The banking business is one of the most competitive industries in the world. Banks try to position themselves with the latest offers and services that grab the public’s attention. It’s a cut throat business – they all want your business. Whether it’s fluff or real, they throw everything but the kitchen sink at you to entice you to bite.
Most people think large corporate banks when they are looking for an institution to hold their money. But a bank can be much more than that if you need it to be. They can provide loans with low interest rates, give rewards for checking accounts and offer needed financial solutions for everything from remortgaging your home to investing in the future college fund for your kids.
A great option for banking lies in the local smaller bank. These institutions may have a handful of locations in the surrounding cities that make it perfect for the retail banker.
Let’s face it, many of us rarely ever even visit a bank anymore. With the invention of the debit card and automatic paycheck deposit, there is hardly ever a reason to walk into a bank. There is less and less of a need for the big bank with locations on every street corner.
For instance, if you live in Canton there is most certainly a big corporate bank or two in that city. Choosing the smaller local Canton bank is not a disadvantage. In banking, small should not be interpreted as weaker or less able to meet your personal needs. Actually, the smaller bank may be more willing to go “out of their way” and “above and beyond” to help you. Remember – the local bank needs your business more than the big bank.
Choosing a smaller local bank also helps the local economy. Local banks love small businesses and want to work with them because they are small, and have a better understanding of the struggles of small business. So when you are looking to open a checking or savings account, and are trying to choose a bank – think local, think smaller bank. You’ll be glad you did.
