Comparisons are often made between Wall Street and Main Street, and many banks seem to owe their loyalties to the former. First & Peoples Bank And Trust Company in Russell, KY, considers itself much closer to Main Street than many of its competitors. Like any community bank, it offers customers and the surrounding locale a few things that larger banks simply cannot.

What Are the Advantages of a Community Bank?

No Excessive Fees

National banks seem to have a fee for almost everything, and many have done away with their free checking accounts. At community banks, however, free checking accounts are readily available. For example, a Hometown Living Checking account has no service fees and allows for three checks to be processed per statement cycle at no charge.

Community Involvement

Community banks are—perhaps unsurprisingly—a big part of the community they’re in. Fundraisers, blood drives, and charity dinners are just a few of the events that these financial institutions take part in. But when it comes time to get down to work, you’ll notice familiar faces in community bank branches. This is because they do not bring in people from around the country to run branches. Instead, these banks hire residents to help serve the community.

Personal Support for Your Business

A bank that is involved with the community will also intimately know local businesses. As a result, community banks can provide a more personal experience when opening and maintaining business loans or checking, savings, and CD accounts.

Services & Security Without Sacrifice

The personal relationship customers have with their community bank doesn’t come at the cost of services or security that big, national options offer. From online banking and bill pay to mobile money management and credit card readers, a community bank can provide their customers with the same convenience as larger competitors.

If you’re seeking a personalized experience at your local financial institution, consider a community bank rather than a national chain. For more information about First & Peoples Bank And Trust Company, call (606) 836-0211 or send them an email.