{"id":1494,"date":"2023-10-10T15:19:18","date_gmt":"2023-10-10T15:19:18","guid":{"rendered":"https:\/\/first-exchange-bank.flywheelsites.com\/?p=1494"},"modified":"2024-03-18T13:08:52","modified_gmt":"2024-03-18T13:08:52","slug":"why-choose-a-community-bank","status":"publish","type":"post","link":"https:\/\/www.firstexchangebank.com\/why-choose-a-community-bank\/","title":{"rendered":"Why Choose A Community Bank"},"content":{"rendered":"

Whether you\u2019re a long-time resident of North Central West Virginia or are\u00a0relocating to the region<\/a>, you may be wondering whether becoming a customer of a community-based bank like First Exchange Bank is the right choice for you and your family\u2019s financial needs. Large banks can have slick and far-reaching advertising campaigns that make them seem like the best or most convenient choice for not only day-to-day banking needs, but those big financial decisions, from car financing to mortgages.<\/p>\n

But the fact is that local banks are a key part of our financial world,\u00a0providing the bulk of loans<\/a>\u00a0that keep our small business community growing and representing\u00a097% of financial institutions<\/a>\u00a0nationwide. There are lots of reasons why people continue to choose community-based financial institutions over mega-banks, and we think you\u2019ll find them pretty compelling, too. Keep reading to learn more!<\/p>\n

Reasons to Choose a Community Bank<\/h2>\n

There are many motivations behind why people choose their financial institution. Maybe you\u2019ve had the same bank since you were a child, your current bank had a branch around the corner from your old house, or it offered you a good rate on your mortgage, years ago. But if you\u2019re banking with a large, national institution and aren\u2019t thrilled with their service, know that there are great choices within your community, and lots of reasons to keep your banking local.<\/p>\n

Keep Your Money in the Community<\/h3>\n

When you bank with a local bank, you keep your business and your money in your community. Why is this so important to the health of our communities? Your dollars invested in your community bank can provide\u00a0loans to businesses to open,<\/a>\u00a0expand, and hire employees, keeping our local economies strong. And not only do local businesses\u00a0create more jobs<\/a>, they also help bring regional prosperity and provide\u00a0great tax revenue<\/a>\u00a0to be reinvested back into the community\u2014wins all around.<\/p>\n

When you do your part in joining and supporting a thriving local bank, you also help to provide an opportunity for\u00a0first-time homebuyers\u00a0<\/a>to work with a flexible, attentive lending team to achieve their dreams of home ownership. When more members of the community own their own homes, the whole community benefits.<\/p>\n

\"\"<\/p>\n

We Help the Community<\/h3>\n

Community involvement and support is central to the mission of local banks. From sponsoring youth athletic teams to providing financial education services, community banks not only offer dedicated service to their customers, they also help build local identities, fund local initiatives, and organize gatherings to promote community fellowship.<\/p>\n

At First Exchange Bank, our employees strive to play supporting roles throughout their communities both in and outside of work, by volunteering, serving on local boards and committees, and\u00a0giving back to local organizations<\/a>. We also are proud to sponsor and participate in many community events, from the Fairmont Christmas Parade and Mannington District Fair, to the Drive-Thru Santa at our Hundred office and Trunk-or-Treat in Morgantown, we aim to stay engaged with our surrounding communities.<\/p>\n

Personal, Local Service<\/h3>\n

When you work with a hometown bank, you are working with people who live in the same community as you, and who have local market insights and expertise that national banks simply can\u2019t compete with. In combination with this, all lending decisions are made locally, and our banking and lending team will take the time to get to know you and find the right financial solutions for your financial needs.<\/p>\n

At First Exchange Bank, cultivating strong connections with our customers is our first priority. From\u00a0Child and Youth Savings Accounts<\/a>\u00a0to\u00a0Retirement Planning,<\/a>\u00a0we serve customers at all stages of life, and work hard to build life-long banking relationships.<\/p>\n

Better Rates and More Flexible Lending<\/h3>\n

It\u2019s no secret that large national banks don\u2019t always offer the best rates, especially for their savings accounts and certificates of deposit. As Credit Karma\u00a0explains,\u00a0“Interest rates on savings accounts are often low because many traditional banks don\u2019t need to attract new deposits, so they\u2019re not as motivated to pay higher rates.\u201d But smaller, community-owned banks strive to offer the best rates they can, coupled with lower minimum balances, to make sure all our customers have access to great options.<\/p>\n

Small banks also often beat large financial institutions when it comes to rates and terms for lending products, from mortgages to loans for businesses. Local decision-making allows for more flexibility when it comes to approving loan applications, and quicker turn around.<\/p>\n

\n

Same Great Products<\/h3>\n

Think that only big banks can offer a wide range of products and services, or the latest technology to keep your accounts accessible and secure? Think again. You don\u2019t need to sacrifice local service to gain access to the banking products that you need, and that can make your life easier. From\u00a0mobile banking<\/a>\u00a0and\u00a0online account opening<\/a>\u00a0to a range of lending products for both\u00a0individuals<\/a>\u00a0and\u00a0businesses<\/a>\u00a0(as well as affordable business\u00a0Cash Management Services!<\/a>), our services can fulfill your banking needs.<\/p>\n

Working with a local bank can also be a convenient, time-saving choice. Small, local banks can also offer more local branch locations (At First Exchange Bank, we have locations throughout North Central West Virginia in White Hall, Fairmount, Fairview, Hundred, Morgantown, and Mannington), to make your visits more convenient. Plus, with nationwide ATM fee reimbursement*, you can have access to your money wherever you go\u2014even when you\u2019re miles away from home.<\/p>\n

Work with First Exchange Bank for All Your Banking Needs<\/h2>\n

If you\u2019ve been researching banks with locations in North Central West Virginia, whether in Mannington, White Hall, Fairmont, Fairview, Hundred, Morgantown, or Mannington to find the right one for your banking needs, look no farther than First Exchange Bank. We offer competitive rates, convenient banking services, and the community-bank touch that large banks just can\u2019t match.<\/p>\n

Reading about the benefits of working with a community bank is one thing\u2014but meeting with a dedicated member of our banking team is the key to understanding the difference. Stop by one of our branches today to begin your banking relationship today. Whether you are looking to open a\u00a0checking account<\/a>\u00a0or\u00a0savings account<\/a>, or just want to chat about what we have to offer, we can\u2019t wait to get to know you!<\/p>\n

*A $15 limit on ATM fee reimbursement applies for firstEssential, $25 limit for firstPlus, and $45 limit for firstPlatinum Checking Accounts.<\/sup><\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Whether you\u2019re a long-time resident of North Central West Virginia or are\u00a0relocating to the region, you may be wondering whether becoming a customer of a community-based bank like First Exchange Bank is the right choice for you and your family\u2019s financial needs. Large banks can have slick and far-reaching advertising campaigns that make them seem […]<\/p>\n","protected":false},"author":1,"featured_media":1495,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"yoast_head":"\nWhy Choose a Community Bank?<\/title>\n<meta name=\"description\" content=\"When you bank with a local bank, you keep your business and your money in your community. 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