How Community Banking Professionals Can Help You
Community banking is a non-traditional form of money-lending. Unlike banks or other classic lending institutions, the funds that community banks lend to borrowers are gathered by the local community itself. This tends to mean that the individuals in a neighborhood or group have more control over who is receiving the capital and how that capital is being spent. Community banking is a form of empowerment-based economics which falls under the larger umbrella of micro-finance. Micro-finance as a whole is focused on the entrepreneurship of individuals, generally with a goal of lifting low-income or disadvantaged groups out of poverty and providing the means for them to prosper.
You as a business can help your community by going into community banking. All funds that are stored or put away are by the community itself, so you as a bank don’t need any money, you are simply the intermediary for all the funds. For example, someone who wants to put in their money to store, you keep it, then someone else wants to withdraw some funds, you can use the money that people have put in to store to give this person their funds. For more assistance with this you can ask any one of our freelancers for hire at Guru.com.