6 Services Offered through Community Banks

Author: BankFeeInsider.com     Monday, September 08, 2014 12:00 AM

With a recession in our rearview mirror and high hopes for both today and tomorrow, the economy is slowly but surely starting to improve. And now that our bank accounts are filling back up a bit, is there anywhere safe to keep this money? Is there anywhere that you can keep your money and do more with it than you ever imagined? Absolutely! You can keep it in a community bank.


Here's a quick glimpse at six valuable services offered through this type of financial institution.

Mobile Banking

Isn't it neat, and don't forget convenient, to have access to your bank information 24/7? And even better is the fact that you can keep all of this information tucked away in your pocket on your mobile phone. Community banks are really stepping up and improving their customer service more than ever before by offering mobile banking.

Personal Loans

Your car broke down and you have the money to pay for the repairs, but if you use those funds, you're going to squeeze yourself tight on making your mortgage payment. Is there anything you can do? Of course there is, and it involves securing a personal loan through a community bank. With a decent credit score and proof of income, you'll likely qualify for this type of loan.

Auto and Home Loans

Community banks understand the importance of owning both a vehicle and a home; this is why they strive to provide loans for these assets that are accompanied with extremely reasonable interest rates.

Convenient Access

In addition to mobile banking, community banks tend to partner with one another. This means that even if you're two towns over from your community bank, you can stop in at any bank that's part of the CU Service Centers network. You'll be able to deposit and withdraw funds as well as take advantage of many other services.

Business Loans

At one time, the percentage of community banks offering business loans was quite low. However, from 2006 to 2010, the percentage increased by almost 7%. In fact, about 30% of community banks now offer these loans because they want to see communities grow, and most importantly, they want to see their members succeed.

Student Loans

Community banks understand the importance of adults going to some type of post-secondary school and earning a degree/certification/diploma. And it's because of this that these banks are now offering student loans, helping those students who can't fully cover their school-related expenses with financial aid and/or scholarships.


The Takeaway

Community banks are growing in popularity, and it's clear to see why. By offering valuable services, members are benefiting more than ever by becoming a part of community banks.


Source: BFI