When was the last time you were genuinely excited to go to your bank?
Can you remember the last time you were certain that your bank had your back or would go the extra mile to give you the service and attention you need?
If it’s been a while, we hear that. Banking can be stressful.
It doesn’t have to be. Partnering with the right community bank can make all the difference. For example, suppose you’re dealing with real-life stuff like mortgages, student loans, and saving up for milestones. You need to work with a community bank ready to help you meet these challenges confidently.
Wondering how to find the right bank in your area? Here’s why it’s worth making the switch—and here are the things you’ll want to look out for.
What’s a “Community Bank Near Me”?
There are several different ways you could define a community bank. The FDIC defines them by their size: Community banks are often on the smaller side, with less than $10 billion in assets. Although that may be one way to categorize a community bank, we find that a little vague.
We like to think of a community bank as one that supports its local community.
At a community bank, you’ll benefit from deep expertise and interest in your specific location. You’ll likely form a closer relationship with your banker and enjoy more personal attention with your banker than you might at a larger institution. Community banks may also be better positioned to fuel local businesses with needed credit, which may have more stringent requirements for approval.
Community banks can also be more interested in giving back to their community, investing in local initiatives, or assisting with community service.
Want to Know What a Good “Community Bank Near Me” Looks Like? Here’s What to Ask
Keep these questions in mind when you’re looking for a community bank:
1. What types of amenities and services does your community bank have? How do they measure up to what you’d experience at a larger bank?
While looking for a more personal feel, you need practical resources like helpful business hours and an updated, easy-to-use website.
2. What types of accounts does your community bank offer?
Look for checking accounts with competitive interest rates and diversified ways to save up for your goals such as savings accounts, IRAs, and more.
3. Does your community bank use current digital tools to manage finances?
The ability to bank on the go is essential, so make sure your community bank’s mobile banking solutions feel updated and intuitive.
4. How does your community bank help set clients up for a successful life path?
Will you have access to financial advisors who can help you leverage all the resources your bank has to offer? Do they seem excited to share their expertise—and do you feel you can trust your community bank’s team with your family’s goals?
5. How does your community bank protect your assets?
Don’t be afraid to ask about insurance or what might happen in a financial worst-case scenario. (After all, one of the reasons you’re working with a bank is security; ask the questions that will put your mind at ease.)
6. What type of fee structures does your community bank have?
You need to know how expensive it will be to work with your bank upfront! Ask about overdraft fees, maintenance fees, costs for financial consulting, and more.
Bonus: Ask About These Services for the Best “Community Bank Near Me” Experience Possible
When you’re partnering with a community bank, you need to know that whatever your financial future holds, your bank will be there to provide practical support. As you’re researching community banks near you, ask banking representatives about these valuable resources:
Local Bank Business Loans
These loans can help boost the local economy by propping up small businesses in your area. In addition, community banks can often provide ultra-targeted support, because they know the area and are invested in its success.
Personal Loans
Whether you need support buying the home of your dreams or helping get your kids started on their own path to success, your local community bank can partner with you to make good things happen.
Investment Services
Interested in starting your retirement nest egg or putting aside smart savings that you can access before you retire? The experts at your community bank can help you form savings, spending, and investment strategies to help you meet your unique goals.
As a community bank ready to provide these services, BNC will be there for whatever you need over the long haul. It’s just part of our commitment to making banking work for you!
Our Community Bank Is Excited to Help You Reach Your Financial Goals
Need help finding a community bank near you? Want to work with a banking team that treats you like family and is there to help you as you support yours?
BNC is proud to be a friendly, accessible, and comprehensive resource for parents and families who need practical financial planning. Reach out to our team today to learn more about how we’re able to help you succeed!
