Community Bankers

From a business owner's perspective, I am becoming more and more fond of community banks.  I actually had dinner with my bank's president last night and I felt like I was talking to one of my friends.  For so long, I was using bigger regional or national banks and I really don't know why. They always made me fell like I a number.  I would cringe anytime I needed some banking information or god forbid a loan.  Every time I called PNC, I would be directed into a 10 minute minimum phone directory chain with endless pin numbers and passwords.  All this time spent just to hear the computer generated voice say I need to jump through another hoop. I want a banker who knows me and a place where a human being picks up the phone when I call. I am selfish in that I hope my community bank stays a secret so that I can keep getting this great service and more importantly great relationship. Unfortunately for me, I don't think it will stay a secret long because word will get around that the team at Main Street bank is committed to being responsive to their clients. If my business is ever in a bind or if I need clarification on a banking policy I know I have someone who I can call who at least knows who I am and will give me a straight answer.  I believe I have spent far too much time with the wrong banks.


I recently heard the following statement, "if you are going into business, you need to align yourself with a good accountant, lawyer and banker."  I think most business people overlook the importance of a trusted banker.  I identified with the statement because I sometimes feel the same way when explaining why it is makes all the sense in the world to do your estate plan with an attorney you like and who wants to create an ongoing relationship with you.  If you don't get along with the attorney, how do you expect your family to get along with him/her? The family and the attorney are ultimately going to have to work with one another at some point (unless you plan on living forever in that case it does not apply to you).  For those who want to risk all their wealth and love for their family on a downloadable form, good luck. You get what you pay for as I see instances everyday of poorly thought out plans with little to no follow-through by either side.  When I heard the statement quoted above from the CEO of my community bank, it occurred to me how many business people miss the simple point that a relationship with the right banker is just as important to your business as working with the right accountant or attorney.  I missed the point for many years so it should not be a surprise if it doesn't automatically click for others.

As a business owner, the lesson I learned is that I should not expect everyone to automatically get my business' mission of  'creating plans that work'.  Sometimes I would wonder what I was saying wrong because I felt that people did not perceive the value we are providing. How we are so different from most of the competition because we simply have a maintenance plan with our clients to keep their plan updated with changes in the law and family.  As the CEO of my company, I just need  keep our message clear and our team focused on our clients.  Eventually it will click for other people just like it clicked for me.  At least that is what i am hoping. . .

This blog is not intended to be used as legal, tax or financial advice.