Where You Choose to Bank and with Whom Matters
Washington, D.C. (March 30, 2018)—Where you choose to bank and with whom, matters says the Independent Community Bankers of America® (ICBA), which is celebrating the nation’s nearly 5,700 community banks during ICBA Community Banking Month in April. To illustrate the positive impact community banks have on their communities, ICBA released this video ahead of Community Banking Month.
“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 Chairman Timothy Zimmerman, CEO of Standard Bank in Monroeville, Pa. “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 startups—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 wants consumers to know that they have a choice and know the following:
- Community banks respect and honor their community ties. Community banks and local communities have symbiotic relationships—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 12 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 Community Bank Service Awards.
For more facts and statistics about community banks, click here.
To find your local community bank, visit ICBA’s Community Bank Locator at www.banklocally.org. To follow the ICBA Community Banking Month conversation on social media, follow the #BankLocally hashtag on Twitter.