You probably have a favorite small business: A local restaurant, the neighborhood coffee shop, or the dentist you’ve been going to all your life. Have you ever thought about your bank in the same way?
Big banks have positives, of course, but make sure you aren’t missing out on the perks of a community bank like Fidelity Federal. Let’s walk through some of the biggest reasons people choose their banks — and why choosing a smaller bank can be your best bet.
Reasons to Consider a Community Bank
Personalized Service
Imagine this: You’re checking your bank activity on your big bank’s financial services app when you notice a charge that doesn’t look right. You decide it’s best to dispute it, but when you call, you’re placed on hold for ages. Or, you can take your chances with the bank’s website chatbot…
Now, imagine calling your community bank, and a friendly voice answers the phone. You’ve actually interacted with this person before — maybe you’ve even seen them at the grocery store in town. They help you solve your problem right away, making the entire experience smooth and rewarding.
That’s the community bank difference: Real people who really know you. Whether you’re a college student, just starting out with a new job, or thinking about buying a new home for your growing family, we’re here to learn about your needs and help every step of the way.
Community Reinvestment
Local banks directly reinvest in their communities by providing small businesses with the funding and support they need to grow. Whether it’s a business loan to get a new idea off the ground or something to help a business scale, community banks are here to see their neighbors succeed. That also means that your money — whether through deposits or loans — is being reinvested in local efforts as well.
Community banks give back in other ways, too. For example, financial education for students is an important way banks can help kids and teenagers learn important financial skills such as budgeting, earning, saving, borrowing, investing and managing personal finances.
Our Fidelity Federal financial literacy team members regularly visit local school classrooms to facilitate discussions about financial wellness. We provide real-life examples and experiences to engage students in various age-appropriate financial topics.
Additionally, Fidelity Federal gives back to local charities regularly through our FidFed Cares program. Each month, one of our team members selects a nonprofit in Delaware County that matters to them, and we make a donation.
Big banks may sometimes do these things, too, but it’s challenging to compete with the level of community involvement that locally owned banks can achieve.
Better Interest Rates
If you’re searching for the best interest rates on a loan, check out a community bank first.
Smaller banks that underwrite their own loans can typically offer better terms than larger banks, for a few reasons:
- Less overhead
- More control over rates in local markets
- More desire to offer better rates for customers
Convenience and Support
Feel like you need to switch to a big bank if you’re away from home — for example, attending college or commuting to the city to work? Think again! Small banks often offer the same convenience features as big banks.
Fidelity Federal is part of the Allpoint® ATM (55,000 locations nationwide) and Accel® ATM networks. That means you’ll always have access to your money whenever and wherever you need it.
We also offer the same convenient online features as big banks, including:
- Banking app to track all of your accounts in one place
- Online bill pay
- Mobile deposit
- And more!
.
Ready to Ditch the Big Bank?
If you’re ready to switch to a community bank that will get to know you personally, we’re here to make the process fast and easy! It’s easy to open an account online in minutes.
