invest locally

Okay. I'm definitely hooked on Go Local Sonoma County's website. There is so much excellent information on there that I couldn't help but make one more post on banking locally. The following information is taken from a post by Kelley Rajala and Terry Garrett.Make sure to follow the link to see a great Prezi on the Local Multiplier Effect. (Background: Prezi is similar to PowerPoint, but is less linear in both layout as well as scope.) Enjoy!

How To Find a Local Bank: Tips & Tricks

By: Solari

A. Identify Local Banks

1. Get the list of the banks and credit unions in your area from your local Yellow Pages. Delete names that you know to be large banks, including names on the Solari US Banking Tapeworm 20 List.

2. Visit your local Chamber of Commerce and ask them for a list of all banks in your area -- ask them to identify which only operate locally and/or regionally and which are owned locally or regionally, or, if credit unions, controlled locally.

A local bank is a bank that operates within your local area and is primarily owned or controlled by people who live within or near your local area.

A regional bank is one that operates in your state and a few other states and is owned and/or controlled by people based in those states.