How do you answer your friends and relatives when they ask, “What makes your bank so special?” Do you take pride in the time and resources that you give back to the communities you serve? When Occupy Wall Street or any one of a dozen other Occupy groups attacks the “banking” industry, are they referring to your community bank? After all, what is a community bank anyway?
People pose these questions every day. Unfortunately, the answers to these questions aren’t always clear. What is clear is that there is mass misconception about the definition of a community bank. We’ve seen many articles this past year advising the public that the best community bank option for consumers is a credit union. When you’re done gasping and writhing with anger, take a moment and consider the reason for the confusion.
Read the full article in January’s issue of Transactions Magazine. Not a subscriber? Call PACB at 717-231-7447 to start receiving the magazine.