Three Reasons Why Your Money is Safe with Community Banks

April 25, 2023

With the recent news of failures at risky, big banks, you may be wondering if your money is truly safe. We're here to share that when you choose to #BankLocally with a community bank, your money is in the right hands — and more importantly, in the hands of a community banker who cares about you and your financial well-being for the long haul.

1. Community banks have consistently served their communities.

Community banks have been a reliable banking option for Americans for more than a century. In fact, in one in three U.S. counties, community banks make up the only physical banking presence.

From recessions to world-altering events, community banks have weathered every economic cycle, and their value is proven in the ups and downs. For example, during the pandemic, community banks sprang into action to help small businesses and members of the community with Paycheck Protection Program loans and other financial support. As small businesses themselves, community banks have a personal understanding of the unique issues facing the community they serve and provide personalized care and attention.

Community banks have demonstrated time and time again that they're here for you through it all.

2. Your community banker is accessible and ready to help.

Having access to your banker is imperative through the unknowns. When you bank locally, the CEO of your community bank can be the first line of defense. Instead of picking up the phone and talking to an automated voice messaging service or chatting with an online bot, you can directly find your banker's number and call when you need help or have a question.

Community bankers pick up because you're more than just an account number to them—you're a member of their banking family.

3. Safety and soundness are the bread and butter of community banks.

You can bank with confidence at your local community bank because no one has ever lost a dime of FDIC-insured funds. Community banks hold FDIC deposit insurance, which covers each depositor's account, dollar-for-dollar, up to the insurance limit ($250,000). If your deposits exceed that, community bankers are there to advise you.

With a time-tested business model, community banks maintain diversified portfolios rooted in building relationships and earning long-term trust with the customers and community they serve.

It's simple and straightforward: Community banks invest in the community and in you, and that’s something you can feel safe, sound and secure about for the long haul.