Choosing a financial institution isn’t just about low fees or a slick app. It’s about who invests in your future—and your neighborhood. Local banking offers intelligent options, convenience, and individualized service.
1. Supporting the Local Economy
When you bank locally, your money doesn’t disappear into a corporate maze. It stays in your community, funding small businesses, mortgages, and infrastructure projects. According to the most recent data from the Federal Deposit Insurance Corporation (FDIC), community banks and credit unions—despite holding only 15% of total industry loans—provide 36% of all small business loans. That’s a staggering contribution to local entrepreneurship.
2. Personalized Service
Big banks often rely on call centers and automated systems. Credit unions take a more personal approach. When you reach out, you connect with local staff who can listen, answer questions, and offer guidance tailored to your situation.
That direct interaction helps ensure your concerns are addressed quickly and decisions are made with a full understanding of your needs—not just based on a script or algorithm.
3. Lower Fees and Better Rates
Megabanks often offset overhead with monthly maintenance fees, ATM surcharges, and overdraft penalties. Credit unions and community lenders operate differently, focusing on lower costs, competitive rates, and access to shared branching and ATM networks that provide thousands of convenient locations—rivaling the reach of national chains.
The Consumer Financial Protection Bureau reports that “the largest credit card companies are charging substantially higher interest rates than smaller banks and credit unions.” That same pattern often extends to checking, savings, and personal loan products, giving members of local institutions a financial edge through lower borrowing costs and fewer account fees.
Community institutions have also embraced technology. Mobile-first platforms, fintech partnerships, and other digital tools make banking seamless—without losing the human connection behind every decision.
4. Community Involvement
Local banks and credit unions don’t just operate in your town—they invest in it. Many sponsor local events, partner with nonprofit organizations, and support schools through financial education and volunteer programs.
According to the Independent Community Bankers of America (ICBA), community bank officers are typically deeply involved in their local communities, helping to strengthen local economies and civic life. Credit unions, through the National Credit Union Foundation, fund youth financial education initiatives and mentoring programs that teach budgeting, saving, and credit skills.
This just goes to show that the benefits of community banks and credit unions extend far beyond financial services.
5. Accountability and Trust
Community banks and credit unions consistently earn higher marks for customer satisfaction and service quality. According to the 2025 American Customer Satisfaction Index, community banks scored 83 out of 100, compared with 79 for national banks.
Small business owners feel the difference, too. A recent Independent Community Bankers of America study found that two-thirds of small business owners prefer working with community banks over larger institutions and fintech lenders. That trust stems from clear communication, responsive service, and local accountability.
Credit unions also prioritize security and transparency. Strong data-protection measures and member-focused governance help ensure your personal and financial information stays secure while decisions remain centered on your best interests.
6. Unique Member Benefits
Community lenders offer perks national chains often can’t match—financial education, budgeting tools, and exclusive loan products. As member‑owned institutions, credit unions return profits to their neighborhoods through lower fees, better rates, dividends, and tailored programs.
The needs of actual members, not national averages, are the focus of workshops on college, retirement, home ownership, and saving. At every stage—first home, growing family, or caring for elderly parents—they provide plans and products that fit your goals.
Many now offer budgeting tools and online financial education, blending innovation with the personal service that defines local banking.
Bank Where You Belong—With Your Community
If you live, work, or worship in Canyon, Childress, Hereford, parts of Amarillo, or Deaf Smith County, TPFCU is your community credit union. Unlike banks, our mission is to serve members—not shareholders.
Open a checking account with no hidden fees and real dividends, or build your future with a savings account aligned with your plans—big and small. At TPFCU, every account supports both you and the place you call home. Start today: bank with people who know you best!
