Banking Locally: Venue Projects and Gateway Bank
In celebration of Community Banking Month this April, we are profiling some of our community banking members and their local business clients!
At last year's speed dating event for local businesses and local financial institutions, Venue Projects, a local redevelopment and construction firm, was matched up with Gateway Bank, a community bank based in Mesa. "We attended the banking event last year and met James Christensen, president of Gateway Bank," said Lorenzo Perez of Venue Projects. "James has personally come out to see our projects and is excited to lend us the funds for our next development. Community banks understand the local climate and are much more likely to fund infill projects for local companies. We bank locally and have been very pleased with our relationships."
According to the Institute of Local-Self Reliance, one of the top reasons for banking with a community bank or credit union is that you keep decision making local:
At local banks and credit unions, loan approvals and other key decisions are made locally by people who live in the community, have face-to-face relationships with their customers, and understand local needs. Because of this personal knowledge, local financial institutions are often able to approve small business and other loans that big banks would reject. In the case of credit unions, control ultimately rests with the customers, who are also member-owners.
The experience with Venue Projects and Gateway Bank illustrates just how true this is. If you're interested in personalized banking on a local level, join us for our meet and greet with local financial institutions on April 29! Click here for more information.