When you hear the words “Buy Local” you likely think about visiting the farmer’s market in your part of town or patronizing small businesses and restaurants on Main Street. Did you know that using your local community bank for your borrowing needs also supports these same businesses and organizations?
So what do we mean when we say “community bank?” Aren’t all banks “local” in our community? While a lot of banks may have a brick and mortar location in your neighborhood, it’s not where their money goes. A “community bank” is a bank that derives funds and lends to the communities in which it operates – ultimately helping to grow the local economy. Community banking takes the customer experience to another level with added benefits like one-on-one customer service, products that focus on the customer, and active initiatives to promote community growth. We’re about more than numbers, we’re about relationships with our customers and being a resource in our hometowns.
It can be easy to assume that bigger is always better and opt to do business with international megabanks. Unfortunately, the place where you live and work rarely is the area that benefits from the investments and loans taken out through these behemoths. They invest in their own interests, which is sometimes half a globe away.
We opened our doors at Standard Bank in 1913. Since then, we have weathered the Great Depression, the Great Recession and everything in between. Today, we continue to thrive and grow, providing unparalleled customer service and advancing the interests of our towns and cities where we work.
Here are just a few reasons spending and saving through your local community bank makes sense not only for your community, but for you as well:
- Do you prefer a simpler work flow? Fewer hoops? Standard Bank makes the entire loan process easier for you because everyone is geographically closer to you and focuses on customer service. Our originators take the time to work one-on-one with you to find the option that suits you the best and help you completely understand the entire process… and most loan options provide you personalized service throughout the life of your loan. Our customers find comfort in calling a familiar area code versus an unrecognizable call center.
- Standard Bank options, rates, and closing costs for loans are just as competitive–and sometimes–can offer more. Since our decision makers are local, we offer flexible lending options and timely processing because we see, first-hand, how hard you work every day. Our rates are updated daily – the same as the big guys – with competitive closing costs to keep our loan offers equivalent to theirs, but with the added bonus of outstanding customer experience. Additionally, we have access to the same government loan programs such as USDA, FHA, VA, PHFA, and additionally, we are one of the handful of banks in the area that offer the First Front Door Grant Program sponsored by the FHLBank of Pittsburgh (which supports community banks like us).
- At Standard Bank, we see the fruits of our labor every day. By reinvesting locally, we help residents, small businesses, and non-profit organizations flourish in many ways. We provide loans to small businesses that would never make the cut at a big bank, simply because we have the flexibly to listen to their story. We provide loans to families who are working tirelessly for their dream home and need someone on their side. And for our smaller, local non-profits that serve so many of our neighbors, the Standard Charitable Foundation awards grants to organizations who wouldn’t have grant options otherwise. Looking out for the best interest of our communities is ingrained in the way we conduct business and is at the root of how we reinvest the money we earn.
- Local banks create local jobs for local people, who spend money in your hometowns. Our associates at each Standard Bank office gets to know you and looks out for your best interests. We thrive when our customers do. Our income stays in the area, and we are as invested in the community as you are because it’s our neighborhood, too. From the Mt. Pleasant Glass Festival, to the Franklin Regional Backpack Program, to the Mt. Troy Halloween parade, to the ACIT basketball tournament in Cumberland…we see you and support you.
- Like your privacy? So do we! That’s why, as your local community bank, Standard Bank will never share your information with other businesses. You’ll never get annoying random calls or junk mail sent to you from third parties associated with us. We don’t like that stuff anymore than you do. In addition, we are always monitoring for fraudulent activity on your accounts to keep you safe.
Before you make your next loan or banking decision, consider “buying local” first. Come visit your local Standard Bank office (find the location closest to you) and learn about more ways your friendly neighborhood Standard Bank family can help you and your community grow.