Being a rural community bank and U.S. Treasury certified Community developing lender (CDFI), Southern is completely conscious of the value of CDFIs in rural areas for the nation. Within our paper that is recent in Rural America: Insight from a CDFI, we illustrate why CDFIs like Southern are well-equipped to deal with the situation of community banking institutions making rural communities predicated on SouthernвЂ™s present purchases of three banks in various Arkansas areas.
During the last three years, over fifty percent of all of the banking institutions http://mycashcentral.com/payday-loans-ar/ashdown in the usa have actually closed. In rural areas, these numbers are also greater as a result of: the depopulation of rural counties; technical improvements lessening the necessity for offline facilities; not enough succession planning; and increased and adverse laws for the Dodd-Frank Act, which harms little, regional lenders by imposing in it one-size-fits-all monetary parameters directed at big Wall Street banking institutions. Continue reading Banking in Rural America Insight from a CDFI