Community banks build better communities
The Independent Community Bankers of America® (ICBA) and BankCherokee are reminding everyone: Where you choose to bank and with whom matters, as illustrated in these videos celebrating ICBA Community Banking Month in April.
“When you bank locally, you’re reinvesting in your community, contributing to the welfare of your neighbors and building a legacy of prosperity for future generations,” said ICBA President and CEO Rebeca Romero Rainey. “Community bankers power your region’s small businesses and influence job growth one loan at a time. They’re rooted in your community, ensuring they have a stake in your financial success and the strength of the community overall.”
Community banks support local startups—funding more than 60 percent of small business and more than 80 percent of agriculture loans—and contribute tax dollars that help maintain local municipalities and keep local neighborhoods viable and vibrant.
When choosing who to trust with your hard-earned money, ICBA and BankCherokee want everyone to know that they have a choice and know the following:
- Community banks respect and honor their community ties. Community banks have symbiotic relationships with their communities—one cannot thrive without the other.
- Community banks are relationship lenders. They know their customers and understand their financial needs.
- Community banks understand and embrace local businesses. A study from the Federal Reserve Banks found that small businesses that apply for loans with community banks are the most successful and most satisfied. ICBA celebrates local entrepreneurship on the third Wednesday of every month with Go Local Wednesday by supporting local businesses via social media.
- Community banks give back. Serving local communities is second nature to community banks, as reflected in ICBA’s National Community Bank Service Awards and Minnesota Bankers Community Impact Week.
For more facts and statistics about community banks, click here.
To follow the ICBA Community Banking Month conversation on social media, follow the #BankLocally hashtag on Twitter.
The Independent Community Bankers of America® creates and promotes an environment where community banks flourish. With more than 52,000 locations nationwide, community banks constitute 99 percent of all banks, employ more than 760,000 Americans and are the only physical banking presence in one in five U.S. counties. Holding more than $4.9 trillion in assets, $3.9 trillion in deposits, and $3.4 trillion in loans to consumers, small businesses and the agricultural community, community banks channel local deposits into the Main Streets and neighborhoods they serve, spurring job creation, fostering innovation and fueling their customers’ dreams in communities throughout America. For more information, visit ICBA’s website at www.icba.org.