Benefits of Banking Local: Invest in Your Community | Peoples Bank

There are many reasons to bank locally, and there’s no better time to talk about them than during Community Banking Month in April.

One of the primary messages of Community Banking Month is simple enough: Where you bank matters. And it comes down to where your money is reinvested – in your community, or through a banking hub in another state, or even another country.

But there are plenty of other reasons why you should strongly consider choosing a community bank:

1. They Help the Local Economy

Local banks, such as Peoples Bank remain anchors in their community through good times and bad. They keep money flowing locally by lending and funding in the communities where their customers live and work. They also provide loans to local businesses and individuals.

2. They Build Relationships

Larger financial institutions often have a transactional-based approach to banking. But community banks get to know their customers on a personal level, and gain an understanding of their personal financial needs. The bottom line is that local community banks exist and thrive because of their close personal relationships with their customers.

3. They’re Involved in the Community

There’s no telling where you’ll find your community bank representatives – at a local shelter, as part of a campaign drive to raise money for schools and scholarships, or at an event to raise awareness of serious health issues, such as breast cancer and diabetes. Local banks have a strong commitment to the communities they serve.

4. They Have the Benefits of Big Banks

Most community banks now offer the same things larger financial institutions do, whether it’s mobile apps and mobile banking, expanded fraud protection, or the best products and services on the market. However, they also offer more – not the least of which is their personal connection with their customers and their availability.

5. They Understand Local Economies

Community banks are small businesses, and as such, are a tremendous resource for people who are looking to launch businesses locally. One study showed that small businesses that apply for loans with local banks are the most satisfied and successful.

6. They Create Jobs

Community banks not only employ hundreds of thousands of people nationwide, but they also fund small businesses that supply more than half of America’s private workforce. These jobs wouldn’t be possible without community banks.

The above are just some of the many benefits of a community bank. Peoples Bank is proud to serve several West Texas Communities while practicing its core values of family, community, and service. Give us a call today and bank locally!