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Community Bank

Unlike huge multi-state and multi-national banks, community banks are locally owned and operated banking institutions. These community banks offer all of the standard banking services including checking, savings, loans and mortgages, safe deposit boxes, etc., for both consumers and business customers. Most community banks do not offer some of the services that larger banks offer such as brokerage services and multi-million dollar financing.

The advantage of banking with a community bank over larger banks is that community banks are locally owned and operated. This means that all lending decisions are made locally by people who understand the unique challenges and financial needs of the business people and residents who live and work in the community that the bank serves. This fact often makes it easier to obtain a loan that might not be written by a bigger bank for any number of reasons.

But don't assume that your money is not safe in a community bank just because it is small. Community banks are governed by the same laws that govern the big banks and your money is insured by the FDIC just like it would be if you banked with one of the giants.
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