Why You Should Take a Look at Smaller Banks

by Minority Fortune

banksMost people stow their hard-earned money away in a large bank’s checking/savings/ investment account. And in return for their trust, they get automated phone customer service, little interest, taxes going to the bank via way of bailout funds, red tape with withdrawing and deposits, and no mercy when one overdraws money.

The recession is causing people to reconsider, and they should be. There are reputable local banks that have won over their communities’ hearts for decades before these big banks grew like crazy. It’s never to late to decide your money would be better served by placing it in a small bank or federal credit union.

Reasons Why You Should Consider a Small Bank

•    Direct Customer Service. No automated machines stand in your way when talking to a personal representative.
•    Better Interest Rates & Lower Fees. To find banks in your area with the highest interest rates, check out bankrate.com
•    Improved Loan Options. Instead of going by a standardized check-list, small banks attempt to create a loan that meets your needs.

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