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The benefits of banking locally

Posted May 20, 2015 in Advice Column

Working at Peoples Credit Union for the past 8 years and my wife being in banking as well, whether I’m at home or work, banking is a large part of my life. I can not tell you how many times I have heard people comment “I never knew local financials could do all this” Let’s explore why they would say that and now you can also take part if you haven’t already.

You get to help build and grow our local economy: I love being a part of our community and when you bank locally, you help keep wages and money in Webster city. This not only strengthens our city but helps other locally owned businesses grow and thrive.

You know who is helping you: I challenge all my team to know as many peoples that bank with us as possible, not just say hello, to actually know you. That has become more difficult as Peoples has grown larger but our staff still works hard to actually know who we help. Trust is important in banking and knowing the professionals that take care of you is vital. It makes for a fun day when you get to help people you know.

Decisions are locally made right here: When you apply for a loan at a local financial the loan officer works here in town, they understand our community and how things are done, what has happened in the past and so on. It isn’t farmed out to a different location; when you work with a local financial you build history with them, they will be able to better help you.

It usually saves you money: Looking at stats and fee tables you can usually save money by banking locally. Most local financials strive to not over fee the people that bank with us, there are fewer fees as well. When you have credit unions and banks that local community members started it makes a difference, we aren’t a branch location from another state, we are part of the community. With today’s technology being offered right here in town for less it just makes sense.

I truly love that Peoples Credit Union was started in someone’s living room, although this was many years ago, I still have our members tell me the first time they got a loan “at the kitchen table with cookies”. It is stories like this that make local financials part of our community, our businesses grew up here too because of your support. It is fun to come to work and be part of an industry that has helped so many people achieve their goals in our community.


Information provided by Jordan Hensley, People’s Credit Union, 310 First St., Webster City. For more information, call People’s Credit Union at 832-6346

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