Community banks take in local deposits and redistribute them back into the community—consistently making more than 60% of small-business loans and more than 80% of agriculture loans. They also contribute tax dollars that help maintain local municipalities and keep local neighborhoods viable and strong because serving the best interests of their customers is fundamental to their business philosophy.
What sets community banks apart?
- Community Banks are America’s most trusted lenders, earning a 76% satisfaction score compared to 62% for large banks, 46% for finance companies and 39% for online lenders, according to a Federal Reserve Study.
- Community Banks are committed lenders with loan growth that has outpaced noncommunity banks for nine years. Did you know Lincoln Savings Bank was Iowa’s #1 SBA (7a) Lender in 2021?
- Community Banks demonstrate safety and soundness with higher capital ratios and better loan quality than the largest institutions.
- Community Banks offer high-touch, high-tech service. This gives consumers access to modern-day conveniences and technical capabilities while maintaining the personal service for which community banks are known.
- Community Banks have a track record in helping underserved Americans by providing greater flexibility to low-income and minority borrowers. Community banks serve 93% of majority-minority communities and 96% of low-income designated counties. Lincoln Savings Bank was one of the top Iowa Finance Authority lenders in 2021.
- Community Banks understand and embrace local small businesses. In fact, community banks made 60% of total Paycheck Protection Program loans to small businesses and provided 72% of PPP loans to minority business owners that reported such data. Lincoln Savings Bank made 2,047 PPP loans.
- Community Banks give back to their communities. Civic service is a way of life for Lincoln Savings Bank and other community bankers. Our employees spend countless hours giving back through random acts of kindness we like to call Lincoln Love.
How is Lincoln Savings Bank celebrating Community Banking Month?
- In conjunction with Autism Awareness Month, we’ll be distributing SMACK packs that benefit Every Piece Matters. Every Piece Matters is a non-profit organization dedicated to Autism Awareness, education and promoting the equality of those living with Autism.
- We’re taking the Polar Plunge to benefit Special Olympics Iowa. The plunge takes place on Saturday, April 9 at George Wyth State Park.
- Our branches collected care package items for USS Abraham Lincoln. USS Abraham Lincoln (CVN-72) is the fifth Nimitz-class aircraft carrier in the United States Navy. On April 1, 2019 USS Abraham Lincoln was deployed to the Middle East as the flagship for Carrier Strike Group 12 and Carrier Air Wing Seven.
- We’re celebrating National Pet Day on April 11 by donating items to our local humane societies. We encourage you to celebrate too by checking out the animals available for adoption at Cedar Bend Humane Society, Tama County Humane Society, Poweshiek Animal League Shelter, Aheinz57 and C&W Rustic Hollow Shelter.
- Our branches collected items for Catherine’s Cabinet, Mercy College’s student food bank providing supplemental support to students who are facing food insecurity and need assistance.
As we recognize April as Community Banking Month, we want to thank our existing customers and urge those who we hope to count as future customers to consider what it means to bank locally and help sustain our communities today, tomorrow and for generations to come.
Check us out on Facebook or stop by one of our locations this month to say hello or find out how your local branch is celebrating Community Banking Month!
