At a time when some of the nation's "too big to fail" mega banks have been bailed out of financial difficulties while smaller banks are left to fend for themselves, an interesting trend has emerged: More and more people are turning to local community banks to do their part to limit the power of the big banks, and create a saner, more stable financial system.
The benifits of choosing a financial relationship with your local community bank are many:
Local community banks focus attention on the needs of local families and businesses, while many of the nation's megabanks are structured to place a priority on serving large corporations.
Unlike many larger banks that may take deposits in one state and lend in others, local community banks channel most of their loans to the neighborhoods where their depositors live and work, helping to keep local communities vibrant and growning.
Local community bank officers are generally accessible to their customers on-site. CEOs at larger banks are often headquartered in office suites, away from daily customer contact.
Local community bank employees are typically deeply involved in local community affairs. Larger bank officers will often be detached physically and emotionally from the communities where their branches are located.
Local community banking means faster turn-around time on loan decisions. Larger banks may have to wait for a loan approval committee to convene in another state before a decision can be made.
Because local community banks are themselves small businesses, they understand the needs of small-business owners. Their main concern is lending to small businesses, not corporate America.
Local community banks enjoy knowing their customers personally. The relationship a customer has with their local community banker feels more like a friendship than a business relationship. Customers feel like people, not numbers.
The American National Bank is Beaver Dam's only local community bank. We've been your local community bank since 1891, and we will remain your local community bank. We would welcome the opportunity to meet you and discuss caring for all of your financial needs.