ISB Blog

Banking is Built on Trust

Few relationships in our lives have as many ups and downs as our finances. When we’re up, we’re really up. And when we’re down, we can be, well, very down. Few things cause us as much stress as finance, and yet few things in the world are as manageable as our own finances. Budgeting, saving, responsibility, and planning are all crucial factors to keeping us healthy, wealthy, and thriving. But there’s one more ingredient, a real secret sauce:

A banking partner we can trust.

This isn’t a small thing. According to recent surveys, people’s trust in banking relationships is strong. Banks have a tremendous presence in our lives, and more importantly, in our communities. Sometimes the best option is the local community bank that looks out for you while also looking out for the town you live in. It can be difficult (or simply not desired) by larger bank chains to invest in their communities and locations, and even more difficult for them to retain the personal touch that a smaller community bank can. 

With banking built on trust, it’s imperative to find a banking partner you can trust. 

What Makes a Great Bank?

No one wants to have their calls or emails blown off, questions unanswered, or have a representative who neither knows nor cares about the personal circumstances for each client. The average person wants an experience built on communication, reliability, and efficiency. It’s crucial for any bank to help their clients see the best options for themselves and help them discover ways to initiate their brighter future while earning their continuing loyalty.

A great bank supports you, knows your name, and presents you with tailored financial options that just feel right. 

A local bank offers this in spades. 

What Are the Benefits of Partnering with a Local Bank?

Local community banks offer many advantages over their larger, national competitors:

• Local banks are part of their communities. The health of the community directly impacts and influences them. They don’t want to overextend themselves for a bottom line, and it’s important to them to have their bank deposits covered by the FDIC – they are directly responsible for the financial health of their communities. 

• Local banks know you. They can verify you and your choices based on what they know and who they know and build trust through close social connections.

• A local bank can provide options more tailored to your situation and needs. They have the time and have built the relationship and want to listen to what you have to say. 

• Security. Many larger banks have uncertain data chains or lack transparency with their lending or loaning programs. A local bank provides great security and greater transparency, so you know where your money is going and how your data is being used. 

• They care. Of all the things listed, this is the most important. A financial relationship built on trust can only succeed where both parties are motivated and care equally about the outcome.

How to Have a Great Banking Partnership

For a great banking partnership, both sides must be honest, open, and responsible. Choosing a local bank that’s right for you entails many things, from looking at online reviews, to asking locals, to chatting with friends and neighbors, and importantly, meeting the bank and its representatives themselves. Make sure the individual is someone you can be honest with and is someone you care to take along on your journey. 

It can take time to find the community bank that’s the correct fit, but it’s worth it. Shop around, as needed, to find the local banking partner that’s right for you. Like with most things in life, when it’s right, you’ll know.