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Community Banks -- great Washington Post article...

Discussion in 'General Discussions' started by Lindy, Apr 24, 2020.

  1. Lindy

    Lindy Moderator Staff Member

    Location:
    Nebraska
    There's a story in WAPO about small banks and how the serve their local communities.

    https://www.washingtonpost.com/busi...ail&utm_source=newsletter&wpisrc=nl_headlines
    I hope it can be accessed without a WAPO subscription.
    Union Bank here in Lincoln is my bank. I know several of the people in the story. Not only that, they know me. Well enough to call me by my preferred name (Lindy:)) even though all my legal paperwork for accounts, etc. lists my first name as Sophia (I also sometimes spell it Sofia) I have nothing but good to say about these folks. It's a real feel-good story. The comments following the story are especially telling.

    When I first opened my account there in the fall of 2011 the bank was really busy and the bank vice-president Jason Muhleisen was opening new accounts.:) And he still remembers me.
     
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  2. cynthetiq

    cynthetiq Administrator Staff Member Donor

    Location:
    New York City
    All banks are supposed to be community banks. They are supposed to serve the community not harvest money from it.

    I recall at some point there was a man who with just a letter writing campaign stopped large banks from opening up in cities. Banks are supposed to have a loan amount to the community as part of the chartering of banks. This bank wasn't doing that so he leveraged that to slow the opening until they could. I can't find the article about him but it was long long ago it seems.
     
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