What ‘local’ really means to us

Does the bank support community events or do they just pocket the money they earn? Do they have really good customer service or is it usually easier to just go use an ATM?

Most of the benefit of buying local comes from the fact that many local shops are involved with supporting the communities they serve…If the local bank doesn’t provide any value for being local – meaning they just scoop away money out of the community – I don’t value them any higher than any other bank. It becomes just a pure rate comparison.

Here, in an excerpt from The Simple Dollar, is American 1 in a nutshell.

As a not-for-profit credit union, we’re obligated to return our “profits” back to our members and our community. So while other financial institutions may keep the fees they charge you, we turn around and invest them in community events all year long.

That’s what being a “local” financial institution really means: giving back to the communities we serve.

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