Notes from the CEO
Go Local! It Works For Banking Too!
The “go local” movement seems to be sweeping the country and it’s certainly prevalent in our local community. We are encouraged to eat local, give local, shop local, etc. on a daily basis. It’s a rally cry that should be applied to banks as well.
Think about it … the idea behind going local is shifting focus toward sustainability, community, and what it takes to create a good place to live. Community banks are no stranger to this type of thinking. These ideas are what banks like Five Star Bank were founded upon. The Independent Community Bankers of America (ICBA) has officially announced a “Go Local” banking campaign and Five Star Bank is proud to support it.
By banking locally, community members can make a real difference in the lives of their neighbors and the future of their community. It’s a chance to make a hometown investment you can be proud of. After all, the money deposited into community banks will be reinvested in ways that drive our local economy, like loans to local residents who wish to buy a home or to small business owners who are looking to open shop. Benefits that come with banking with a community bank include: a relationship-based banking experience, superior customer service and the pride that comes with reinvesting in one’s community.
As a small business ourselves, we only thrive when our customers and communities do the same, so taking care of our customers and looking out for the best interest of our community is ingrained in the way we conduct business each and every day. And when our customers call us, they do not end up talking to someone halfway across the globe. Instead, they speak with someone who lives and works in the same community they do.
According to the ICBA, community banks fund nearly 60 percent of all small businesses under $1 million. By driving local economies and creating local jobs, community banks are an integral part of our financial system and play a key role in our nation’s economic recovery.
The next time you choose to spend your money shopping at the local farmer’s market, or at the “mom and pop” shops for the holidays in your effort to “go local,” why not do the same with your banking business and take “going local” one step further?
James E. Beckwith
President & CEO
Five Star Bank