The simplicity of local banks is what more and more people want to return to in the future, to ensure that their bank understands the local community. As confidence in the banking system hit an all time low, people want other options for their money. They want to see banks investing time in the community, and reaching out to people to build relationships.
Larger banks are continuing to struggle as average people have lost all faith in what they have been told over the years. Banks need to begin to focus on the real economy, and the people that will make it a stronger organisation. Local banks have proved that they work, and other countries are successfully changing to this method of banking.
There is something far more personal about dealing with a smaller bank, and confidence will grow far quicker. When banks serve their local community, people feel confident in their abilities, and want to share every aspect. People want the bank to build a quality relationship, and understand what they need from the bank in the future.
This style of banking does not come without faults and issues, but people are more confident when the bank is smaller, and more community based. It will take many years for the confidence to be rebuilt, but it is not impossible by any stretch of the imagination. With time and effort, the banks can begin to rebuild, and move forward.
This post is sponsored by Spreaditfast