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More than money, it's a commitment to you.
Community banks have been around for over a century and are the backbone of small-town America. We are the financial institutions that have supported small businesses, created home ownership opportunities, and contributed to the overall well-being of communities across the country. As the banking industry evolves and customers increasingly turn to trendy digital or niche banks, it’s important to remember the unique role that community banks play. We offer a safe and sound alternative with the same capabilities, but with deposits staying in the community to support your local businesses.
Recently, there has been a lot of discussion about bank failures and the safety of your money. Moving your funds to a regional or national bank may not provide the benefit you think it will. Like large banks, your community bank deposits are backed by the FDIC up to $250,000. Ninety-nine percent of the nation’s community banks are considered “well capitalized” by their regulators. When banking with a community bank, like AbbyBank, you’re not only supporting local businesses but also investing in the future of your community. Last year, AbbyBank donated a quarter of a million dollars to worthy organizations in the communities where we do business. Community banks pride themselves on personalized, one on one service. Consider this the next time you need your financial questions answered or banking problem solved.
One of the most significant contributions of community banks is their support of small businesses. According to the Independent Community Bankers of America, community banks make 60% of all small-business loans and more than 80% of farm loans. They are the champions of small business, providing the fuel for entrepreneurs with dreams and ideas to grow their businesses.
In addition to supporting small businesses, community banks also play a critical role in creating home ownership opportunities. They provide loans to first-time home buyers, low-income families, and others who may have difficulty obtaining financing from larger institutions. By doing so, they help to build and stabilize local communities, increasing property values and creating wealth for individuals and families.
Community banks are also known for their commitment to their local communities. Our staff is heavily engaged, serving on the boards of nonprofit organizations, raising money for worthy causes, and donating time at local food banks and nonprofits in their local communities. By banking with your local community bank, you’re supporting a financial institution that is deeply connected to the community it serves.
When banking with a community bank like AbbyBank, you’re not only choosing a safe and sound financial institution but also investing in the future of your community!