What do you think of when you hear the phrase, “a community bank?” Friendly faces? Top-notch service? Whether you use a community bank or not, most associate these concepts with them. But have you ever thought about what a community bank really means or does? They are more than just a trustworthy and friendly place to bank — they are constantly working to make sure your neighborhood is thriving. From donations to sponsorships, to participating in and hosting events that better serve their areas, community banks and their employees are reinvesting in their neighborhoods with purpose. They go above and beyond to give back to their clients and communities through their actions and values.
You may be wondering, how do they stand out from and compete with big, national banks? By building real relationships with their clients to better understand their needs as well as purposefully working to make their communities better places. This sounds like a simple task, but when you dig deeper, you find that delivering personalized and meaningful service both in and out of the branch is not something all banks can say they are proficient in.
Familiarity is the foundation
Clients deeply value the familiar faces and consistent service they associate with community banks. Clients can expect to see their bankers in the branch on a consistent basis. Many are even aware of their vacations, birthdays or family events. That type of relationship provides a sense of security that big banks just can’t match. The relationship goes the opposite way as well — bankers are immensely supportive of their clients. Whether they are local business owners or long-time clients turned friends, bankers know them well. They show support by frequenting client’s restaurants, shopping in their stores or simply chatting with them when they frequent the branch.
Rather than working around the bank’s schedule, community bankers work around the clients’ schedule. They are willing to be available when clients need them, meaning they will meet outside of normal business hours, whenever and wherever is most convenient for the client, making their experience as easy and stress free as possible. Community bankers think outside of the box in order to best suit their clients’ needs. They don’t do this because it’s their job, they do this because they care. Mutual respect and loyal relationships are at the top of the long list of community banks’ values.
Participating with purpose
Reinvesting in their neighborhoods is also at the core of community banks. They work in and out of the bank to do so, through their lending efforts as well as volunteer work. When COVID-19 hit, small businesses were in desperate need of help. That’s where Paycheck Protection Program loans came in and community banks were at the forefront, providing lending services to those in need. Lenders in a community bank are hands on and aware of their clients’ situations, allowing them to better understand the circumstances if an issue comes up. In addition to helping individual clients and businesses, they are working to better the community. Sponsoring the local high school sports teams creates a better environment for the kids in the area. Donating to local food pantries supports those in need. Partnering with charity organizations spreads awareness about important causes. These are all activities that community banks are dedicated to doing in order to make their neighborhoods great places to live for years to come. Don’t be fooled, none of these are done for bragging rights, but rather are done so in a purposeful way that is engaging for all who participate — staff members, clients and locals alike. Creating a shared experience brings value to those who partake, which leads to trust.
Much more than money
Ask yourself, is your banking experience such as that described? If so, you understand just how important those connections and values are. If not, do you wish you could say the opposite? While a bank’s main purpose is to provide financial services to those in need of them, community banks do much more than handle money. By providing a welcoming and trustworthy banking experience through meaningful relationships and working to better their neighborhoods, community banks are the best future for banking.
At Royal Banks of Missouri, investing in our communities is our first priority. For nearly 60 years, Royal Banks of Missouri has proudly served the St. Louis community. We are locally owned and offer a full range of banking services to individuals and business clients in St. Louis and Illinois.
