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NCIS_76
Alabama Fan
Member since Jan 2021
1905 posts

How many here, bank with local hometown banks?

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.


Kreg Jennings
LSU Fan
Parts Unknown
Member since Aug 2007
2689 posts

re: How many here, bank with local hometown banks?
Absolutely. 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.
This post was edited on 11/26 at 12:30 pm


timdonaghyswhistle
Member since Jul 2018
13822 posts

re: How many here, bank with local hometown banks?
I've done both.

Pluses and minuses. At the end of the day, the money all comes from the same place.


NCIS_76
Alabama Fan
Member since Jan 2021
1905 posts

re: How many here, bank with local hometown banks?
quote:

Pluses and minuses. At the end of the day, the money all comes from the same place.


The decisions don’t though. Major difference.


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120
oldskule
USA Fan
Down South
Member since Mar 2016
13641 posts

re: How many here, bank with local hometown banks?
Local credit union.....the BEST!

LA USA Federal Credit Union....unreal service!


TigerOnTheMountain
US Navy Fan
Higher Elevation
Member since Oct 2014
33511 posts

re: How many here, bank with local hometown banks?
USAA for personal and local banks for mortgages. I used PNC once to purchase a rental property. Never again.


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51
fisherscatfan
Kentucky Fan
Indianapolis
Member since Sep 2020
408 posts

re: How many here, bank with local hometown banks?
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.


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.


PhillyTiger90
Mississippi St. Fan
Member since Dec 2015
9701 posts

re: How many here, bank with local hometown banks?
I do

And even when/if I move away Ill do the same


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20
Dawgholio
Georgia Fan
Bugtussle
Member since Oct 2015
13047 posts

re: How many here, bank with local hometown banks?
Credit union. Why anyone would do any business with a big bank is beyond me


LSUbest
US Army Fan
Coastal Plain
Member since Aug 2007
7836 posts

re: How many here, bank with local hometown banks?


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USA
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dakarx
Member since Sep 2018
5725 posts

re: How many here, bank with local hometown banks?
Local Credit Union.


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62
Zach
LSU Fan
Gizmonic Institute
Member since May 2005
108886 posts

re: How many here, bank with local hometown banks?
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.




FlyingTiger1955
LSU Fan
Member since Jan 2019
5765 posts
 Online 

re: How many here, bank with local hometown banks?
They don’t exist anymore. The only reason new community banks get started is do that they can grow large enough to get bought out.


DTRooster
Belle River, La
Member since Dec 2013
7561 posts

re: How many here, bank with local hometown banks?
Credit union since I start my first savings account 40 years ago. Do all my business over the phone and sign paperwork when I get a chance, just too easy.


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21
SirWinston
LSU Fan
PNW
Member since Jul 2014
70632 posts

re: How many here, bank with local hometown banks?
Here mate - Umpqua and Key are based AF


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02
Bigfishchoupique
Member since Jul 2017
6217 posts
 Online 

re: How many here, bank with local hometown banks?
I bank local. My banker will give me money with my signature. If I need it. Chain banks won’t do that.


NCIS_76
Alabama Fan
Member since Jan 2021
1905 posts

re: How many here, bank with local hometown banks?
quote:

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.


Bruco
Wisconsin Fan
Charlotte, NC
Member since Aug 2016
2639 posts

re: How many here, bank with local hometown banks?
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


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14
Bigfishchoupique
Member since Jul 2017
6217 posts
 Online 

re: How many here, bank with local hometown banks?
quote:

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.


TheHarahanian
LSU Fan
Duh
Member since May 2017
18600 posts

re: How many here, bank with local hometown banks?

I’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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