OUR
MISSION
“In order to raise productivity, [we] need to establish many local community banks, which enable small firms to always upgrade to the latest technologies and hence be highly competitive and productive...”
Richard A. Werner, 2021
WHY COMMUNITY BANKING?
Research suggests that economies with concentrated banking systems tend to produce uneven economic development with boom-bust cycles and increasing inequality. Economic systems consisting of many small local banks, tend to have thriving communities, high job creation, low unemployment, lower inequality and resilience to external shocks, as well as fewer financial and economic crises.
Community banks have a long and remarkable track record having been tried and tested in the three countries with the largest number of banks: the USA, Germany, and China. Community banks are not just important for the economy but they are more accountable and more robust. During the 2008 financial crisis, not one community bank in Germany required a bailout from the taxpayers. Instead of maximizing fees, avoiding taxes, and trying hard to extract money from customers, community banks seek to lend ethically and work hand-in-hand with small businesses.
The result is greater business competitiveness and greater general prosperity for the community they serve.​​​​​