Ohio Community Banks EMPLOY, INVEST, and SERVE their local communities. Read on to learn more.
A community bank is an FDIC-insured financial institution that creates products and services to meet the needs of the local community. The money you put in your community bank stays in your local community. This can include new loans to neighbors, small business owners, or sponsorship of local community projects.
Community banks invest locally. Big banks take in local deposits and invest those deposits in other markets.
Community banks EMPLOY, INVEST, and SERVE locally. First and foremost, all community banks pay taxes. Not all financial institutions do. Furthermore, community banks choose to reinvest their time and earnings back in their local community.
When you bank with a local community bank, you are funding the growth and development of your local community. Deposits made at the local bank are reinvested locally in the form of new loans and new investments.
Collectively, Ohio Community Banks employ over 15,000 Ohioans.
There are over 150 Ohio Community Banks with over 1,100 locations
An astonishing 78% of Ohio Community Banks are over 100 years old.
NO! Credit Unions are not banks. Their depositors are not FDIC-insured. Additionally, credit unions do not pay taxes to support public services.