Keeping It Local: How Your Deposit Dollars Support The Community

Keeping It Local: How Your Deposit Dollars Support The Community

Ever wonder what happens to your money after it’s deposited at North Country Savings Bank? 

Generally speaking, banks use deposit funds on investments. While many national banks hold a range of different assets like real estate, stocks, and bonds, North Country Savings Bank invests predominantly in the local community, through loans for local community members. In fact, nearly all the deposit dollars at NCSB go to providing mortgages for housing in the North Country. And according to Mighty Deposits, the amount that NCSB invests in the local community is 101% higher than the industry average. 

That means that customers who bank at North Country Savings Bank are actively supporting their fellow community members. Homeownership is one of the most powerful ways families can build long-term financial stability. And homeowners are more likely to maintain their property, support local schools, and participate in community events. Community Banks like NCSB also understand the unique dynamics of our local housing market and often have more flexibility to work with customers whose situations don’t fit a one-size-fits-all mold. That local insight can make the difference between someone being approved for a mortgage or not.

Keeping deposit dollars in the North Country fosters a healthy local economy. It helps families buy homes, supports real estate agents, builders, inspectors, and countless local businesses tied to the housing market. Every dollar spent locally tends to circulate several times, amplifying its economic impact. So the next time you make a deposit with NCSB, you can feel good knowing you’ve contributed something to your community.

For more information on our lending and deposit products, visit www.ncsb.bank. 

Equal Housing Lender. Member FDIC.