When looking to open a personal savings account, manage your loans, or keep track of your finances, consider banking local. Deciding to bank local is a simple yet powerful way to support your community. A local bank has numerous benefits for you and your community, such as personal attention, community involvement, and economic improvement.
- Customer service is more personal at local banks. When you choose a local bank, you get the opportunity to see a familiar face that understands your financial situation. These personal relationships allow you to make better decisions so you can achieve your financial goals.
- Local banks are more involved in the community. Community banks are locally controlled and operated, and they focus on the needs of local businesses and families. They play a big role in the community by sponsoring schools, businesses, and events. So, when you bank locally, you are working with an organization that is involved in the community and aims to make lending decisions that will help local families, businesses, and farmers [2].
- Local banks make a huge economic impact. When you keep your money local, your bank can make more loans to the people in your community. Local banks play a pivotal role in keeping the dream alive for small businesses. Local banks have funded 60 percent of small business loans. Meanwhile, large banks hold the other 85 percent of America’s fortune and pass the buck on creating opportunities as a lender for small businesses. So, local banking helps create more opportunities for small businesses to thrive, which means more local job creation and employment growth in your community. But to give loans, a bank needs deposits on their books. And when you open an account at a loan bank or credit union, you add to those deposits [1].
At Greenville Savings Bank, we have three branches located in Greenville, Hermitage, and Neshannock, PA. Our three branches have dedicated and friendly staff that are ready to help you achieve your financial goals.
Resources
1. Why Bank Local? 5 Ways it’s better for you (and your community). Dec. 22, 2021.
https://www.kasasa.com/blog/products/why-you-should-bank-locally
2. Why Bank Local?
https://banklocal.info/why-bank-local