Why Should You Choose a Smaller, Community Bank?

Choosing a bank is tough. You have to do your research on fees, customer service, policies and more. You want to make sure you choose the right bank — one that delivers the best results and truly cares about those that bank with them.

For many, the role community banks play within cities across the country is poorly understood. While people often think of big-name banks first, in fact, community banks make up 96 percent of all banking businesses throughout the U.S. This means smaller banks are playing a significant role in meeting the day-to-day banking needs of millions of Americans.

There are numerous benefits that come from choosing a smaller, community bank. If you’re looking for the perfect bank for you, here are some of the reasons why choosing a community bank is well worth the effort.

They Care About Their Clients

Large banks are generally not as concerned with how their clients fare when working with them, particularly when those clients are only storing modest amounts of money. These large institutions are looking to close deals, open loans and invest large amounts of money. Smaller, community-focused banks, on the other hand, focus primarily on making sure that the community is taken care of. They want to give you the best possible rates, the best possible loan amounts and, of course, won’t try to charge and charge you just to make more money. Just look to the infamous 2016 Wells Fargo scandal for an example of what can go wrong when a bank doesn’t truly have its customers’ best interests at heart.

You’re Investing in the Community

When you invest in the community, you support the community. This is a great thing for everyone living in the area. Usually, small banks do many things for their communities to help them develop, including donating to local schools and more. When more people from the community give their business to local banks, they’re able to do even more to give back.

Same Services, Better Prices

When using a community bank, you don’t have to pay a monthly membership fee if you make less than a certain amount each month and don’t use direct deposit. You will be able to benefit from having a bank that offers online bill pay, provides debit and credit cards and has lower fees if you overdraft or need to borrow. These fees can add up quickly, so it pays to have a bank that’s looking out for you.

It’s Completely Personal

Everyone loves personalized service. When you walk into your local community bank, their team members will know you and you will know them, making everything more personal. They will make sure to take time out of their day to answer your questions and even just have a chat about the weather.

Sharing the same values and commitments as the community bank does allows you to work seamlessly with a bank that truly cares about you. This is hard to find with just any bank out there — choose a smaller, local bank to get these exclusive benefits.