If you're looking for an edge with your savings, the interest
rates at community banks are also usually higher than the big banks.
Borrowers are finding that getting a foot in the
door at community banks and smaller regional banks is no easy task in a sector where relationships are more important than ever.
However, if your goal is to forge a personal relationship with the bank, you can achieve that
easier at a community bank, Schreiber says.
In a report made in October 2015, nearly three years after a Los Angeles Times investigation uncovered the scandal, Tolstedt «minimized and understated
problems at the community bank.»
One type is a loan that gives you the cash upfront, but it secures the credit builder loan with money that you have
deposited at the community bank or credit union in your savings account or via a certificate of deposit.
But compliance
costs at community banks have risen an average of 14 percent year - over-year to maintain pace with regulatory demands.
I typically pay all cash and do not borrow this was actually my first loan not with a Community
bank at Community bank rates in my entire career as I was always the lender LOL... But all in all it mitigated our total exposure to rates and given the product we bought in Dallas the COC returns make it worthwhile to jump through the hoops.
At a community bank you are more likely to be treated as more than just an account number.