- Category: Current Issue
Where you choose to bank matters.
Your choice of bank is your vote on where your money goes. Are your hard-earned deposits reinvested back into our local community of Eastern Connecticut or are they sent off to a banking hub in another state or halfway around the world.
As more consumers realize the benefits of keeping their money local, I encourage you to think about how banking locally right here in eastern Connecticut can go a long way in helping our local community thrive.
For example, when you deposit funds into a community bank, you can trust that your money is being redistributed back into the area in the form of loans to fellow residents and entrepreneurs. This cannot be said for megabanks. Who knows where that money is going or what it’s powering?
As a local community banker and, of course, a resident myself, I see firsthand the positive power of community banking play out every day. At Putnam Bank, or any of the other strong local community banks in eastern Connecticut, we have the privilege of serving our residents and their families by making loans that help them buy a home, pay for a vehicle, or send a child to college — whatever it is, we’re there and happy to lend a hand. We also have the honor of serving many of our town’s small businesses through loans to help them get started, grow and succeed.
We’re also working with the next generation of entrepreneurs to help launch their exciting ideas and bring our community into the future. This is local money at work — a symbiotic relationship between bank and community that makes sense.
During April, which is Community Banking Month, I encourage you to think about where you bank and how your money has the power to make a meaningful impact on our community. Banking locally with a community bank connects you to your community and your neighbors and gives everyone a stake in its financial success.
You will see your local community bank as part of the fabric of everyday life in the community through the many organizations we support and our dedication to our communities. You won’t see us on the front page of every national or international scandal that emerges from the misfeasance or malfeasance that seems to drive the mega banks.
Making our communities better and stronger for us and those that follow is our sense of love of the community and is at our core. We hope you will join us in continuing to make eastern Connecticut thrive and prosper for years to come!
Thomas A. Borner
President and CEO ~ Putnam Bank