Why Should You Bank Local?
When it comes to supporting your community, many people understand the importance of shopping locally. By doing so, you're contributing to the local economy and helping to create jobs.
Have you ever considered the benefits of banking locally? Local credit unions and community banks make up over 96% of all banks in the United States, and there are many reasons why choosing to bank with them is a smart move. Here are just a few:
#1: Local Banking Is Personal Banking
When you bank with a local credit union or community bank, you're not just a number. Your local banker knows you by name and provides a higher level of customer service with a personal touch. Whenever you have a question about your checking or savings account, feel comfortable knowing that the answer is only a phone call away.
Plus, when you bank at a local credit union, you become a part-owner and get to participate in the decision-making process!
BluCurrent Credit Union is proud to serve our friends and neighbors living and working in Southwest Missouri.
#2: Get Better Financial Terms When You Bank Local
Local credit unions and community banks often offer better financial terms, which can save you money in the long run! Here are a few advantages to consider:
- Lower or no fees. About 63% of small credit unions and banks offer free checking. Local credit unions and banks typically carry lower overdraft fees and lower balance requirements than large banks.
- Flexible lending. When it's time to take out a loan for that new home or car, check out local credit unions or banks for lower interest rates.
- Commercial lending advantages. Ready to start that small business? Local credit unions and banks usually offer a quicker process for approving small business loans and other services -- so business owners can open their doors sooner. In addition, your local credit union or bank rep understands how local market conditions might affect your business, compared to a representative at a larger bank.
#3: Support Your Local Community
Local banking can help support your community in more ways than one. Local credit unions and community banks employ hundreds of thousands of Americans and help to fund small businesses, which employ over half of the private workforce in the U.S.
Plus, they actively support local schools and community organizations in their efforts to improve the quality of life for all residents.
Banking locally is important because it allows you to keep your investment local, supporting businesses and driving economic growth. You can help create a stronger and more resilient local economy by choosing to bank with a local institution.
#4: Get National Bank Perks without National Bank Bureaucracy
Many local institutions offer the same convenient perks as big banks, including online banking and mobile banking apps.
BluCurrent Credit Union gives you access to thousands of shared branches and ATM locations nationwide and lets you manage your money on the go with a free mobile banking app. Plus, you can eliminate the need for paper bank statements and pay all your bills electronically with Online Banking services.
In summary, there are many reasons why banking local is a great idea. By choosing a local credit union or community bank, you're getting personalized service, better financial terms, and supporting your community at the same time.
If you have any questions about how local banking could benefit you, don't hesitate to reach out to our team at BluCurrent Credit Union!