What is a
Community Bank?

If you’re in the market for a new banking relationship, you may be considering a community bank. Community banks offer some benefits and advantages that big banks don’t provide. Learn more about how to bank in Minnesota and help ensure that you are supporting the community where you live and work.

Find a Community Bank Near You

Education & Resources

Funding the Heartland: How Minnesota Community Banks Shaped Ag Lending

Learn how community banks in Minnesota have supported the ag industry.

The Vital Role of Minnesota's Community Banks in Supporting Small Businesses

See how community banks have supported small businesses in Minnesota.

Breaking Free from Big Banks: Discover the Advantages of Community Banking

Learn more about what sets a community bank apart from a big bank

How Minnesota's Community Banks Drive Local Impact

Minnesota's community banks are vital to the communities they support.

Q: What is a community bank?

A community bank is a financial institution that operates locally and focuses on serving the needs of individuals, small businesses, and communities within a specific geographic area. These banks are often owned and operated by members of the community they serve.

Q: How are community banks different from larger banks?

Community banks differentiate themselves from large banks by their emphasis on personalized service, local decision-making, and community involvement. They typically have a deep understanding of the local market and are more accessible to customers, offering a more  personalized banking experience.

Q: What services do community banks offer? 

Community banks offer a wide range of financial services similar to larger banks, including checking and savings accounts, loans (such as mortgages, personal loans, and small business loans), credit cards, investment services, and online banking options. Some community banks also specialize in niche services tailored to their local customers’ needs.

Q: How do community banks support local communities? 

Community banks play an essential role in supporting local communities. They often reinvest a significant amount of their deposits back into the local economy through loans to local businesses, which helps stimulate growth and create jobs. Community banks also contribute to community development initiatives, sponsor local events, and participate in charitable activities.

Q: Are deposits in community banks insured?

Yes, deposits in community banks are typically insured by the Federal Deposit Insurance Corporation (FDIC) up to the maximum allowed by law. This insurance provides peace of mind to customers, protecting their deposits in the event of a bank failure.

Q: Can I access my accounts and banking services online with a community bank?

Yes, many community banks offer online and mobile banking services, allowing customers to access their accounts, make transfers, pay bills, and manage their finances conveniently from their computers or mobile devices. Community banks strive to provide modern banking technology while maintaining a personal touch.

Q: How can I benefit from banking with a community bank?

Banking with a community bank offers several benefits. These banks prioritize building relationships and providing personalized service, often offering competitive interest rates, lower fees and a more customer centric approach. Additionally, by banking with a community bank, you contribute to the growth and development of your local community.

Q: How can I find a community bank in my area?

Visit the online search to find a BankIn Minnesota member bank near you.