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Local Bank in Kansas City

How to Find a Local Bank in Kansas City

Banking / November 15, 2019

Whether you’re looking to switch banks or simply open a new account, choosing the right bank can be incredibly important. You might be leaning toward a big national bank for your financial needs, but don’t forget to include a local bank in Kansas City during your search. A local bank can give you the same services as a nationwide bank without the downfalls of big banking. 

Cornerstone Bank is proud to be a local bank in Kansas City. We believe that our customers’ needs should always come first. That’s why we take the time to give banking insights and advice to better serve our community. Read more on how to find a local bank in Kansas City.

What does a local bank do?

A great local bank has the same capabilities as a national bank, just on a smaller scale. Although dependent on the institution, many local banks offer checking accounts, savings accounts, personal loans, and more. 

But unlike big banks, a local bank in Kansas City strives to give back to the city. Instead of being an outsider, local banks are a part of the community, which makes them great for understanding their customers. 

Benefits of banking locally

A local bank in Kansas City has many advantages that national banks simply don’t. When choosing your next bank, it’s important to understand how the benefits of banking locally can help you. 

Local banks support the community

Local banks help build up the community because it’s just as important to them as it is to you. You may see them host fundraisers or participate in local runs. Either way, a local bank in Kansas City wants to see the city grow and succeed. 

Plus, when you deposit money or buy a CD, usually a larger portion is returned back to the city than with national banks. This reinvestment in the local economy can come via: 

  • Employee wages
  • Investment in local businesses
  • The bank purchasing local goods and services

Same services, lower costs

Oftentimes local banks offer the same services as big banks, including loans, a variety of accounts, and online banking, but the fees associated with them are usually lower. On average, a local bank in Kansas City will also have better interest rates. That means you’ll be able to use that extra money to start a savings account or splurge on something nice. 

Personalized support

Local banks are known to be more personal with their customers. Strong customer service turns banking into a relationship, rather than a series of transactions. These relationships can help open a variety of doors for local bank customers by allowing networking opportunities within the community. And trust us when we say, you’ll feel a lot more educated and informed about your finances and accounts, too! 

In addition, a local bank in Kansas City is more likely to work with a customer and understand his or her circumstances before making final decisions. This gives you peace of mind that you’ll be treated like a person, not an account number. 

Extended weekend service

A local bank that cares will work with you even on the weekends. Unfortunately, with a national bank, you’ll have to wait until the next business day to solve your problems—or you could test your luck with an impersonal, automated phone service. 

At Cornerstone Bank, we understand that banking problems don’t just happen Monday through Friday. That’s why all of our officers provide our customers with their cellphone numbers to give the best service 7 days a week. 

Better for local businesses

Local banks are local businesses, so they understand what it means to be successful in Kansas City. Some national banks won’t offer loans to local businesses simply because they don’t understand the area. On the other hand, a local bank knows the community and is more likely to understand how to help your business thrive. 

Great customer service

National banks tend to be impersonal, which means their overall customer experience can take a hit. If you speak to a representative, they may be thousands of miles away from you, and therefore distant from the problem. However, local banks are just around the corner. They see your problems through the same lens, which makes problem solving much easier and stress free. 

Plus, turnover rates are usually a lot lower at a local bank. Because of this, bankers are able to build a rapport with their customers and truly get to know the people they serve. (The majority of our loan officers have been with Cornerstone Bank for 10 years or more!)

Read more about the best bank customer service in Kansas City.

Local decision making

With national banks, decision-makers usually aren’t in your city, but they are in charge of what happens to your local branch. Reports may help, but there’s nothing quite like actually being in the same area to understand how to best serve it. That’s exactly what you’ll get with a local bank. 

On a personal basis, local businesses can make special circumstances based on a customer’s specific needs rather than treating everyone the same. This is great when it comes to loans or opening up a new credit card. A local bank in Kansas City will listen to you instead of just looking at numbers. 

Types of local banks in Kansas City

Local retail banks

A retail bank is probably what you’re most familiar with. People use retail banks in their daily lives for their checking accounts, savings accounts, credit cards, etc. They focus on the general public as their main customers, but they sometimes offer banking for small businesses as well.

Local commercial banks

Commercial banks offer the same services as retail banks, but they focus on business customers. Instead of opening accounts for the general public, they work with companies to supply all their banking needs. 

Transactions may be more complex with local commercial banks because they have to deal with larger sums of money or the tricky financial paperwork that comes with owning a business. 

Local investment banks

An investment bank works with a business to help them maneuver through financial markets. They are usually used when a company wants to go public, invest in bonds, trade stock, or communicate with investors. 

Investment banks can also act as advisors to guide a company on the best next steps, including reorganization and financial security. 

What to look for in a local bank in Kansas City

Not all local banks are the same. Each has different qualities that could either help you or make financial transactions more complicated. If you’re looking for a local bank in Kansas City, keep an eye out for a few key differentiators:

FDIC Insurance

The Federal Deposit Insurance Corporation guarantees money in deposit accounts to up to $250,000. That means if something ever happened to the bank, you’ll still have your money. This is crucial for not only your peace of mind, but your financial well-being. You can even use FDIC’s “find a bank” tool to check if the bank you’re looking for is on the list. 

With Cornerstone Bank, you won’t have to worry. We are proud members of the FDIC so customers can feel secure and at ease. 

Manageable fees

Some local banks may overcharge you in fees, which can become stressful and overwhelming. Before working with any local bank in Kansas City, do your research on the fees associated with the account you want to open. And always ask questions if you’re unsure. 

Low minimum requirements

You don’t want to bank with an institution that will cost an arm and a leg just to get started; or worse, they’ll require you keep a high balance to avoid fees. Life happens and sometimes balances run low, so you want to make sure you find a bank that understands that.

For personal checking accounts, the best option is to find one with no minimum daily balance requirement (which is exactly what you’ll find at Cornerstone Bank).  

More information about Cornerstone Bank’s fees and requirements

Online banking

Nowadays, online banking is crucial to keep up with our busy lives. When searching for a local bank in Kansas City, find one that offers online banking. That way you can make transactions on the go, and you can keep up with your account without going into the office. 

The best local bank in Kansas City

If you’re looking for the best local bank in Kansas City, then look no further than Cornerstone Bank. We offer a variety of services for both personal and business accounts, and we always cater our services to our customers’ unique needs. 

Our bank is a community that builds strong relationships with our customers. Every time you walk into our door, we greet you by name because you’re just that important to us. Since 2001, we’ve served people in the Kansas City area with the best banking services available. 

What you get with Cornerstone Bank:

  • Phenomenal customer service
  • Competitive interest rates
  • Benefits of working with a local bank
  • A team that’s been around for an average of 9 years
  • Online and mobile banking

Get started with Cornerstone Bank today and visit us at our Overland Park office. We’d be happy to help you with any questions you may have about working with a local bank in Kansas City. 

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