Do you plan on looking for a new bank anytime soon? It is well worth the effort, but it might take time to find the one that meets your needs. Choosing the right bank can affect many things in life such as whether or not you get a mortgage for your new home or a loan for your small business. It could mean better rates and lower fees. The Independent Community Bankers of America (ICBA) recommends that Americans bank with community banks, which offer better rates and fees, high-quality service and personal attention from members of your community.
"More and more people are turning to community banks because they have seen throughout the economic crisis that we are good stewards of our depositors’ money," said R. Michael Menzies, ICBA chairman and president and CEO of Easton Bank and Trust Co., Easton, Md. "They’ve seen that in good times and in bad, community bankers make common-sense loans. We stick to the same sound lending principles we always have and only make a loan if it makes sense for the customer. People also like knowing that their money is being reinvested in their community instead of creating greater profits for some large, faceless bank on Wall Street."
With so many choices available, ICBA, on behalf of the nation’s 8,000 community banks including Legacy Bank, issued a checklist to inform consumers of the advantages in choosing a community bank. Community bank advantages include:
"The community banking industry has been the bright spot in this economy," Menzies said. "We have long differentiated ourselves by the quality of our customer service and our strong local ties. And we’ve become more sophisticated in the services we can offer, including remote deposit capture and even mobile banking, to match the larger banks. But the bottom line for us is relationships with people, not just transactions and numbers. The best way for consumers and small-business owners to learn about community banks is to visit their local bank and talk with their banker."
ICBA also offers these tips to remember before switching banks:
Legacy Bank makes switching easy and nearly effortless. Visit SwitchToLegacy.com for details.