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3 Reasons You May Want to Switch Banks


We get it. Switching banks can be a hassle for a number of reasons. Maybe you have direct deposit set up with your employer, or you’ve opted for automatic bill pay. Scanning through your account with a close eye to ensure you’ve taken care of any changes before making a switch can be taxing.

Switching banks may be more important now, as some of the big-name banks are closing their brick-and-mortar locations and moving to a remote status. Switching to a community bank could be in your best interest!

As your neighbor and local lender, Highlands Community Bank is here to offer you all the support you need. Here are three major reasons why you may want to consider switching to a community bank like ours!

The Personal Touch of Branch Locations

According to FDIC data, there were 8,000 commercial banks in the United States in 2000. As of March 2022, only half of those banks were still standing. The bank closure trend continues to this day, and it’s happening in large cities and rural communities alike.

Many of these big banks are closing their doors to make the switch to a fully digital status. This is becoming an attractive choice because of online banks. Online banks:

  • Have lower fees than traditional banks
  • May offer more competitive interest rates
  • Are easily accessible

Traditional banks tend to charge higher monthly fees because of the overhead costs or the costs associated with keeping the bank branch up and running. Traditional banks also have set hours, so you’re limited to doing your banking whenever their branches are open. Plus, you have to have some level of human interaction in order to take care of your finances. This may not be appealing to some individuals if they’re more introverted or are in a rush. However, the human interaction and customer service you receive at physical locations is an advantage in many ways.

It helps to have a live person to help meet your financial needs faster. You don’t have to try to navigate an automated menu or chatbot. If you need assistance picking the right savings account or retirement plan, chatting with a real bank advisor in person may be just what you need.

Also, traditional banks offer some services that digital banks are unable to accommodate, such as making a cash deposit. Some traditional banks, like Highlands Community Bank, have safe deposit boxes which customers can use to store valuable documents and possessions. Fewer banks offer these anymore, especially now that more banks are closing. But you can find ours at our Covington branch. We also have two other conveniently located branches, in Clifton Forge and Hot Springs.

Top-Notch Customer Service

Customers want top-notch customer service no matter where they go. Experts say that a majority of bank customers want immediate service and find personalized recommendations more satisfying than general ones. While AI chatbots can certainly be efficient, studies show that consumers still prefer having face-to-face conversations with bank representatives. That personal, human touch reigns as one of the most valued parts of the banking experience.

Highlands Community Bank understands that, and we strive to build a personal relationship with each customer from the get-go. We all live in this beautiful community together, so we’d love nothing more than to see our neighbors conquer their financial goals.

Highlands Community Bank was established with the very notion of providing the best service to residents and local businesses. That means being here for you 24/7 and understanding your history. We’ll always warmly greet you by name and ensure that your needs are met. Our staff doesn’t ever just check boxes — we go above and beyond to make a difference and be different. One way we achieve this is by keeping banking simple.

Products & Services for the Community

Typically, commercial banks offer basic services and products like:

  • Checking and savings accounts
  • Personal loans
  • Car loans
  • CDs

Some of these are somewhat easy to obtain access for. However, it can be quite challenging to qualify for personal loans or auto loans at big banks.

Not only has the cost of borrowing greatly increased recently, but lenders have become more selective about who qualifies for approval. Lenders look at your credit score and an overall view of your financial history to determine your creditworthiness. With rates aggressively rising, many big banks are tightening their lending standards.

At Highlands Community Bank, you don’t have to worry about sky-high rates. We make banking easily accessible, and we’ll work with you to help you. We’re pleased to offer competitive rates and flexible options made for you. We have a wide variety of savings and investment products like IRA accounts, loans, as well as deposit products.

Considering Switching Banks? Let Us Help You!

Highlands Community Bank is here for you! Switching to our bank can be done in five easy steps. If you have any questions or concerns, visit us at a branch near you or call us anytime. Our doors and lines are always open!

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