4 Reasons to Bank with a Community Bank | Sterling State Bank
08/01/2021
Community Banks are locally owned and provide traditional banking services to their local businesses and individuals. Typically operating with smaller assets than corporate banks, the appeal of Community Banks is their relationship with their individual customers.
Here are 4 reasons why trusting a local community bank can be better for your money and why relationship banking can get you what you need quicker.
1 – Quick, local decisions
They often play a larger role in growing the local economy by supporting small business. Their lending decisions can be made based on the close relationships they hold with their customers and their in-depth knowledge of their community. Decisions can often be made quicker as most Community Banks are privately owned and often employ people from the areas their branches reside in.
2 – It’s a win-win partnership
A committed community bank will want to sit down with you and help you with your business. As your needs change, a community bank can adapt with you and proceed accordingly. It becomes a win-win partnership. If your business succeeds, the bank succeeds so they will work hard to help you grow your business so that every party involved can thrive.
3 – Not based on checking a box
Once you establish a relationship, the bank can often work with your business accountant to stay up to date with your financial statement and tax returns. With current information on hand, approving requests can be quick and easy. The more business that you have at a bank, the more they can understand your business and how it operates. It’s not just about filling out a form and checking some boxes. With a local community bank, they can make decisions based on you, your business and the relationship they’ve built with you.
4 – A return on your community investment
Community banks are usually huge supporters of the communities they serve. They often sponsor events, participate in fundraisers, donate to organizations and volunteer their time. When you bank with a community bank, you are helping put money back into your community. It’s an investment not only into your financial future, but into your community as well.