SMALL TOWN BANKS

[Trophied]

FYI. Interesting experience regarding financing a used motorhome to go full time RV in, since we sold our house for MUCH more than we owe on it. After pursuing multiple opportunities that for one reason or another decided not to finance the coach of our choice (coach of our choice being the operative term here) my wife finally called a small local bank (not the one we use) in the relatively small but fast growing town where we live, and the answer was, "yes we can take that on based on your information and you providing documention on the information you submit on the application". Comment from the loan officer was "we're a small town bank and have flexibility on case by case loan decisions". From the initial information we provided, after checking with underwriting, in minutes she called and didn't think there were any reasons that they bank would not do the financing on the date we were requesting which would be the following Monday after we closed on our house and had no other debt whatsoever. Completely different attitude from all the other big RV financing companies. Pays to do business at home when you can, and the smaller your town is the better! We'll now have an account there to fund an autopay for the note and life will be good. I can't say as I miss Houston. Hope everyone keeps their business close to home!

 

[jds holler]

Small town banks and local credit unions get my business. I've got no use for "Big Town ANYTHING" jd

 

[rachjake]

Seems like as soon as I find one, it is bought out.

 

[butchlambert]

All of our small town banks have been devoured!

 

[Kracken McGraw]

All of our small town banks have been devoured!

And all the people that I trust are retiring out of them.

 

[1911nut]

All of our small town banks have been devoured!

My small town has a locally owned bank and a Savings and Loan, Locally owned, good deposit rates for what they are. We have a local Credit Union that does a lot of loans.

 

[Fuj]

Credit Union guy here.

 

[LuvDog]

When I started my first real job I joined the credit union. over 3 decades later and I’m still using them as my slush fund. We moved so it wasn’t convenient to keep it as the primary because online banking wasn’t a thing back then. We use a small local bank that just has branches in our county.

 

[KMart]

And all the people that I trust are retiring out of them.

Life ain't the same when you outlive your dentist, doctor, mechanic, insurance agent and tax man. Starting over sucks.

 

[bluealtered]

Our small town banks are trying to stay open, some haven't.

 

[Pawnee Bill]

When I bought my last house, I went with the local bank, because I felt that doing business with the local bank was the all American thing to do and if I wanted anything, I could just pop in and take care of it. Well about 6 weeks after I closed on my house I get a letter from some mortgage outfit I never heard of, seems that my hometown local good guys bank had sold my mortgage to some big out of state mortgage conglomerate. So much for using the home town boys. No loyalty on their home town part, none on my part.

 

[butchlambert]

My biggest complaint is lack of customer service with the biggies, bank or otherwise.

 

[NorCalMikie]

Parted company with Wells Fargo and Bank of America because they couldn't be bothered to take care a ME and my $$$. May have got their attention when I pulled over $100K ea. out of Wells Fargo and Bank of America??
My local bank (since 1909) doesn't have any problems taking care of me and my $$$.
Most of the old timers have since retired and the younger "kid" that is handling my investments didn't want to shake my hand (too much Grape Kool Aid) so I'll have to think real hard on that subject.
Put some $$$ in a local Credit Union that went fine for a while. Called and asked a question but couldn't get a straight answer concerning MY $$$ THEN, found out someone had just bought them out??
Took me maybe 10 minutes to take MY $$$ out of the Credit Union and move them down the street to my local bank. You don't take care of me? You don't need MY business. Just maybe us "little guys" do count?

 

[butchlambert]

A big problem for me is they want all kind of corporate paper work and an incredible amount of other paperwork to open an account. I have 6 accounts and I just don't understand. My old bank only wanted name, address, and phone numbers. They gave me a few checks and deposit slips until my new ones came in.

 

[Fuj]

When I bought my last house, I went with the local bank, because I felt that doing business with the local bank was the all American thing to do and if I wanted anything, I could just pop in and take care of it. Well about 6 weeks after I closed on my house I get a letter from some mortgage outfit I never heard of, seems that my hometown local good guys bank had sold my mortgage to some big out of state mortgage conglomerate. So much for using the home town boys. No loyalty on their home town part, none on my part.

Most do that. I was on a bi-weekly payment to have an early payoff.
I got a letter stating that the new mortgage company does not have
a bi-weekly system. I said "WHAT" ?? Bank manager informed me
I could restructure, and there in, is the game they play. The credit
union I also belonged to said I could transfer the note to them, since
I had built up equity. Did the deal, and dropped 2 percentage points.

 

[butchlambert]

When I bought my last house, I went with the local bank, because I felt that doing business with the local bank was the all American thing to do and if I wanted anything, I could just pop in and take care of it. Well about 6 weeks after I closed on my house I get a letter from some mortgage outfit I never heard of, seems that my hometown local good guys bank had sold my mortgage to some big out of state mortgage conglomerate. So much for using the home town boys. No loyalty on their home town part, none on my part.

That is commonplace now.

 

[Catfur]

Several small towns I’ve lived in, if you ain’t part of the Town Father’s “club,” the local bank ain’t got time for you (especially for commercial banking).

They use their control of the banking scene to keep all the local commerce as much under their control as possible.

May your mileage vary.

 

[butchlambert]

Several small towns I’ve lived in, if you ain’t part of the Town Father’s “club,” the local bank ain’t got time for you (especially for commercial banking).

They use their control of the banking scene to keep all the local commerce as much under their control as possible.

May your mileage vary.

My mileage varied!

 

[Downhill]

Our small town bank has been bought and sold three times in 10 years. The new outfit charges a $5.00 a month paper statement fee. I visited with the bank president because I feel this will affect our senior citizens who do not do online banking and will not be inclined to do so. I explained with these people being on fixed incomes there needed to be an exception at retirement age. He said it was out of his hands and a corporate decision. I then closed four accounts and moved my money to a credit union. Complete 180 degree difference in how the customer is treated. Should have moved a decade ago.

 

[gunsandgunsmithing]

A small town bank helped me out of a jam in January. Long story but I called my banker on a Friday afternoon, on which they were closed for snow, and we close a half million dollar mortgage loan on that following Monday at 2:00 pm!!! You maybe....but I couldn't have made that happen in a dream, without my small town, locally owned bank!