A recent national survey revealed 66 percent of Americans wish their relationship with their financial institutions were more personal.
The Federal Deposit Insurance Corporation’s 2014 findings are not surprising, particularly when it comes to the megabanks. How personal can you get with a national bank, when they don’t know you by name, but only by your nine-digit identification code?
Community banks provide traditional banking services in their local markets. They have a specialized knowledge of the businesses and people in communities they serve and focus on relationship banking versus transactional banking.
Community banks often interact with customers outside of the bank at local events and activities. It might be at a community fundraiser, shopping at local business or attending a high school football game. This gives them a special insight to customers and their special needs.
Small businesses, the foundation of our nation’s economy, have found personal banking service and support from the country’s 6,000 community banks. In recognition of this and other major contributions to consumers and local economies, the Independent Community Bankers Association (ICBA) dedicated April as Community Banking Month.
In more than 30 years as Chief Executive Officer at Bank of Agriculture and Commerce (BAC), I’ve made personal contact and customer service our first priority.
This commitment to personalized service does not come at the expense of the latest technology and processes. BAC offers the same advanced, electronic banking products and cash management services as the megabanks. We offer a wide variety of consumer banking products to satisfy the personal banking and investment needs of individuals, business owners and their employees.
BAC, along with ECC Bank, a division of BAC, has 10 branches in Stockton, Modesto, Lodi, Brentwood, Oakley, Discovery Bay, Antioch and Concord. When you apply for a loan, the decision is made at our Stockton headquarters. Apply for a loan from a national bank and the decision could be made in New York City or Charlotte, N.C.
Community banks are relationship lenders that flourish when their customers and communities do the same. After all, we’re all in this together.
William R. “Bill” Trezza is a Stockton resident. He’s worked in the banking and the federal regulatory industries for 46 years.