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What is Community Banking?

Overwhelmed by banking acronyms? Unsure of the steps needed to take out a loan? Confused about different lending options? Don’t worry. We’ve got you.

We cover all these topics and more in our video series, Making Cents. Our knowledgeable associates break down a variety of banking topics, offering viewers education and clarity. Each video will leave you feeling empowered to make smart financial decisions that fit your needs

In this edition, SVP – Chief Retail Banking Officer Stephanie Cummings breaks down a question whose answer is at the heart of what we do every day:  what exactly is community banking?

  • What makes a bank a local community bank? A big part of it is that the associates live in the communities they serve, which gives them a greater understanding of the needs and goals of their neighbors.
  • But it’s more than that; a local bank needs local leadership. Lending decisions are more effective and beneficial to the community when they are made by people who truly understand it. Who know what it needs and what it takes to succeed.
  • Local branches of national banks are disconnected from their community in ways that keep them at a distance from their customers, never allowing for true relationships or understanding to form.
  • Another key piece of a community bank is that local deposits are able to fuel the local economy. Deposits made at a bank like NBC stay in the community, given back through borrowing to businesses, entrepreneurs, and families looking to buy a home.
  • Local banks like NBC have the ability to impact their community in powerful ways, whether through serving on boards, via volunteering, or in donations to nonprofits and sponsorships of events.
  • For those ready to make the switch, it’s much easier than you think. There’s four simple steps, and all of them come with our help:
  1. Make an appointment at – or just stop by – the branch closest to you. It’s how we start that personal relationship and work with you to ensure you’ve got all your needs covered. Opening an account online might be easy, but it’s rarely the ideal, customized solution for you.
  2. Change your direct deposit. We can help you with that.
  3. Change your online bill payments. We will help you create a plan and walk you through changing all the accounts.
  4. Finally, we’ll also help you make the transfer of remaining funds from your old account to your new one and remind you to visit your old bank to close your accounts and avoid any fees.

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