Do you run a community bank? If so, you should know that partnering with a bankers' bank is a very smart move. Bankers' banks are exactly what they sound like. They're essentially banks for bankers. In other words, they provide various helpful services and support to other banks. Having one in your corner can be extremely helpful. Thus, no matter the size of your bank, if you're not partnered with a good bankers' bank, then you're likely missing out on a lot of nice advantages.
Develop A Competitive Presence
As a smaller bank, you may not have the resources to offer all the services your clients may want, such as large loans, certain protections, and other options. However, when you partner with a bankers' bank, you can expand your offerings. This can make your bank much more competitive and can give it a chance against other banks, including large, national ones.
Many consumers absolutely love the idea of a community bank but need more services than they can provide. When you partner with a bankers' bank, you give your clients and prospective clients the best of both worlds: the friendly, personalized service of a community bank with all the options and opportunities of a much larger bank.
Enjoy Affordable Rates
Often, community banks are interested in the services that a bankers' bank can provide, but they worry that they couldn't possibly afford them. Thankfully, though, if you find the right bankers' bank, this does not have to be the case.
Most of these institutions are aware of the financial limitations of smaller banks. That's why they tend to offer reasonable pricing. At the very least, you can check up on rates and pricing before just assuming you can't afford to partner with a community bank. Chances are that you will be able to find an option that can work for you.
Trust Your Partner Bank
Finally, you will be glad to know that you will not be competing with the bankers' bank you partner with. Thus, you don't have to worry about the bank stealing your clients or misusing your information. These banks only work with other banks just like yours. As such, they have no reason to try and take on individual clients. They exist only to help and serve other banks, so you can breathe a sigh of relief with a partner you can trust.
For many smaller banks, a bankers' bank is just what they need to survive or even thrive. If you're interested in this option, look into different possibilities. With a little effort, chances are that you can find a bankers' bank that is willing to assist and empower your organization.