People want to support local banks, but in an uncertain economy, no one wants to start a relationship that may not last, so we do our due diligence to make sure we only recommend the best local banks.”
Irvine, CA (PRWEB) July 28, 2010
Bestlocalbanks.com is an innovative and much-needed service to help consumers and small businesses find safe, community banks headquartered in California.
Local banks have long played a critical role for communities in California and this has never been more important than in today’s unprecedented times. A February 2010 Zogby Interactive poll found that 32 percent of respondents have considered moving some or all of their banking from a large national bank to a community bank or credit union because they are unhappy with the policies or behavior of large national banks.
Bryan Greenwood, Founder & CEO, says the inspiration for Best Local Banks began when he made a transition in his career from big bank to small bank. “I expected changes, but I was still surprised by the differences. Small banks are more connected to their clients and their communities. They depend of them and it shows. Statistically, small banks have less deposits than big banks, yet they lend more to local businesses.”
Best Local Banks isn’t the only one touting the benefits of local banking. Around the same time that bestlocalbanks.com was launched, a grassroots movement called “Move Your Money” began urging the public to support local banks. Move Your Money reminds everyone that local banks focus attention on the needs of communities and businesses. Conversely, many of the nation’s mega banks are structured to place a high priority on serving large corporations and investment banking activities on Wall Street.
“Community banks, compared to large national banks, tend to be very close to their clients. We provide a service, we’re not just bankers, we are often business advisers. We help them with strategic planning, with growing their businesses; it’s very much a hands on kind of approach,” explains Brian Kelley, CEO of Pacific Commerce Bank in Los Angeles.
Best Local Bank’s bank safety ratings are similar to Bankrate and Bauer Financial, except more focused. “We don’t showcase banks that may not be around next quarter,” explains Mr. Greenwood. “People want to support local banks, but in an uncertain economy, no one wants to start a relationship that may not last, so we do our due diligence to make sure we only recommend the best local banks.”
BestLocalBanks.com is a banking search engine providing a simplified way to search bank ratings and certificate of deposit (CD), money market and savings rates (http://bestlocalbanks.com) at California-headquartered banks. Users can search rates using criteria such as deposit size and product types. Small business owners and commercial real estate investors can also request loans through a free service that connects borrowers with banks that are capable and eager to lend. The company was founded by financial services veterans and is based in Newport Beach, California. To learn more about Best Local Banks, visit http://bestlocalbanks.com.