• Personal Finance

    Reasons to Use a Community Bank

    Executives Stay Local

    With a national entity, you never know where its executives and managers are located. With a community bank, however, you can rest assured knowing that its executives live locally, are easily accessible and are invested in the community.

    Productive Investment

    Nationwide institutions set aside a substantial part of their resources for speculative trading on Wall Street. This provides a nice return for them but does nothing for their clients or the local economy. Smaller banks don’t rely on such investments, instead choosing to work to turn client deposits into loans.

    Personal Qualification Criteria

    Larger institutions that lack local roots usually operate on an impersonal qualification criterium when determining a candidate for a loan. Conversely, community banks are open to taking into account family history and personal character when deciding upon a loan. Individual circumstances actually matter to local banks and they’ll spend time to consider them.

    Shorter

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  • Personal Finance

    Find A Good Bank

    The neatest thing to do would be to locate the top banks that can be in your area. Call all of them up and request some information from them. Ask them what type of fees they’ve, if they’ve online banking, and what kind of interest levels they give out to those who might want to take out a loan with them.

    The more information you possess the better you will be capable of make a choice on who you should be working with. When unsure you should also sit down and speak with friends and family on the bank they are utilizing. Get a thought of what type of transactions they have had and how easy it was to work with them.

    You might need to look for a bank that is not going to charge you a lot of money in order for it to keep a savings account … Read the rest