Have you heard? Have ya? Yes, Bo Jackson helped charter a new community bank. We all just want to say a quick congratulations to him and his other investors. Taking on the challenge of opening a new community bank is not an easy feat, no matter the economy's status. With the term "bail out" appearing in people's nightmares daily from the financial crisis it needs to be addressed that Bo Jackson's bank is different than a big corporate bank such a Citi Bank. Community banks are not traded on the stock market; most are privately funded by shareholders, shareholders who live in the bank's own communities they serve.Have you tried your local community bank? What they may lack in numbers of branches they sure make up for in personal service. They are FDIC insured just like your big corporate banks, so give them a chance. Want to make sure a bank you are considering is regulated and insured by the FDIC? Just check here to find them for peace of mind.
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