About Lesson
In this type of lending environment, it’s all about relationship style banking. Take the time to establish a relationship with a local bank and perhaps even a local credit union.
In a world where banking products with low fees and decent interest rates are few and far between, most bank customers can’t afford to stick with one institution.
After all, one bank offering great home loans may not be able to compete with the savings account rates offered by another. Conducting business with multiple banks means taking advantage of more opportunities to save and grow your money.
However, there is something to building a strong relationship with one bank. Just like a relationship between two people implies an expectation they’ll receive a higher level of trust and priority in each other’s lives (in theory, anyway), committing to a single bank can provide many of the same benefits.
Financial institutions often push away newly established businesses, which means becoming BFFs with just one bank may prove difficult if you don’t have a lot of cash to offer. But those bank customers who actually add to bank revenue — through large deposit and loan balances — can reap numerous rewards from this win-win situation.
Let’s jump into our Lender Strategies training to show you the exact steps required to laying the foundation for a solid and fruitful banking relationship.