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Benefits of a Local Bank in 2021

Why Banking Locally Can Lead to Greater Financial Success

Banking / November 1, 2020

Choosing the right bank is not a decision to take lightly. Just as your money is important, the people dealing with your money should be a priority. Large, national banks often treat customers as numbers, which could lead to little regard to those customers’ actual wants and needs. The truth is, national banks may be more prominent, but that doesn’t mean they’re the best option. 

Big Banks or Little Banks: Which One Is Better? →

There’s a reason a close-knit family or friends are often described as a small group. When there are fewer people involved, that opens the opportunity to build personal relationships and foster trust. Banking is no different. When you visit a local bank, you’re introduced to bankers who always put you first, not the other way around. 

Cornerstone Bank is a premier local bank in Kansas City that stands strong on our values. We believe our dedication to doing what’s right, helping our customers grow financially, and improving our overall banking relationships helps us stand out from larger banks. 

If you haven’t considered banking locally, keep reading for some top benefits of a local bank in 2021. 

What is the difference between a local bank and a national bank?

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 (often with lower interest rates), 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 at understanding their customers.

Plus, when you deposit money or buy a CD, usually a larger portion is returned 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

How to Find a Local Bank in Kansas City →

Sometimes the idea of banking locally seems like a questionable choice, but that’s often from a lack of education about local banks. If you choose the right local bank, you’re not limiting what you can or cannot do. This includes:

  • Where you can bank 
  • Types of accounts you can open
  • The ability to get personal and commercial loans 
  • ATMs you can visit without fees (yes, you can bank anywhere)

What is Cornerstone Bank’s ATM refund policy? →

Here’s one thing many people overlook: decision making. With national banks, decision-makers usually aren’t in your city, yet they’re in charge of what happens to your local branch. Reports may help, but there’s nothing quite like living 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 bankers can make special circumstances based on your specific needs rather than treating everyone the same. This is a huge perk when applying for loans or opening up a new credit card. A local bank will listen to you instead of only looking at numbers. 

The Importance of Building a Relationship with your Loan Officer →

Big bank technology without the big bank hassle 

We get it. You’re always on the internet, and you’re always on the go. A busy lifestyle may not include space for a bank stop in the middle of the day. And even if you’re having a relaxing day at home, who wants to ruin that by leaving to complete your financial errands? Now, you may believe national banks are the only ones who can integrate into your on-the-go, modern life, but that’s not always the case. 

Many local banks, including Cornerstone, offer the same great technology as bigger banks to make your life easier. First, we have simple-to-use online banking where you can open an account, check your balances, pay your bills, and more. Basically, whenever (and wherever) you’re connected to the internet, you’re connected to your bank. 

Plus, it gets even better. Along with online banking, local banks can still provide all the benefits that come with mobile banking. Mobile banking literally allows you to bank anywhere you’d like. As long as you have service, a banking app gives you most of the same capabilities as online banking at the touch of a thumb. Our Cornerstone Bank app even has facial recognition features for a more secure and quick login process. 

Better service, better care, better experience 

At a local bank, you won’t just be another faceless account number; you will truly be a person who matters to your bankers. Smaller banks typically have fewer customers, allowing them to provide more in-depth service and personalized care. 

Are all local banks the same? →

Service-wise, we can’t talk about other local banks, but we can definitely tell you what to expect when you visit our Overland Park office. From the moment you walk in, you are welcomed as part of the Cornerstone family. If it’s your first time, we’ll have a one-on-one conversation to talk to you about your finances, goals, and offer suggestions on how we can help. Then the next time we see you, we’ll greet you by name, just as we do with every customer.

With us, you don’t have to worry about trudging through automated phone prompts; you will speak to a real banker who’s happy to help. Even after we close, our bankers provide their personal phone numbers in case you have questions and concerns on the weekends and after hours. At the end of the day, your banking experience is important to us, and we want to make it as stress-free and simple as possible—that’s the Cornerstone difference.

What makes Cornerstone different from other local banks? →

Goes beyond your average banker and becomes a financial resource

Since you receive more personalized service from a local bank, many local banks can also act as a financial resource to give you advice and help you manage your money. Why choose a bank that only holds your money when you can choose a bank that can also help you grow your money? 

Top Questions to Ask Your Banker to Make Your Money Go Further →

Never believe you have to make big financial decisions alone, especially when a bank is full of experts who hold tons of useful knowledge. At a local bank, you get the chance to gain individualized advice about things such as:

  • How to use home equity
  • Ways to save money
  • How to open a bank account
  • Saving money for college tuitions 
  • How to prepare and apply for a mortgage
  • Tips for holiday shopping and not breaking budget 
  • Best practices to increase credit score
  • When to use a credit card vs. a debit card 
  • And more!

When you’re able to turn your bank into a personal financial advisor, you may find your money goes a lot further, you decrease your debt, and you become more financially secure.

Perfect for commercial banking (even for small businesses) 

Don’t think the benefits of a local bank only serve personal bankers. A local bank is also great for all of your commercial banking needs. As with a national bank, you can apply for business loans and credit, open accounts, and pay bills via a local bank. However, what a large bank may not offer is the insight on how to grow your business within the community. 

Cornerstone Bank prides ourselves on being a successful business in the Kansas City area, enabling us to help other KC businesses learn how to thrive, too. Plus, we’re always here to help you implement techniques that will improve your operations, make the most out of banking technology, and help money management become more streamlined and efficient. We want your business to grow and prosper, so we will do whatever it takes to guide you toward success. 

Questions Business Owners Should Ask Their Bankers →

Throughout our years of experience, we have helped businesses local and national (thanks to our “bank anywhere” approach) maximize growth and profits by acting as business advisors and a support system. Whether you’re thinking about buying a new commercial building, boosting your ROI, or even organizing financial books, our team will be happy and eager to address your needs.  

Learn more about the benefits of a local bank in 2021

More than anything, our bankers are here to help you with any of your financial needs. Since 2001, we have been a primary resource for our customers across the Kansas CIty metro and the country. We take pride in watching our customers thrive, no matter who you are. 

We always put our customers first, and that means giving them the best banking has to offer. We don’t believe in simple banking; rather, we go above and beyond to help our customers make their money work for them. 

For more information, visit our Overland Park office or give us a call at 913-239-8100 to let us know how we can help.