Community banks
Encyclopedia
A community bank is a depository institution
Depository institution
A depository institution is a financial institution in the United States that is legally allowed to accept monetary deposits from consumers...

 that is typically locally owned and operated. Community banks tend to focus on the needs of the businesses and families where the bank holds branches and offices. Lending decisions are made by people who understand the local needs of families, businesses and farmers. Employees often reside within the communities they serve.

In the United States, community banks are defined as independent banks and savings institutions and bank and savings institution holding companies with aggregate assets less than $1 billion. From 1985 to 2004 they comprised 94% of the banking industry.

See also

  • U.S. Federal Deposit Insurance Corporation
    Federal Deposit Insurance Corporation
    The Federal Deposit Insurance Corporation is a United States government corporation created by the Glass–Steagall Act of 1933. It provides deposit insurance, which guarantees the safety of deposits in member banks, currently up to $250,000 per depositor per bank. , the FDIC insures deposits at...

  • Credit unions in the United States
    Credit unions in the United States
    Credit unions in the United States served 89 million members as of 2008, comprising 43.7% of the economically active population. U.S. credit unions are not-for-profit, cooperative, tax-exempt organizations....

  • Mutual savings bank
    Mutual savings bank
    A mutual savings bank is a financial institution chartered by a central or regional government, without capital stock, that is owned by its members who subscribe to a common fund. From this fund claims, loans, etc., are paid. Profits after deductions are shared between the members...

  • Regional bank

External links

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