top button
Flag Notify
    Connect to us
      Site Registration

Site Registration

What is community banking and how does it work ?

+1 vote
What is community banking and how does it work ?
posted Jun 1, 2017 by Shashi Roy

Share this question
Facebook Share Button Twitter Share Button LinkedIn Share Button

1 Answer

0 votes

A community bank is a depository institution that is typically locally owned and operated. Community banks tend to focus on the needs of the businesses and families where the bank holds branches and offices. Lending decisions are made by people who understand the local needs of families, businesses and farmers.

Community branches provide full banking services, including business banking, plus:
- Long-term commitment to the local community
- Local employment opportunities
- Branch managers and staff who live in and are involved in the community
- Opportunities to attract further business to the community
- Potential for substantial funding for community organisations, charities and projects through distribution of profits in the form of grants

answer Jun 1, 2017 by Salil Agrawal
These are ordinary govt and private banks or are they something different in terms of interest  rates and process they follow. Someone asked me about community banking and I was not aware. I cant get exact reply online too.
In short these are the banks which are driven and operated by the community. People from community are its employees, they take the deposit from the community (in cases they get external support too) and lends money to community people only.

Its a sort of co-operative society dealing in banking activity...
Hey I'm sorry . I want to know about community banking for a new born baby that is done in hospital after delivering baby.
That is Community Stem Cell Banking not community banking, please post a fresh question for that...
ok thanks.
Similar Questions
+1 vote

Kindly explain me on community stem cell banking and how does it work and it's importance ?

+1 vote

I heard most of the banks are going to start UPI service. My question what it is and why it is being launched ?