By George Weisz
Chairman
Scottsdale Community Bank
Weisz is also a Scottsdale resident
The national bank advertisements and branches are everywhere. You encounter continuous solicitations by them on TV, cable, your laptop, iPad, and cell phone. While big banks certainly have a role in the financial eco-system, is there a better way for you to get enhanced personal service and also keep your money working within your own community?
Yes.
That’s why, as people very involved in our community, we organized Scottsdale Community Bank. Now celebrating our third year, we have been ranked as the second fastest growing bank in deposits in the Valley–including national, regional, or local banks—because people are increasingly understanding the value proposition of banking locally.
And, this is why we enthusiastically support the visionary, pre-eminent statewide organization for our small business community named “Local First Arizona.” For many years its goal has been to help individuals, businesses, and entire communities take control of their financial future. Local First Arizona fosters improving access to capital for small businesses, and it notes that “locally owned financial institutions re-invest in people, businesses, and neighborhoods that make our state thrive. That means more loans for local businesses, more community-driven development and better financial services tailored to local needs.”
To showcase this local bank accessibility, Local First Arizona held one of its “Move Your Money” summits on April 30th.
Besides the benefits to our local economies, local banks offer a human side that is very real and very meaningful. Our clients have found that a locally owned and locally managed bank combines cutting edge technology (equal or better than the big guys) with real relationship banking. For example, at Scottsdale Community Bank, every client has my cell phone number and that of our bank President to use 24/7/365. And, when anyone calls our bank, you reach a real, live person, not an unending set of robotic menus or non-sensical, wasteful “chats”. This is the way that banks should operate.
We also serve our community with “microloans.” In essence, there is no loan too small. In our friendly living room type lobby, you will see a model of a lemonade stand which reminds us where many business people (including me) got their start. It may mean a hair stylist who simply needs a new salon chair, a law firm expanding its office, or a non-profit that needs a new vehicle. And, being locally managed, we can pull together our loan committees within 48 hours, so that clients can quickly make decisions in their ever-changing lives. Speed in banking is vital. Local knowledge can best lead to these wonderful outcomes because we, and others like us, aren’t dictated by out-of-state algorithms and corporate mandates. While going local means helping small for-profit businesses like hair salons, tech start-ups, realtors, and growing medical offices and law firms, it also means helping local area non-profits, a particular emphasis of ours.
Patriotism can take many forms and is more associated sometimes with country not community. Let’s rethink that because by repatriating dollars to small locally owned businesses closest, nearest, and dearest to our homes, we can make a big deposit with an incalculable rate of return for our residents.