I was at a bank product conference a couple weeks ago and heard this mantra over and over again: “people feel like they are giving something up in order to bank with a community bank.”
I’ve never really looked at community banking in this light because I work at the Bank. I know which products and services I need and First National has all of them. But, I suppose if you see banking as a commodity and you’re used to seeing ads for Chase/Bank of America/Wells Fargo and all the great products they offer, then perception is reality.
So, help me out. What is your perception of community banking compared with “mega” banks?