A Practical Guide to Weathering Market Volatility in 2024 with Your Local Community Bank

| November 20, 2023 | By

Although markets will fluctuate, community banks can remain your comforting constant. 

In other words: Are you looking for peace of mind, stability, and resilience in the face of increasing market volatility? Look no further than your friendly neighborhood community bank. 

Unlike larger financial institutions, community banks tend to offer more accessible, personalized guidance. When you, your family, and your business are stressed in the midst of economic storms, a bank that makes you feel seen, heard, and understood can make a huge difference in your mental and financial health.

Want more information? Here are just a few of the practical ways a community bank can help you thrive.

Diversifying Your Investment Portfolio with a Community Bank

Diversification refers to the act of spreading your investments around various types of asset classes to reduce your risk and stabilize your returns.

You might have heard of it as an investment strategy but could be unsure about how to get started (or whether it’s applicable to you). If you’re interested in diversification as a safeguard, our team can help you understand your options and support you as you build a financial buffer against the ebb and flow of an unpredictable economy.

How Community Banks Can Assist with Diversification

Your local community bank can use its deep understanding of local markets and individual customer needs to help you create a personalized and diversified portfolio. The team at your local bank will also have more time and bandwidth to walk you through the process, talk to you about your unique position, and answer any questions you may have.

However, the ways your community bank can support you in uncertain times go far beyond solid investment strategies.

Tailored Financial Solutions, Timed Perfectly for Your Peace of Mind

Your community bank can offer you a range of financial products to help you navigate market fluctuations wisely. These include:

  • Low-risk savings accounts: Flexible Money Market accounts and high-yield CDs can be precisely the safe haven you seek for your precious funds.

  • Customized loan solutions: Access the funds you need for business, home, or personal expenses under flexible terms that take into account the broader market context and individual customer needs.

  • Financial literacy and planning services: Understand your options and recalibrate your financial plans to ensure you’re in a good place to meet your challenges and capitalize on your opportunities.

But to get those benefits, it’s important to invest in a real relationship with your community bank—which starts with open, regular communication.

The Power of Regular Communication (And How to Get Started)

Your community bank has the resources and experience you need to weather market volatility as well as possible.

Through your community bank, you can benefit from:

Staying Informed in a Volatile Market

Your community bank professionals sift through financial news and constantly changing information, cut through the noise, and consider your specific context to offer you clear, relevant options.

Building Trust Through Communication

At your local bank, you should have options to communicate with banking professionals about the financial steps you’re taking. This can ensure you feel supported and informed at every stage of your unique financial journey—even if that journey takes a few unexpected twists and turns.

Capitalizing on Local Experience

Community banks have deep roots in their communities. This gives them a unique vantage point into your stressors and goals.

Think of it this way: They’re not only bankers—they’re neighbors. They understand your precise economic landscape. And they can use that information to tailor financial solutions that make sense for you.

Interested in fostering a high-quality relationship with your community bank? Here are some practices we’d recommend:

  1. Be proactive about checking in with your banker to see if they have any updates to share that could impact your financial strategy.

  2. Tell your banking team about your specific goals and concerns. That will help them provide relevant advice.

  3. Don’t be afraid to ask questions! High finance can be confusing even when it isn’t changing day by day, and you need to understand your options fully to feel comfortable proceeding with your financial plan. No question is too small—ask away!

Let’s Help You Thrive Financially–Regardless of Market Volatility

Market volatility is a natural part of the economic cycle. It happens, and it’ll happen again.

Community banks, with their personalized guidance, tailored solutions, and long-standing presence, are ideally positioned to help customers weather the ups and downs of the market. At BNC National Bank, we’re proud to be ready to guide you through volatile market conditions.

Interested in learning more? Check out our Guide to Inflation to learn more about ways to protect your assets and your future.

It's time to feel more financially resilient.