Community banks serve local markets for the most part, providing traditional bank services and building strong connections and relationships with customers, whether individuals, small businesses or farmers. By understanding the local economy, having specialized knowledge of the areas the bank serves and providing for the specific needs of the customers, few businesses are better positioned to serve the community.

Local banks have survived and been very resilient through many hard times. Community banks provide economic stability and personalized service during periods of economic hardship and amid changing consumer needs and business behaviors. However, community banks must also keep up with and adapt to industry trends, customer needs and new technologies.

Community banks are important to economic growth and stability in the communities they serve. They have a vested interest in the success of their communities and customers. Local loans are funded with local deposits, thereby further strengthening the community — truly, a “neighbor helping neighbor” situation.

Additionally, a community bank can support customers through financial education initiatives. These initiatives help empower customers to make informed financial decisions, preventing financial crises, fraud, scams, etc. They also promote connection within the community, which is furthered by bank employees being involved in local groups and volunteering.

By discussing specific financial options with individual customers — including the use of money, appropriate steps to managing finances, awareness of the threat of fraud and options for building financial freedom — the bank is contributing to community growth and the overall stability of the community. Supporting local initiatives, going to schools to discuss banking or using social media can also help inform and empower the public.

The communities we serve are vital to the purpose and vision of the bank, just as bank employees are important to the community, as they patronize local businesses, have kids in school, serve various roles in the school and attend church.

In short, there is almost a family connection between the community and the bank — they go hand in hand. In the end, the best community banks don’t just serve their community — they’re part of it.