Community banks have the edge on local business banking needs

Oak Bank 02287

During the pandemic, we have seen how community banks have an edge when changing the way consumers bank digitally. Big brands like Amazon and PayPal may have a size advantage with these trends, but Oak Bank’s clients have relied on their local business bankers knowing and assessing their financial needs and concerns to best integrate digital banking tools into their lives.

“As community bankers, we develop strong relationships with our business clients and a deep understanding of their business,” says Terry Taylor, president of Oak Bank. “As a result, we are generally more sympathetic, flexible, and willing to provide the support needed to help a small business client. Our community bankers take great pride in helping existing small business clients during a time of need.”

Over the last 21 years, we have extended our roots throughout Fitchburg and the Greater Madison area, helping local businesses succeed and add value to the community. Because when our business banking clients succeed, so does our community.

“Your money gets put to work by Oak Bank,” said Jim McNulty, senior vice president of business banking. “We support local businesses and individuals with those funds, growing employment and community services close to where you live and work.”

Though many banking services have gone virtual due to the pandemic, our business bankers create meaningful relationships with clients by working together whenever possible and maintaining a personal touch.

2021 Business Bankers Group Shot F1“We’ve seen fast adoption of electronic banking services by our clients as a result of the pandemic,” notes Taylor. “Clients use online and mobile banking to access account information 24/7, make deposits with their phone, and send money using consumer-to-consumer payment services such as Zelle. Even with the increased use of everything digital, clients still value personal relationships and visiting with their bankers in person when seeking solutions to complex issues. This is typically impossible when working with a large national bank or a fintech company.”

Community banks, like Oak Bank, invest client deposits back into the local community. Money dispersed throughout the community supports families, businesses, and pertinent needs for everyone.

“It allows our community to remain healthy, vibrant, and competitive,” explains Linda Zimdars, senior vice president of business banking. “I believe that shopping local and supporting the small businessperson, which is the backbone of any good economy, is key to maintaining Main Street businesses and working toward a robust local economy.”

Community banks are vital in our economy. We have the local expertise and focus to understand our clients’ needs, assess their strengths and weaknesses, and create a team of individuals ready to make an impact.

“As business bankers, we are responsible for working closely with small businesspeople and being a part of their team — like their accountants, consultants, and attorneys,” says Zimdars. “We are here for the ups and downs and will go to great lengths to help businesses be successful by thinking out of the box.”