Consumer Products

The Benefits of Having a Deposit Account at Your Community Bank

November 6, 2023

Community banks are the backbone of the local economy, and they offer a number of benefits to their customers, including competitive interest rates on deposit accounts. If you’re looking for a place to park your money and earn a decent return, consider opening a deposit account at your community bank.

Here are just a few of the benefits of having a deposit account at a community bank:

Competitive interest rates: Community banks often offer competitive interest rates on deposit accounts, including checking accounts, savings accounts, and money market accounts. This means that you can earn more money on your savings than you would at a larger bank.

Lower fees: Community banks typically charge lower fees than larger banks. This means that you’ll keep more of your money in your pocket.

Personalized service: Community banks are known for providing personalized service to their customers. You’ll get to know the staff at your bank, and they’ll get to know you. This can be a big advantage if you need help with your account or have any questions.

Support for the local economy: When you bank at a community bank, you’re supporting the local economy. Community banks reinvest their profits into the local community, which helps to create jobs and boost the economy.

If you’re looking for a deposit account with competitive interest rates, lower fees, and personalized service, consider opening an account at your community bank.

Here is a great deposit account option at PSB:

PSB Premium Checking

• 3.20% APY* on balances up to $25,000
• No monthly maintenance fee
• Free ATM withdrawals nationwide at MoneyPass® ATMs
• Mobile check deposit
• Certain requirements must be met to receive stated APY. Click here for account details.

Browse our PSB checking accounts here.

*Annual Percentage Yield. Rate may change without notice.  Please visit the personal checking page for the most recent rate and account details.