4 Things Big Banks Don't Want You to Know about Local Banking

Big banks can’t compare to the sense of community found within the walls of your local bank. Plus, your community banks directly benefit your family, friends, and neighbors. However, in today’s economy, there are tons of places to bank. Even in this ever-changing society, locally owned banks and credit unions are still an important part of the community.

Here are 5 reasons to bank locally (that big banks don’t want you to know!)

1. It’s cheaper!

Who doesn’t want to save money? Usually, local banks offer the same services with a smaller price tag. Even the smallest local banks offer the same services, like debit cards and online bill paying. Typical fees at small banks are considerably lower than at big banks. In addition, community banks offer better terms on credit cards and loans.

2. It creates job opportunities.

Locally owned banks create new jobs. One reason is because local small businesses rely on community banks for financing. Additionally, no matter what condition the economy is in, local banks remain solid footholds for their communities. They keep money flowing locally. They also offer loans to families or local businesses, allowing growth. On the other hand, big banks don’t typically allocate their resources to the community in the same way.

3. They’re an integral part of the community.

Community banks are involved in the communities they serve. Locally owned banks volunteer, donate, and play a role in the community’s overall wellbeing. Whether it’s holding a canned food drive, volunteering at a school, or a hosting fund-raiser, you will observe a stronger commitment and care for the community. Plus, loan approvals are made by people who live in the community, who build relationships with their customers.

4. Benefits of big, while being small.

Big banks can no longer boast of their online features. Nowadays, community banks offer all the same features. Smaller banks now offer mobile capture, auto savings, alerts, mobile apps, and more. Now more than ever, is a time to get on the locally owned bandwagon. Why not support your community if you don’t have to sacrifice the features that used to be exclusive to big banks? Plus, you get the personal attention and relationship with your banker. It’s in the bank’s best interest to serve their community because as the community prospers, so do they. That special interconnection can never be reproduced by big banks.

At Porter State Bank, we offer the Region friendly banking, built on trust. Call us for more information or stop in. We’d love to meet you!

Main Office: 219-926-2136 Chesterton Branch: a href="tel:2199264422">219-926-4422 Pines Branch:a href="tel:2198743425">219-874-3425