Guest View
Gov. Tom Corbett has officially proclaimed April as Community Banking Month in Pennsylvania.
April will be celebrated as Community Banking Month in recognition of the over 190 community banks that carry on the tradition of giving back to their local communities through nearly 1,200 banking offices doing business in Pennsylvania.
These institutions are distinguished because of their ongoing commitment to the economic vitality of local communities throughout the commonwealth.
Community Banking Month is an excellent opportunity to celebrate community financial institutions that continue to provide the local support communities need to prosper and grow, and have done so for more than 200 years.
With more than $120 billion in assets, community banks know that when money stays in a town it becomes a renewable resource, creating an economic cycle that revitalizes and stimulates local communities.
Community banks have made significant contributions to the economic well-being of the commonwealth through their financial support, their dedication as good neighbors and their service as financially sound and reliable sources of economic lifeblood in our communities.
These local institutions help clients build homes, save for higher education, plan for retirement and fulfill other dreams.
Community banks have continued their strong tradition of small business lending, in spite of difficult economic conditions, so that they may strengthen and support the commonwealth's economy.
Financial decisions and community investments are made locally by local decision-makers – those family, friends, and neighbors that one sees everyday – not some faraway place or city that doesn't know what's important to your town.
Local deposits become local loans; it's hometown money recycling at its finest.
These banks may be small compared to others, but they have big ideas and offer the same services as the big guys, all while helping to finance the big dreams for people who live and work in communities all over Pennsylvania.
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Lynn L. Bubb is the COO of the Pennsylvania Association of Community Bankers, which represents the interests of all community banks across Pennsylvania. The PACB and its members believe "community" banks are better able to serve their local area than financial entities whose policies are not set locally and thus may not meet local needs.