Oct 19, 2022
It will soon be time for the national crowd to start encouraging you to support small businesses everywhere. While Buckeye Community Bank supports this sentiment wholeheartedly, the support of local businesses and the power of community are the foundation of our existence every day.
Our independent, community-minded bank celebrates its 1999 founding this month with the core principle of supporting local businesses, organizations, and residents. Since day one, Buckeye has been dedicated to ensuring the local community has access to financial resources it needs.
It matters where you bank. Buckeye remains the only local bank with community leaders and a focus rooted in relationships and the people to make things happen. When a community bank vanishes, much local capital is lost, reducing local spending, decreasing financial investment, and eroding community confidence. As community-focused institutions disappear through mergers, acquisitions, and closures, out-of-town banks remain, and alternative financial services emerge, making it more difficult and expensive to obtain traditional financing.
Larger banks often lack the relationship banking philosophy ingrained in the way Buckeye conducts business – making local decisions based on our deep market and client knowledge. Buckeye underwrites a wide range of business and consumer loans for clients who may not fit into the standardized formulas bigger banks use when making decisions.
Buckeye’s portfolio of highly localized loans has a solid track record. Community banks have a minuscule loan charge-off rate because they know who they are lending to, compared to megabanks, who collectively often have ten times the loan charge-off rate of community banks. This path has also been made difficult by federal officials. As monetary policies change to address inflation issues, regulators have issued numerous directives and rules that have increased the costs of community banking.
With exceptional customer service and ties to local values, Buckeye meets the financial needs of our community. Deposits at Buckeye stay local, contributing to our local businesses and community growth.
We celebrate Polen Implement on their 90th anniversary. Facing numerous challenges and opportunities over the decades, the family-owned company, founded by Thomas Polen and led by his son Dick, has remained stable. Like Buckeye, they have been able to safeguard their future by staying on track and preparing the next generation of leadership. Technology has changed rapidly in their sector, just like Buckeye’s, and they have adapted to it with an expert mindset to ensure it meets the needs of their customers, rather than just offering more bells and whistles.
We can promote the benefits of a community bank all we want, but we are nothing without ur clients and the community’s support. Buckeye’s lending of local deposit dollars is vital to our community by helping businesses to create jobs and investment in growth opportunities. Referrals and word-of-mouth from you are Buckeye’s best defense against the larger banks massive advertising budgets. Spread the word to your friends, family, and colleagues if you support Buckeye’s local mission. If you know of a business looking for financing or services, connect them with a Buckeye Community Banker. Your referral is the most valuable kind of marketing for Buckeye.
For our part, Buckeye Community Bank will continue to evaluate opportunities to generate new connections and meet local needs. We look to grow our reach to help more area businesses achieve success by continuing to enhance our digital and in-person experiences. It is a true honor for us to be your partner today and in the future.