Community banks help area families achieve financial stability while also driving small business lending in their communities—all of which helps their local economy and community to thrive
Washington, DC (PRWEB) April 01, 2013
The Independent Community Bankers of America® (ICBA) and its nearly 5,000 community bank members are kicking off ICBA Community Banking Month by encouraging small business owners and consumers to bank locally with a community bank. By doing so, customers will make a hometown investment they can be proud of because community banks put local deposits back to work right where it belongs—in the community.
“Community banks help area families achieve financial stability while also driving small business lending in their communities—all of which helps their local economy and community to thrive,” said Bill Loving, ICBA chairman and president and CEO of Pendleton Community Bank in Franklin, W.Va. “Throughout the month of April, our goal is to celebrate the unique role that community banks serve in our nation’s economic system while helping to educate consumers and small business owners about the benefits of banking locally with their community bank.”
By driving local economies and creating local jobs, community banks are an integral part of our nation’s financial system. With nearly 5,000 members, representing more than 24,000 locations nationwide and employing 300,000 Americans, ICBA members hold $1.3 trillion in assets, $1.1 trillion in deposits, and $800 billion in loans to consumers, small businesses and the agricultural community. There are almost 7,000 community banks, including commercial banks, thrifts, stock and mutual savings institutions, with more than 50,000 locations throughout the United States. Assets may range from less than $10 million to $10 billion or more. Community banks constitute 96.8 percent of all banks.
“Community banks are relationship lenders that thrive when their customers and communities do the same. Taking care of customers and looking out for the best interest of local communities is the community banking business model,” said Loving.
To find your community bank, visit ICBA’s Community Bank Locator at http://www.banklocally.org. Simply type in your ZIP code and you will see community banks in your area. Customers can also download the free ICBA bank locator apps on their iPhone, Android or BlackBerry devices.
The Independent Community Bankers of America®, the nation’s voice for nearly 7,000 community banks of all sizes and charter types, is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education and high-quality products and services. For more information, visit http://www.icba.org.
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