The Power of Reinvesting in Our Community

Reinvesting in your community sounds great, but how does one really put that into action? 

If you’ve ever wondered if it matters where you deposit your hard-earned money, let us assure you it does. Not only does banking locally support small businesses (community banks fund more than 60% of small business loans and more than 80% of ag loans), but as locally operated businesses themselves, they are part of the economic engines creating 62 percent of new jobs across the U.S. That’s powerful. 

Community banks like Plumas Bank take in deposits and distribute loans that feed into a self-sustaining micro-economy and keep funds right here in northern California and northern Nevada. It is all part of a symbiotic relationship that community banks have with their communities. And the proceeds from those businesses employ residents, fund municipalities, and continue the cycle of locally based economic growth. 

And if you need more proof just consider the community bank impact on local communities:

• Community banks outpace large banks in their average number of banks operating in both rural and urban markets by a 3:1 ratio.
• Community banks are preferred small business lenders, with an 81 percent net satisfaction score compared to 68 percent for large banks and just 43 percent for online lenders. 
• Community banks operate in areas abandoned by others—serving as the only physical banking presence in nearly one in three U.S. counties.

But it is not just about stats. When clients contact Plumas Bank, they are greeted by a talented team member who is attuned to their needs and empowered to act on their behalf. 

Plumas Bank Director, President and Chief Executive Officer, Andrew J. Ryback, advocates for the role community banks serve to support local economies. “April is Community Banking Month. It’s a good time to thank our clients for putting their trust in us for their banking needs. When you choose Plumas Bank you choose to invest in your community. By buying and banking locally, you make a real difference in the economic strength of your community.“

And when our team members log volunteer hours in support of various local non-profits or when Plumas Bank contributes to local and regional causes, we are working toward our goal to ensure economic prosperity for the communities we call home.

 

 

 

 

Ryback added, “It’s exciting and very fitting to share that during Community Banking Month in April, we are building a better community by investing in the Chico, California community and opening our 15th branch. We look forward to supporting strong relationships with Chico businesses and making a positive economic impact for the region.” The Plumas Bank Chico full-service branch opens mid-April.