When people talk about where to keep their money, the conversation often circles around credit unions and banks. But let’s start with what makes community banks special – because they’ve been quietly powering families, small businesses, and neighborhoods for generations (for us, since 1859)!
What Makes a Community Bank Different
- Locally Owned, Locally Operated. Community banks like Bank Five Nine are rooted right where you live. Decisions about loans, accounts, and investments aren’t made in a distant headquarters – they’re made by people who know the local housing market, the rhythm of small-town businesses, and the real costs of living here in Wisconsin.
- Paying It Forward (Literally). Community banks pay federal, state, and local taxes. Those dollars flow back into schools, roads, public safety, and community programs. Every loan written and every account opened adds to the economic strength of the area.
- Relationships Over Transactions. At Bank Five Nine, we believe banking is about more than numbers on a screen-it’s about people. Community bankers don’t just know your balance; they know your story. It’s not unusual for families to work with the same banker across generations, through milestones like buying a first home, saving for college, or starting a business.
Those relationships are what set us apart. We care about the people who walk through our doors just as much as the accounts they hold. That commitment extends to our employees, too – we want them to feel valued and supported in the same way we want our customers to.
Take a quick watch of this short video featuring two of our West Bend branch employees sharing why they choose to work at Bank Five Nine: https://www.youtube.com/watch?v=Xqgy5awB8eE
- Full Service, Future Ready. From mobile apps to online bill pay, community banks offer the same modern tools as national players – with the added bonus of personal guidance when you want it.
Where Credit Unions Come In
Credit unions are also community-focused in their own way. They’re structured as member-owned cooperatives, and they don’t pay income taxes. That can sometimes mean lower fees or slightly better loan rates. Membership is often tied to where you live, work, or go to school. They serve an important role in the financial landscape – but the absence of taxes also means credit unions don’t directly fund local infrastructure the way community banks do.
Myth vs. Fact: Clearing Up the Confusion
Myth: Credit unions always have better rates.
Fact: Community banks compete directly – often matching or beating rates – and offer broader lending programs like SBA loans, jumbo mortgages, and business lines of credit.
Myth: Community banks are too small to offer modern tools.
Fact: Community banks provide the same digital conveniences – mobile banking, online bill pay, remote deposits – while still giving you real people to talk to when you need it.
Myth: Credit unions are the only “community-focused” option.
Fact: Community banks reinvest profits into sponsorships, charitable donations, and taxes that directly fund schools, parks, and infrastructure. Bank Five Nine donates over $200,000 annually to non-profit organizations right here in Southeastern Wisconsin!
Myth: Big financial moves require big banks.
Fact: Community banks finance everything from family farms to start-ups to first homes – often with faster, more flexible decision-making.
Why Community Banks Are the Strong Choice
For many families and businesses in Wisconsin, the difference comes down to impact:
- Community Investment. From sponsoring youth sports to supporting nonprofits and local events, community banks put resources directly back into the neighborhoods where their customers live and work.
- Small Business Focus. Local entrepreneurs count on community banks for lending that reflects seasonal cycles and hometown realities. Those businesses create jobs and fuel growth right where it matters most – close to home.
- Stability and Trust. Generations have turned to community banks to navigate economic ups and downs. That steady, long-term approach builds confidence and connection that lasts.
Choosing a financial institution isn’t only about rates or fees, though as mentioned, community banks like ours offer competitive rates and the full range of modern services you expect. It’s also about values, relationships, and the ripple effect of your dollars. With a community bank, your money works for you and strengthens your schools, your main street, and your town.
