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Community Banking Month 2023

Union State Bank Celebrates Community Banking Month

April is Community Banking Month, a time to recognize and celebrate the important role that community banks play in their local economies. The designation of Community Banking Month was established by the Independent Community Bankers of America (ICBA) in 2007 to raise awareness of the unique and valuable services provided by community banks.

Community banks play an important role to local economies. According to the ICBA, there are over 5,000 community banks in the United States, serving over 2,500 counties. These banks hold more than $5 trillion in assets and employ over 700,000 people. Additionally, community banks are often the only financial institution in many rural areas, providing essential services to individuals and businesses that would otherwise be underserved.

“We at Union State Bank are proud to continue the community bank philosophy which began when we were founded in 1908. From our smallest branch in Udall (Kansas) to our metro locations in Wichita (Kansas) and Edmond (Oklahoma) we have made it a priority to be a good community partner in all our markets,” said Eric Kurtz, Union State Bank’s President and Chief Executive Officer.

Community banks are typically smaller in size than large national chains and focus on building relationships with their customers. Financial experts note that community banks offer personalized service, local decision-making, and a deep understanding of the local economy and its needs. The ICBA reports, community banks provide more than half of all small business loans in the United States and are responsible for creating jobs and driving economic growth in their communities.

“There is a common misconception that community banks can’t provide the same quality of products and services as our larger counterparts, particularly when it comes to commercial banking, exclaimed Amber Groene, Union State Bank’s Vice-President and Director of Treasury Services. “I would argue the opposite, while we may not have the ability to fund every project, instead we are committed to knowing our customers’ businesses helping them grow through our highly experienced team of officers and a full line of treasury service products that we custom tailor for each businesses’ unique needs.”

Industry experts and community bank leaders emphasize the value of these institutions to their local communities. According to Rebecca Romero Rainey, ICBA President and CEO, ““As community bankers, we know relationships matter. Our actions in support of local schools, nonprofits, businesses, and other community institutions make a difference, and when our customers see our commitment to our communities, it deepens their connection with us. These are the stories worth telling, the ones that show our commitment to our communities and the people in them, and they extend far beyond the banking relationship.”

Community Banking Month is an important time to recognize the role that community banks play in supporting their local economies. These institutions provide essential services to individuals and businesses, create jobs, and drive economic growth. As we celebrate Community Banking Month, let us remember the vital importance of community banks to our local communities and support their continued success.

About Union State Bank: Founded in 1908, Union State Bank has banking locations serving communities of Arkansas City, Newton, Udall, Winfield, and Wichita in Kansas and in Bartlesville and Edmond, Oklahoma. Union State Bank offers a full range of electronic, deposit and cash management services, as well as business and agriculture, commercial real estate, construction, mortgage, residential and consumer loans. Member FDIC. Equal Housing Lender, NMLS# 412388.