places where they operate and often use local deposits for investments in other regions.

5. Support Productive Investments

   The primary activity for local banks is to turn deposits into loans and other productive investments, which provide economic and social value for the communities they serve.