Community banks build better communities
The Independent Community Bankers of America® (ICBA) and Traditions Bank are reminding consumers: Where you choose to bank matters.
“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 Chairman Timothy Zimmerman, CEO of Standard Bank of Monroeville, Pa. “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 startups—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 Traditions Bank want consumers to know that they have a choice and know the following:
- Community banks respect and honor their community ties. Community banks and local communities have symbiotic relationships—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 12 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 Community Bank Service Awards.
The Independent Community Bankers of America®, the nation’s voice for nearly 5,700 community banks of all sizes and charter types, is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education and high-quality products and services. For more information, visit ICBA’s website at www.icba.org.