 TITLE: What Is a Community Bank? CONTENT: Comparing Community Banks and Big Banks\n---------------------------------------\nHow do you decide which is a better fit for you and your priorities? Here are a few ways of thinking about the differences between community banks and their more traditional counterparts.\nYou might prefer a big bank if these factors are important to you:\n*   **Nationwide network**: Branches and ATMs around the country.\n*   **Mobile and online experience**: Including things like digital financial assistants or automated loan applications.\n*   **Broad range of financial products**: Different credit card programs, elite investment services or international money exchange, for example.\n*   **Efficiency vs. personality**: You're comfortable being anonymous.\n*   **Ubiquity**: Travel or frequent moves make it important for you to bank at a financial institution where your location won't be a factor.\n*   **Size**: If you like a bank that's \"too big to fail,\" these are your banks.\nYou might prefer a community bank if you value:\n*   **More personalized service**: You actually visit the branch and prefer to know your bankers.\n*   **Community focus**: A bank that is based in and invests in your community.\n*   **Relationship banking**: While this is a marketing term used throughout the industry, at a community bank a strong relationship could help you secure a loan for your home or small business.\n*   **Less emphasis on technology**: Some community banks may lag a bit here, but many others are ahead of the game. Be prepared to shop for the technology you want.\n*   **Basic needs**: Checking, savings, loans and credit cards at favorable rates are all you really need.\n*   **A good fit**: At its best, community banking can provide all the services you need plus bankers who actually care about promoting your financial well-being or helping you grow a business.\nCommunity banks aren't the only alternatives if you're looking for a smaller-bank experience. Like community banks, not-for-profit credit unions often have favorable rates on savings, loans and credit cards. Many also participate in a national shared branch network and the CO-OP ATM Network with 30,000 surcharge-free ATMs nationwide.\nDigital banks are also on the rise. What online-only banks like Chime and Axos lack in human interaction they can make up for in digital tools and features like faster deposits as well as potentially higher interest rates on savings accounts.\nAs you shop for a bank, also think about the \"banking\" you do outside your bank. You may use outside lenders or credit cards. You may pay friends with Venmo, invest using Robinhood and maintain a 401(k) through your work. If so, which services do you really need from a bank? Your list may be short. END