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How many here, bank with local hometown banks?
Posted by NCIS_76
on 11/26/22 at 12:24 pm
33
2I got away from the cookie cutter Regions, PNC, large banks year ago. Even the talks of loaning money is made with the person you are dealing with at that branch, rather than being sent up the chain to hear back from a snot nose corporate employee.
re: How many here, bank with local hometown banks?Posted by Kreg Jennings 
on 11/26/22 at 12:29 pm to NCIS_76
on 11/26/22 at 12:29 pm to NCIS_76Absolutely. Bank local. And I don’t mean credit unions. You and I pay more taxes than they do. They’re “nonprofit”.
The technology gap has narrowed so fast in every industry the last few years. Most every locally owned community bank has a good website, app where you can make deposits, etc.
Find one that make decisions quick as well as local, and is known for outstanding, over the top service and you’ll never be happier.
The technology gap has narrowed so fast in every industry the last few years. Most every locally owned community bank has a good website, app where you can make deposits, etc.
Find one that make decisions quick as well as local, and is known for outstanding, over the top service and you’ll never be happier.
This post was edited on 11/26 at 12:30 pm
re: How many here, bank with local hometown banks?Posted by timdonaghyswhistle on 11/26/22 at 12:30 pm to NCIS_76
I've done both.
Pluses and minuses. At the end of the day, the money all comes from the same place.
Pluses and minuses. At the end of the day, the money all comes from the same place.
re: How many here, bank with local hometown banks?Posted by NCIS_76 on 11/26/22 at 12:32 pm to timdonaghyswhistle
on 11/26/22 at 12:32 pm to timdonaghyswhistlequote:
Pluses and minuses. At the end of the day, the money all comes from the same place.
The decisions don’t though. Major difference.
re: How many here, bank with local hometown banks?Posted by TigerOnTheMountain 
on 11/26/22 at 12:34 pm to NCIS_76
on 11/26/22 at 12:34 pm to NCIS_76USAA for personal and local banks for mortgages. I used PNC once to purchase a rental property. Never again.
re: How many here, bank with local hometown banks?Posted by fisherscatfan 
on 11/26/22 at 12:38 pm to NCIS_76
on 11/26/22 at 12:38 pm to NCIS_76quote:
I got away from the cookie cutter Regions, PNC, large banks year ago. Even the talks of loaning money is made with the person you are dealing with at that branch, rather than being sent up the chain to hear back from a snot nose corporate employee.
It is a whole different world banking with local banks. Generally speaking, they are much more focused on seeing the local community thrive. Big banks don’t give a shite about the family farmer and will not loan to them. Big banks aren’t supporting the local community activities.
See a smaller community/town that loses its local community bank and you will see the small community die.
re: How many here, bank with local hometown banks?Posted by PhillyTiger90 
on 11/26/22 at 12:39 pm to NCIS_76
on 11/26/22 at 12:39 pm to NCIS_76I do
And even when/if I move away Ill do the same
And even when/if I move away Ill do the same
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quote:
Credit union. Why anyone would do any business with a big bank is beyond me
My major concern right now is interest rates. It's gonna get worse. I withdrew money from my credit union (offering CDs of 0.2) and bought CDs from Chase at 3.0%.
I've been doing a CD ladder at generally 3 month intervals all at 1 year that will last me through the cycle.
re: How many here, bank with local hometown banks?Posted by FlyingTiger1955 on 11/26/22 at 1:36 pm to NCIS_76
on 11/26/22 at 1:36 pm to NCIS_76They don’t exist anymore. The only reason new community banks get started is do that they can grow large enough to get bought out.
re: How many here, bank with local hometown banks?Posted by SirWinston on 11/26/22 at 2:10 pm to NCIS_76
on 11/26/22 at 2:10 pm to NCIS_76Here mate - Umpqua and Key are based AF
re: How many here, bank with local hometown banks?Posted by Bigfishchoupique on 11/26/22 at 2:22 pm to NCIS_76
on 11/26/22 at 2:22 pm to NCIS_76I bank local. My banker will give me money with my signature. If I need it. Chain banks won’t do that.
re: How many here, bank with local hometown banks?Posted by NCIS_76 on 11/26/22 at 2:27 pm to Bigfishchoupique
on 11/26/22 at 2:27 pm to Bigfishchoupiquequote:
I bank local. My banker will give me money with my signature. If I need it. Chain banks won’t do that.
Same here. You are not a number, you are known and carry on conversations. That is a big difference.
quote:
I got away from the cookie cutter Regions, PNC, large banks year ago. Even the talks of loaning money is made with the person you are dealing with at that branch, rather than being sent up the chain to hear back from a snot nose corporate employee.
Very doubtful unless you are talking millions of dollars. Our local credit officers have significant lending authority. Small loans are really just run through effectively a credit scoring formula. The revenue is too small to spend any real time on underwriting.
The technology gap has closed as there are plenty of tech companies that design tech for credit unions and small banks.
Signed,
A snot nosed Senior Credit Officer, though I do corporate leveraged finance, not retail stuff.
This post was edited on 11/26 at 2:51 pm
re: How many here, bank with local hometown banks?Posted by Bigfishchoupique on 11/26/22 at 2:51 pm to NCIS_76
on 11/26/22 at 2:51 pm to NCIS_76quote:
Same here. You are not a number, you are known and carry on conversations. That is a big difference.
Yep. First name basis while calling each other. The ladies that answer the phone know my voice. Excellent service.
re: How many here, bank with local hometown banks?Posted by TheHarahanian on 11/26/22 at 2:52 pm to NCIS_76
on 11/26/22 at 2:52 pm to NCIS_76I’ve gone to using multiple banks for different purposes. That allows me to focus on the function I want, and get the best services for that function.
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