Why Staying Local Matters: Banking Beyond the Interest Rate
02/05/2025

In a world where it seems like everyone is chasing the highest savings or CD rates, it’s easy to wonder if switching banks might be worth it. However, as a recent Wall Street Journal article highlights, the financial benefits of hopping from one bank to another for a slightly higher rate often don’t outweigh the hassle. We believe there’s more to banking than numbers on a page—it’s about trust, convenience, and being part of a community that values you.
Switching banks for a slightly higher interest rate can seem like a savvy move at first glance. However, as a Wall Street Journal article by Dalvin Brown points out, the financial gains are often modest. For instance, moving $10,000 from an account with a 4.35% rate to one offering 4.85% might yield only $300 more in interest over five years. Is that worth the time and effort of setting up new accounts, transferring funds, and managing new logins? Many customers decide it’s not.
At TruBank, we focus on what truly matters: providing personalized service, local expertise, and financial stability. Unlike online banks that might offer a temporary high rate, we’re here for the long haul—helping you achieve your goals with products and services designed to fit your unique needs. Online banks may quickly drop rates once they have achieved significant funding. That leaves you back to the original rate or worse, a lower rate than when you started.
Banking should be more than transactional; it should be relational. Banking local gets you access to a team that knows your name, understands your goals, and supports your community. Our roots run deep, and our commitment to you goes beyond offering competitive rates.
Every dollar you deposit at TruBank is an investment in your local community. Unlike online banks that funnel funds to other regions, we use your deposits to support small businesses, fund community projects, and help neighbors achieve their dreams. When you bank local, you’re contributing to the success of your community.
Chasing the highest interest rate may seem appealing, but as a Wall Street Journal article illustrates, it often comes with hidden costs and minimal financial benefit. At TruBank, we believe in banking that values people over percentages. By staying with us, you’re choosing stability, trust, and a commitment to your community. Banking locally isn’t just convenient—it’s a decision that pays off in more ways than one.