Where You Bank Matters: Community banks build better communities
April is community banking month. The Independent Community Bankers of America® (ICBA) and TSB Bank are reminding consumers: Where you choose to bank and with whom matters.
“When you bank locally, you’re reinvesting in your community, contributing to the welfare of your neighbors and building a legacy of prosperity for future generations,” said ICBA President and CEO Rebeca Romero Rainey. “Community bankers power your region’s small businesses and influence job growth one loan at a time. They’re rooted in your community, ensuring they have a stake in your financial success and the strength of the community overall.”
Community banks support local startups—funding more than 60 percent of small business and more than 80 percent of agriculture loans—and contribute tax dollars that help maintain local municipalities and keep local neighborhoods viable and vibrant.
When choosing who to trust with your hard-earned money, ICBA and TSB Bank want consumers to know that they have a choice and know the following:
Community banks respect and honor their community ties. Community banks have symbiotic relationships with their communities—one cannot thrive without the other.
Community banks are relationship lenders. They know their customers and understand their financial needs.
Community banks understand and embrace local businesses. A study from the Federal Reserve Banks found that small businesses that apply for loans with community banks are the most successful and most satisfied. ICBA celebrates local entrepreneurship on the third Wednesday of every month with Go Local Wednesday by supporting local businesses via social media.
Community banks give back. Serving local communities is second nature to community banks, as reflected in ICBA’s National Community Bank Service Awards.