A bright side to today’s banking industry

Posted by Luke Owen on Thu, February 26, 2009

Before I joined Truebridge over five years ago, my knowledge of the banking industry was quite limited. In other words, I was the average American. I was a long time First Union checking account holder and then, by default, a long time Wachovia customer.

During my first few months with the company, my job was to source potential leads. This is where I discovered the hidden world of small banks.

Today, this world is starting to shine. Here are some examples where the media covers the little guy. All segments except for one are ironically titled, “The Little Bank that Could”.

Here is a CBS Evening News segment where a small bank in Vermont is highlighted: Read the article

Watch the segment:

Capitol Federal Bank in Kansas showcased in a Today Show segment: Watch the show

Article on BNET Financial Services that highlights a bank in North Carolina, right near BoA and the former Wachovia, who received bailout money and is actually doing something with the money to help the local economy and housing market grow: Read the article

Finally, here’s an article from www.tennessean.com that highlights a few local banks and the advantages they have for being a small bank in today’s economy (only article out of the four that isn’t titled, “Little Bank that Could”): Read the article

Unfortunately, the big talk in the media and on capitol hill is the threat of nationalizing banks like Citi. But while the Government pumps billions of dollars into the big boys, the little guys are running strong.