Big benefits to banking local

May 02, 2023
A UBT sign outside of a branch location

There are so many banking options these days. Everywhere you go, banks of all sizes and forms are vying for your business. It seems everyone from national names to insurance companies to unknown online banks are offering checking and savings products, claiming unparalleled accounts, services, and advantages. It’s (almost) enough to make you overlook the hometown banks whose names you’ve grown up hearing. However, we invite you to give strong consideration when it comes to banking locally, as it has advantages of its own — like top-notch service from people who truly care. Read on, and we’ll give you some really great reasons to think about banking in your own backyard.

Personalized service

Want to feel like more than an account number or the sum of your deposit dollars? Try banking close to home. Relationships are everything to your community banker, so you can expect a high level of customer support. Local banks value each of their customers as individuals, often greeting them by name and asking about their families and lives. They’ll go above and beyond to ensure a pleasurable banking experience, listening to their customers and taking the time to give them the attention they need.

Big bank benefits

Most community financial institutions offer the same accounts, products, and services as their big-bank counterparts, including online and mobile banking. And often, local banks are the champion of unique “extras” — special programs tailored to specific needs of their community’s customer base, such as students, retirees, or professionals. Looking for a cutting-edge mobile app, a great credit card, or business services? Start with your community bank. They have the same capabilities as a large bank to deliver top-notch products and services, but because of the local structure, are often able to be more accessible, as well as more transparent with fees and features.

Homegrown decisions

Choosing local means that those responsible for making key decisions that are relevant to your financial well-being are local, too. Translation: Community banks are able to deliver faster decisions and turnaround times with real people right down the street. Often, local banks are not confined entirely by stringent policy, affording them a bit of flexibility when making decisions. And as your goals and priorities evolve, they deserve a dynamic team of experts — folks with deep experience in investment and wealth management, financial planning, estate planning, lending, and mortgages — who are as familiar with the local environment as they are with your specific financial situation. This places them in the position to work on your behalf, ensuring your financial management strategies revolve around your specific needs. This same philosophy applies to your business needs, with commercial lending and wealth management in that same community network (and often under the same roof — literally). 

Love of community

Local banks are part of the community, so they have a vested interest in its development and well-being. You’ll likely find a deep dedication and a commitment that goes way beyond showing support for local causes. Positively impacting the city or town in which its customers and employees live, work, and worship is going to be a priority for a community bank. From reinvesting profits to local causes to presenting dynamic philanthropic opportunities for employees to offering empowering financial education, your local bank is going to be focused on showing appreciation by making your community better, because it’s their community, too.

Economic support

Local banks anchor their communities regardless of the economic climate, investing in local businesses and the people who make up their community. By keeping your money local, your community bank is able to make more loans to people and businesses in your area. That means helping businesses and individuals stay afloat during tough fiscal times (think: global pandemic) — and during good times, reach their next financial goal, like relocation or expansion (new home or office building, anyone?). When money is flowing locally, it helps create a robust, stable economy, and the community stays strong.

Local jobs 

Local banks play a huge role in funding small businesses. Thanks to that financial TLC, more happy, successful businesses in your community means more local jobs and employment growth. That’s on top of all the folks your local bank employs. By having all their departments under one financial roof, in the same community or neighboring communities, and without corporate centers or outsourcing, local banks are able to hire your neighbors, which is good for both you and the economy.

Ready to give local banking a try?

UBT not only has a local presence, we have strong roots in the communities we serve and a culture of caring, with an approach that is anything but cookie cutter. More than 50 years of family ownership, along with local decision makers, allows UBT to be more flexible, accessible, and timely than other banks, with products and services we stand behind (our 4.9-star rated app is backed by five-star people!). And we know how important the health of the local economy is to you, as is giving back to the community. We invest 2% of our profits in the community annually and empower employees of all levels to be leaders in philanthropy by donating their time, talent, and treasure. This difference of priorities means a different way of doing business altogether. Let us help you get started on your UBT experience today!

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