Guest column: Your local banks merit continued support
Local community banks are well capitalized and continue making loans in your community. Deposits are insured by the Federal Deposit Insurance Corp., now with limits up to $250,000. No depositor has ever lost a nickel from an FDIC-insured account. These banks are mostly owned and controlled by local...
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| Published in | Maryland gazette (Glen Burnie, Md. : 1973) |
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| Main Author | |
| Format | Newspaper Article |
| Language | English |
| Published |
Glen Burnie, Md
Tribune Publishing Company, LLC
05.11.2008
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| Online Access | Get full text |
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| Summary: | Local community banks are well capitalized and continue making loans in your community. Deposits are insured by the Federal Deposit Insurance Corp., now with limits up to $250,000. No depositor has ever lost a nickel from an FDIC-insured account. These banks are mostly owned and controlled by local shareholders. With an FDIC-insured account there really is not anything to worry about. If the money is in your mattress or "hidden" it is not insured and exposed to all kinds of risk. These banks will consider loans that are too small for or are otherwise not interesting to the larger regional or national- oriented banks. The community banks know their customers, know their customers' needs and will go that extra mile to help, sometimes even making what are known as "character loans." |
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