Community Banking Misconceptions

by Jhonell Campbell 5. January 2016

Small Bank vs. Large Bank

I recently came across an article that described some downfalls of banking local. As someone who has been a customer of a local and national bank, I asked myself, are there really pitfalls to banking local?

Limited Accessibility

Local banks may not have a branch on every city corner but your funds are accessible.  Most services offered within the branch are now offered through ATMs, mobile and online banking. The shift to mobile and online banking has made the need for abundant branch locations nearly obsolete. Additionally, some local banks join national ATM networks and are willing to reimburse ATMs fees so that customers are able to access their funds nationwide.

Standard Banking Hours

The infamous “banker’s hours” are a thing of the past. To meet the demands of busy professionals, banks (local and large) have implemented extended weekday hours and added weekend hours. Banks have also increased the accessibility of products and services through online and mobile banking. Customers are now able to deposit checks, check balances and make transfers from the comfort of their home. 

Fewer Financial Products and Services

I recently did some research into products offered by various banks and found that the rates and product options offered by local banks were comparable (and even better in some instances) to those offered by larger banks. Another thing to consider is that local banks are often able to make more flexible loan decisions because of their knowledge of the local market and customer base. There is a general misconception that community banks lag behind in technology services. While big banks are thought to be pioneers in mobile deposit and online banking, it did not take long for community banks to implement these services. Most local and large banks now offer similar online and mobile services such as mobile banking, Bill Pay, mobile deposit and money transfer services

Big Banks are Safer

After the 2008 financial crisis, many people were understandably concerned about the security of their funds. However, the rationale that large banks have large funds therefore they provide more security is somewhat misguided. If your bank is a member of the FDIC, each depositor‘s funds are insured for up to $250,000. 

So why should you bank local? Well for me, banking locally means that I am able to support my local economy with some of the same products, services and convenience associated with banking at larger banks. 

'Twas the Night Before a Bawlmer Christmas

by Erica Starr 24. December 2015

On this night before Christmas here in good ol Bawlmer, Maryland, we present to you, 'Twas the Night Before a Bawlmer Christmas.

Merry Christmas, Bawlmer!

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Season's Greetings and Happy New Year!

by Erica Starr 23. December 2015

As we near the end of 2015, we'd like to give an extra special thank you to our valued customers and friends. Your continued loyalty and support drives us to deliver the best personal service possible.

We wish you, your families and your friends a wonderful holiday season. Enjoy the eCard below, made especially for you!


Having trouble viewing this eCard on your mobile device? Click here to view it on YouTube.



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