Staying Real

Community Banking Expands to Meet Demand




Customers tired of robotic answering machines, low CD rates, overdraft fees and megabanks’ lack of personal relationships often turn to a local bank. More than 8,500 community banks—98 percent of all banking institutions—offer a comforting antidote to the “too big to fail” promises of surprisingly vulnerable supersize institutions. They quietly continue to conduct neighborly business in 50,000 U.S. locations. According to the Small Business Association, they also provide 35 percent of all loans under $1 million. The FDIC notes that almost 93 percent of all banks in this country manage assets under $1 billion, with nearly 40 percent having less than $100 million.

“Community banking is coming back to basics” says Bruce Jensen, who, after 33 years of service with the larger financial institutions, left to establish Town and Country Bank, in St. George, Utah. “In the end, it is about customer convenience and understanding customer needs and goals.”

It’s easy to shop for the right bank starting with the Community Bank Locator at the Independent Community Bankers of America website, icba.org. Verify that it is FDIC insured at fdic.gov/deposit/index.html and compare rates at BankRate.com. Then, call and visit to assess how management educates clients and how the bank’s style matches one’s own personal values and needs.


Source: The Christian Science Monitor

Edit ModuleShow Tags

More from Natural Awakenings

Warming Planet Will Worsen Sleep

Rising temperatures could cause six additional nights of poor sleep per 100 people by 2050 and 14 by 2099, say scientists.

Exercise Benefits Cancer Survivors

Breast cancer survivors that regularly perform moderate-to-vigorous physical activity show improved attention, memory and multitasking abilities.

Eating Apples and Tomatoes Repairs Lungs

Fresh tomatoes and fruit, especially apples, help heal damaged lungs of ex-smokers and can slow the natural decline of lung function that typically occurs after age 30.

Steam Baths Ease Allergies

Thais with hay fever that soaked in half-hour steam baths three times a week reported fewer symptoms such as sneezing, nasal itching and congestion.

Bee Venom Is Powerful Lyme Disease Remedy

Bee venom reduces the Lyme disease bacterium more effectively than antibiotics, reports the Lyme Disease Research Group, in Connecticut.
Edit ModuleShow Tags
Edit ModuleShow Tags