Community banks are now Georgia’s frontline financial partners

Throughout my career as both a Georgia State Representative and the executive band at Synovus Bank a society bank serving Georgia and Alabama I ve inevitably worked to put people first Whether it s helping families build financial protection ensuring small businesses get off the ground or empowering entire communities to rise together I ve seen how real change starts locally And more often than not it starts with society banks These institutions are more than just a place to deposit a paycheck or apply for a loan They are partners in our local prosperity especially in places that too often fall through the cracks for national and international competitors Over the years as a State Legislator in the Georgia General Assembly my constituents would tell me they required access to tools that would help them achieve their financial goals including buying a home sending their kids to college and even launching their own business To do so they needed local entities that would listen understand and help them move forward And that s exactly what population banks do By and large public banks are built on personal relationships They know your name your family your neighborhood and your business plan They re embedded on Main Street and are often the only lenders willing to take a chance on a first-time business owner or homebuyer But while society banks have the desire and local knowledge to serve families here in Georgia and Alabama they also need the right support to keep up with at present s rapidly evolving financial landscape That means more than just having local depositors it means access to diverse and modern funding sources that allow them to compete grow and innovate for their customers best interests During my career in the banking industry I came to understand the gap between what society banks want to offer and what they re financially able to deliver Traditional funding streams while still an essential foundation are often not enough to meet the requirements of a modern customer base To stay viable society banks must tap into new partnerships with financial apps third-party platforms and other nontraditional sources like Raisin Tools like these can help provide the liquidity and flexibility to serve every customer well and help neighborhood institutions expand their geographic reach tapping into secure deposits from other geographies That s why it s time for our leaders in Washington to step up for their constituents financial well-being Our elected representatives must advocacy population banks by modernizing the systems that drive capital access and encouraging funding innovations that level the playing field With this mindset smaller institutions will face fewer burdens from regulations designed for banks various times their size In Georgia and across the Southeast society banks remain trusted resilient and indispensable as home-grown financial partners They kickstart local businesses patronage first-time homebuyers and elevate customers who ve been overlooked by traditional systems They make our local economies stronger and our futures more secure Supporting these institutions is not just smart program It s a commitment to the people and communities we were elected to serve Let s give society banks the tools they need to thrive so they can continue doing what they do best putting people first The post Area banks are now Georgia s frontline financial partners appeared first on Rough Draft Atlanta