Local Banks Have More to Offer Local Customers
As a resident of the Louisville region, you’re committed to the growth and vibrancy of your community. When you shop for a mortgage, business loan, investment account or even checking and savings options, shouldn’t you expect your bank to share that commitment?
While a national bank is focused on big profits, a local bank is focused on serving the financial needs of families and businesses in their backyard. Unlike a larger bank that takes deposits in your area then lends to customers across the country, a local bank’s deposits benefit the neighborhoods where their customers live, work and play.
Local banks treat customers like people, not numbers. They have the flexibility and willingness to consider intangible factors when approving a loan, such as individual circumstances, family or business history and discretionary spending. They understand issues that can contribute to lower credit scores, and they can be less rigid in their requirements. National banks’ lending parameters are very strict and often focus solely on credit scores.
Building a relationship with a local bank means you will have a face-to-face relationship with your banker. You’ll have direct access to both associates and senior officers. A local bank’s people live in your community and truly understand local needs. This also means that decision-making is done locally, and therefore happens much faster. Big banks often leave the decisions to loan-approval committees in another state. A local bank is also more willing to increase your financing as your needs grow.
You can get the same services offered at a national bank — everything from online bill paying to debit and credit cards — all managed locally. Fees and interest rates can be obtained at more understandable terms on credit cards and other loans.
The success of local banks is tied to the prosperity of their local communities. The more the community flourishes, the more the bank benefits. This is why local banks tend to be deeply involved in their communities, and not just as corporate sponsors.
At Republic Bank & Trust Company, its employees give their time, talent and treasure to a variety of nonprofit organizations and local events. For example, if you’ve ever seen the giant Pegasus balloon floating down Broadway during the Kentucky Derby Festival’s Republic Bank Pegasus Parade, the bank’s associates are the ones pulling the strings. The bank has been the title sponsor for the parade for the past 13 years. It also provides in-kind donations and volunteer hours to numerous children’s and social services charities, including Blessings in a Backpack.
While the top officers at larger banks might be detached, both physically and emotionally, from the communities in which their branches reside, local leadership is actively involved in all local concerns. A local bank’s officers regularly collaborate with government, business and community leaders to improve the banking climate for both local companies and citizens. They know that if the community wins, they win, too.
If you’re looking for a bank that shares your values and is as invested in your community as you are, call or visit a Republic Bank & Trust Company banking center.