{"id":2265,"date":"2021-05-31T13:34:45","date_gmt":"2021-05-31T13:34:45","guid":{"rendered":"https:\/\/www.vitalstatistics.info\/?p=2265"},"modified":"2021-05-31T13:34:45","modified_gmt":"2021-05-31T13:34:45","slug":"advantages-of-having-a-community-bank","status":"publish","type":"post","link":"https:\/\/www.vitalstatistics.info\/advantages-of-having-a-community-bank\/","title":{"rendered":"Advantages of Having a Community Bank"},"content":{"rendered":"

No matter if you are looking for a place to open a savings account or are looking for a home loan, a community bank is always a good option to check out. Unlike large, private banks that are run by shareholders, community banks are owned and operated by the customers that use them. There are <\/span>over 50,000 community banks<\/b><\/a> across the country that collectively hold over $3 trillion in assets.\u00a0<\/span><\/p>\n

Many people might think that larger institutions are a better choice, but this is not necessarily true. Here are some of the main benefits of working with a community bank.\u00a0<\/span><\/p>\n

Local Banks are Integrated into the Community<\/b><\/h2>\n

Local banks are integrated and responsive to the needs of communities. Large banks like to work with large, private institutions and businesses, whereas local banks are more likely to work with individuals and small businesses. Community banks are oriented around supporting communities and residents whereas large banks are usually concerned about just their bottom line.<\/span><\/p>\n

Since local banks are more invested in the community, you are more likely to find resources than a large bank. For example, community banks loan an average of more than $3 billion a year to small businesses. Community banks are often small businesses themselves, so they understand the ins and outs of running one.<\/span><\/p>\n

Personal and Business Services<\/b><\/h2>\n

Most local community banks offer a wide range of personal and business services, including<\/span><\/p>\n