What Services Do Community Banks Offer?
Community banks may not get as much attention as the megabanks, but they play a huge role in the US economy. Do you need banking services? Then consider using a community bank. Let’s look at what community banks have to offer.
Community Banking Services
Some people assume that big banks have more to offer than small ones, but that’s just not the case. Community banks offer all the same services that megabanks offer, including:
● Checking and savings accounts
● CDs and other savings opportunities
● Personal loans
● Business loans
● ATM usage
Many community banks also offer online banking so that you can take your banking with you anywhere.
Above and Beyond
In addition to all the usual services, community banks offer things that big banks just can’t offer. Take a look at the examples below.
When hackers steal personal information from banks, which banks do they target? Megabanks. Hackers target these banks because they’re easy targets with high-profile clients. Community banks don’t get targeted nearly as often, and because these banks have fewer clients, they can keep a tighter rein on their clients’ personal information security.
Investment in the Community
You know why it’s important to shop local. Shopping local benefits the local economy, helps your friends and neighbors, and puts money back into your community. Local banking has the same benefits as local shopping. Local banks invest in their communities by providing loans and other services for their neighborhoods. When you use a community bank, you help ensure that they can keep up this work.
Higher Chances of Approval
Speaking of loans, you have a better chance of getting approved for a loan at a community bank than at a megabank. Community banks offer all the same loans as megabanks, including business loans, personal loans, and car loans. At a megabank, your credit score matters more than anything else. Megabanks see loans as a way to make money, while community banks see loans as a way to help community members. That’s why community banks will consider other factors besides just a credit score when they decide whether or not to approve your loan request.
Find Your Community Bank
Community banks offer a wide variety of services, and those services come with benefits that you can’t find at a megabank. Are you ready to find a community bank and start taking advantage of these services? The choice doesn’t have to be tough. Just use Bundlefi to compare banks and credit unions. With Bundlefi, you can get the most out of your options.