There’s more to banking than
the bottom line
In today’s competitive financial services environment, a bank that actively reaches out to all parts of the communities it serves can develop strong, lasting, and mutually profitable relationships. By promoting community self-sufficiency and economic development, a bank can strengthen its own prospects for long-term success.
The formula — community involvement = competitive edge — sounds simple. But of course you can’t just wave a wand and make local economic development happen, particularly in lower-income communities struggling with long-standing problems. Revitalization takes patience, planning, and perseverance. You have to be in it for the long haul. Your bank must work closely with community leaders and residents, and must have a sound structure within which to channel funds and expertise to targeted economic development initiatives that serve lower-income households, small businesses, and community infrastructure needs.
Full story.
|
