Idea Vault
The Power of Reinvesting in Our Community
The Power of Reinvesting in Our Community
Reinvesting in your community sounds great, but how does one really put that into action?
If you’ve ever wondered if it matters where you deposit your hard-earned money, let us assure you it does. Not only does banking locally support small businesses (community banks fund more than 60% of small business loans and more than 80% of ag loans), but as locally owned and operated businesses themselves, community banks are part of the economic engines that create 62 percent of new jobs annually. That’s powerful.
Community banks like American Riviera Bank take in deposits and distribute loans that feed into a self-sustaining micro-economy and keep funds right here on the Central Coast. It is all part of a symbiotic relationship that community banks have with their communities. And the proceeds from those businesses employ residents, fund municipalities, and continue the cycle of locally based economic growth.
And if you need more proof just consider the community bank impact on local communities:
- Community banks outpace large banks in their average number of banks operating in both rural and urban markets by a 3:1 ratio.
- Community banks are preferred small business lenders, with an 81 percent net satisfaction score compared to 68 percent for large banks and just 43 percent for online lenders.
- Community banks operate in areas abandoned by others—serving as the only physical banking presence in nearly one in three U.S. counties.
But it is not just about stats. When clients contact American Riviera Bank, they are greeted by a talented team member who is attuned to their needs and empowered to act on their behalf.
And when our employees log over 3,000 volunteer hours in support of local organizations and when American Riviera Bank contributes over $400,000 to local nonprofits, we are working toward our goal to ensure economic prosperity for the community we call home.
April is Community Banking Month, and we want to thank our clients for putting their trust in us for their banking needs. For our neighbors who may be considering a switch, we implore you to take a closer look at American Riviera Bank to discover how we can help you realize your financial dreams.
At American Riviera Bank, we pledge to never lose sight of the all-important “relationship” and the personalized service our clients expect.
Remember, we are all in this together. Community banks like American Riviera Bank are only successful if our clients and communities are, too. That is why community banks and our relationship business model have thrived for more than 150 years. We know what it takes to create successful local economies. Join us in helping to build a more sustainable, vibrant economy here on the Central Coast.