Is your checking account hurting your community? If you’re still using a mega bank, then your checking account could be doing more harm than you realize. The truth is that mega banks can destroy local communities in the same way that superstores hurt local businesses. These banks push smaller banks out of the picture, and that’s a shame because mega banks just can’t provide what local banks provide. If you’re not using a local bank, here’s what you’re missing.
Community Economic Support
Community banks support your local economy. They employ local people, approve loans for local businesses, and invest in local culture. Local banks help their communities thrive. Mega banks don’t do that. When mega banks roll into town, they take jobs away from community members. They often don’t approve the same loans that a local bank would approve. Overall, mega bank owners just don’t care about your local economy. They care about their own bottom line.
Community Social Support
When community banks thrive, they get to support their communities in other ways, too. A mega bank won’t support the local softball team or library, for example. They won’t offer financial classes or seminars. Community banks, on the other hand, offer this kind of support all the time.
Care for the Community
Overall, community banks operate from a point of care. As members of your community, they want to see that community succeed. All their decisions and products help the community in one way or another. Furthermore, this care results in better customer service and more personalization than you’ll get from a mega bank.
Rewards and Peace of Mind
Community banks are also more likely to offer rewards for their checking account customers, and they usually come with few to no fees. Big banks don’t mind using hidden fees, and since they already have clients from all over the country, they don’t care as much about providing rewards. Smaller banks are far more likely to reward your loyalty.
Switch to a Community Bank
Do you want to support your community? Are you ready to switch to a community bank? Then Bundlefi is here to help. We connect people and businesses to small banks and credit unions. This way, you can find the best bank for your needs while still supporting your community. Check out Bundlefi today to get started.