You Have the Power (To Reinvest in Your Community)
By: Aaron Kness, President/CEO
Reinvesting in your community is a great idea, but how does one put idea that into action? That’s a question I’m always happy to answer.
You may not realize it, but where you deposit your hard-earned money matters. Community banks like Iowa State Bank fund more than 60% of small business loans and 80% of agricultural loans in the US. Choosing a financial institution that is based in your community supports the success and expansion of local businesses and farms. It also helps create jobs and fuel the local economic engine.
Doing business with a community bank is an easy way to make a powerful impact. Like most community banks, Iowa State Bank accepts deposits and provides loans which feed into a self-sustaining micro-economy. Funds on deposit with Iowa State Bank remain in Southeast Iowa and are re-deployed for the betterment of all stakeholders. By comparison, non-local competitors take local deposits and generally deploy them wherever they can obtain the highest return, greatly diminishing their impact.
In addition to reinvesting dollars into the local economy, community bankers donate and log countless volunteer hours in support of local charities and non-profits. For example, each year a significant portion of Iowa State Bank’s earnings are contributed to worthy organizations such as arts and convention centers, local school districts and food pantries. We give back generously and are focused on ensuring economic prosperity for the communities we call home.
April is “Community Banking Month”, and I want to thank our customers for putting their trust in us for their financial needs. They are the reason Iowa State Bank is able to consistently reinvest and make a positive impact in the markets it serves. For anyone who may be considering a banking change, I encourage you to take a closer look at Iowa State Bank and discover how you can reinvest in your community by choosing the right financial institution. You have the power!