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Importance of Community

January 30th, 2024
Importance of Community

When it comes to funding, big banks have an advantage. No Doubt. Fortunately, deep pockets are not the end of the story. The bottom line is that the large-cap bank advantages are not always what the customer values in their FI relationship.

Big banks do not try to meet their customers on a first-name basis in the lobby. They won’t have loan officers able to listen to a small business’ “whole story” so they can offer personalized community contacts and solutions. Community bank customers recognize and appreciate the difference. It is the distinction that will differentiate community banks, and that is why interacting with their communities in positive and meaningful ways is so important.

Do your customers feel in-branch touchpoints are warm & welcoming? How are your older generation faring with digital banking tools? How are you differentiating your brand? Doing good speaks to good intent, but it is important to ensure that operations are tactful and focused on meaningful experiences. Collecting customer experience feedback will ensure that decision-makers can dial in on the strength of the community bank: the people they serve.

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