Community banking is truly the foundation of many towns and cities across America. These banks are often the first place people go to get a mortgage, start a business, or simply open their first bank account. Healthy community banks mean a healthy local economy – a place where businesses and families can thrive.
However, community banks are facing more challenges than ever before. They must grapple with keeping deposits coming in, keep up with the host of new fintech on the market, compete with larger banks that can offer more products or better rates, and manage the ever-present issue of ongoing regulatory compliance.
It is in the best interest of everyone that community banks not just survive, but thrive. Corporate, nonprofit, and high-net-worth depositors can meet both ESG and financial goals by supporting community banks through a comprehensive deposit management strategy.