We offer the same array of services, from online bill paying to remote deposit capture and debit cards, at lower cost than big banks. Average fees here are substantially lower than at big banks. Studies show that small financial institutions also offer, on average, better interest rates on savings and better terms on loans.
Small businesses, which create the majority of new jobs, depend heavily on small, local banks such as Citizens for financing. Although small and mid-sized banks control less than one-quarter of all bank assets, they account for more than half of all small business lending. Big banks, meanwhile, allocate relatively little of their resources to small businesses.
At Citizens, loan approvals and other key decisions are made locally by people who live in our community, who have face-to-face relationships with their customers, and who understand local needs. Because of this personal knowledge, our bank is often able to approve small business and other loans that big banks would reject.
The wealth of our Citizens is intimately tied to the wealth of Morgantown and Monongalia County. The more the community prospers, the more we all benefit. This is why we are involved in the community. Big banks, in contrast, are not tethered to the places where they operate. Indeed, they often use a community's deposits to make investments in other regions or on Wall Street.
The primary activity of almost all small banks is to turn deposits into loans and other productive investments. Meanwhile, big banks devote a sizeable share of their resources to speculative trading and other Wall Street bets that may generate big profits for the bank. However, they provide little economic or social value for the rest of us, and they can put the entire financial system at risk if they go bad.
Citizens is consistently rated as one of the strongest banks in the country in terms of our capital ratios and the quality of our balance sheet. Bankrate.com and others have consistently awarded Citizens with its highest 5-star safety rating.
Citizens Bank of Morgantown provides links to web pages which are not part of the Citizens Bank of Morgantown website or domain. These sites are not under Citizens Bank of Morgantown’s control, and Citizens Bank of Morgantown is not responsible for the information or links you may find. Citizens Bank of Morgantown is providing these links only as a convenience. The presence of these links on the Citizens Bank of Morgantown website is not intended to imply Citizens Bank of Morgantown’s endorsement of that site, but to provide a convenient link to relevant sites which are managed by other organizations, companies or individuals.