Community Banks Power Local Communities

Community Banks Power Local Communities

In honor of Community Banking Month in April, F & M Community Bank and the Independent Community Bankers of America (ICBA) are highlighting community bank efforts to power local communities and fuel economic prosperity for Americans nationwide.

“At F & M Community Bank we apply personalized banking solutions and have a positive impact on the community through contributing to vital causes,” Dan Christianson, President at F & M Community Bank said. “As a financial provider rooted in the community, we help residents reach their financial goals and invite you to visit our branches to find out how F & M can support your unique banking needs no matter what stage of the financial journey you are on.”

Collectively, community banks fund more than 60% of all small-business loans and more than 80% of agriculture loans nationwide and contribute tax dollars that help maintain local municipalities. Community banks:

• Are favored by small businesses,earning a 74% net satisfaction score compared to 53% for large banks, 42% for finance companies and 15% for online lenders. 
• Are committed lenders with loan growth that has outpaced non-community banks for a decade.
• Offer high-touch, high-tech service, providing modern-day conveniences and technical capabilities while maintaining the personal service for which they are known.
• Have a track record in helping underserved Americans by providing greater flexibility to low-income and minority borrowers. Community banks serve 93% of majority-minority communities and 96% of low-income designated counties.
• Give back to their communities. Civic service is a way of life for community bankers as reflected in ICBA’s National Community Bank Service Awards.

“Community banks cater to the distinct financing needs of their customers as a cornerstone of their business philosophy, creating meaningful, and long-lasting relationships,” ICBA President and CEO Rebeca Romero Rainey said. “ICBA takes pride in representing these community-centric servants and prioritize championing their dedication to empower local communities.”

For more facts about community banks, click here. Follow the ICBA Community Banking Month conversation on social media with the #BankLocally and #CommunityBankingMonth hashtags.