Not only does banking locally support small businesses (community banks fund more than 60% of small business loans and more than 80% of ag loans), but as a locally owned and operated business ourselves, we are part of the economic engines that, according to Forbes research, create 62 percent of new jobs annually. That’s powerful.
BCT receives deposits and distributes loans that feed into a self-sustaining micro-economy that keeps funds right here in our local neighborhoods. It is all part of a symbiotic relationship that community banks have with their communities. And the proceeds from those businesses employ local residents, funds municipalities, and continues the cycle of locally based economic growth.
If you need more proof just consider the community bank impact on local communities:
- Community banks outpace large banks in the average number of banks operating in both rural and urban markets by a 3:1 ratio.
- Community banks are preferred small business lenders, with an 81 percent net satisfaction score compared to 68 percent for large banks and just 43 percent for online lenders.
- Community banks operate in areas abandoned by others—serving as the only physical banking presence in nearly one in three U.S. counties.
But it is not just about stats. When clients contact BCT, they are greeted by our caring team members who are attuned to their needs and empowered to act on their behalf.
And when our employees log volunteer hours in support of fighting food-insecurity of local children or when BCT contributes to local community projects, we are working toward our goal of ensuring economic prosperity for the community we call home.
April is Community Banking Month, and we want to thank our clients for putting their trust in us for their banking needs. For our neighbors who may be considering a switch, please take a closer look at BCT to discover how we can help you realize your financial dreams.
At BCT, we pledge to never lose sight of providing an exceptional experience for our clients, whether in person, on the telephone, or digitally.
Remember, we are all in this together. Community banks like us are only successful if our clients and communities are, too. That’s why our focus on relationships over transactions has helped us thrive for more than 154 years. We know what it takes to create successful local economies. Join us in helping to build a more sustainable, vibrant economy here at home.
Contributed by: ICBA and BCT Communications