A bank should be able to grow with you as a company, provide loans to support you as you expand, and provide strong customer service for all of your banking needs. In today's banking environment, concerns about corporate greed and the irresponsible lending practices that have contributed to our poor economy has encouraged business customers to take a new look at how community banks can better meet their needs.

• Community banks are often safer than large, national level banks. Community banks are heavily regulated and often have more oversight than larger banks. Because money that the bank handles remains within the community, community banks are less likely to take big risks. The people who work at community banks are often your friends, family, and neighbors, so they are often more personally accountable to the businesses they work with than the loan officers that you find online or at the other end of a telephone hundreds of miles away.
 

• Loan decisions are made locally, not by a distant loan servicing center. When you apply for a loan with a community banks, the approval request is processed through a local committee, rather than being sent off to another state for review. The members of a local committee are more likely to take a look at the overall financial situation of a particular business, rather than relying strictly on a credit score. Your loan officer at a community bank will know who you are, and will take time to understand your business. Local banks also offer faster turnaround on most loan decisions.

• In order for a community bank to survive in a community, employees and management must be highly service oriented. Because they work harder to earn your business, customer service becomes a top priority because local banks know that you may leave. Community banks give you access to a live person that you can speak to in person who understands what your business needs to succeed.

• The fees charged by community banks are often far lower than those charged by big banks. While community banks offer almost identical services as those offered by national banks, the fees associated with these services are significantly less due to the lower overhead and increased focus on customer service.

• Supporting your community banks means supporting your local community. For most business owners, a majority of your business will come from within the community. Community banks are often strong supporters of local organizations, and they put profits back into the community. The people you bank with will be your customers, and supporting them is good for you as well.

Community banks are better able to understand and respond to the needs of local business owners. By working with a bank that is part of your community, you are supporting the local economy while enjoying better service and lower fees for your company.