The Importance of Relationship Banking
By Angela Price| Published May 10, 2023
I was recently asked throughout my banking career what I enjoy most? My answer, I enjoy helping the customer. I enjoy finding solutions that work for the customer. I enjoy being able to help a customer achieve their goals and dreams. I enjoy making a difference in my community. I find joy building relationships with my customers.
Many banks and credit unions define a banking relationship with how many products or loans a customer might have. At a community bank like First Community Bank, we define the relationship as the ability to earn a customer’s trust and friendship. We want to know about you, your business, your achievements, opportunities, and dreams. We want what is best for you!
You may be a long-time customer of a bank and not have a real relationship with them. For some people, transactional banking is all they need or want. A place to make a deposit or get cash when needed. However, have you ever had a question or concern that you needed help with? Who do you call? Do you have a relationship with your bank well enough to know the person on the other end of the phone? When transactional banking is not enough, it may be time to look at finding a bank with common values and goals to build a relationship with.
Local Relationship Banking comes with the following benefits:
- Having a personal contact within the bank to help you with your needs, especially in emergencies- day or night, weekday or weekend
- Having a team of individuals looking out for your best interests including business opportunities or solutions for growth and success
- Investment back into the community where you serve instead of to larger corporations
- Quicker decisions on loans and other solutions which means you get your funds faster
- Bankers who know your community because they live in your community
- Someone to greet you by name with a smile
I have the pleasure of visiting our many banking locations and it is exciting to me when I hear customers being greeted by name. I find joy visiting local businesses alongside my colleagues to build those relationships and watch their dreams become a reality. Finding a bank to build a relationship with is invaluable! If you are looking for a partner, I would love the opportunity for it to be with us at First Community Bank where our mission is to build our communities one dream at a time!